There are pros and cons to both using an agent and selling direct to a buyer. At Land Sale TX, we often by land direct from owners, but can also represent a seller if the better option is to put their property on the market. Here’s some considerations to help you determine the best route for you and your property.
When you’re selling your property or a piece of land you can either list it with an agent or you can sell it for sale by owner and we actually come across these circumstances quite often. We work with a lot of landowners and some landowners absolutely do not want to use an agent and some come to us and say we would love to work with you as an agent. Now, full disclosure, I’m a licensed agent as well and we also buy land directly from land owners.
So, to use an agent or to not use an agent? Of course, there are pros and cons with each side, right?
If you use an agent, there’s a good chance that the property might go for a higher sales price because an agent is going to list the market publicly on the MLS and you’ll bring in a lot of buyers that way. Also, if a landowner or property owner doesn’t have experience navigating contracts, an agent can provide assistance with that and, of course, we always recommend utilizing an attorney as well. And, agents bring expertise. They understand what market prices are going on in a certain specific area for land or for property. So agents bring a tremendous amount of value to a transaction.
In some cases, land owners absolutely do not want to work with an agent and we get that quite often actually. And, there are many reasons for this, right? Maybe they don’t want multiple people coming on their property, going through their homes, for example. Maybe they don’t want to pay a lot of fees, right? Usually, when you list with an agent, you pay, the landowner pays six percent. They pay their agent, plus the buyer’s agent. In addition, many landowners just simply don’t want their neighbors to know that they’re selling their property for various reasons, right? So, of course, there are pros and cons.
We always recommend, do your homework beforehand. Sometimes it may be in someone’s best interest to sell directly to a buyer or it might be in their best interest to list with an agent. So, as always, we recommend get with your CPA, get with your financial analyst, get with your attorney to see what’s best for you and your family when selling your property.
Feel free to reach out to us with questions or other topics you’d like to see covered.
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