HOMEOWNERS looking to sell their homes have traditionally hired estate agents to find buyers and ensure the sales go smoothly.
However, with households tightening their belts, more and more vendors are contemplating the DIY route to finding a buyer, which could save them thousands of pounds.
In fact, new findings from Propertydatingagency, an introduction agency for buyers and sellers, suggest that one in five people considering selling their homes over the next six months are looking at alternatives to the traditional estate agent.
“The property market slowdown and house price falls means it now takes almost seven months to sell a property,” says Stephen Foden from Propertydatingagency. “This is prompting sellers to look for other ways — and cheaper ways — to sell.”
Those who are considering shunning the traditional route have a number of options available to them.
These include private sales, selling directly to friends or family, advertising in the local newspaper, putting up a “for sale” sign outside the property, and going online.
Selling over the internet is one of the most popular alternatives and classified ad sites such as Gumtree.com and Craigslist.co.uk enable vendors to cut out the middleman.
It is up to you to decide how much detail to provide in your advert but you can improve your chances by adding photographs and in some cases even a YouTube link to help you market your home to potential buyers.
Yannick Pons from Vivastreet.co.uk, another site that provides free classified ads, says there has been a marked increase in private sale ads on the site and also home swap ads where sellers try to swap their properties with other interested sellers.
According to its figures, the number of new home swap ads in the third quarter of 2009 was double the number in those months the previous year. “A growing number of sellers are bypassing estate agents altogether to sell their properties privately,” says Pons.
“The advantages of using home swapping to sell a property over the traditional estate agent are twofold. Sellers can save thousands of pounds on estate agent fees and are also guaranteed to be entering into a chain-free purchase.”
The increase in the number of people prepared to cut out the estate agent has given rise to a whole host of new dedicated property-selling websites.
Propertydatingagency, for example, puts sellers in contact with buyers and allows them to talk directly to each other.
Sellers pay a registration fee of £10 that entitles them to contact a set number of buyers to gauge their interest, while buyers registering on the site state exactly what they are looking for in terms of property, price range and whether or not they are cash buyers.
TV presenter Sarah Beeny has also launched a new property website called Tepilo, which aims to “hand-hold” vendors through the home-selling process.
Sellers can personalise their descriptions and there is no charge for uploading details. You can also sort out professional floor plans and home information packs via the site.
“It seems bizarre that it could cost you around £10,000 to hire an estate agent to sell your house when you could do this yourself for free,” says Beeny.
“There is a general perception that selling your home is daunting and incredibly complex but this isn’t the case. All is required is a little bit of work and effort — and you can make some big savings.”
But not all agree that DIY home-selling is plain sailing.
“Going it alone can be a lot of work and hassle,” warns Melanie Bien from mortgage broker Savills Private Finance. “You have to do everything yourself including setting the price, marketing the property, and showing people around.”
She also warns that it could end up costing more if you don’t get the price right and fail to negotiate hard with the buyer. “Estate agents are experienced at selling homes and are trained to get the best possible price for a property,” she says.
“They will have a better idea than you as to what the property is worth and will have a high-street presence and website to assist with marketing the property. They should also have potential buyers on their books who may be looking for your type of property.”
Bien urges potential sellers to think carefully before cutting out the middleman. “Many people who go it alone put a ‘for sale’ board outside the property, but this only works if there is good foot-fall past your home, or if it is on a busy main road,” says Bien.
“Others advertise on websites or in the local paper but it is difficult to get your advert to stand out compared to an estate agents’ slick website. Taking photos to use in your advertising may also be difficult as you are not a professional photographer — so you may fail to do your property justice.”
Sellers who still want to stick with the traditional method of hiring an estate agent to sell their home can expect to pay an average charge of between 1.5 and 2 per cent for sole agency — this means that only one firm is allowed to market your home.
If you want more than one firm to help you sell, you will probably pay the successful agent around 3 per cent of the sale price as a fee.
When you employ an estate agent you are signing up to a set of standard terms and these state that the agent will try to sell your property with a certain period of time.
This agreement is legally binding so it is important to ensure you understand the terms and conditions. You also need to check with your estate agent as to what would happen if you have your home on the market with that agent but end up selling your home some other way, for example to a friend of a friend via word of mouth.
“This can be a bit of a grey area,” warns Melanie Bien from broker Savills Private Finance. “It depends on the wording in the terms and conditions and your rapport with the agent so make sure you read the small print.”
Richard Tuck from turtlehomes.co.uk recommends a “half way house”, by using an online estate agent you can combine the cost savings associated with private selling whilst still having a full estate agency service. The only catch is that you will have to do the viewings yourself. But as Richard explained “”the vendor knows their property the best and therefore is the best person to show people around”.
Are you looking to sell your house? If so then you’ll want to do so without allowing too much time to pass. Otherwise your house will begin to lose some of its value. This occurs often when distress sales and leaves the seller looking at their various options.
Most people begin by advertising their house with a real estate agent. You would have to pay fees for the solicitors to create sale agreements. They would have to verify the deeds and title to the property as well. You’d also have to spend money on fees for the agent and pay cutbacks which would setback your profit. These fees would add up over time and before long you would have spent more money then you would have wanted to in the first place. This is something that you should think about when selling your house.
