Previously if you had wanted to sell your home, the only option available to you would have been working with your local estate agent. Now, the property game has changed completely and there are many different options available to you. There are many reasons why you may not want to work with a traditional estate agent: perhaps you want to avoid commission fees, want to work with someone who specialises in commercial properties or maybe you want your property listing to receive a wider audience. Whatever the reason, here we share the different options for selling your home without an estate agent.
How can I sell my home without a high street estate agent?
If you want to sell. your home without working with a local estate agent, there are ways you can do it:
Cash buying company
Working with a cash buying company, an online company which can buy properties for cash, could be great if you are looking to make a quick sale. However, you may sacrifice some of the asking price. Experts suggest that cash buying companies offer around 10% to 25% lower than the asking price for property sales.
Cash buying companies can be a lot quicker than working with an estate agent, can specialise in property portfolios and are not subject to the same commission fees. However, they are also deemed less trustworthy so you need to spend time researching the legitimacy of the company before choosing to work with them. Cash buying companies can connect you with cash buyers; however, in a worst case scenario, it could be a scam. Check reviews on sites such as TrustPilot to read what other customers have said.
Property auctions, either online or offline, let you work with the seller or auction house in order to set a reserve price. The reserve price will be the minimum price that you would like the property to sell for; however, this price is hidden from bidders. What the bidders will see is a ‘headline’ price – higher than the minimum price agreed.
Auctions can be a much quicker way than working with estate agents. They are also a good option for those looking for certainty as they offer fixed dates for both exchange and completion.
Depending on the auction house you choose, you may be able to save a lot of money by taking your property to auction rather than working with an estate agent; however, that said, you may not get the full property value.
Fully managed property service
You can work with a fully managed property service who will take control of the whole property selling process and can sell your property online. Many offer different packages so, depending on what you are interested in and your ideal price range, you can find a package that suits you. This allows you to pick and choose additional features and services so you can prioritise certain things and save money elsewhere.
Online estate agents
If the reason that you do not want to work with a traditional estate agent is due to the fees and the inflexibility of location, you can work with an online estate agent instead. There are a huge range of online estate agents available who offer different price packages to suit different budgets. Rather than the traditional estate agent business model of working on commission (usually between 1 to 3% of the selling price), online estate agents usually charge a flat fee, so it can work out to be far cheaper.
Not only that, but because the online estate agents are not limited to a physical location, they can open your listing up to prospective clients from all over and broaden the pool of potential buyers.