Selling property without a real estate agent in Portugal

Can I sell my private property without an agent in Portugal? What are the risks?

Selling property in Portugal without an estate agent Oleg Magni on Pexels

15 July 2022, 13:56

When selling property, it is normal for an owner to try sell without having a real estate agent involved, mainly to save money. Selling property without a real estate agent in Portugal is possible. But are there risks when it comes to selling property without a real estate agent, just to save on the commission that has to be paid? We explain everything.

Let's take this specific case: a private seller in Portugal who wants to sell their property has two offers from neighbours, and the property was valued last year. In other words, the owner has an idea of how much the property might currently be worth. If the owner decides to sell the property to one of the two buyers without having the help of a professional, the seller will save on costs and won't have to pay the commission charged by the real estate agency. In addition, by having only these two options for selling, they avoid having to show the house several times, as well as organising viewings, preparing the interior of the property, etc.

But it's not all advantages. Helen Curtis-Goulding, specialist partner in real estate at the company Fladgate, explains what the disadvantages are of choosing to sell a property without the help of an agent:

The market value: how much is my house worth?

The owners valued the property a year ago, so the value now is probably different. There may be buyers willing to pay much more than the offered price after evaluating existing offers a bit. Property consultants know the market much more than an owner who has no references and can take a much broader view to calculate a profitable price.

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The know how of a real estate agent

It is important to keep in mind that a real estate agent has more experience when it comes to closing deals. We are not only talking about negotiation skills, but also about financial factors.

To choose a buyer, you first need to know if they have enough economic stability to afford the property. Asking for proof to justify their financial capacity can be a bit awkward for the owner, particularly if it is someone they know, so having a third person in charge of this process is something extremely positive.

It wouldn't be the first time that sellers have ended up having to go to court because, at the end of it all, the buyer didn't have sufficient funds to go ahead with the deal.

Making decisions without the help of a real estate agent

When it comes to buyers, choosing between one and another can be difficult for a private seller. However, when working with an agent, he or she is in charge of evaluating the economic factors and giving the seller the most profitable option, without counting on sentimentality or social commitments that might complicate the negotiation.

It is normal for problems to arise in the process of selling a property, and it is easier to leave it in the hands of a professional rather than having to deal directly with the parties involved. Selling a house is almost always stressful and complicated, so you should consider if the financial savings that not hiring a real estate agent provide is really worth it. This is especially the case if you don't speak Portuguese and are selling property in Portugal for the first time.