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Should You Sell Your Home Privately?

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A lot of people hire the help of estate agents when selling their home. However, it’s possible to sell your home privately without the help of an agent. Below are a few reasons to sell privately and a few reasons to use an estate agent compared so that you can make the right choice.

Why sell your home privately?

A big advantage of selling your home privately is that you don’t have to pay a percentage fee to an estate agent. This allows you to keep more of the money to yourself and potentially make more profit. If you’ve still got a lot of your mortgage to pay off or are looking to place a hefty deposit on a new home, it could benefit you to sell privately so that you can make as much from the sale as possible.

Selling privately also gives you more control over the sale. You don’t have to communicate through a third party – instead you can communicate directly with buyers and do things on your terms. You also have more freedom as to how you advertise your home and at what pace you manage the sale process. For some people, this sense of control can be important. 

Why use an estate agent?

Most people are willing to spend money on estate agents in order to relieve a lot of the stress and hassle involved with selling a home. Marketing your home yourself can take a lot of time and effort – it’s much easier to hire an estate agent to do it for you. Estate agents can also conduct viewings for you when you may not be around, as well guiding buyers through the paperwork. In turn, you get to focus more on other aspects of the sale such as preparing for the move or finding your new home. 

The knowledge that estate agents have is also valuable. They have a better idea of how to value and market a home, as well as how to lead negotiations. They may also be able to share comparisons to other properties they’ve seen locally to strengthen the appeal of your home. Sellers can benefit from their guidance, while buyers may trust a property more that is being sold by an estate agent. 

Which is the best option for me?

If saving money is your priority, you may want to consider selling privately – you could save yourself thousands. Just be sure that you’re prepared to handle all of the marketing and viewings. Having a lot of time and flexibility could be important if you choose to sell privately.

If you’d prefer to minimise stress, your better option may be to hire estate agents. With an estate agent, you don’t have to be as flexible and you don’t have to do any of the marketing. It will cost you a lot more money, which is something you need to be able to budget for. You also need to be happy to give up some control to the estate agent.

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