Why Your Estate Agent is Not Your Friend
Listing your property for sale with a local or even an international Real Estate Agency probably seems the most effective and easiest way to find a buyer. Even though it may also be the most expensive!
Agents will tell you that they have your best interests at heart and will do all they can to promote your property to prospective buyers. Sounds good and that is exactly what you hope they will do.
However, Estate Agents rely on the commission they obtain from sales and your property may not be the one they believe they can sell to the next buyer who makes an inquiry. When someone does make an inquiry, even if it was your property they viewed on a website, you can guarantee the agent will also bring to their attention any other similar properties they have listed. And, if they are any good, they will try to ascertain exactly what the buyer is looking for. If they feel there is a better alternative that will make a sale they are going to promote that one rather than yours.
Agents are generally very lax in keeping you up to date with any information relating to the sale of your property. Just ask yourself when was the last time your Agent told you how many inquiries they have received for your property? Or how many times it has been viewed on their website? Most won’t even know the answer to that one!
Have they ever had an offer is another interesting question? In reality, they should advise you if anyone has made an offer but in many cases, if they feel the offer is too low, they won’t even tell you. Especially if they set the sale price for you. They would be too embarrassed to have given you a recommended selling price and then come forward with a lower offer. In these cases, they simply tell the buyer that you would not even look at such an offer!
If you are serious about selling then you really owe it to yourself to take a more active role in promoting your property. Advertising it privately will give you an alternative to an Agency and an opportunity to find out if there are buyers interested and, if there are, what they may be prepared to pay. On Dominican Republic Properties FSBO you have your own Dashboard where you can see how many visitors have viewed YOUR property. A potential buyer is able to contact you, and only you, not an intermediary, and talk directly to you about your property and why he might want to buy. So you get real feedback and a much better awareness of the market.
So, even though you may have listed your property with an Agent, or maybe more than one, there is no reason why you cannot, and should not, also try to sell privately. Unless you have an “Exclusive Agency Agreement” you are still free to promote your property for sale yourself and if you find a buyer you have no fees or commission to pay.
You can list your property here in just a few minutes. It really is easy! And currently FREE.