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This is not for the faint-hearted. If you really do begrudge an estate agent his commission fee then you can set about selling your home yourself. It will make the whole process even more stressful and, of course, there is expense involved in the marketing of your home. You will have to think about: - preparing and producing the details;
- fixing a price;
- printing the details;
- taking photographs;
- measuring the rooms;
- placing advertisements in newspapers, magazines and on the internet;
- answering the phone;
- arranging viewings.
One lady who tried this said that about half the people who arranged to view her house didn't turn up and, as a busy young executive, she knew that time is money. The internet has made selling privately much easier. There are several sites dedicated to putting buyers and sellers in direct contact with each other. It is all very time-consuming. If you want to sell your home privately, all the newspapers and magazines have a property section where you can place an advertisement. The weekend national newspapers are probably the best for this. The glossies do it too, but they have a very long lead-time and are very expensive. Make your ad as eye-catching as possible (it might be worth putting it in a box so that it stands out a bit), because usually there are no photographs, only words. Remember to include: - the number of bedrooms;
- whether it is freehold or leasehold;
- the location;
- the age of the building;
- number of reception rooms;
- any special or quirky features;
- the size of the garden;
- the price;
- your phone number.
Get the picture? Short and snappy is good, but you must hook them with one or two words. Unique and ultra-modern in these examples. When people start calling they will want you to send details with a pictures so have these ready to mail out. The downside to all this is that you will inevitably get some time-wasters who just want to look around. You have no way of knowing whether they are serious buyers or if they have the means to buy. If someone makes an offer, it is up to you to negotiate and it depends how brave or tough you are. You have no intermediary to act for you to ascertain how high the buyer will go. Sometimes an agent has information that he can pass on to the vendor such as 'I know he'll go to 260K, but that's his absolute final offer'. If you don't know this you may accept his offer of 240K, thinking he won't go any higher. Anyway, good luck. All I know is that it is quite a delicate matter getting the price you want, but not losing the buyer in the process. You could always ask your solicitor to do the negotiating, I suppose. As soon as the sale price is agreed get the purchaser's solicitor in touch with your solicitor, so that the contracts can be drawn up. However, it may be wise to keep on showing your home until exchange of contracts as there is many a slip between the ship and the wharf, and I have heard of people pulling out of a deal, even after surveys etc., on the day they were due to exchange.
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