Selling a house privately - Any tips?

dora37 · 14 November 2005 at 10:40AM

Lush Walrus,

Thanks for taking the time to reply in a factual detailed manner - I will definitely be taking your very useful advice on board.

It certainly doesn't sound easy, however what in life is? I love a challenge, and a challenge is not challenge if it is easy!!!

It's not really about saving the fees (though that would be a bonus) it's more about being control of our own sale.

Thanks again.

lush_walrus · 14 November 2005 at 10:50AM

I can understand that, it doesnt sound as if the agents near you are very good, and its worth a try. I hope it goes well for you.

Just remember that the thing you are loosing which can be of real value is the middleman. The impartial person who regardless of who falls out with them and how little the people in the chain likes them the sale does go on. Where as the thing you need to watch for is that if you have a falling out with your buyer, then some people would start to think why do them a favour and buy the house etc.

On this note, something I forgot to say is that try to keep either yourself, or your husband / wife as the silent person who the potential buyers havent communicated with. Then anything awkward or something you need to tell them that the buyer may not necessarily like you can communicate via, 'I've spoken to my husband and he feels....' and then the bad news is coming from someone removed from the relationship. Sounds silly but it works, then one of you stays 'nice' in the sale, and able to carry on communicating with the buyer should something go wrong, and the other one (doesnt matter who) remains the one who makes the decisions that the buyer wont necessarily like. Then the person who communicates the bad news stays as a sort of middleman. The whole good cop, bad cop theory works!

fitchick · 14 December 2005 at 11:10AM

I have in the past sold several houses privately and also through estate agants, am selling my current house privately. Most of tha hassle we have had so far is from the other estate agents in the chain, they tell you what they think you want to hear. My advise would be to make sure all the owners are talking to each other, ensure you chase the estate agents and solicitors.
To sell we simply put a board up outside with contact details and viewing by appointment only. I drew up some datails ready to send to any enquiries. In the end the first couple through the door paid full asking price (around 13k more than we had been offered earlier in the year) and no estate agent fees,
worth an estimated increase of 18k, hows that for money saving.
This is my first post so would just like to say hi.

Jorgan_2 · 14 December 2005 at 2:34PM

(The 2 internet based firms I've come across most often on RightMove are thelittlehousecompany and houseweb, whichever you go with I'd certainly think about paying for the package that gets you on RM or fish4homes.

Another alternative, why not do both? If you put it with an agent on a sole agency basis and make it clear to them that you're also advertising it privately on the net and in the local press. If you find the buyer you don't pay the agent, if they find the buyer they've earned their fee. You do need to make sure the contract reflects this and any buyers you find deal only with you and not the ea.)

Ian W, this would in breach of the Estate Agents Sole Agency. The OFT has made this stated this in relation to the number of 'internet only' companies that sell properties but claim not to be Estate Agents. - (The OFT makes it clear that a sole agency is just that and no other agent has the right to sell the property during the period of the agreement. The seller can sell the property himself without paying the agent a fee - provided that the buyer was not introduced to the seller by the agent during the contract period.)

meredith_2 · 14 December 2005 at 3:44PM

The oft has added new guidelines to clear this up. Any budding private sales sites should take note:

http://www.oft.gov.uk/Business/Legal/Estate/retailers.htm

Ian_W · 14 December 2005 at 3:53PM

That would actually be for the courts to interpret, not the OFT or you as an Estate Agent. The OFT's website suggests that internet based companies would be acting as Estate agents if their activities included [these are given as examples, not an exhaustive list]:

* sending out property particulars and arranging viewings
* receiving and fielding queries from potential sellers or buyers and passing on details to your clients
* providing clients with a 'For Sale' board and/or putting it up outside their property where the board contains your contact details.

Page is HERE to read fully what the OFT says.

As far as I'm aware, and I've no dealings or connections with and never used either company, none of those occur with either. They allow you to advertise for a fee on their site, you deal with viewings and queries, send out particulars and so on. If you already have an agents board outside not much point in the latter.
Other activities they don't do that EA's do are value your property, vet potential buyers as to their financial status [OR for that matter, try to strongarm them into using non-independent and often very expensive mortgage consultants!], liase with others in a chain, advise on lawyers etc, etc.

The Little House Co's page on Sole Agency and advertising with them is HERE.
Houseweb's one explanation is that they are a publisher not an EA and there is a PDF booklet you can download containing this - HERE .

If you believe, as an Estate Agent, either is acting as an EA having read their site, then report them to the OFT as their sites are clearly misleading consumers. Me included.

