using estate agents in this market

carolbee

Hi guys, just want a few opinions please - not on if to sell but how to!

We are considering marketing our property now, not certain if we will as yet, as this is a 'from choice' move and not at all certain that this is the right time

If we do, do you think using an agent would be best, as a buffer between us and any possible buyer to get the best possible price, if so, do you think we should bargain for a reduced commission rate. If we do so, it would cost us around £4k.

If selling privately, any tips please, as a would be buyer, I browse on rightmove a lot, and wouldnt want our property to be overlooked by buyers outside the area.

many thanks,

JayZed

If you don't need to sell right now, then I would try marketing it without an agent, at least for a few months, and see what bites you get. In my experience you don't get as many viewings as you would with an agent, but if you're in no hurry to sell, that shouldn't be a problem.

This might be helpful:
http://www.propertysitereview.co.uk/propertysites.php

milliemonster

If you are not needing to move and are only wanting to sell out of choice, then I wouldn't bother, in the current market you are not going to get a great price for your property and you could be waiting months for any viewings, unless you are prepared to market your property at a bargain price

besonders1

It might be wise to get it valued via an EA just to see what prices property has sold for and what might be the best price to market it at. As other have said it might not be the best time to sell but then again if you wait a year later it could be even worse. If you wait till later at least other houses may be more affordable e.g. if you wanted to upgrade to a bigger house etc whereas at the moment you couldn't really drop the price of your house as there would be a shortfall for the house that you need to buy, unless you intend to sell to rent then buy later (STR) which is another option but a gamble.

Darth_Marty

Theres a whole bunch of reasons why selling via an estate agent is the best thing to do - heres a few -

Marketing - far better than some shoddy a4 printed sheets you would probably do
HIP/EPC/CONVEYANCING - the agent will sort this out for you if you so wish, i would imagine a lot of private sellers would forget about these.
Negotiating price - in the majority of cases id imagine the ea would be far better at doing this, in some cases the private seller has been "bullied" into difficult situations
Stress - far easier to just walk into an ea an get them to handle everything id say
Viewings - personally wouldnt fancy doing accompanied viewings around my house plus a lot of buyers are put off by this as they feel its hard to ask questions/be critical.
Im sure theres others but they spring to mind instantly, as for negotiating price id say anything up to 2% would be a fair price, ask if you can pay what they ask for 6 months then get it reduced if they havent found a buyer, its a fair compromise plus remember that oddly in these quieter markets the agents are likely far busier!

On the positive side id guess you may save a grand or three if you sell privately but i would advise against this unless you have a lot of experience in selling/buying/conveyancing or estate agency.

Just my opinion mind.

Davesnave

There are plenty of good reasons above for using an agent, but not just any agent, so do your homework.

One more reason is, as a buyer in this market, I wouldn't wish to negotiate directly with the seller. It is one thing to offer & purchase in a rising market, but in a falling one, the need to factor-in some cushion means tough talk. I'd rather do that through an intermediary.

icebergx

You can always do both.
Price is key. If your property is cheap, it can sell either way.