Things To Consider While Selling Home Without An Agent in Ghana

Selling your home without a real estate agent in Ghana is an experience worth taking but with a few tips, a little planning, and a lot of work – you can do it too. You will be doing a lot of things that real estate agents in Ghana normally do but with a little preparation, you’ll be able to nail it better than an estate agent in Accra. 

When you sell your home without a realtor in Ghana, it’s natural to want to get the highest return on your transaction. This is why some Ghanaian homeowners prefer ‘for sale by owner’ as the perfect choice. There are numerous benefits of working with a real estate agent in Ghana.

All you need is a little guidance and a few tips & tricks to make sure that you have a successful and smooth transaction. Here are some key things to consider when selling your home without an agent in Ghana:

1. Prepare Your Home for Sale

To action ‘for sale by owner’, you have to make the necessary repairs and renovations to make the property look presentable and also increase the property's value. Clean and remove unwanted materials from your home to make it appealing to potential homebuyers in Ghana. At this stage, you should take high-quality photos and videos of your home to showcase its best features.

2. Set a Competitive Price

A lot goes into setting the price of a home in Ghana. To set a competitive price for a property you want to sell - you should research recent property sales in the local area to determine an appropriate asking price. Though the comparable properties can't look the same it should be similar for you to have a sound price for your property. To do that consider factors such as location, condition, and amenities when setting the price. Better still you get a valuation from an independent property valuer to give a professional value estimate.

3. List the property

If you decide to DIY your property sale without the use of an agent, you will need to take care of advertising, pricing, and viewings yourself. This is a good option if you already know someone interested in buying your home in Ghana. But you can also make use of “for sale by owner” websites, such as PropHunt to list your home for sale in Accra and other online real estate platforms and property portals in Ghana.

4. Market Your Home

After setting a competitive price and listing your property online. The next stage is to market your property for sale in Ghana. To do this, you can utilize social media and word-of-mouth to reach a wider audience. Place "For Sale" signs in front of your property to attract walk-ins and local buyers. The mere listing online will not sell your home for you but you can share the listing on social media platforms like Facebook, Instagram, X, and TikTok.

 5. Take Emotions Out of the Transaction 

‘For sale by owner’ is an emotional endeavour; you mustn't let this affect the selling process. This is a business transaction and you need to be focused on the numbers that come in. To sell your house and make a hefty amount of money, you need to be objective in dealing with your emotions. Yes, it’s your home and you have your memories in that property, but at the end of the day, it’s a financial asset. 

6. Negotiate With Potential Buyers

Negotiation is a skill you should possess if you want to succeed in your attempt to sell your home without a realtor in Ghana. Be prepared to negotiate with potential buyers on the price, terms, and conditions of the sale. Consider using a counteroffer strategy to get the best possible deal. Seek professional advice if you are unsure about the negotiation process. The homebuyer wants the best possible deal and your buyer’s agent will do anything to make that happen. So negotiate the sale price of the property as much as you can but don’t push it too far that you scare the buyer off.

7. Handle Legal and Financial Matters

To skip additional expenses from hiring a lawyer - you can ensure that all necessary legal documents, such as the title deed and tax clearance certificate, are in order. However, you must consult with an attorney to ensure that all legal requirements are met and are done right. You can also open an escrow account to manage the proceeds of the sale. However, if you cannot handle the legal aspect of the sale then you should get a lawyer. Having a real estate lawyer by your side will provide you with the peace of mind that you will need during the closing process. 

8. Be Patient and Persistent

Selling a home without an agent may take longer than working with a realtor in Ghana. We advise you to be patient and persistent throughout the process to increase your chances of success. Sometimes you may encounter difficult homebuyers but remember the ultimate goal is to get their money in exchange for your property. That's why it's prudent to be patient in this financial decision endeavour.

9. Consider Consulting a Real Estate Professional

At any stage of the selling process if you feel like consulting a real estate professional for any help, please do that. It is never too late to seek the services of a real estate professional if you encounter challenges or uncertainties during the process. A real estate professional can provide guidance, negotiate on your behalf, and ensure a smooth and successful home sale in Accra.

10. Complete the Sale

Once a buyer has been found, work with an attorney to draft a sales agreement. Coordinate with the buyer's bank to finalize the financial transaction. Arrange for the transfer of ownership and registration of the property.

Pros of Selling Your House Without a Realtor in Ghana

Selling your house in Ghana without a realtor, also known as a For Sale by Owner, can be a cost-effective option in Ghana. Here are some pros of selling your house without a realtor:

1. You can avoid home inspection delays

Sometimes inspection delays are the major reasons for closing delays. If you sell your home as-is to a Ghanaian cash buyer, they may not require you to complete any needed repairs uncovered during the home inspection. Some cash buyers could waive a home inspection entirely without any further actions.

2. Cost savings

Realtors in Ghana typically charge a commission of 5-10% of the final sale price, which can be a significant expense for sellers. By selling your house without a realtor, you can save this commission and keep more of the profit from the sale.

3. Control over the process

When you sell your house without a realtor in Ghana, you have more control over the process. You can set your own asking price, negotiate directly with potential buyers, and decide when and how to accept offers. This can be advantageous for sellers who want to be more involved in the sale of their property and have more flexibility in the process.

4. Customization of marketing

Without a realtor in Ghana, you have the freedom to customize your marketing strategy to target potential buyers effectively. You can choose which channels to use, such as online listings, print advertisements, and open houses, to maximize exposure and reach your target audience. 

5. Personal touch

Selling your house without a realtor in Ghana allows you to have a more personal connection with potential buyers. By interacting directly with buyers, you can provide them with detailed information about your property and address their concerns, building trust and rapport. This personal touch can increase the likelihood of closing a successful sale and creating a positive experience for both parties.

Cons of Selling Your House Without a Realtor in Ghana

Selling your house without a realtor in Ghana may seem like a cost-saving measure, but there are several cons to consider before making this decision.

1. Lack of Professional Knowledge

Realtors in Ghana possess extensive knowledge of the real estate market, including current trends, pricing strategies, and legal requirements. Without a realtor in Accra, you may be at a disadvantage in negotiations and could potentially end up selling your house for less than its true value.

2. Limited Marketing Reach

You may have the opportunity to market your property for sale in Ghana but that cannot be compared to realtors in Accra. They have access to a wider network of potential buyers and utilize various marketing channels to reach a larger audience. Selling your house without a realtor may result in limited exposure, making it harder to find a suitable buyer.

3. Limited Negotiation Skills

Real estate agents in Ghana are skilled negotiators who can advocate for your best interests during the selling process. They can effectively present your property's strengths, negotiate favourable terms, and protect your rights throughout the transaction.

4. Time Commitment

Selling a house requires a significant amount of time and effort. From preparing your property for sale to managing showings, coordinating paperwork, and addressing buyer inquiries, the entire process can be overwhelming. Without a realtor, you may have to handle all of these responsibilities alone, which can take away from your personal and professional life.