Going Solo

Discussion in 'Buying & Selling Real Estate' started by Rainman, Feb 11, 2015.

  1. Rainman

    Rainman Senior Investor

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    Obviously it would be a lot easier to sell real estate should you hire a real estate agent. But then, I've known a few people who've never hire realtors but still buy and property, making huge profits in the process.

    For one who seeks to make a huge profit, then cutting out the middle man can see them get what they want. Those who do have some experience buying and selling though.

    Do you think someone new to the real estate business can make-do with marketing on social networks and other places on the net to find buyers if they are selling land, houses, etc? Does marketing on the net make selling and buying real estate easier [for one who doesn't want to work with real estate agents]?
     
  2. shilpa123

    shilpa123 Banned

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    It all depends on the kind of property you are trying to sell. Nowadays even cars are bought online so I do think that property can be sold very well online. If the price is right then definitely people would be interested.
     
  3. missbishi

    missbishi Well-Known Member

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    I've sold without using an estate agent before and it went well. It required a lot of effort though and might be too daunting if you're not confident about writing descriptions, showing people round and taking decent photographs.

    I did pay a one-off fee to a private sale website but by doing all the work myself, I saved around £3,500. Obviously, you can't complete the whole transaction by yourself, you'll still need a conveyancing solicitor, but the potential savings make this worth seriously considering.
     
  4. crimsonghost747

    crimsonghost747 Senior Investor

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    If you have the time and the skills required and don't mind the challenge then go for it. You will still have to pay other people, to get the legal documents done, to get the house inspected professionally, to list it on a sales website etc. so it's not really "going solo" but it can significantly lower expenses for you.
     
  5. shilpa123

    shilpa123 Banned

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    I believe that this involves a certain amount of skill that is not found in everybody. I believe it all comes down to the point where you could actually think about how the other person is thinking and make some real time profit out of it.
     
  6. Gavin

    Gavin Active Member

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    I think that its a risk but marketing has created these large groups of agents that are able to blast a home out to many people at once. Facebook, twitter, reddit, even Craig's List can do the same, as long as your target market are the people who use these sites and you're some how able to breach the areas of your direct circle.

    Otherwise, you'll find a buyer but it will take time.
     
  7. AtlantaSports

    AtlantaSports Senior Investor

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    I feel like going solo is really just a situational thing. Depending on what property you are selling, it can be very beneficial to go solo. But sometimes, a real estate agent is just necessary in selling property. Selling real estate is not for everyone so be wise whenever considering going solo.
     
  8. Profit5500

    Profit5500 Senior Investor

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    Well if you are really an expert in the sales business yeah you should go at it alone. However, if you are not so sure then find someone who can help you get profit then do that.
     
  9. Guardian

    Guardian Member

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    There are benefits and there are setbacks for doing this. The obvious benefit is saving money, while the drawback is not having a second opinion and a sanity check (as long as you got a decent agent). I have a family member who does not use an agent and he saves a lot, but he has over 20 years making real estate transactions. After he figured everything out, he stopped using an agent. So I think after you have the experience and confidence in handling the transactions, its not a bad route to go. I also know a guy who just decided to become licensed on his own so he can increase his earning possibilities, and he gets the inside scoop and first look at a lot of properties.

    Personally, I have been considering getting licensed myself as the opportunities are much greater with the license behind you.
     
  10. shilpa123

    shilpa123 Banned

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    Sales business is a tricky one and I definitely believe it is one of the best if you know your way around it. I believe that one can learn to get through the sales if you have a friend to advice you upon it rather going on about it himself.
     

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