House Selling - Money Saving Tips

System

This may not be everyones cup of tea, but I went to my local Graphic designers and got a FOR SALE board made up for £30.00, I then instructed an solicitor to handle everything when I have a sale agreed. Meanwhile I put an advert in my local paper with the picture of my house for £150.00, it took me 6 weeks to sell my house. No estate agents fee involved. Initially I invited agent to value my house for free, so I knew what price to market mine at.

SLK_2

I've seen 3 estate agents today. All with the same fees etc.
They gave valuations of 340K,400K and 475K.
How do I chose a price (and agent) with such a wide difference?

Marcus

That's staggering!

Did you tell each one what the others had quoted - it's best not to as they may play on your expectations to get the business.
I would suggest getting a few more quotes and looking out for houses that are similar and have sold in the same area in the last few months. Usually an agent will only say that they got below asking price, asking price and above asking price - but thus should give you an idea.

Best of luck
Marcus

System

A few years ago I was selling a standard semi bungalow. After ringing an agent who didn't get back to me with fees etc I placed a four line ad in my local paper, photocopied room sizes & benefits of location.

8 or 10 viewings later I had my asking price. I then made sure
they had contacted their solicitor and left him and mine to get on with the job.

The agent did get back to me after he had seen the house advertised. Saving to me £300 or £400 at the time.

webmasterpolo

bbc has done a brassed off britain serious and one of the episodes was on estate agents. Some outrageous activities they get up to -

like doing deals with property developers to get them a good price on a house. Then not giving in any "real" offers and giving some very low fake offers instead. Then low and behold the developers offer comes in between the fake offers and the asking price, seller is encrouaged to take it.

Estate agent makes the commission form the seller they conned and gets a couple of grand "kick back" from property developer.

http://www.bbc.co.uk/bob

Great tips Marcus!!

System

i sold my house in feb 03 to my tennant but did not find a house to move into till june in the mean time the house price had gone up about 15k but i had agreed a fair deal. is there anything i could have done or would it have been jack/illegal to have changed price?

terrierlady

not illegal but perhaps not moral? depends how much you value your word/friendship etc.

Stealthy

Thanks so much for all the great advice Marcus. Agreed deal with an agent at £2000 + VAT which works out at around 1.33%. There usual fee was 2% but have an 'offer' on at 1.75% at the moment!

Two other agents which came round came in at 1.5%, down from a wapping 2.25% and 1.75%. When I told the last one that I could not even consider his company if he did not come down to 1.5% he just said no and left. This was after saying everthing was negociable, not their commision it seemed.

The 3rd one did tell the tallest tales as well, he told me that each small picture in the property guide cost him £140 to advertise. Each page has about 50 of these pictures. When I know for a fact that the cost is £800 per page and £600 per 1/2 page.

Thanks again Marcus.

rbakker

Great forum. I was wondering how I could save on solicitors fees when selling. To start with, I have no idea how much they usually charge. I've seen some posts mentioning 200-300 pounds but a few calls and web searches haven't found anything below 500. I asked the estate agent and he recommended a very nice chap who wanted to charge 1200!

We're selling a 350,000 flat in London, and there's no chain involved. Could anyone give me a guide price, or maybe some recommendations (is that allowed?)?

many thanks

Major

Hi all,
Been following the posts with interest, taken a few hints for the internet selling, I hate to think the estate agent will get some of my money.  She who must be obeyed has just given me a paper cutting of National Home Buyers, these people boast that they guarantee to buy your home.

Has anyone had any dealings with these people, it just seems a bit to good, albeit they will have done an independent local survey then make a formal offer within 2 - 5 days.

The web site is only one page, so have a shufty.

https://www.nationalhomebuyers.co.uk (Moderator comment:- Link formatting corrected)

Thanks in advance for your comments.

The Major