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SELLING PROPERTY PRIVATELY?
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After having two estate agents wanting to charge me £2500 to sell my small property - I wondered if anyone here had done it privately, sans estate agents?

Obviously big savings to be had, but the big issue seems to be that you suffer from poor 'visability' on the market, due to not appearing on the major sites where 95% of buyers seeem to look.

Minor issues too, like having to arrange your own viewings, field calls etc.

Anyone got any success/horror stories?

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ClubLupo
Technomotive - Games, Cars, Stuff

I had my house up for sale in 2005 with an agent but while visiting the place (it was rented out for a couple of years) I bumped into a handyman next door doing some work for his boss, a landlord of many properties. I mentioned mine was up for sale and I ended up selling direct to the landlord guy - zero hassle and as it was a private introduction I didn't have to pay the agents any money...

My neighbour used an online one. He took the pics he did the viewings and I think he saved alot. It was also put on right move to.

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For sure

Not quite the same but last time I needed new tenants I did it myself - free advert on Gumtree, about a dozen calls, booked three viewings but the first people to view said "yes" on the spot so I had to cancel the others. An agent would have charged me nearly £1k for that, and a few hundred from the tenants too. So £1-1.5k for fielding a couple of calls and doing one viewing. That is not good VFM.

Selling a house is obviously going to be a bit more involved than that, but next time I need to do it I'm definitely giving it a go on my own. Using an agent will be a last resort.

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It's not a Golf

£2500 sounds ridiculous for a small property anyway - haggle them down to 1%+VAT.

Bet they'll get you a grand more than using a self-managed sale too.

Could be a small house worth £~250k.

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Invisible Speakers

Matt lives in the West Midlands - even a big house isn't worth £250k here ;)

:lol:

in your experience what percentage of conveyancing work is for privately sold houses?

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My Flickr

Invisible Speakers

Are there any other national sites apart from right move for private adverts?

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Cheers

Rich

Back in the day <2007 it was possible, but its so difficult selling anything atm you cant really afford to cut out the marketing the agents offer.

Aim for 1% +vat and let them earn it :D

mattcambs said...

:lol:

in your experience what percentage of conveyancing work is for privately sold houses?

I don't think I've ever acted on one - must be a tiny proportion.

Rich, you can't advertise on Rightmove without being an estate agent, so they've got that sewn up quite nicely. Housenetwork are the one private sale agent I've seen around more than once and paying them (minimum of £594 including the VAT it seems) effectively buys you the advert on Rightmove. Bear in mind that with a traditional agent there's no fee until sale (except perhaps an EPC - should be a few tens of pounds only and if you bought in the last few years you may already have one). Housenetwork offer (almost) that option... for £990+VAT (and you still pay £195+VAT up front).

Jobbo said...

Housenetwork are the one private sale agent I've seen around more than once and paying them (minimum of £594 including the VAT it seems) effectively buys you the advert on Rightmove. Bear in mind that with a traditional agent there's no fee until sale (except perhaps an EPC - should be a few tens of pounds only and if you bought in the last few years you may already have one). Housenetwork offer (almost) that option... for £990+VAT (and you still pay £195+VAT up front).

So, for a few hundred pounds more you can let an estate agent do all the dog work for you. Doesn't see worth it on a
house worth under £200k.

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Invisible Speakers

Everything has its beauty, but not everyone sees it.

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Appreciate what you have. Because what you have now is one of the things you once prayed for. runescape accounts buy

rs2account said...

Everything has its beauty, but not everyone sees it.

I've been spouting that for years :D

Welcome my physically challenged friend -

Lots of horror stories using estate agents here. Despicable industry. My brother put a sign up in his window and 6 weeks later managed to sell his house. Someone drove by and knocked on the door. He saved a fortune but I think he was very lucky. Like you say, if you won't a house you look at the websites and agent windows normally. He even used a conveyancer rather than a solicitor and saved a bit there.


There are other channels, like Sarah Beeny's "Tepilo" for selling privately, and you can buy your own board from others.

It's just the exposure - all these places have barely any property for sale. I suppose it's a matter of getting them on as many places as possible.

My place is only worth £100k, so paying the equivalent of 2%+VAT seems a bit excessive. I should be aiming for at least 1.5% it seems.

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ClubLupo
Technomotive - Games, Cars, Stuff

We sold a similar property in Nottingham recently, it helped that the neighbours were asian and wanted their relatives moved in next door, I put a few flyers in a few letterboxes and job done, sold really quickly.

You should be aiming for 1%+VAT, Matt - even 1.5% is usually the agents' starting point for being haggled downwards.

Bear in mind you've got to be available to take calls, do viewings etc yourself if you sell privately. This could easily take up quite a lot of your evenings and weekends. Then the agent doesn't stop working when the price is agreed and solicitors are instructed; they keep in touch with everyone in the chain to make sure it actually goes through. They can be invaluable.

What he said ^

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My Flickr

Invisible Speakers

One of the houses my parents rent out was put on Gum Tree rather than via an agent. He had a call from someone the same evening, they viewed the next day and moved in the next weekend. Perfect.

I know he wasn't selling, but thought it might give you an idea.

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