Why are Ugandans increasingly employing property agents?
It is because agents find easily find buyers. They find buyers through adverts or buy the property themselves and add it to those they already own for sale. Agents usually work for a commission of 10% of the sale price. Those in prime locations, pin posters on trees or electric poles to advertise particular properties.
The posters usually have the numbers to call in case one is interested in the house or plot of land.
What is the advantage of selling my property without an agent?
One of the benefits of selling your property without an agent is the chance to make financial saving through not having to pay commission to an agent.
Property owners should consider this if they are to sell their properties within the shortest time. But if you decide that you want to sell your property without the assistance of an agent, you will need to do quite a bit of homework before you start.
How can I target buyers?
Marketing is important. It is important to market your property to the people who have the resources. Spread the word and you will find those willing to buy.
There are several ways of doing this, you can place an advert in the New Vision classified pages or place a signpost near your property.
Is a seller expected to negotiate prices?
Having good negotiating skills is important. This is because it is hard to find someone willing to buy at the advertised price without asking for a discount.
Before entering into negotiations with a buyer, make sure you have decided on the lowest price that can still earn you profit. To negotiate effectively, you should be able to explain how you arrived at the price you are selling and explain to the buyer intrinsic advantages of buying that property.
In case I want to sell my property at sh50m what should be the agent’s commission?
If you are to sell your property at sh50m, the agent earns sh5m. Sometimes, even before deciding the amount you would want from the item, the agents head off chasing for buyers.
Although these people do a lot of work looking for buyers, one can sell his or her property without employing the services of an agent.
Responses by real estate agents and managers