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Selling your home yourself could save you lots of money, but you could also lose out if you undervalue your property.
Estate agents will usually charge you a percentage of the final sale price, ranging from 1% to 4% (plus an added 20% VAT on that percentage). That means you could be charged anything up to £9,600 (including VAT) for a property valued at £200,000.
There is also the added stress to consider when selling your home.
Get at least three free valuations from local estate agents to get an idea of the value of your home. Once you have this figure, consider adding 10% onto the price you would be willing to sell for as this will give you room for negotiation later down the road.
Pricing your property may seem simple enough, but it is important you do so correctly. Undervaluing can cause you to lose out on thousands of pounds, while overpricing will throw you out of the market completely.
You may want to consider hiring a professional photographer to up your chances of selling the property.
If you’re comfortable behind a camera, or you’re on a tight budget, you might want to take pictures of your house yourself.
For the best quality, you will need at least a good quality digital camera or smartphone, a tripod and potentially some sufficient lighting.
Work out the best angle to take your picture from and angle the camera level on your tripod. Before taking any pictures, ensure there is enough lighting in the room. We recommend you take pictures during the daytime, and turn on all the lights to make your home look cosy and lived in.
Before setting up, you will also want to ensure your home is tidy and ‘staged’.
You should focus on online advertising for your property, as more than 93% of house searches now begin online.
Putting an advert on websites such as Gumtree is normally free, but may not be seen by the right people. Because you are not a registered estate agent, you will not be able to use Rightmove, Zoopla, or any of the other popular property portals.
Advertise your property on social networks like Facebook and Twitter. Ask people to spread the message.
Offline, you should also consider taking out a classified advert in your local newspaper
Of course, you may want to consider using an online estate agent to advertise your home. Not only will they get your property on all the right websites, such as Rightmove and Zoopla, it will cost you thousands less than your average high street agent.
Online agents such as eMoov, HouseSimple and Hatched will advertise your property on up to 500 websites for as little as the fixed price of £345.
Online estate agents are highly recommended as it will be increasingly difficult to get your property seen by the right buyers otherwise.
Outside of the internet, you should consider investing in a ‘for sale’ sign to appeal towards passers-by. A sign should cost around £25 and can be personalised to include contact details such as a phone number or email address.
Alternatively, you might also want to take into consideration taking out a classified ad in your local paper.
Ideally, you should try to be available whenever the buyer is available. This is not always achievable if you work regularly throughout the week, but try to keep in mind that you should be as accommodating to the buyer as possible.
Just like your photographs, your home should be clean and tidy, with plenty of light and open space. You are trying to sell what it might feel like to live in your home, so attempt to create an environment that is calm and relaxing. Children’s toys and dirty clothes strewn across the floor will have a negative effect on your buyers and could lose you a sale.
Dress appropriately and present yourself well for a property viewing; you will be representing the neighbourhood. You probably won’t have to go full tuxedo or ball gown, but go for something that is presentable.
If everything goes to plan, you should soon have offers coming your way. Sometimes you won’t be offered the amount you expected, but don’t be put off.
If you receive an offer that is below your expected price, don’t feel pressured to give a yes or no answer straight away. Your buyer should be reasonable and understand that you may need time to think over lower prices. Give them a timescale in which you should give them an answer and don’t be afraid to counter their offer.
Likewise, buyers may want to add certain fixtures and fittings to the house sale, so feel free to add their value to the price of the property.
You should only say yes to a price that you are happy with. Once you have agreed on the price, contact your solicitor and let them know that you have come to an agreement. They will then be able to progress with the contract and finalise the sale.