There is little question that selling houses privately is gaining in popularity. Currently only 2% of homes in the UK are sold privately, but Nick Marr, director of top private sales site The Little House Company believes this will double to 4% within a year, and keep doubling year on year until it is more like 50/50.
Figures and arguments aside, there are undoubtedly a great deal of reasons to sell your house privately; here are three of the top ones.
1: There is No Explanation Not To
Do you know that it is possible that your real estate agent will not receive any payment if your house is sold in private considering that you now can stipulate it in your contract with them? Since you can now stipulate that clause in the contract, there is no reason from now on that will hinder you from advertising your home in any way you desire which makes it possible for you to take benefit of all the free-to-list available line like the private sales portal Tepilo and internet leaders Gumtree and Google Maps.
2. More Coverage is always a good thing
According to surveys, up to 85% (several studies at 85% while real estate agent surveys put it in 60%) of people searching for property to buy start their search on the internet. Nowadays, real estate agents are also advertising on the internet and is making use of the website Rightmove which only make room for those who belong to their profession.
However, there appears to be a an important part of the buying public that do not want to bargain with real estate agents possibly because of their bad reputation or a distressing experience in the past or it could possibly be both. You can also find many people that reject the attempt of capitalist giants to exert influence and reign over the housing market in the way Rightmove is accused of doing.
All these people still buy houses, and the only way to target them is by selling privately, and advertising on private sales sites.
Moreover, the very first thing that I will do when I want to select a property to buy or rent, I tend to use the internet through Google. The visibility of your property to private sales buyers will get a huge boost if you decide to advertise on private sales website that ranks high on Google.
3. Spend less
It is unlikely that we can convince a real estate agent to accept a 1% commission no matter how we persuade or negotiate with them. Your real estate agent will get 1,700 – 17,000 if bases on the average of the sold property which is 170,000 nationwide – and they will get the amount for what? Almost nothing you could hardly do yourself and buy a new car with the 17,000 instead.
Final note:
As you can see, these are reasons why everyone should at least try to sell their house privately. By advertising on the sites buyers in your area will be directed to via search, Google Maps property search, and things like the local paper and shop boards etc, the least you will do widen your net and increase your chances of selling your house quickly and for a good price, the best you could do is save yourself a kid’s college fund in an estate agents’ commission.
So, if you’re interested in selling your house quickly, why not give private selling a try?
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