The main benefit of choosing to sell your home yourself is avoiding the hefty percentage fees charged by your high street estate agents. This can be a great way of maximising your profit, but there are a few things to consider before you go down this route. The amount of work which goes in to selling a property is vast, and it is very easy to overlook some important areas if you choose to market and sell your property yourself.
Private House Sales – With No Estate Agent
A Realistic Asking Price?
One of the main factors behind a property not selling is an unrealistic asking price. Ensuring you value your property correctly is vital to attracting prospective buyers and avoiding your property being sat on the market for many months.
The property market is changing all the time, and even seasonal differences can have a major impact on the properties likelihood of selling. It is worth familiarising yourself with your local market, and investigating any trends which you may have spotted. This will then help you make an informed decision on the best price for your property.
Getting Your Property Seen Online
With 98% of buyers starting their search online, using sites such as Rightmove and Zoopla is key in getting your property seen by as many prospective buyers as possible. Advertising on these sites isn’t as easy as you may think; you need to be an established estate agent and so selling your property privately will exclude you from these sites. As a result, you will miss out on a huge captive market and will struggle to generate the same interest via your own social media and online presence. Here at Spearhead, we list your property on Rightmove, Zoopla, PrimeLocation, our website and our social media pages, meaning you get the maximum exposure needed to sell your property as quickly as possible.
Enquires, Viewings and Feedback
Once your property begins to gain traction online, you will be inundated with phone calls and emails asking you every question imaginable and arranging viewings. This is a massive undertaking and you should not under estimate just how much time this takes. At Spearhead, we take care of all calls and emails, ensuring all questions are answered as soon as possible, and continuing to generate that important interest in your home.
Assistance to Completion
Getting those offers in allows you to finally see a light at the end of the tunnel. However, it is not so much a light than an illusion. There is still a minefield of solicitors, contracts, chains and surveys to negotiate, and this really can consume every waking moment. Here at Spearhead, we know how stressful these weeks can be and so are here to support and empower you every step of the way. We are on hand to offer guidance, chase solicitors and communicate with the buyers on your behalf, to ensure the completion date happens sooner rather than later. Unlike many online estate agents, we don’t get paid until completion day, meaning we will continue to battle on your behalf right up until the very end!
Buying a Property Without an Estate Agent
Deciding to buy a property without an estate agent is no small decision and can leave both yourself and the vendors in some tricky situations. Although you will be able to find properties for sale which have been privately listed on external sites such as Gumtree, the lack of an official estate agent valuation can leave you paying way over the market value. Using an estate agent, ensures that the valuation which has been given to the property is in line with the current and local market, the trends within the area and what we predict the market to do in the future.
Having this realistic valuation is also vital when going forward for a mortgage, as the bank will only lend if they are confident in that value. A professional and reputable agent gives both yourself and the mortgage lenders the peace of mind that this is a true reflection of the market, keeping the process moving forward. It is also nice for you, as a buyer, to have that point of contact who you can run any concerns, queries or issues past, safe in the knowledge that they have been through this exact process countless times before and will do everything they can to help you.
Renting a Property Without an Estate Agent
Listing or searching for a rental property on an unregulated property site can prove very risky. There are numerous checks and regulations which must be adhered by the landlord, including gas safety, Legionnaires’ disease, fire safety etc, and only once all of these are up to date will an agent list a property for rental. This gives the tenant peace of mind that they are moving in to a property which is completely up to code and is safe to live in.
From a landlords point of view, having an agent assisting with finding a tenant can prove extremely useful. They are able to complete thorough background reference checks on all potential tenants, and offer their personal opinion in which tenant may be best suited for the property (which isn’t always the one who is offering to pay the highest monthly rental). When a tenancy ends, the agent will be on hand to issue any termination notices, and also offer support if there are any complications. Having this third party involved, is a great support to both sides, and enables situations to be resolved swiftly and legally whilst limited any stress.