When it comes to selling your house, there are plenty of avenues to explore. Whilst an estate agent is the route that most sellers will opt for, that does not mean they are for everyone. Selling without an estate agent is becoming a choice that is becoming increasingly popular with house sellers, however, if you have no experience in the area, it can be a daunting prospect.
In this article, we will be looking at how to sell your property without an estate agent, what your options for selling a house independently are, and how you can sell your house privately.
If you are looking for a quick answer, check out our interactive menu below!
- Can I save money by not using an estate agent?
- Can I sell my house to a friend without an estate agent?
- Can I privately sell my house to a family member?
- Can I sell my house privately on Rightmove?
- What are my options for selling without an estate agent?
- What do you need to know before selling your house without an agent
- How to sell a house privately
- How long does it take to find a buyer when selling privately?
- Pros and cons of private house sales
- Is it easy to sell a house without an estate agent?
Subscribe To Our Newsletter
Can I save money by not using an estate agent?
Every estate agent is different, however, as a rule of thumb, they will typically charge between 0.75% and 3% on the final profit from your property sale. For example, if your property is worth £280,000 then you can kiss goodbye to £8,400 of your profit as this will go to your agent.
Some online estate agents have a set fee if you decide to sell your property through them. The exact amount you will pay varies, however, it will often fall between £300 and £1,500. This fee will not change in spite of how much your house sells for.
If you do not want to lose any profit from your house sale, then selling your property yourself is certainly an avenue to explore, however, it is not without difficulty.
Can I sell my house to a friend without an estate agent?
Yes, you can! One of the hardest parts of selling your house privately is trying to find a potential buyer, but if you already have one lined up in the form of a friend, then you will be able to kick start your selling journey quicker. However, whilst you are selling to a friend, it is important that you still follow the same rules that you would if you were selling to a stranger, this includes making sure they are approved for a mortgage.
Can I privately sell my house to a family member?
Yes, you can! You are able to sell to a family member without the need to involve an agent. However, as we have already mentioned when it comes to selling privately to a friend, you must be careful to comply to all the necessary steps that you would if you were selling to a stranger on the open market.
Can I sell my house privately on Rightmove?
Unfortunately, unless you have listed your property with an estate agent, property portals such as Rightmove and Zoopla will not let you advertise them. You must be listed with an online estate agency, high-street estate agency, or hybrid estate agency in order to qualify. Thankfully, there are other options when it comes to selling your property independently. You can use social media, free house advertising sights as well as the local paper.
What are my options for selling without an estate agent?
When it comes to selling your property without the aid of an estate agent, then there are several different routes you can go down. Below are four of the most popular options for selling your property without a traditional estate agent:
- Part exchange the property
- Go through a cash buyer
- Use an auction
- Sell it yourself
Part Exchange The Property
If you are looking to sell your home without an estate agent and wanting to purchase a new build, then part exchanging may the property sale solution that you are looking for.
A representative from the developer will come to value your property, who will then offer you around 65-70% of its market value. Whilst you will not be offered full market value, you will become chain free as you will have sold your property first.
A cash buyer is another option that you can explore when looking to sell your home without an agent. A cash buyer is the best way to ensure a quick sale on your property, without using an agent. When you sell through a cash buyer, you are guaranteed a sale in a timescale that suits you, meaning you can sell your property in as little as seven days or as long as 3 months, depending on who you sell to.
However, if you are selling with a cash buyer then you need to be aware that you will be receiving less than market value for your home. If you are looking to walk away with full profits then selling through a cash buyer may not be for you.
When looking to sell a house privately without an estate agent an increasingly popular choice is to sell through an auction. An auction works by agreeing on a minimum reserve price for your property, and if a buyer meets the reserve price then it sells to them.
A best-case auction scenario is that multiple buyers are interested in your property and will be outbidding each other, raising your total profit.
A positive to selling through an auction is that sales very rarely fall through as any buyers will lose their deposit as well as incurring fees and penalties if they decide to pull out of the deal.
