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Should you go it alone?
It is estimated that 90 per cent of all vendors use an estate agent to sell their property. But with hefty fees and often less than trustworthy candidates looking after your sale, some are choosing to brave it alone
We teamed up with the experts at The House Sales Advisory to weigh up the pros and cons.
Why bother with agents?
Estate agents are property professionals. You pay them good money for their knowledge and guidance in what can be a bewilderingly complicated business, and their core duty is to ensure you the best price possible for your sale.
A good estate agent does the following:
- Offers truthful advice
- Arranges and conducts viewings, making sure all buyers are properly vetted and ready to buy
- Supports sales all the way through to completion
- Keeps vendors informed of all progress
- Passes on all offers made on the property
But unfortunately, the reality can be very different. Estate agents don't tend to rate highly in the popularity stakes, and research shows it's not just bad press.
The facts
A recent study by The Office of Fair Trading highlights serious concerns over the way estate agents serve the public. A Which? investigation found serious violations of the law and a massive 50 per cent of consumers voicing dissatisfaction with the service they received.
Of course, there are the 'good ones', but if you want to avoid the risk altogether, there are four key factors to put into place:
1. Price your property competitively
Getting your house valued is the first step in the selling process. Ring round some local estate agents and arrange a few valuation appointments. This is completely free for you. Make sure you get a good representation of agents and take an average of the estimates.
2. Present the property well
It's an obvious seduction technique, but hugely effective. Good buyers will have the vision to see beyond clutter and bad decor, but you can just as easily cut the work for them. See our 8 steps to a quick sale for advice on making your property as appealing as possible.
3. Take your pick of the marketing options available
Eighty per cent of buyers start their house search on the internet, so concentrate your efforts, and your budget, here. The most popular sites currently are Rightmove, Find a Property, Primelocation and fish4homes, so getting your property up on some or all of these is a must if you want to secure a successful sale.
4. Find a decent conveyancer
It takes an average of 14 weeks for the average UK conveyancing solicitor to expensively shepherd your move from 'offer acceptance' to 'completion'. It doesn't need to take this long. Do your research on the internet and ask friends for recommendations. You'll come across some bargain basement fee charges, but expect to pay £400 - £500 (not including disbursements) to secure the services of a top quality conveyancer.
Useful links:
At the House Sales Advisory you will learn how to get the best from estate agents, Online conveyancing solicitors and mortgage lenders. You will also find free guides on property valuation, selling property privately and how to deal with cash house buyers.
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