Can you actually sell a house without an estate agent?
You absolutely can – but you won’t get 100% of value of a property.
Let’s face it; estate agents aren’t exactly the most trustworthy professionals, are they? To become an estate agent, you don’t need formal qualifications, so the barrier to entry is as low as any double-glazing salesman or second-hand car dealer.
You need to sell your house, so the big question is, do you instruct an estate agent or sell a house yourself without an estate agent?
The answer depends on your circumstances because if you need to sell NOW, an estate agent might be unable to help you. However, if you need to get maximum value out of your property AND it is mortgageable, AND you aren’t in a rush to sell, then hiring a great estate agent makes perfect sense.
On the flip side, if you need to sell quickly and the property needs work or has title issues, then selling to a cash buyer without the hassle of endless viewings, no offers and months wasted in the process isn’t worth it.
This guide will help you make an informed choice. We will tell you what you should look for in an estate agent. How to spot a dishonest estate agent?
Each type of estate agent has its pros and cons. Our team have been buying and selling property for many years. We’ve worked with a whole gamut of property professionals, including many un-professionals.
So, we’re well-placed to present the arguments for each option.
Whether you’re looking to sell a house, bungalow, flat or maisonette, the choice of agent will affect your selling experience and the eventual outcome – whether it sells at all, how quickly it sells, fees charged and how much money you ultimately make on your property.
Many sellers approach us, having been disappointed with their agent, and are looking to sell to us directly for cash. We’ve written this article to save you time, money and stress of dealing with estate agents and potentially help you avoid the same mistakes.
Let’s look at the positives of different types of estate agents and why sellers instruct them:
A high street estate agent is a more traditional way to sell your house, but you are dependent on the staff in the branch being available. Estate agents are great at sales; many have been struck off for their dubious and dishonest selling techniques.
Some online estate agents offer additional benefits you won’t find from a traditional high street branch. However, the drawbacks are usually the lack of personal attention you’ll receive.
While estate agents can promise you the world and often result in disappointment if you are looking to sell in a hurry, they may not have the buyers lined up to buy your home.
You may have already tried to sell via an estate agent and met with false promises; delays and broken chains may scupper your plans.
If you need to sell your house quickly, you will need a cash buyer, such as us, to make a cash offer and complete the purchase within a few days – or a timescale to suit you if you are in a property chain.
High street and online estate agents often promise immediate property sale, mainly to convince you to sign up so they can secure your business. Still, often the reality is not quite as rosy.
Suppose you have plenty of equity in an inherited property. In that case, it makes sense to sell to a cash buyer because the longer your solicitors act for the estate’, the higher your probate bill will likely be – leaving you with little inheritance.
Selling without an estate agent often makes sense if all beneficiaries take a 10% discount for a quick sale.
Many sellers prefer the certainty and speed of dealing with a reputable buyer.
Our ‘We Buy Any House‘ service removes the stress of dealing with dodgy estate agents and non-committed buyers. Sell in just a few days rather than waiting for months.
Many buyers prefer the convenience of being able to find your property on Rightmove or other online property portals, and if they are interested, they can call an estate agent or make an enquiry via an online portal.
The Property Saviour team includes several skilled negotiators who have bought and sold houses, commercial buildings, land and investment portfolios.
We’ve cut through the red tape, overcome the legal hurdles, sorted the land registry issues, evicted the squatters, resolved the planning permission bungles and successfully sold properties that had no chance of selling via traditional methods.
We offer you a real alternative to selling via an estate agent.
Here are the disadvantages of using an estate agent to sell your house.
If you have invited an estate agent to give you a valuation, ask them if they are members of the Royal Institute of Chartered Surveyors (RICS).
If you instructed them to perform a RICS valuation, would their current valuation match the RICS valuation? If they hesitate to answer these questions, you have a good indication that they will have overpriced your property.
Many estate agents are rewarded for simply getting new properties onto their books and are not usually in a hurry to sell your house fast and lose your ongoing business.
They can get bored without movement and put their energy into another exciting sale. You’re left wondering what’s happening, chasing and feeling anxious while they proudly display yet another sold sticker on a property in their window.
High street agents can charge as much as 3% plus VAT for selling your property but only get paid when the property is sold. This delayed gratification often causes estate agents, especially the less-experienced junior negotiators, to become bored with any problematic property and seek other sales that offer the adrenaline high of a faster reward.
If the property needs improvements, such as a new kitchen, bathroom or central heating system, it will put off many buyers.
It is the sort of property that we would love to buy. Do you want to spend weeks or months making your property fit to sell? And then, when you eventually do get it on the market, do you want to wait months to get an offer?
Can an estate agent help you sell your house quickly when all they do is advertise your property online and wait for the phone to ring? We would instead give you the certainty of a quick cash sale through Property Saviour, so you can relax and move on with your life.
Suppose your property is not likely to be a straightforward sale, for example, if it has structural defects, has dampness or needs a dramatic renovation to be appealing. In that case, you won’t risk going with a “sole agency” agreement as you will limit your options to one agency.
Multi-agency contracts are often more suitable – you can advertise across several agents. However, both estate agents will each require a higher percentage commission as they aren’t guaranteed their commission, so they want more in fees to pay for their risk, time and inconvenience.
If you want to sell a house fast with an estate agent, you may be disappointed as it can take 3 months to 6 months.
This will depend on whether the buyer has secured a mortgage offer in principle, whether the solicitors for both sides are proactive in their conveyancing duties, the bank’s appetite to lend in a changing market, and whether your buyer has fallen in love with another property in the meantime.
It makes a lot of sense to try and sell your house yourself without any estate agent, as you’ll save on fees and deal directly with potential buyers.
The cost of Living crisis and higher interest rates have put off many would-be buyers as the media talks about a ‘property market crash’, so people would rather wait and see.
Nothing is certain – unless you sell to Property Saviour
The main takeaway here is to remember that nothing is certain in the property world, and a buyer who thought they could afford your house may suddenly pull out of the chain after months of negotiations, leaving you back to square one.
If you sell your home to Property Saviour, there is the certainty of a fast sale as we are the buyer, have the funds, and are happy to prove it.
Estate agents have often claimed to have a list of buyers, but the reality is that most of these buyers were landlords who would want to buy your house for a knock-down price.
These investors are now running for the hill since they cannot make a profit.
Property investors are selling up whole portfolios because of tax changes, including no longer being able to write off mortgage interest as a tax-deductible expense and the imposition of additional stamp duty (SDLT).
There is still a lot of uncertainty around the changes the economy will bring with elections around the corner.
Here at Property Saviour, we help sellers sell their homes without using any estate agency by offering them cash for their property, there are no fees to pay. We’ll even pay £1,500 towards your legal costs and complete it when it suits you – whether in the next 10 days or longer.
As professional cash house buyers, we are not reliant on mortgages, therefore we can buy your property with great speed and efficiency.
Our average completion takes just 10 days! This includes weekends too. Our fastest cash house sale took just 5 days!
If you choose to sell with Property Saviour, we will pay your legal fees of up to £1,500.
We realise that our clients are often in a challenging situation, worrying about the bills or struggling to keep the wolves from the door.
If you’re in debt already, you won’t be able to pay house selling fees, so the vicious cycle continues. This can affect your emotional well-being, and some people feel hopeless, depressed or even suicidal.
Our team are very sensitive to the issues you will be facing. Be honest with us. That’s all we ask. Let us help you break free.