With a growing number of homeowners now looking at selling a house without an estate agent, it’s important to take a look at the pros and cons of a DIY house sale. Typically, an estate agency will charge somewhere between 0.75 and 3.5% of the eventual selling fee to advertise your property, market it and sort out negotiating a price when a buyer shows an interest. It’s worth remembering that whilst an estate agent is a cost to be considered, they may be able to sell your property for more than you can get doing the selling yourself. Here we take a look at the pros and cons of selling your home without using an estate agent.
Valuation is key when going it alone
Obviously it’s important to make sure that your property is market-ready. Make sure that, at the very minimum, the house is habitable, clean and well decorated. If it has a garden, secure fencing and a well-tended interior will ensure optimal interest. Once the house is in a marketable condition, obtaining a suitable valuation is important. You can do this yourself, through looking at the prices similar properties are fetching on sites such as Rightmove and Zoopla, or by taking advantage of the FREE, no-obligation valuation which some online estate agent companies (including us) will provide.
Once you’ve decided on a suitable price, it’s time to get your home onto the housing market. Although there’s no reason why you can’t sort out a valuation for yourself, it’s worth noting that a local estate agency will usually have an excellent knowledge of the nearby market, as well as in-depth knowledge of what features are likely to make or break a sale. In some cases, they can provide valuable expertise on how to increase the worth of your property for relatively little outlay, helping you get the most from the sales process.
The right pictures can make a real difference
It’s a well-known saying that a picture paints a thousand words, and that’s certainly true when it comes to properties. Good-quality photos are vital in order to sell your house successfully. Whilst an estate agent will arrange for pictures if you use one, if you’re selling privately, you’ll need to arrange them yourself. Use a good-quality camera, or hire a professional for best results. Obviously make sure the property is clean, tidy and well-lit before taking pictures. Experts suggest that attempting to create the impression of an aspirational lifestyle is the most effective look to go for. Don’t forget pictures of the garden and any stunning views your property may benefit from.
Where to advertise
If you decide not to use an estate agent, there are a number of other places where you can advertise your home. There are various online outlets which enable you to advertise for free, as well as online estate agents and property portals who charge a fixed fee. In addition to digital methods of advertising, it’s also worth putting an ad in the local paper, making a sign for outside your home and sticking details in local shops or local noticeboards. Many “real life” methods can be very successful, particularly given that in many cases prospective buyers don’t live far away. Remember that you won’t be able to advertise on Zoopla or Rightmove unless you use an estate agent or similar professional. When a prospective buyer shows an interest, you will need to arrange viewings and show people around your property.
Accepting an offer on your house sale
Sticking to your price and/or negotiating successfully can be one of the trickiest parts of selling a house without an estate agent. If a prospective buyer makes an offer, ask them to confirm it via email, then instruct your solicitor or conveyancer as you would for a sale undertaken through an estate agent. For trickier sales, you may wish to instruct a solicitor; more straight-forward sales can often be dealt with more cheaply using a conveyancer. The final price of the legal work will vary depending on each sale. Some conveyancers offer a fixed rate, which may save money.
What other costs need to be taken into consideration
Whilst you won’t be paying out for estate agent fees, selling a house without an estate agent will still come with costs. You will still need to pay for: photographs; advertising; marketing; legal costs, stamp duty; and the cost of removing your possessions from the property before the exchange of contracts takes place.
Of course with UK Property Cash Buyers, you wouldn’t have to worry about any of the above. We can offer you a completely free valuation service and give you a rough estimate over the phone. If you like what you hear, we will take all the hassle out of the sale. There are no fees to pay throughout the service meaning no surprise costs once you get the ball rolling. Take the fear and unknown out of selling your home and call us today. Selling a house without an estate agent has never been easier!