Anyone preparing to sell a home has three main ways to go about it. They can hire a traditional estate agent, use an online estate agency, or try selling it privately. Each method has certain advantages and disadvantages that will be discussed below to help readers decide which is right for them.
Online Estate Agencies
Online estate agencies are a relatively new way to sell property, but their popularity has grown rapidly in the past several years. Online agencies provide most of the same services as traditional agents, such as professional photographs, technical floor plans and vetting potential buyers. They have access to the major listing portals, so they can offer a high degree of market exposure. One service they do not provide is giving buyers guided viewings, which will have to be done by the owner. Online agencies do help with price negotiation, but not nearly as much as traditional agents. Also, they do not work on commission, so they won’t be as motivated to find the highest possible selling price. However, most charge well under £1,000, making them an excellent value.
Traditional Estate Agents
Traditional estate agents offer the full range of services, and act as the primary price negotiator with prospective buyers. They are professional negotiators and will almost always get a higher price for a property than online agents or someone selling by themselves. Traditional agents usually make a commission of between 1.5% and 3% of the home’s final sale price. This makes them a good bit costlier than online agencies, but that higher cost is usually offset by the higher sale price they can fetch. In addition to having access to the major property listing portals, Fulfords home agents in Teignmouth will have lists of ready buyers, which gives your property more market exposure.
This is the most difficult way to sell a home. While the savings of not paying fees can be significant, the time and effort you will spend without professional help may not be worth it. You should only try selling your home privately if you have strong negotiating skills, otherwise you will probably end up selling it for much less than an agent could. Also, private sellers do not have access to major property portals. However, for people with strong sales abilities and a good understanding of the real estate market, this can be a viable option.