selling a house yourself?

[Luckycharm]

Raven I am with you I think if I ever do have to sell my house I would give a go myself!!

Mr Man- I know quiet a few people who used to work for estate agents during the w/ends they would have gone to new Developments with very little knowledge of the local area, transport, school etc. AN estate beside me was relaunching new houses at much more reasonable prices- asked the EA selling the properties about the Proposed Shops that were supposed to be built over the last few years- gave me this cock and bull story about it will be all finished in a year!! Also had no clue about local buses, schools, amenities etc that a vendor would know themselves.

As for you last point A buyer is not limited to that vendor and will see a house they wish to look at and make their own opinions. I am sure most buyers are savvy enough to contact local EAs if they want to find out about other properties for sale.

Personally would much prefer to deal directly with a vendor then through an EA - leaves no room ambiguity.

 

[Raul]

Good thread. My brother is actually thinking about selling his apartments himself. They are already advertised through an EA but not sure how much he is pushing it. He has been very slow to advertise the reduced price on daft anyway. Time shouldn't be a problem as he works locally in the area anyway and can head over there as needed (is his own boss and work is not that plentiful).

 

[MrMan]

Raven I am with you I think if I ever do have to sell my house I would give a go myself!!

Mr Man- I know quiet a few people who used to work for estate agents during the w/ends they would have gone to new Developments with very little knowledge of the local area, transport, school etc. AN estate beside me was relaunching new houses at much more reasonable prices- asked the EA selling the properties about the Proposed Shops that were supposed to be built over the last few years- gave me this cock and bull story about it will be all finished in a year!! Also had no clue about local buses, schools, amenities etc that a vendor would know themselves.
What you are talking about are showhouses and this was often carried out by students junior staff etc because they were there specifically to show off the house with the info attached on a brochure and would then be followed up by an EA. This was generally the case because even EA's are due days off. I'm sure the EA you talked to didn't know his info, is your conclusion then that all EA's don't know their stuff?

As for you last point A buyer is not limited to that vendor and will see a house they wish to look at and make their own opinions. I am sure most buyers are savvy enough to contact local EAs if they want to find out about other properties for sale.
But they won't be aware of things that are coming soon to the market. Of course buyers will look around but to be honest I haven't seen any great evidence of the whole sell it yourself experience working to any great degree.

Personally would much prefer to deal directly with a vendor then through an EA - leaves no room ambiguity.
I agree, if I wanted to get the best possible deal I would hope to get someone who wasn't used to negotiating and could be pushed into a decision. Dealing with someone face to face suits the buyer as there is no breathing room for the vendor. In the normal circumstance the vendor has time to consider info and instruct the EA to do what they want, but people would not be as quick to play hardball face to face.

 

[sadie]

I would advise using a good estate agent because when it comes to the money negotiations, they are (1) skilled at getting the most amount of money available out of a buyer, and (2) sussing out if a buyer actually has the money or not. Like them or not, a good estate agent who has been in the business a long time can read a buyer like a book and can tell if they are a time waster or not.
Also, there is a can be a lot of messing after the selling price has been agreed and a lot of phone calling and clarifications on things if the sale is not straightforward or there are any issues relating to structure or planning on the house.
To my mind it's worth the few k to get someone else to handle that. As someone who is househunting I'd be very wary to buy direct from the seller as I just figure they would be unrealistic on the price and it's so much easier to discuss money and other tricky matters (like getting repairs done before buying etc) through a third party.

 

[csirl]

One advantage of not using an estate agent is eliminating conflicts of interest such as the EA recommending other properties, also acting for the buyer, not passing on bids if a friend/regular customer of the EA is bidding etc.
This may seem like an advantage, but to the buyer it is a disadvantage as their choice is narrowed to one and they are what it's all about. If I walk into your home I get one aspect, an EA might tell me that he has 4 houses that suit the criteria that I outlined so now I have a greater choice.

Agree - this is a good argument for not using an EA and what I mean by a conflict of interest. The seller is the one paying for the service and if I'm a seller, I want all potential buyers to think that my house is the only one on the market that fits their criteria.

 

[csirl]

Alot of people are not comfortable with details regarding to construction and planning questions. ?IAVI EA's will have covered alot of planning regulation, construction and property law in gaining their degree.

Is this an example of coaxing people into getting a service that they dont need.

