How to sell your own home #1 An overview

Selling your home online is fast becoming a popular way of trading property. The internet has made it easier for individuals to find buyers themselves and bypass estate agents, which can save thousands in expensive commission fees.

But should you get your hands dirty and manage your sale yourself, or should you leave it up to the professionals? In this feature we see how selling your own home works...

 
Getting started

There are a number of ‘sell your home' websites on the market. Most involve making a one off payment in return for your own advert and a For Sale sign to place outside your home. Depending on the scheme you go with, you will be able to market your property through various property classifieds sites.

With up to 80% of all UK property buyers using the internet to find their next home, it's an appealing proposition. One such online offering, the Little House Company, says:

"If people price their property competitively, write a clear concise description and use good photographs, modern internet services offer homeowners just as much chance of selling a home themselves as with an agent, whilst maintaining much more control over the process. But it's without the commission overhead - which makes up by far the largest element of the cost of moving."

 
Can you sell online and use an estate agent?

One misgiving is that you won't be able to sell your home yourself if you've already instructed an estate agent to sell the property for you. It is possible to use an estate agent and an online service but be careful of the small print. If a company can be classified as providing ‘estate agency services' then under a sole agent agreement, you would be liable to pay a fee. You should always be upfront with both parties to avoid a conflict of interest. For more information you can refer to the Office of Fair Trading's guidelines.

 
Quick results

One benefit of selling online is that the results can be instant. It also eradicates the possibility of being duped by a dodgy estate agent. One Little House Company customer said:

"Within three days we had five enquiries, two viewings and most importantly, an offer. With a fast sale agreed, we waited to see if it was too good to be true, but when we exchanged contracts on the sale we had to admit that we had spent a very clever £135, saving us up to £7000 in estate agent fees. Even more than that, we felt that we were in total control of the marketing, negotiations and the sale."

Step-by-step guide

If you're considering a private sale rather than using an estate agent, it's important to brush up on the finer points of the process. Our steps for successful solo selling can help you do it yourself.

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