The act of a property owner in Guyana offering their residential dwelling directly to prospective buyers, bypassing traditional real estate agency representation, constitutes a significant segment of the housing market. This type of transaction involves direct negotiation and agreement between the seller and the purchaser regarding the price, terms, and conditions of the sale. An example would be a homeowner placing a “For Sale” sign on their property in Georgetown and managing all aspects of the sale themselves.
This approach can offer several advantages, including the potential for cost savings by avoiding commission fees typically associated with real estate agents. Sellers retain greater control over the sales process, including marketing, property showings, and negotiations. Historically, this method has been prevalent in areas where formal real estate services are less established or when owners possess sufficient knowledge of property values and legal procedures. The importance lies in providing alternative avenues for property transactions, potentially increasing accessibility and affordability for buyers and sellers alike.
