To Sell or Not to Sell? Estate Agencies and Independent Selling Options Explained
A property in Bow can be sold by an estate agent Bow, or by property owners direct as an independent sale. The continued evolution of the web has made it much easier for independent sales to happen – with no fees to pay and no drawn-out negotiations to muddle through, conducted on your behalf by people you never meet.
So which is best? Is there really money to be saved by not using an agency? And are the fees charged by the estate agent really justified?
A Piece of String
How long is a piece of string? That’s the question you’re really asking, when you get into a discussion with yourself about whether to use an estate agent Bow or to bite the bullet and sell your house yourself.
If you go with the latter, you’ll need to find a way to advertise the property. This can be done using sites dedicated to providing a marketplace for self-sellers. Some of these sites may employ photographers to come round and take professional pictures on your behalf. Most also supply physical “For Sale” signage to help you advertise within the local neighbourhood. All will charge you a fee when your home is sold. Legal stuff is still required, which you must arrange.
If you go with the former, all of the advertising and promotion is done on your behalf. As a result, the fee charged is much higher. You will also have to get involved with the legal stuff here, under your own steam. Beyond a recommendation for a local convincing solicitor, an estate agent has nothing to do with the contract side of things.
Value for Money
Clearly the key consideration in any house selling situation – indeed in any situation for which you may, or may not, decide to use a specific service – is whether you are getting value for money. If, for example, it is quicker to sell your property through an estate agent, then the fee the estate agent collects may represent value for money.
If, on the other hand, you are confident that you can sell privately in the same sort of time frame, without the fee, then an estate agent does not represent value for money.
To a large extent, the factor most affecting this outcome is that of public trust. If members of the public trust an estate agent Bow to find the right property for them at the right price, then they’ll go through the agency over an independent sale on the grounds that estate agents know what they are talking about.
If members of the public don’t trust estate agents, then they are just as likely to buy from an independent seller – and so the question of time is once again reduced to simple advertising.
Unseen Equals Unheard
It’s the oldest advertising truth in the book – you can have the greatest product (in this case, your property) in the universe, but if no-one knows it’s there no-one is going to buy it. As a result of this, the argument most frequently wheeled out in favour if an estate agency is its simple ability to put the word out to more pairs of eyes, quicker, than a person engaged in an independent sales process.
Against this argument, it must be noted, the independent sales process may now point to the aforementioned websites, which take care of some of the advertising on behalf of their clients. Here, all advertising is done online through recognised property portals – which goes some way towards redressing the balance. At the end of the day, personal preference is what will make the final call.
Author Bio – Anna Mathews is an experienced writer. She has a wide range of experience in writing across different areas.
- Duties of estate agents and more, on CEA website (todayonline.com)