Why Do People Not Sell Privately..?
The main reason people choose to use agents, is because they think there is some mystique to selling a house, and also that they would not be able to handle the negotiation.
However, the simple fact is that houses sell themselves, not agents. If your house is priced well, you have put effort into the appearance, and have marketed your property, you will find a buyer, no problem.
Estate Agents charge large commissions but many people feel there is no alternative. An Estate Agent generally charges between 1 - 4%. This means on a £200,000 home you could pay £9,400 just in Estate Agency fees. Estate Agents argue that they spend around 50 hours works marketing a property prior to its sale. This figure is the subject of much debate but even if the figure is correct this means that they earn over £180/hour. imagine if you could get paid £180/hour – not bad work if you can get it (all tax free!!!). Wouldn’t this money be better in your pocket rather than the agents? It could pay for a holiday abroad or the stamp duty. In addition, really what does the agent know about your specific house anyway? – probably very little, you can point out all the features and good aspects of your house, small things like, this part of the house gets great sun in winter, things the agent just wouldn’t know.
