Is it a good idea?
Whilst many sellers may have pondered the advantages of selling their home without the assistance of an Estate Agent, the difference between theory and reality can be quite daunting. Whilst DIY-selling promises to save thousands of pounds on estate agency fees, will you miss out on a better deal for your property due to a lack of expertise?
How much can I save and is it worth it?
Let’s be honest here, using an Estate Agent means they have to do all the hard work and you can leave the matter in their hands. They will schedule viewings, contact potential buyers, negotiate terms and keep pushing the deal ahead. But don’t forget that they will want paying for this service, often handsomely. Estate agency fees can differ vastly with charges being anywhere between 0.75 per cent and 3.5 per cent of the property price.
Let’s do a quick calculation. The Land Registry House price report published on 28th July 2015 stated that the average house price outside in England and Wales (outside of London) stood at £181,619. Using the national average of 1.8% that would be a fee of £3269.14. This cost is usually plus VAT! Use our handy calculator to work out how much the % on your house sale will be with our Moving Cost Calculator.
In comparison some online DIY sites will offer a listing for as little as £40. Is it sounding more attractive now?
Where can I list my property?
When it comes to selling your own property online, there is a wide range of choice available. Some sites may just offer you a simple listing. Others will offer you a much more comprehensive service such as taking pictures, arranging viewings and assisting with negotiation. Depending on the site you choose the fees range from £40 to £600.
Key Tips for DIY Sellers
Think about how much time you have to dedicate to the sale of your property. If you need someone to assist you in negotiations or managing viewings then choose a site which can help you with those arrangements.
Quality pictures are a necessity. Perhaps consider investing in a good camera or ask a friend if they could help you.
Get measuring. You will need to prepare accurate floorplans to provide details of the sizes of each room.
Get confident in your sales patter for prospective buyers.
Note that the vast majority of buyers search rightmove.co.uk for their next property. If you are undertaking a DIY sale through a third party website, ensure their properties are listed on rightmove and zoopla. These websites have strict rules about self-selling property sales.
Final Checklist
- Set the price - Look at nethouseprices.com or Zoopla for an indication of the value of similar properties in your area.
- Set the scene - Create some brief and simple texts about your house. Try not to write with emotion but stick to hard facts, the pictures do most of the selling anyway. Run this past a friend for an objective opinion.
- Pictures - The pictures are the best way to sell your home so make sure they are excellent quality. Also think about the key selling points of your home. If this is family home with a great kitchen make sure this features at the forefront of the listing.
- Viewings - If you are working long hours then you might need to enlist the help of relatives or friends to show people around your house. Furthermore, if you are conducting the viewings yourself think about safety. Showing strangers around your house could be dangerous so make sure you are not alone and ensure you have verified contact details of the potential viewer.
- Keep your head - When it comes to negotiations then remember to set a price you are willing to accept and don’t budge.
- Accept the offer - Once you have agreed a price verbally you can set the ball rolling
- Instruct a solicitor - You will need to ask a solicitor for help when it comes to the legal work, so make sure you choose a good one. Get quotes from reallymoving.com for quality conveyancing solicitors.