Selling an apartment without a real estate agent: checklist and tips on the process, costs & Co.
Selling an apartment without a broker – If you want to sell your apartment, there are several ways to do it. One way is to hire a realtor to take care of the sale for you. However, there is also the option of selling your apartment without a realtor. This can be an especially good option if you want to save on realtor costs and have enough time and resources to take care of the selling process personally. Learn everything you need to know about selling an apartment without a realtor, from the process to the costs to the most important documents – including a checklist. You can find out more in our guidebook: Selling an apartment.
Apartment sale without a broker: That speaks for it
In this case, you will have to take care of the sales process yourself, including creating ads and organizing viewings.
Let’s take a closer look at the advantages and disadvantages.
Advantages: Saved costs & faster processing
One of the biggest advantages is that The most important factor is certainly that you can save the broker’s commission, which is usually incurred in a successful sale. This commission is usually several thousand euros and can therefore represent a significant portion of the sale price. In addition, you always have full control over the sales process and can always decide yourself about viewing, buyer & Co.
The biggest advantages at a glance:
- Savings on broker commission
- Control over the sales process
- Direct contact with potential buyers
- More personal appearance
- Faster processing of formalities
Disadvantages: Lack of professional support
However, a sale without a real estate agent is also associated with some disadvantages. For example, you have to take care of creating advertisements and organizing viewings yourself, and you don’t have the support of a professional real estate agent in evaluating the apartment and handling the contract. In addition, it can be difficult to find a suitable buyer if you do not have an extensive network or experience in selling real estate.
All disadvantages summarized:
- Time and resource consuming
- No support of a professional broker
- Lack of network and experience in real estate sales
You see: Selling without a realtor is worth it. Even if you lack experience, a private apartment sale is not impossible. If you follow these steps, nothing will stand in the way of your sales success.
Procedure: From the valuation to the purchase contract
If you decide to sell your apartment without the help of a real estate agent, you should follow these steps.
An overview of the process:
- Have apartment valued
- Create sale ad
- Organize tours
- Negotiate purchase price
- Create purchase contract
- Apartment handed over to buyer
Have apartment valued
The first thing you need to do is find out how much your apartment is worth. To do this, you can use various online tools or real estate portals to value your apartment and determine the average price per square meter in your area. A professional property valuation by an appraiser is also possible.
Create sale ad
Once you have determined the value of the apartment, you need to create an advertisement to draw the attention of potential buyers to your apartment. For this purpose, you can place ads in newspapers, online real estate portals or even on social media platforms. Make sure to include meaningful photos and detailed information about the apartment.
Once you have received inquiries from potential buyers, you should organize and conduct viewing appointments. You should be flexible and offer appointments at weekends or in the evenings to accommodate as many interested parties as possible.
Negotiate purchase price
Once a buyer has been found, you need to negotiate the selling price. Here it is important to set a realistic price and not to make too high demands. Also, make sure to answer all the buyer’s questions and provide additional documents or information if needed.
Create purchase contract
Once the buyer and seller have agreed on a price, you need to draw up the purchase contract. For this, you can use standardized contract templates or seek advice from a lawyer. The contract should contain all the important information about the apartment and the conditions of the sale.
Apartment handed over to buyer
Now you just need to make a notary appointment to complete the sale. After the sales contract has been signed, you have to hand over the apartment to the buyer. Here you need to provide all the necessary documents and keys and also make a handover protocol to record any damage or defects.
It is important that you proceed carefully with each step of the sales process and take sufficient time to organize and carry it out. If you are unsure or need assistance, you can also consult a notary or a lawyer to ensure that all legal formalities are complied with.
Costs: Notary, energy certificate & Co.
As mentioned above, you can save the broker’s commission if you decide to sell without a broker. However, you will still have to bear some costs that come along with the sale. Here are some of the costs that may come your way as a seller:
- Notary fees
- Costs for the application of the energy certificate
- Marketing & advertising costs
Overall, the cost of selling an apartment without a broker may vary depending on the value of the property and the scope of services used. It is advisable to find out in advance about the possible costs in order to make a realistic calculation of the proceeds of the sale.
Important documents at a glance
As we all know, good preparation is half the battle. This also applies to the documents. It is best to compile them in advance and keep them in an important folder that you can access at any time.
In any case, you can not do without these documents:
- Land register excerpt
- Energy certificate
- Purchase contract
- Parcel map
- Floor plan
- Building description
- Living space calculation
- List of maintenance measures
- Overview of the house payments
Make sure that all documents are always complete. Additional costs may be incurred, especially for the application for the energy certificate and the land register extract.
You can find everything you need to know about the most important documents here:
Checklist: This is what you should pay attention to
Here’s a checklist of some important questions to ask yourself when considering whether to sell your home without a realtor:
- Do you have the time and resources to handle the apartment sale yourself?
- Do you have experience in dealing with real estate sales?
- Can you realistically estimate the value of your home?
- Do you have all the necessary papers and documents together?
- Are you ready to negotiate with potential buyers?
- Do you have a clear idea of what you want to achieve in terms of sales?
- Do you have the necessary knowledge to clarify legal issues related to the sale?
Conclusion: Selling an apartment without a broker is worthwhile
In summary, selling an apartment without a broker is an option that has many advantages. First of all, you save the broker’s commission that would otherwise be due, which can be a considerable sum, especially for expensive properties.
At the same time, selling without a real estate agent also requires some time and work, since the seller must take over all tasks himself. These include, for example, advertising the apartment, conducting viewings and negotiations, as well as preparing and reviewing the necessary documents. However, if one is willing to take on these tasks and has the necessary knowledge and skills, selling without an agent can be a sensible decision that leads to a successful and satisfying selling experience.