My post makes it clear that you should make the EA aware of what you're doing before you go ahead. If the EA objects you then have a choice, don't use the online service or don't use the EA.

Jorgan_2 · 14 December 2005 at 5:00PM

Ian,
this subject will be open to interpretation and people will form their own opinions. However, in a press release today from the OFT they have said;

"there are currently about 200 Internet property retailers trading in the UK. Some of these claim not to be engaging in estate agency work when in fact many do appear to fall within the legal definition."

The guidance sets out examples of the types of activities carried out by property retailers that are likely to be carried out for the purpose, either of introducing a client to a prospective buyer or seller of property, or bringing such an introduction to a successful conclusion. These are likely to fall within the definition of estate agency work as set out in the Act, and include:
 Providing clients with a 'For Sale' board and/or putting it up outside their property, particularly where the board contains the property retailer's contact details
 Receiving and fielding queries from potential sellers or buyers and passing on details to their clients
 Sending out property particulars and arranging viewings.

I was only trying to make the OP aware of the latest guidelines. As you rightly say, they have a choice as to who they use. As for the for the "strongarm them into using non-independent and often very expensive mortgage consultants", couldn't agree with you more. I left one corporate Estate Agent after being told that "we have to become a successful distribution channel for mortgages & life business, selling houses is secondary."

Good luck to Dora 37 in which ever route she takes.

eglons · 14 December 2005 at 5:57PM

Jorgan wrote:

(The 2 internet based firms I've come across most often on RightMove are thelittlehousecompany and houseweb, whichever you go with I'd certainly think about paying for the package that gets you on RM or fish4homes)

I'm the web developer for https://www.housenetwork.co.uk. The first thing to clear up is that whilst we are an online estate agent this is very different from being a "private sales" company. The important difference is that we visit, photograph, prepare floor plans, virtual tours and particulars and then post all of this to our website and our partner network.

As far as I'm aware we are the only online company to have a relationship with Rightmove, who do not deal with private sales companies as they do not, in general, conform to the practices I've listed above and instead rely on vendors to supply particulars and photographs (hence the possibility of misrepresentation).

We've tried to combine the best of both worlds by providing an online service, a very well structured site (although I would say that!), an extensive partner network, viewing and sales process management and most importantly sensible pricing. See this link for the details (remember I'm the code monkey not the Estate Agent!) http://www.housenetwork.co.uk/onlineestateagent.asp

We currently have an offer on of £199+VAT for the Visual Design (i.e. visit and preparation of details, uploading etc) and 0.25% commission on sales up to a maximum of £199+VAT. (http://www.housenetwork.co.uk/specialoffer.asp).

If you are after a cheaper way of selling your home but with all the advantages of the traditionally managed service and Rightmove, then I'd suggest we should be on the shortlist.

:xmassign:

Ian_W · 14 December 2005 at 6:53PM

Jorgan,
A month ago when I posted the original that you quoted I wouldn't have known the OFT had in mind a press release to-day about the subject, would I? So a bit unfair, with the benefit of hindsight to to comment on that post:

Ian W, this would in breach of the Estate Agents Sole Agency.

If your intention was simply to make Dora37 aware of the latest guidelines it's a very strangely worded post because it simply doesn't mention them at all. More so, it states something quite categorically, breach of sole agency, which you now accept is "open to interpretation" so my reading of it was somewhat different from what you say was intended.

I have no axe to grind for or against EA's or online property selling services [which may, or may not, also be EA's] - I was merely offering suggestions to the OP's question based on my experiences of surfing property websites.

It does strike me as odd that an EA should jump in and say, That's a NO/NO, when at worst it's a maybe and could, depending on the firm still be quite a legitimate way of selling your property. The EA trade not getting worried about the internet services is it?

BTW nice Ad from Eglon & you're right both the co's I mentioned are actually on fish4 and other property portals not RightMove.

yoocan · 14 December 2005 at 9:36PM

I'm not sure you're aware of this thread:
http://forums.moneysavingexpert.com/showthread.html?t=66614&page=4&pp=10&highlight=yoocan

In breif yoocan is the only completely free online
property website.
The package currently includes:

free listing on yoocan.com (UK and Worlwide)

free listing on propertyfinder.co.uk (UK and Worlwide)

free For Sale/To Let board (UK properties only)

free user support

free back link (if you've got a website)
In contrast to other sites the onus is on the vendor to be reponsible for the listing (images, property details etc.), organise viewings and deal with interested parties; thus the name of the site.

Happy private house selling.

Regards,

yoocan

Selling a house privately - Any tips?

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