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[P685]Private Property For Sale
by P Green, P G
It is still a small number ? some people estimate that nine out of ten homes sold in the UK are still handled by estate agents.

So is putting on a private property sale something you should look at, or should you continue to place your trust in a professional agent?

We examine the pros and cons of doing a private property deal.

The main advantage is obvious: you save on estate agents' fees. These are normally a percentage of the sale price that is taken by the agent when the house sells.

You can also take full control of the process of selling. You don't have to wait to see how your house is being marketed or wonder how inquiries are going. It's all down to you when you're the one doing the selling.

It's also possible that by handling the property yourself, you can speed up the process, as there will be fewer people involved.

So those are the advantages, and the main one it seems is saving the commission. But if you examine what an agent does to actually earn that fee, you realize the expertise they bring to your private property sale.

First of all, an estate agent is there to value your property. It's not unusual for people to get three or four valuations from different agents to assess how much they will get for their home on the open market.

Agents base valuations on how much other houses in the area have sold for, taking into account the differences on your property.

It's not always sensible just to plump for the highest quote, and an experienced agent will tell you why. If you overprice your house you may find inquiries to be sluggish ? the market soon spots when the price is wrong. And many agents know that once you've set a price that's too high, even dropping it won't attract as many potential buyers as getting the price right in the first place.

Having a good agent with strong local knowledge will stop you making a pricing mistake.

An agent will also know how to market a property efficiently and cost-effectively. It's something they do day in, day out. Good agents have the ability to get houses onto powerful online property portals with huge levels of traffic. This is good for you as more website traffic should turn into inquiries.

There are plenty of private property websites, but few can rival the main property websites for the number and variety of homes.

Offline, the power of an agent's High Street shop window has yet to diminish. Displaying properties in the window is a strong source of leads for agents. We all like to browse properties for sale now and again, and a shopping trip is a convenient time to do it.

Plus think about people who are planning to move to an area they don't know. After looking for houses on the major property portals, they will visit the area and look round the agents' shops to find property. This is a source of potential buyers you'd struggle to tap into on your own.

Another thing an agent does that no private property site can do is find potential buyers who are ready to move straight away. If an agent has sold a property similar to yours, they may have had 15 inquiries ? meaning they already know 14 people who are still looking for a house!

Of course your agent will also handle cold inquiries and qualify people before bringing them to see your house. When you're doing the sale yourself, you'll have to sort out the time wasters from the genuine buyers.

Finally, when an offer is made, the agent will continue to earn their fee by acting as the middleman between you and the buyer. Many agents are trained in negotiating, and as they are not emotionally involved, can help to ensure you get the highest price. When you're selling it yourself, the temptation is there to take the first offer and run.

If you have a private property to sell off, you need to find a professional property agent to facilitate your selling process. A property agent is a professional who help in connecting buyers to you in the property industry. A good agent will help you to sell off your private property faster. Some of the property agents also do link up tenants to landlords for property rental. So if you intend to rent out your private property, you can also look for a property agent.

There are many ways to find a property agent to help sell your house. Newspaper, flyers, real estate chatroom and property listing directories are great places to find an agent. One of the fastest ways to find an agent is to log on to your local property listing directories. You should be able to find a couple of them there.

How does a property agent earn money from you? He or she earns from you by linking you up with potential buyers and charging you a commission when a deal is confirmed. If you are selling a property, the commission is usually charged to you, whereas if you decide to rent it out, the commission will be charged to you and the tenants involved in the transaction. So how much does an agent charges? It is usually a percentage of the selling price or part of the rental. Therefore, before you engage him or her, make sure that you find out what is the percentage fee the agent is charging.

Once you have engaged an agent to represent you, you should leave the keys with him or her so that whenever there is someone who is interested in your house and wants to take a look, the interested party can contact your agent directly. This will speed up efficiency and save you lots of hassles.

One of the benefits to look for an agent to sell your private property is that a lot of home seekers love to seek out property agents to get properties fast. As the agents are very familiar with the real estate industry, it makes sense for home seekers to approach them and get ideas of the going rate for properties in their respective region. This means that your agent will have a very wide network of potential buyers and you absolutely need to leverage on that.

Last but not least, you need to look for trustworthy agent to represent you. You should go to property website and directories which offer reviews and testimonials of agents for the transactions that they have done it the past. If you are comfortable with review of a particular agent, you can contact him or her for a discussion to sell off your private property.
Article Source : Pg. 2

About Author
Both P Green & Cheow Yu Yuan are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

P Green has sinced written about articles on various topics from Property Guide, Foreclosure Help and Real Estate. For further information on how to , please visit
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