There are many real estate agents that will reduce the value of house to make sure that it sells as quickly as possible. You will still have to pay the expensive fees regardless. There is other ways that you can go about selling your house including using online estate agents. Many real estate agents run their own websites and have advertisements for different properties on their websites.
Most agents do not concentrate solely on their online endeavours. Most make less money online so they concentrate more on their offline sales. This causes many real estate agents to neglect their websites so that they can focus on their offline practices. This causes many online estate agents to be unreliable. There are many agents however that are capable of making a lot of money using the internet so they use both the internet and real world to make sales.
Many people decide that selling your house online is the best solution since it is a simple process and allows them to avoid blood sucking agents who are only interested in making as much money as possible.
Most online estate agents will only require you to fill out an online form. Most don’t require you to pay any money at all. This online forms would be very simple asking for only your name, address of the property and contact numbers. You’ll start receiving responses within twenty four hours of the submission of the form. This is one of the quickest and easiest methods of selling your house.
As mentioned above, using online estate agents allow you to sell your house online easily and quickly. You’ll also find that online estate agents also allow you to sell your house while paying much less money on fees and commission. Your house will receive a maximum amount of exposure.
People from other areas of the world would be able to see the advertisement that you have put online. You also don’t have to worry about suffering loss of profits that are common in distress sales.
The National Association of Estate Agents has admitted the days of the traditional high street agency could be numbered due to the popularity of property websites.
The days of the estate agents’ ‘big shop front’ may be nearing an end In the last two years, one in four estate agents in the UK has closed down. Meanwhile, the online property market has been booming, with a 35% growth this year in the number of property searches on Google.
Property search engine Rightmove says that 90% of all homes on the market can be found on their site. Philip Bullman, of the NAEA, told Sky News Online that the internet posed a threat to high street branches but insisted that there would always be a role for an agent. “I do think there’s an opening for a virtual estate agent out there but you still need the local experience and the people on the ground,” he said. “Most buyers don’t like to negotiate face-to-face with the seller over prices and they prefer to use a middle man. “Home Information Packs (HIPS) can also be quite complicated and many people would want an agent to sort that for them. “But yes, I think maybe the day of the big shop front is nearing an end.
” TV presenter and property expert Sarah Beeny said that circumventing estate agents and selling your home online independently can be quite straightforward. She has set-up a free website called Tepilo which helps homeowners to sell their property without having to pay hefty fees. “It’s actually easier dealing with things yourself – we find our mortgage ourselves, we find our own holidays, we book our own flights,” she said. “The internet has empowered the average person to deal with things and there’s no actual reason why they can’t deal with selling their house.”
Our marketing network is expanding. I discovered this morning our property listings and web traffic from Trovit and Vebra.co.uk.
Our marketing network attracts approx 80 million buyer searches every month – pretty impressive we think.
To find out more visit online estate and letting agent turtlehomes.co.uk
Online banking, shopping delivered to your door, holidays booked with the click of a button! From ebay to Amazon, the power of the internet has evolved the way in which we buy & sell. With 84% of active home movers starting their search for property online the internet is a must have tool for any successful modern estate agency. The internet has now become the main driver of viewings leads for estate agents. Portals and websites such as findaproperty, rightmove and primelocation have become essential in the ever growing battle for market coverage.
How does this affect me you may ask?
Introducing turtlehomes.co.uk: A fresh and revolutionary approach to selling or renting your home ONLINE. turtlehomes.co.uk are an ONLINE estate agency with a twist, fusing traditional agency methods with new and innovative technology their aim is to provide you with a quality service at the fraction of the cost of your local high street agent. For Just £199 + Vat fixed marketing fee & £399 + Vat on completion, or £125+VAT for our Landlords package turtlehomes.co.uk will provide you with
• Colour photos, floor plans,
• a distinctive ‘for sale’ board,
• extensive internet coverage on the UKs top property websites including Rightmove, Primelocation, Findaproperty, Propertyfinder, Ebay, Globrix and many more; attracting approx 80 million buyer searches every month.,
• daily mailouts of your property to extensive mailing lists,
• free price guide,
• unique vendor login allowing you to track your progress, Sales progression through to completion from your account manager,
• Viewings arranged, monitored & feedback acquired,
• No contract tie in period,
• No multi agency fee’s
• a personal & friendly service!
“Our team have spent many years working for high street estate agents we have seen the internet evolve and improve the way in which agents work. We have had to adapt, buyers require information (24/7) here & now, vendors needing that selling edge over competitors. With turtlehomes.co.uk we believe we have the right mix of latest technology and traditional customer service all provided at a low cost fee”.
So how do turtlehomes.co.uk provide all this and still charge a low fixed fee I hear you ask….! Simple, as they are an ONLINE estate agent they don’t have expensive overheads such as rents and rates. By using the latest technology and computer software they have successfully streamlined their systems to ensure that all of their time is spent on the important stuff – selling your home.
We are no ordinary online estate agency; by providing the services of a high street agent and dramatically lowering overheads we can provide this new and modern service with the saving passed directly to you the homeowner.
Where did the name turtlehomes.co.uk come from?
Well with the service and fee being so unique to the local market we thought it necessary to give the company a like minded name! The best way of selling houses in this or any market is to be noticed and stand out, a company name that customers & purchasers will easily remember!
Whether you are buying, selling or renting click online or call turtlehomes.co.uk on 0845 073 6633 to see just how much you could save!