21
Oct
2013
Oct
2013
You are in the process of selling your home. Which avenue do you follow?
Here are some advantages and disadvantages of enlisting the services of an estate agent.
Advantages:
- All the work is done by the appointed agent or agents.
- The agent will bring buyers to your home at your convenience.
- If you give a specific agent an Exclusive Mandate or a Sole Mandate to sell your property, they can in some instances sell your property above your expected selling price.
- The estate agent will sell your property at the correct price.
- The estate agent is responsible to ensure all legal documentation is passed on to the respective attorneys.
- Your estate agent will keep you informed as to progress of the marketing of your property.
Disadvantages:
- You are at the discretion of the agent with regards to marketing your property.
- You could inadvertently be at risk to have to pay double commission. This occurs when the same buyer views your property through another agent and you accept the Offer To Purchase from the other agent.
- Agents can sometimes enter into a dispute over Effective Cause Of Sale. What this means is that a buyer has viewed your property through an agent and then later through another agent, the buyer closes an Offer To Purchase with the second agent. The For Sale Board outside the property has a different name to the second agent, the Effective Cause Of Sale will be the agent whose board is standing outside the property and the agent has taken the buyer through your property on a previous occasion. Unscrupulous agents will involve the seller to resolve this dispute of commission payable.
At Myroof the commission of the bank related properties is neither the seller’s nor the buyer’s responsibility. It is a carefree process – from selling or buying.
