In Italy there are about 1 million properties for sale to date of which about 85% are managed by real estate agencies and only 15% are managed directly by individuals.
According to the findings of the report "The Role of Agencies and Individuals in Real Estate Sales - How Negotiation Times and Margins Are Changing," produced by AgentPricing tool.com by Reopla specializing in Big data Analysis, in Italy real estate agencies conclude the sale of a property in half the time compared to a private person: with a national average of 6.4 months to complete the sale of a property, the time drops to 5.8 months if an agency is in charge of it while it rises to more than a year, 12.2 months to be exact, if it is conducted between private individuals.
Similarly, the negotiation margin, i.e., the difference between the price published on the ad and the actual sale price, averages 8.6% but decreases to 8.4% in agency-managed sales and rises to 10.2% in negotiations between individuals.
"The report shows that in Italy only a small portion of real estate purchases and sales are handled by private individuals and that the vast majority of properties are entrusted to real estate agencies," comments Patrick Albertengo, Co-Founder and Managing Director of Reopla. "Negotiations conducted by agencies," notes the manager, "are generally concluded faster and with a price closer to the starting price because, unlike private individuals who tend to overprice properties, real estate agents have more experience in the field and technological tools that allow them to make more objective evaluations in line with the real market value of the property.
Based on this data, relying on a real estate agency can save you time and will allow you to identify the correct price of the property through real valuation and experience.
So here are 5 good reasons to rely on a real estate agency to sell or buy your property.
Valuation: real estate agents know the market
The real estate agency has a team that is very familiar with the target market, the dynamics, and the historical momentum of the real estate market. This information makes real estate agents perfectly capable of finding the right buyer for your home or locating the home you are looking for; they are also able to make realistic appraisals and negotiate and set the correct transaction prices. A real estate professional will know how to evaluate the correct price for a property, positioning it consistently within the market.
Choosing a price that is too low leads to devaluation of the property and loss of liquidity; conversely, a price that is too high causes loss of potential clients and likely devaluation of the house.
Negotiation: professional buying and selling
Real estate agents are able to accurately and professionally identify potential buyers interested in the property and at the same time the best properties on the market. The time of buying and selling is a complex moment equally for the buyer as for the buyer. Brokerage carried out by a professional in the field ensures added value that should not be underestimated and facilitates the entire process.
Promotion: publication and awareness of the property
A real estate agency invests its resources, has at its disposal many contacts, channels and professional services that allow it to reach a wide network of potential customers, certainly more than a landlord can do with a private ad. Through the real estate agent's work, the property will enjoy greater visibility and, also taking advantage of the communication potential of social networks, reach an even wider number of people.
Protection: real estate is his profession
All organized visits and proposed properties are evaluated and analyzed tailored to the individual. The real estate agent will guide the buyer or seller throughout the decision-making process, from the first visit to subsequent inspections, in which both the characteristics of the property, its advantages and disadvantages, and the timeline for the realization of the purchase/sale will be examined. The client will be accompanied up to the final decision, which will be made in total serenity, awareness and transparency.
Relying on a real estate agent means, therefore, having various services and the guarantee of a professional, who will follow the project step by step.
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