Issues such as planning and property law are handled by the solicitors, so doesnt involve the EA. Construction details - this is why you hire a surveyor, again this doesnt involve the EA. I dont think any potential purchaser would take the EA's advice on these matters particularly if it conflicted with their solicitors/surveyors advice, so what use is it?

 

[MrMan]

Agree - this is a good argument for not using an EA and what I mean by a conflict of interest. The seller is the one paying for the service and if I'm a seller, I want all potential buyers to think that my house is the only one on the market that fits their criteria.

Yes buts its a balancing act and sellers have to be realistic and be aware that potential buyers are going to look at alot of properties. If they can see a few through one EA then they are more likely to 'fall' for one of them. The EA is acting on behalf of his client, but if that seller thinks that any buyer is going to think that this house is the only one that fits their criteria on the market then the seller is totally out of whack with the market.

 

[Luckycharm]

"What you are talking about are showhouses and this was often carried out by students junior staff etc because they were there specifically to show off the house with the info attached on a brochure and would then be followed up by an EA. This was generally the case because even EA's are due days off. I'm sure the EA you talked to didn't know his info, is your conclusion then that all EA's don't know their stuff?"

MR man so you are saying the EA I talked to didn't know her info then why not just tell me that then trying to bluff me - is that what most EAs do?

"Of course buyers will look around but to be honest I haven't seen any great evidence of the whole sell it yourself experience working to any great degree"
Coming from an EA I will take that with a pinch of salt- Raven seemed to cope fine and it guess it depends on whether you have the time etc to sell yourself.

 

[loukkcat]

I attempted to buy a house from a private seller and he messed me about so much, that I wouldn't go near one in the future. I put in an offer, he said he wouldn't accept any offer until the contracts were fully signed, and that he was sending out full contract to 3-4 peole at the same time. Meant I had to go hire a solicitor and surveyor, and get full mortgage approval for the property which I did, and in the meantime, he sold to someone else...or at least said he did, for all I know, he could have been bulls***ing all along.
He didn't have a for sale sign up or even his full address listed on daft, so it was all a bit dodgy. As I said, after that experience, I would stay well clear. Having spoken to people about this, lots of people said I was mad to consider a private seller in the first place - just something for your parents to keep in mind, You could be alienating a lot of people before you even start!!

 

[MrMan]

Is this an example of coaxing people into getting a service that they dont need.

Issues such as planning and property law are handled by the solicitors, so doesnt involve the EA. Construction details - this is why you hire a surveyor, again this doesnt involve the EA. I dont think any potential purchaser would take the EA's advice on these matters particularly if it conflicted with their solicitors/surveyors advice, so what use is it?

I said that you can coax an offer out of people who may otherwise sit on the fence.
Planning and property law are handled by solicitors of course, but it is necessary that the first point of contact should have an understanding of the subjects if they are to provide a profrssional service. Someone with this knowledge can also help potential clients with what to look out. It is also good for the vendor to deal with someone who knows planning & property law, because an issue can be identified before the sales process and save the client any unnecessary time delays.
With planning and construction details, viewers will want info without having to go to the cost of hiring a surveyor or solicitor and only when they are satisfied that it is the house they want do they dig into their pockets.
People would have always asked me questions relating to such topics on viewings, i provide honest answers, it must have been of use to some of them. Do you think it would be better to reply 'consult a solicitor/surveyor' to questions that I was aware of the answer to?

 

[MrMan]

"What you are talking about are showhouses and this was often carried out by students junior staff etc because they were there specifically to show off the house with the info attached on a brochure and would then be followed up by an EA. This was generally the case because even EA's are due days off. I'm sure the EA you talked to didn't know his info, is your conclusion then that all EA's don't know their stuff?"

MR man so you are saying the EA I talked to didn't know her info then why not just tell me that then trying to bluff me - is that what most EAs do?

"Of course buyers will look around but to be honest I haven't seen any great evidence of the whole sell it yourself experience working to any great degree"
Coming from an EA I will take that with a pinch of salt- Raven seemed to cope fine and it guess it depends on whether you have the time etc to sell yourself.

You said that he had no clue and gave you a cock and bull story so I presumed that was an indication that he diidn't know his info. Any EA that gets by on bluffing is simply lazy as there is every opportunity given to learn what is required, but i guess like in your field and every other there are people would just cruise along.

Don't take my word for it, check out the websites and see if you are blown away by what you see. I have nothing to gain from colouring the self sell sites in a bad light as I am not an EA right now and prob won't be for some time.