When most people are thinking about selling their house, they make their first and only port of call to their local estate agent. This is because they believe that estate agents are best placed to do this job and in return earn a commission. This of course does not involve situations where seller had to sell the property fast or had financial worries or, worst, had repossession looming . In other words, he was to sell the property through normal sale channels, and could afford to wait for a couple of months. The only problem is that estate agents can charge £5000 (or more) for very little work, if any at all that most people are capable of doing themselves. Most agents charge in the region of 3% plus govt taxes. How did they manage to get away from that? Because they ‘knew’ some thing that rest of us did not. But with modern technology and free flow of information, these ‘secrets’ are now readily available on various sources, including Internet. The only advantage of dealing via agents is that they know how to handle the buyer. And they know where to list the property so that It is visible to potential buyers. Can you think of any other advantage? There is not any. If you are generally good with people and can confidently answer their queries about the local area, mainly local schools or neighbourhood then there is not extra advantage you need to employ an agent. Agents hardy know any thing about your property. In my experience they almost never take the time to learn about your property. All they want is property on their books – that is all. How are they going to persuade the buyer that your property is better than the one next door – the basis of merit? In our experience, majority do not work hard enough to earn their thousands. Period! I know some one who sold his house recently. How the agent ‘earned’ his money is frankly quite alarming. Owner spoke to a few agents and decided to go with the most charming of the lot. Soon after the agent finished his coffee, he walked up to his car, took out the ‘For Sale’ signboard and erected it outside the house. So far so good. Next day a potential buyer saw the board, phoned the agent to make an appointment. Agent called the seller and then phoned back the buyer with time he should visit the property. Buyer went to see the house but agent did not turn up. Seller showed around the house. Buyer went back twice more to view the house without the agent. He also discussed the offer with the seller and ended up buying the house. All this happened without the agent leaving his office. Buyer never saw the agent. Seller saw him only once. But agent still pocketed many thousands. Not bad for turning up to see a potential client to value the house. Seller was not looking to sell the property fast but that is what he got, without trying. There are many such stories where agents hardly did much to earn their money. And many continue to do so. So,do not think for one second that agents know soe thing that you do not. They have a perceived advantage because buyers often make them their first port of call. However increasingly the buyers also know that some one will be paying agents fees, and ultimately it will be them. If they can avoid the agents then they can make savings. Here are some ground rules to sell your property privately: - Advertise your property in local papers - Advertise your property on property websites. They may include the sites where agents themselves advertise. Advertising there will cost you a fraction than what agents charge. - Search for a private buyer. They are easier to find then you think. - Look for a cash buyer cash buyer. Look around you and you will see where buyers hang around. You will find them looking for a property in the relevant section of local paper. You will find them searching on search engines, on property websites or forums. It is easy to put your self in front of them. You will be surprised how many will contact you, especially if they know that you are willing to sell the house not just at its true market value but below it. Because you may consider splitting the savings made by cutting out the agent for a fast sale.
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When most people are thinking about selling their house, they make their first and only port of call to their local estate agent. This is because they believe that estate agents are best placed to do this job and in return earn a commission.
Author specialises in buying the properties directly from house owners . He offers to stop house repossession , if that is looming by buying the house for cash and within 24 hours. You can visit his site, Instant Angels here: http://www.instantangels.com/
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