Christmas is often the time when you realise your home just isn’t large enough for your growing family or their needs. So, it’s finally time to look for a new home and sell your old one. No doubt, like millions of other people, you’ll turn to the internet over the festive period to browse through the local housing market and see what’s for sale.
But as for selling your own house, who should you use? With living costs increasing, it might be tempting to use an online agent and ‘save’ some money in selling fees. But do you really want to take risks with the single most valuable financial asset you own? Local estate agent, Alasdair Morrison looks at why the cheapest option isn’t necessarily the best when it comes to property.
He says:
“As local estate agents, we understand both the emotional attachment that most people have for their homes, plus the significant financial investment they have made over the years they have lived there. Our selling service is a personal one where you will always know the team member assigned to your sale personally and you can rest assured that they are committed to achieving the best possible price for your home.
“Although the online estate agents offer a ‘local property expert’ to help with your sale, they generally cover a very wide area, which means their knowledge of your local market is likely to be very limited. One thing you definitely don’t want is an overpriced property on the market because it will languish unsold, while attracting the wrong kind of attention from potential buyers.”
Alasdair continues:
“The marketing patter by the online estate agents can be very convincing, especially if you’re driven by a tight budget, but it will pay to read the small print very closely. With one such agent, once you have instructed them you are committed to paying their full fee even if the property doesn’t sell after 10 months, or you must pay if you withdraw the property from the market yourself.
“So, you have to ask yourself, is there really any incentive for the online agent to work hard to sell your property for you if they are guaranteed to get their fee anyway? Why should they go the extra mile to achieve your sale price when they will be paid no matter what?
“Your local estate agent will offer much more acceptable selling conditions, which will allow them to do their very best to sell your property within the timescales agreed and they will work hard to achieve the sale price that you have agreed on. Also, they will only be paid once the sale is completed and not before.”
Alasdair finishes:
“We would always recommend that vendors speak to at least three local agents before signing with an online agent. Before the appointment, the agents will have done their homework on the local market, looking at comparable properties that have sold in the area to create a best sale price guide. They may also have qualified buyers waiting to purchase on their books that they can introduce to the vendor before the property is even listed on the open market.
“This is what we recommend vendors do before committing to an online sales agreement that will most likely tie you in until the property sells or you pay their fee in full.
“The team at Alasdair Morrison & Partners is here to offer expert, local advice on selling property. We offer a free, no-obligation market appraisal of the likely price we could achieve for the sale of your property. All you have to do is call us in Newark on 01636 700888 or Southwell on 01636 813971 to set up an appointment at your convenience.”
