How to Sell Your Property and Save on Agent Fees

Middlemen are continually being bypassed in our daily lives in favor of technology, from buying a vacation through to flight comparison websites to ordering a cab from an app on your phone. The way that people buy and sell property is also changing, as the modern day seller is becoming increasingly disheartened with inflated agent fees and lack of control and wondering if they can do a better job themselves.

If you’re thinking of downsizing your property to allow more liquid cash for your business or looking to upgrade because is going so well, here’s one answer to these frustrations. It’s a new style of agent that is growing in popularity and size: online real estate agents. Rather than operating from a high street office, they only have an online presence and charge a flat-fee (maximum $2,000) instead of a percentage of your house sale (usually £5%). Online agents like Settled can provide all the services of an individual real estate agents – including valuing and marketing your property – but the main difference is that they encourage you to do the viewings yourself. This may seem like a hassle initially but what it actually does is directly link you with potential buyers. This can not only save you time but also make the sale a lot more efficient and put you in control.

So how do you sell your house online?

Follow these steps to save money on estate agent fees and sell your property online.

Do your research

Ultimately your circumstances will dictate what kind of agent or service provider you go for. Depending on what area you property is in, the competition and how quickly you want to sell your property etc. the level of assistance you require will differ. It’s possible to do everything yourself, though this may take more time. All online agents offer professional photographs and a floorplan of your property and a for sale sign, but only some host the viewings for you, others let you do this yourself. It depends on how much control you want to keep over your sale and how much time you have.

Make your property sellable

Agents can advise on how to tidy and present your property for viewings but what you should really consider is home improvements that will add value to your property. If you have the means and the time redoing the kitchen or extending a part of your house can increase its value by up to 20%. If you don’t have budget for major works, make sure those boring jobs like repainting, repaving the driveway, tidying the garden are done to a good standard so the buyer’s first impressions of the property are good. A simple tip but not one to underestimate is how much quicker a clean house will sell over a dirty one too.

Value your property

Once you’re happy with how it looks, fix an asking price. There is a myth that property valuation tools are locked behind closed doors but this simply isn’t true, take Zestimate for example. Anyone can look at similar properties in their area and by comparing their own assets, make an educated estimate on the value of their property. Ask yourself if your house is in the same condition to others on the street and see how much they have sold for in recent years. If you’re eager to sell quickly, you might want to consider setting a competitive price to attract buyers, but if you aren’t in a hurry you may wish to set it a bit higher to obtain the optimum price. Bear in mind the time of year too; less people are around during the holidays which will mean less competition.

List your home

It’s been projected that 40% of house sales will be online by 2019. So the important thing to do when selling your property, is make sure it is listed on the popular online property portals so that buyers can find it within a few clicks. Gone are the days when you had to walk down the high street to check out the windows of an agency or call up a local agent. Now buyers can search for their new home on the move, on holiday or simply from the comfort of their current home. Some online property portals allow private sellers to list on them, but mostly properties have to go through an estate agent for verification. The most cost-effective way to do this is through an online estate agent whose fixed fee includes this service.

Manage the sale

Now the fun begins. As an online seller you can manage your ad, your viewings and your negotiations yourself, making sure the sale moves at your pace. Meeting the buyers during the viewings will help establish a relationship that will make communication so much easier when the conveyancing begins. Rather than going through a middleman you can have a open channel of communication with the buyer to make sure everything runs quickly and smoothly.

Selling your own property requires research and good communication and can be time consuming, so it’s worth considering your options. If you wish to save on agent fees, but are not totally confident to sell your property privately, an online estate agent can be a happy medium – giving you control over the sale whilst also providing expert help throughout the whole process.