Private Real Estate Listings

Private Real Estate Listings

Private Real Estate Listings

The traditional method of selling a house involves a real estate agent. When such a business is contacted by an owner willing to put his property up for sale, the agent adds the owner's real estate property to its list. These are called real estate listings. A more exact definition of the term would be, "A Database containing the various real estate properties for sale and rent". However, by selling your property through an agent you stand to lose anywhere from 2% to 6% of the sale value in commission. Although the agency takes care of every expenditure leading up to the sale such as marketing, advertising etc. the commission that they take is much more than the work they do. Therefore, ultimately you stand to lose some of the money contained in the sale price by commissioning a real estate agency.

In recent times, owing to the fluctuating economy, many owners are turning to private real estate listings. This means that the transaction happens directly between the selling party and the buying party with no involvement of an intermediary hence, no commission. Also, by listing property in local private real estate listings or FSBO (For Sale by Owners) websites, the owner can speed up the sale process. This method of selling private real estate has lately become a popular choice worldwide with buyers and sellers alike. Buyers benefit from the lower prices of the private real estate while sellers enjoy a fast and profitable sale.

Private real estate listings and FSBO websites also act as an advertisement for your property. The more real estate listings you register your property on, the more potential buyers you will find. Also, by using private real estate websites you have total control on every aspect of the sale. When you want to show your property and to whom you want to, are totally at your discretion. There is no real estate agent in this process to bother you at inappropriate times. You can even choose to have preconditions for the sale of your property by using private real estate listings.

However using private real estate listings for the sale of your property is not an easy task. It will need effort and money. The cost of advertising, hiring a lawyer specialised in private real estate law and other expenses are some of the costs you will have to personally bear. The entire responsibility of making sure that you get a good deal out of the sale of your property lies in your hands. Therefore, you will have to be proactive and willing to spend initially. Hiring a private real estate lawyer is always advisable when using private real estate listings. A lawyer will make sure that the transaction takes place within the boundaries of the law and will work to accommodate the demands of both parties. The most important function of a private real estate lawyer is, to settle any issues that may crop up after the sale in the future.

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