Should we use an estate agent?

tuesday_2

We have decided to put our house on the market and have had 2 estate agents round to look at it and are expecting another one tomorrow, but haven't decided who to use yet. We had a phone call from a friend tonight who had found out that we were thinking of selling, asking if his son could come and look as he was very keen to buy a house in our avenue. He has been looking for some time and knows our house, but the houses that have come up for sale have had large extensions and we are one of the few houses that haven't had an extension added. He hasn't put his house on the market yet. If he wants to buy it, what are the disadvantages of NOT using an estate agent. We are in no hurry to move and haven't got a house to go to.

Doozergirl

No real disadvantages to not using one really. A very good agent will help the process along but there are genuinely very few good agents out there. So their presence is either inconsequantial or a downright hindrance when you consider how many different people are involved in a chain - just you and this guy, with both solicitors and one agent can mean a lot of chinese whispers. Add in his buyers and their agents and solicitor and you can end up with meltdown!

Even with a good agent, I'd question whether the fee is worth it when you consider that a solicitor is a professional and you pay them a darn sight less than the EA!

However, he hasn't even put his house up which isn't a great start. Never accept an offer from someone who hasn't sold - far better to put destiny in your own hands than someone elses! I would use an agent but make it clear, if the son views and likes it, that you already have a potential buyer lined up and write formally to them with his name. Ensure that you are signing a sole agency agreement and not giving them sole selling rights - which is the right to charge you their fee even if you sell to someone they didn't find!

Otherwise if he likes it and he sells then you just deal through solicitors and call each other directly if you hit any walls.

tuesday_2

Thanks for the advice - much appreciated

Dr_Baird

I would always advise a qualified solicitor over and estate estate. estate agents don't actually need any qualifications - I suppose most have some sort of certificate but they do not have the level of qualifications a solicitor has.