An increasing number of properties in the UK are now being sold privately. The number is still fairly low, with an estimated less than 10% falling into the category of private property sales, but these numbers keep climbing as people learn about the alternatives and the success of these. In a nutshell, estate agents and their expensive commissions can be by-passed because of the connectivity that the Internet provides. When you’re able to reach an incredibly wide audience through various websites, the fact that the agent has their own database of prospective buyers is no longer as attractive as before.
The advantages of selling online
For a start, those companies that list your homes online are charging significantly lower fees than those of traditional estate agents. One such company claims that its fees are 85% lower than the average high-street agency, which is a massive saving. The companies usually offer a range of different payments depending on the service you require. Some ask for a flat fee up-front and then a further fee upon completion when your property is sold. Others offer an interesting mix of fees, whereby you can either pay a lower amount upfront, or pay nothing until your home is sold. At this point, the fee you would pay is higher. This arrangement is basically one where you’d have to take a leap of faith. If you really believed your property would be sold, you could pay the lower fee from the outset. If you decided to hedge your bets, you’d pay only when there was a successful outcome. Having this type of fee structure is most convenient for many homeowners.
Concluding a sale
Very few people will buy a home sight unseen. This is when agents have usually arranged for viewings and have taken people around your property. When you sell online, you would arrange this yourself, but many people enjoy this and say that they normally conducted the viewings even when an agent had been engaged. Few people feel qualified to enter into negotiations when an offer is made, and again you can find companies, such as Mouse House, that will conduct these for you and will strive to get you the best price for your home. They will then handle all the paperwork through to completion.