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How To Sell Your House In A Private Cash Sale
How To Sell Your House Privately
With sales commission on the average UK home reaching £5,000, it's no wonder that hundreds of homeowners each year opt to sell their houses privately. Unlike popular auction sites that merely provide the means for sellers to list their own items for sale, many online estate agents offer full-service deals that provide services you would normally expect from a traditional agent, from home visits to professional photography. With the lure of big savings flooding the private house sale market with starry-eyed sellers, we explain how to sell your house privately, and how to make the most of your online listing.
Why Sell Your House Privately?
While most people will be quick to point out the potential monetary benefits of selling your house privately, there is also a control factor that many sellers enjoy. Your home has been the place you slept, ate, made memories, loved, hated and gone through life with, often for many years. For better or worse, our homes make up significant parts of our lives. When it becomes time to sell, we want to achieve a high selling price, but we also want to pass it on to the right buyer. By having creative control of our sales listing and promotion, we become empowered to showcase the best features of our houses and attract the right buyers. By selling privately, we also get the freedom to charge as much or as little as we like, without estate agents holding us to market value.
By selling your house online, you will still get the benefit of a professional estate agency, but for a far lower commission. Online agents are beginning to change the industry and compete with old-fashioned high commission rates and poor sales statistics. With more and more house buyers choosing the internet as their preferred means of property search (some sources quote up to 95% of new buyers search online), private house sales look set to be an everyday occurrence.
Where To Sell Your House Privately?
There are hundreds of online estate agents and house sales portals to choose from; you can even list your property for sale on eBay. It is often better to list your home for sale with an established agent that has received impartial feedback and other sellers can vouch for. In the UK private house sales market there are several major players including The Little House Company, House Network and Tepilo. Channel 4 viewers may recognise the familiar face of property entrepreneur Sarah Beeny on the Tepilo.com website. The online estate agent was started by Beeny, famous for her Property Ladder series, and private house sellers can list their properties for as little as £195. Most agents will offer optional paid extras such as a 'For Sale' sign, professional floor plan design and house photography. Legal considerations are also taken care of, for a price. The major UK online agents require a house visitation before listing your home, to verify its condition and specifications and avoid any false advertising claims from buyers. With measures such as these in place, buyer confidence is high and trust levels for online estate agents are on the rise.
Manage Your Private Sales Budget
By selling your house privately, you still have access to major advertising channels such as RightMove and it is still possible to place an advert in your local paper if required. Set yourself a marketing budget and view the sale of your home as a project by creating an actionable plan. Do some research and determine where people in your price-range look for homes: do they read local publications? Will they check online agent listings? Do they use eBay? You will be able to afford to list on multiple websites and still save a considerable amount of money compared to the cost of traditional estate agent commissions. Look at some homes for sale in your local area: have they been sat on the market for a long time? If so, it might be more economical for you to take out a one-off payment service rather than a monthly-fee service.
Not all online advertising channels are costly; many free advertising options are available, and by taking advantage of these free promotional opportunities you can increase the potential number of buyers that see your listing. Websites such as Gumtree and FreeAds allow you to place a free listing and magazines like Loot allow free basic listings in some categories. If you have paid for an online agent to take professional photographs of your house, make sure you have the rights to distribute the images on other websites.
By harnessing the high number of house buyers searching online each day for properties for sale in your area, you can save money and take control of the sale of your home by selling privately and listing with an online estate agent.
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