No, you don't need an estate agent.
- Date: 2007-01-24 - Word Count: 579
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Does this sound familiar? You decide to sell your home, you shop around estate agents and go for one that gives you a really favourable valuation. Your house then stays on the market for months and months after which you knock a huge chunk off the price and wait some more before finally finding a buyer. You then hand over a fat commission fee to the estate agent and wonder just what the hell you're paying them for?
No doubt many estate agents would try to justify their fat fees on the grounds of expertise and professionalism.
Well in 2005 a Consumers Association investigation where they got a number of estate agents to give valuations produced such widely varying prices they concluded that most estate agents don't actually seem to have a clue as to property values. So much for expertise.
And then there was that episode of TV's Whistle Blower programme that illustrated so graphically how estate agents - even those working for big high street names - can and do line their own pockets by cheating their clients. So much for professionalism.
Now it has to be said that most estate agents are undoubtedly honest. However, in a country where any Tom, Dick or Harry with an office or a suit can set themselves up as an estate agent it's inevitable that the industry will attract some Del Boy types whose only concern is making as much money as possible. Especially when there's as much money on the go as there is in today's housing market.
Of course if you sold your home yourself you could not only eliminate the risk of falling prey to a crooked agent, you could save yourself a useful chunk of change on commission fees too.
Well, not only is selling your own home well within the capabilities of the average person, thanks to the Internet DIY home selling is now a simpler and more realistic proposition than ever.
The computer age has given rise to a host of property web sites that make advertising your home on a national basis easy and affordable, while the Land Registry web site even enables you to find the actual selling price of every home sold in England and Wales since April 2000.
When it comes down to it, selling your own home is largely a matter of common sense and proper preparation, doing things like making sure your home is in good condition and studying the housing market in the run-up to putting your house on the market.
Now consider that a lot of this (especially with regards to making sure your home is in good condition) is stuff you would be - or should be - doing even if selling through an agent, and the amount of extra work involved in going the whole hog and selling your home yourself isn't that great.
Especially not when you consider that bit of extra work can potentially save you thousands of pounds worth of commission payments.
Selling your own home can not only save you money but time too, with buyer and seller able to deal face to face and come to an agreement quickly - immediately even - without having to keep going back and forth through an agent.
Do it right and maybe you'll be able to do what I did and find a buyer prepared to pay the full asking price in under a week.
So who needs estate agents?
Graham Bell is author of How To Save A Fortune When Buying Or Selling A Home and webmaster of www.propertymarketknowhow.com
No doubt many estate agents would try to justify their fat fees on the grounds of expertise and professionalism.
Well in 2005 a Consumers Association investigation where they got a number of estate agents to give valuations produced such widely varying prices they concluded that most estate agents don't actually seem to have a clue as to property values. So much for expertise.
And then there was that episode of TV's Whistle Blower programme that illustrated so graphically how estate agents - even those working for big high street names - can and do line their own pockets by cheating their clients. So much for professionalism.
Now it has to be said that most estate agents are undoubtedly honest. However, in a country where any Tom, Dick or Harry with an office or a suit can set themselves up as an estate agent it's inevitable that the industry will attract some Del Boy types whose only concern is making as much money as possible. Especially when there's as much money on the go as there is in today's housing market.
Of course if you sold your home yourself you could not only eliminate the risk of falling prey to a crooked agent, you could save yourself a useful chunk of change on commission fees too.
Well, not only is selling your own home well within the capabilities of the average person, thanks to the Internet DIY home selling is now a simpler and more realistic proposition than ever.
The computer age has given rise to a host of property web sites that make advertising your home on a national basis easy and affordable, while the Land Registry web site even enables you to find the actual selling price of every home sold in England and Wales since April 2000.
When it comes down to it, selling your own home is largely a matter of common sense and proper preparation, doing things like making sure your home is in good condition and studying the housing market in the run-up to putting your house on the market.
Now consider that a lot of this (especially with regards to making sure your home is in good condition) is stuff you would be - or should be - doing even if selling through an agent, and the amount of extra work involved in going the whole hog and selling your home yourself isn't that great.
Especially not when you consider that bit of extra work can potentially save you thousands of pounds worth of commission payments.
Selling your own home can not only save you money but time too, with buyer and seller able to deal face to face and come to an agreement quickly - immediately even - without having to keep going back and forth through an agent.
Do it right and maybe you'll be able to do what I did and find a buyer prepared to pay the full asking price in under a week.
So who needs estate agents?
Graham Bell is author of How To Save A Fortune When Buying Or Selling A Home and webmaster of www.propertymarketknowhow.com
Related Tags: selling your home, selling your home without an agent, diy house selling, uk house selling
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