Whilst selling without the help of a traditional estate agent might sound scary, you could potentially cut out fees and months on the market altogether. There has been a shift in the way properties are sold, with more and more people turning to alternative methods. Online estate agents, property auctions, private sales and home buying companies are all rivalling the traditional bricks and mortar estate agents – each presenting their own advantages and disadvantages.
If you have decided you want to sell your property the next step is to work out the best way to do it. We highlight some of the best below…
How traditional estate agents operate
If you do choose to sell with a bricks and mortar estate agent they will likely be local to you and have extensive knowledge of the property market in the surrounding area. This is ideal if you intend on moving locally as part of your sale. Typically, estate agents charge fees between 1% and 2% of the final sale price of your home. Whilst this may not sound extortionate, 2% of £250,000 is £5K – money we think you may not want to party with. However, if the market is slow, you have a quirky home or simply want the entire process managed for you, then the commission may be worth the investment.
Online estate agents
However, in todays world sellers have a multitude of options when it comes to selling, one of these being online estate agents. If you’re concerned about estate agents’ fees, an online estate agent could be the answer you’re seeking. Some charge absolutely nothing, whereas others charge a set fee between £300 and £1,500 – this all depends on the company. Furthermore, many won’t expect you to part with a penny unless they sell your home. Whilst you may not get the face-to-face interactive like that of a high street agent, most online estate agents are available via telephone or email whenever the customer needs them.
Auctions certainly have their positives, such as the likelihood of a quick sale and people outbidding each other – meaning more money for you. If you manage to sell your home at auction the process takes around 10 weeks from beginning to end, which is something to bear in mind. There is no guaranteed sale with a property auction. However, if successful, the buyer is legally tied in. A downside of auctions are fees are more expensive than estate agents, normally between 2% and 3%. Online house auctions are another option becoming popular and work in a similar way, albeit virtually.
Private house sales
If you have the time and some sort of background in property you could opt to sell your home yourself. Private sales are a great way to avoid any unnecessary expenditures. You will need to market your property yourself – portals such as Rightmove and Zoopla don’t accommodate private sales. However, there are other platforms that can help you sell your house, some have even used eBay. You will need to be confident in marketing your home as well as hosting viewings and liaison with any interested parties.
House buying companies
If you need a quick house sale, then a house buying company could sell your house much faster than a high street vendor. Each company is different, but you will need to remember that they will offer you a lower than market value price for your home. Often these companies are cash house buyers, meaning they have the funds available to take your home straight off your hands. This means you will benefit from a chain-free stress-free property sale.
At SOLD.CO.UK we offer two ways to sell your home. We can either guarantee a house sale by buying it from you ourselves. Or, we can find a cash buyer for you with our Enhanced Listing service. Either way, each service is fully managed by us and you won’t need to spend a penny – we even cover your legal fees.
So, if you’re interested in selling your home without a traditional estate agent get in touch with us at SOLD.CO.UK today. Contact us to find out more. Otherwise, book a free valuation online today and get the ball rolling.