subject: Selling Your House Without An Estate Agent [print this page] About 60-70% of house sellers use estate agents - why? Many owners find that marketing and selling a house without an agent a daunting experience. For instance, they: lack experience and confidence, are too busy, have safety concerns, or need assistance with legal issues and closure.
Sellers comfortable enough to handle a sale on their own save a considerable sum on commissions. Here are several ways to sell without an estate agent;
1. Handle the entire process. The seller puts a value on the house, obtains required legal documents, takes photographs, runs advertising, puts up for sale signs, takes calls and shows the house. After receiving an offer the owner negotiates with the buyer on price and terms. Finally, with contract in hand the owner arranges for a solicitor or closing company to complete closure.
2. Use a direct sale company. This type of firm buys the house directly from the owner without any costs. After inspecting the house, the company puts a value on it. If the offer is satisfactory to the seller, the sale takes place almost immediately. The legal process is handled entirely by the company. They even offer the option to buy the house and then lease back to the seller. This type of sale works well for those who need a quick, confidential sale.
3. Use a large web company. The company offers variously priced packages for set fees. Extra services include virtual tours or listings on large web portal home sites. The house gets exposure to millions of people. After signing up the owner completes an information form with pertinent information and downloads photos. Buyers are contacted directly by the seller from enquiries that come to the web company's phone line. Showings are set up the owner. The owner conducts negotiations.
4. Auction. Selling at auction is quick and final. Advertising for the auction is done by the auction company. Potential buyers participate in bidding after placing a specified deposit with the auction company. The auctioneer announces the terms of the sale, which may include a minimum bid, before beginning the auction. Once a satisfactory bid is received the auctioneer puts the hammer down. The sale is complete.
5. Directly contact buyers' agents. Go directly to buyers' agents with information on the property. Arrange showings. Negotiate offers. Finalize a contract and arrange closure. Fees to the buyers' agents are paid by the buyers.
by: Peter Jefferson
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