Selling a house privately - Any tips?

Doozergirl

yoocan wrote:

In breif yoocan is the only completely free online
property website.

Not that you're advertising or anything...:wall:

Funny how that completely unconvincing 'impartial' thread gets bounced up by the same person every month.

:spam:

NannyP_2

I am currently advertised on here.

http://www.buyitprivately.com

I live in a populare, historic street and will put a For Sale board up after Christmas, and will advertise in local newsagents.
Wish me luck.

Jorgan_2

Ian,
Apologises, I didn't see the date of your original post. As an Estate Agent I personally am not worried about the internet property retailers, I have seen numerous companies, be they internet based or up front fee types, come & go. Whilst some people want to adopt a hands on approach, many others do not and will use the services of an Estate Agent. The property retailer's have claimed for years that they are not Estate Agents when quite clearly the majority are undertaking the work of an Estate Agent, as defined under the 1979 Estate Agency Act. As Estate Agents they will also have to comply with the Property Misdescription's Act and the Money Laundering regulations.

Dora37, sorry for hi-jacking your thread.

mrmoneyman_2

Sorry Jorgan - private sales sites like http://www.buyitprivately.com are most definately NOT estate agents - they are classified advertising sites, and thus they certainly do not come under the Estate Agency act.

They don't take a commission, they charge peanuts, and as someone who sold privately in this way - they are taking on Estate Agents in the way that say Expedia took on Travel Agents - I think they are brilliant.

As with any industry there are good ones and bad ones, but buyitprivately.com is a good one - and my friend sold through houseweb as well.

meredith_2

well according to the oft site, if you offer for sale signs you are now classed as an estate agent... the rules have changed.

Ian_W

Hi meredith,
Guess as an EA you'll read it as it bests suits you but the OFT site ACTUALLY says,

" providing clients with a 'For Sale' board and/or putting it up outside their property where the board contains your contact details. "

Which suggests to me more than simply supplying a board.

But it goes further than that, the oft offer a non-exhaustive list of things it believes may make sites EA's rather than simply an advertising medium, but it's for the courts to decide, not the OFT, whether they are or not.

meredith_2

Ian_W wrote:

Hi meredith,
Guess as an EA you'll read it as it bests suits you but the OFT site ACTUALLY says,

" providing clients with a 'For Sale' board and/or putting it up outside their property where the board contains your contact details. "

Which suggests to me more than simply supplying a board.

But it goes further than that, the oft offer a non-exhaustive list of things it believes may make sites EA's rather than simply an advertising medium, but it's for the courts to decide, not the OFT, whether they are or not.

I'm not an estate agent, I run my own private sales site (I won't spam you all) so this is why I have an interest.

The key is in the 'and / or' bit suggesting if you provide a board OR put it up you are an estate agent. The new guidelines are incredibly fuzzy however and I think this will catch a lot of people out. I'm playing it safe and not going down the board route - as soon as you are classified as an agent you have to comply to a whole lot of other stuff.

richardw

Isn't an agent a third party between a buyer and a seller?

Ian_W

meredith,
So any signage company that makes & sells For Sale signs is an EA?
The local property paper that allows private property ads is an EA?
What about the newsagent that allows you a high street postion in their window?

You're right the guidelines are "fuzzy" but they're written by Civil Servants and are an opinion from the OFT, as they point out it's for the courts to decide the law. I suspect that if/when tested the courts will require proof that someone is authorised to act on behalf of the seller rather than just supply a sale board or allow advertising on a website.

Interesting debate though, and sorry I called you an EA, very hurtful!! :xmassign:

fsbo

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.

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.)

that is not right IMO.

if the 2nd EA knew of the 1st sole agency agreement then he might be responsible for "inducing breach of contract" and liable at law.

if using an EA make sure you read the contract and if there are terms you do not like the look of, have them amended or try a diff EA.