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How To Save Money On Estate Agency Fees

If you are currently trying to sell your home, you will understand where I am coming from when I say estate agents are very expensive! Most of them expect to receive up to 3% commission for very little work on their part, other than nailing up a for sale board, taking a few photos and adding the property onto Rightmove. The rest is really just a waiting game!

There are however a new breed of estate agency services hitting the market that allow you to sell your house online, using their branding and exposure, and you simply handle your own viewing and negotiate your own sale. These type of estate agents are particularly popular with the lower end of the market, property priced under £100,000.

How it normally works is; you pay a low upfront fee, to list your property with the agency. After that you take your own photos and upload them on their website. In turn they will then place your photos and listing on popular sites like Rightmove and Zoopla. Any enquiries are pass directly to you to organise your own viewing, and you are responsible for accepting or denying any offers that come in.

These types of sales are saving vendors hundreds of pounds in sale fees, and really are revolutionising the market. I firmly believe that there will always be a place for the traditional estate agency service, but if you are looking to save on the cost of selling your house, this is one way to do it.

If you have listed your property using a service like this and you are finding that you aren’t getting the desired amount of calls that you had hoped for, the answer likely doesn’t lie in turning to a traditional estate agent – instead refine the listing that you have and make it more appealing.

Consider having a professional photographer come and take proper photos of your home to add to your listing, this will definitely increase your sale chances. You may also want to consider having a copywriter look over your property description – anything that you can do to make your property sound more appealing you should do.

One last thing you can do is take half of the money you would consider paying a traditional estate agent to sell your home, and discount it off your selling price. You would be losing out on this money anyway, so it’s better to retain half of it than nothing at all!

Estate agents serve a purpose if you have the luxury of using them, but if you want to save on the costs, I would firmly suggest looking for an online firm and going down the DIY route. You will save on fees, and still get the sale that you need.

Article publié pour la première fois le 31/10/2013

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