Private property sales need to be exposed so that there would be prospective buyers. Otherwise, there would be the difficulty of disposing the property. To make sales possible, there must be people involved in the transaction. It does not only concern the property itself. It also concerns other players of the transaction.
When you decide for private property sales, there could be three important players who will be involved. They are the owner, the sales agent, and the solicitor. These three players will be busy in dealing with the sale. However, each one has their own role to take.
• As the owner, you are tasked to dispose the property. You will determine the market value of the property as well as the selling price. You need to consider the purchase price of the property, the marketing costs, and other costs incorporated in the sale. Then it is your responsibility to ensure that the property is saleable and legally available. Generally, the owner can sell house privately. He can sell it by advertisement or word of mouth. It is actually his discretion on how he can sell it.
• The sales agent is normally the middleman of the sale. They are tasked to sell the property. When an owner has dealt with a sales agent, the owner is giving the sales agent full rights to the private property sales. However, it is the responsibility of the owner to ensure that the agent will get the commission due him.
• The third player is the solicitor. Contrary to most beliefs, it is not the role of the sales agent to undergo conveyance, legalizing the transaction, and dealing with the buyer’s solicitor. It is the sole task of the solicitor as the solicitor has the expertise in property documentations, legalization, and conveyance.
With these players, there is the tendency that the cost of the house will increase more than just the market value. The cost for solicitor and the sales agent as well as the markup for the owner will be incorporated in the purchase price of the private property sales.
To be able to lower the selling price of the property or for the owner to have considerable markup for the private property sales, one must slash down the cost for the players. Definitely, one cannot do away with the role of the owner, as this is the reason why the property is for sale in the first place. Solicitors cannot also be disregarded because property documentation has to be done by qualified solicitor. This leaves a question if sales agents are necessary. Actually, if the owner cannot sell house privately due to limited time, effort, and resources, then the sales agent will prove to be necessary. However, if there could be ways to improve exposure of the private property sales, then by all means, it would be more practical to sell house privately. You just need to advertise the sales for enough exposure.
One way to sell house privately for enough exposure is through advertisement online. The Big Move Online is one site that offers private property sales. The owner will have complete control on how to go about the advertisement of the property because it can be done once an account is made on the site. With Big Move Online, to sell house privately is made easy because of exposure. This way, the owner will save on the commission of sales agents.