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Selling a property without an estate agent. Tue, 29 Oct 2013 21:35

Have you ever thought about why actually you would need an estate agent to sell your property?

Firstly they usually have to over-value the property, in order to try and win the instruction from the vendor. It's very unlikely that a home owner will ever instruct the estate agent who has been most realistic in their valuation, however maybe it's that actually they are being most truthful which is very often the case.

Estate agents will usually list the property online, and on their company website, and then sit back and wait for the phone to ring with enquiries. In the meantime they will usually only call the vendor when they have a viewing booked (if at all) and if you are lucky, they might call with feedback - which usually highlights the negatives as opposed to the positives.

According to various sources, there are currently over 550,000 properties on the market in the U.K., with a very low percentage actually selling within 6 months of them going to the market for sale.

This can be for various reasons, however most likely because either: 

  • The property is overpriced
  • Too small, and conversely too large.
  • Buyers are not in a position to move
  • Buyers can not raise the finance required.
  • There is an imbalance in the amount of properties on the market, and the weak demand which creates too much supply.
  • The property is in need of modernisation which puts applicants off.
  • Lack of parking
  • Road too busy

When you instruct your estate agent, you might not hear from them for weeks, however I have heard stories from vendors where they have not heard from their estate agent for months after signing their contract. This is appalling, and creates lots of stress and uncertainty for the one who is looking to sell their house.

Usually an estate agent will insist that you sign a 12 week sole agency agreement, and pay their fees of 2% + VAT, if they introduce the successful buyer for your property. This means that you are locked into their contract for at least 12 weeks, and you might have to put up with lots of stress and worry along the way.

What's more, a third of property sales fall through, so even if you are lucky enough to find a buyer, there is still plenty of chance that your house sale might fall through creating implications for you, especially if you have found your dream home, and there is a further chain involved. If you really are under pressure, this could then have a knock on effect on the price, and you might end up taking a lower offer for your property.

As an alternative, sell your property to cash buyer such as our house buying company, and receive a fast sale of your property with no fees and flexible timescales to suit you.

Find out why we are different to other quick sale house companies >>> here.

Dream House Buyer are a family owned property company that considers all types of property, and we buy property with sitting tenants too. We will make an instant cash offer for any property in the UK, regardless of the size, location, condition or value.

We will buy any property that you might consider a problem - including property with sitting tenants, flats with short leases, problem tenants, unmortgageable and structurally damaged property.  We also buy ground rents and portfolios. If you think we can help, then please invite us to make you an immediate cash offer for your property.

Contact us on 0800 1577 497 or email us info@dreamhousebuyer.co.uk

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