People who are thinking about selling their homes must decide if they want to hire an estate agent or sell on their own. An estate agent can often negotiate a higher sale price, but selling privately means avoiding their high fees. For those who are having trouble deciding which route to take, consider these pros and cons.
Hiring An Estate Agent
Most people sell there homes this way. There are many estate agencies throughout the UK that offer competitive services and pricing. Estate agents are able to list homes in a variety of venues, which ensures that the property gets maximum exposure to potential buyers. They also handle all offers, negotiations, and paperwork so that homeowners have less to worry about. Estate agents typically charge a fee in the range of 1.5% to 3% of the total home sales, with some asking even more. However, it is possible to negotiate a lower fee. Most local Palmer Snell estate agents in Westbourne working out of mid-size and smaller agencies will be glad to negotiate fees with homeowners. Those working out of large franchises may not be able to do this because of strict company policies.
Selling Your Home Privately
People who sell their home privately pay an average of £600 to list it on an online property market. A downside is that the reach of these websites are limited compared to the marketing abilities of an agent. Homeowners are responsible for everything from giving tours of the home to negotiating sales. The biggest question for homeowners to ask themselves is whether or not they are comfortable playing the part of salesperson. If this not the case, it is best to hire a pro. Estate agents are professionally trained to negotiate prices while average people may have trouble doing this.
Another option to consider is listing a property with an online property market and working with an estate agent simultaneously. This way, homeowners can attempt to sell privately, but also have an agent listing their home elsewhere. The homeowner can then go with whichever venture pans out first or most favorably. When doing this, it is important to be upfront with both parties. Draw up a clear contract with the agent to avoid paying fees to both parties in the event the home is sold privately.