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Selling your home: the argument for private sale

For years we have all bought and sold everything online so why can't we do the same for our houses? Jon Middleton is one of a growing number of people who say they can.

September 3, 2013

The internet has transformed the way in which we buy and sell property to such an extent that Estate Agents are no longer better informed about house prices and the sales process than their customers. We all have it within our power to sell our own houses so why aren’t more of us doing it?

One reason is that private sellers i.e. you and me, are not able to use the big search portals like Rightmove and Zoopla.  This is a strict policy enforced by the portals keen to protect the interests of Estate Agents. But what from? The truth is that an estimated 80% of all initial buyers enquires are made from the internet. Should private sellers be able to use the big portals it would expose just how easy it is to sell your own property.

One of the biggest benefits of taking control of the house sales process is the money you will save from Estate Agents fees.  Our research shows for a property in the South East of England the average Estate Agent fee is £5,000. If your property is worth more and/or house prices go up the Estate Agent thinks it’s fine to charge more for doing no more work.  The traditional commission fee system is out of date and not reflective of the work involved. We should all be ditching it and going private.

There’s more to it though than just saving money. When offers are made you can negotiate the best possible sales price for your property. Getting the best deal is not always in the best interests of the Estate Agent. Selling a property for £5,000 more than the asking price can make a massive difference to you but to the Estate Agent it could mean just making another £82 commission and not worth their effort.

Having direct access to the buyer avoids any mis-communication and can make the sales process faster, smoother and less stressful. There’s no Estate Agent to hide behind and slow the process down and problems can be resolved immediately. There is no need to rely on the Estate Agent to do buyers status checks you can ask them yourself.  And do you really want an Estate Agent showing a buyer round your house when you’re the one who knows the most about it?

Going private also means there are no contracts to sign, no tie in periods and no frustration that the Estate Agent is not doing anything. Everything is within your control. There’s no extra cost to pay or hidden fees and there’s no sales patter to get you to sign up to services you don’t need and want.

There’s more risk when not using an Estate Agent though right? Wrong. No one can buy a house without it all being fully legally agreed. It’s the Solicitor’s job to sort out the actual legal transferring of the house not the Estate Agent. The Estate Agent’s job is to sell your house.  They are unable to reduce the risk of you getting gazumped or the sale falling through. The risks of going private or using an Estate Agent are the same.

However, selling privately isn’t for everyone. You will need to be comfortable doing your own valuation research, taking photos and writing an advert.  You will also need to have the time to take viewings and show someone round your house. Negotiating the final sales price is also not for everyone.  There will always be a need for an Estate Agent service but at Move To Private Property we can provide you the information you need to make the choice between going private or sticking with the traditional Estate Agent service.

To find out more visit 

www.movetoprivateproperty.com or contact Jon.middleton@movetoprivateproperty.com

More Great Guest Blogs

Our step by step guide to selling your home

Sam’s experience of selling with an Online Estate Agent

How should I choose an estate agent?

How much should I pay the estate agent?

What price should I sell my home for?

 

 

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