However, property auctions do bring their own problems as well. One of the issues is that auction sales involve a lot of waiting. Marketing, viewings, and valuations can all take up to a month to complete and if it is a busy month you may have to wait for the next auction to try and sell.
Even after the auction is complete, you will still have to wait a month or more for the paperwork to go through, which adds more time to what can already be a delayed process.
On top of this, selling at an auction is not without cost. Auctioneers charge fees to cover the cost of marketing and selling your home which can once again eat away at your final profit.
When you’re selling a house without using an agent there are plenty of elements you will need to consider. It is not a small feat so it will need to be undertaken with care and planning. Below, we have written our guide to selling without the help of an estate agent.
What do you need to know before selling your house without an agent
If you decide to sell your home by yourself, there are a couple of questions you will need to ask yourself before committing.
- Are you able to negotiate with people directly?
- Are you confident enough to conduct viewings on your own?
- Do you have competent knowledge in the area in order to sell on your own?
- Do you have the time to organise a house sale?
- Do you and your interested party have tight time frames to adhere to?
If you do not already have a buyer lined up, then it is particularly important that you consider these questions carefully. You will need to carefully consider all the additional costs that selling your house privately may bring. Whilst you are saving on the fees an agent would charge, you are also having to pay the extra costs that come with the sale, such as paying for floorplans, photographs, solicitors, and other costs. Below we have broken down some of the most common costs you will have to pay when selling:
Comparatively, bricks and mortar estate agent costs are below:
|Estate agent fees
|0.75% – 3% of selling price
|£500 – £1,800
|£50 – £120
How to sell a house privately
If you chose to sell your property without an agent then there are several steps you will need to take in order to have a successful sale. We have broken down our six steps to a successful private house sale below:
- Make your home stand out– When it comes to securing the best possible price for your property, you need to make sure that your home stands out both inside and outside. without an agent to talk up your property, you will need to make sure that it is up to scratch. This means deep cleaning, decluttering, repainting any tired-looking walls or fences, ensuring any issues with the property are fixed, and making sure the house is in top condition.
- Value your house and write a description– The most important stage of your house-selling journey is deciding on what price to set for it. Correctly valuing your house will mean a better sale price for you, so it pays to do your research! There are free online valuation tools that can give you a rough guide price, as well as online property portals and indexes to help you determine your price.
- Listing your property– It is time to put your property on the market! As we have already mentioned, selling without an agent means that you will not have access to property portals such as Rightmove and Zoopla, however, there are still plenty of online private house-selling websites that you will be able to advertise on some of them for free! However, social media and even the local paper are also valid routes that shouldn’t be overlooked!
- Viewings– The price of your property plays a big role in your house sale, however, viewings are where your house can really shine. As you will be without an agent, the responsibility of arranging bookings as well as hosting them will fall squarely on your shoulders. Be sure to keep track of who is booked in when, as well as having a list of talking points and features you will mention during the viewing.
- Negotiating offers-Once you have received an offer it will be time to negotiate. In order to negotiate a successful house price, you will need to have a plan of attack at the ready. You should aim to negotiate in person where possible and over the phone if that is not possible. This is because buyers can hide behind a phone or computer, it is harder to give a lower offer when put on the spot.
- Legal discussions – Legal discussions are a critical part of the house-selling process, so it is important to choose a trusted solicitor. When looking for your solicitor, you should compare quotes, look around at reviews across various platforms, and listen to recommendations from others who have purchased homes recently.
How long does it take to find a buyer when selling privately?
It is no secret that finding a buyer is often one of the lengthiest parts of selling a property without the help of an agent. As we have previously mentioned, unless you have a buyer already lined up, you will be at the mercy of the open market. It takes an average of around 2-3 months to find a buyer
Exactly how long your property sale will take boils down to the following criteria:
- The property market – Is there demand in the market? Are house prices going up or are they going down?
- The property area – Does it have many good transport links? Is it in a good school catchment zone? Is it a desirable area?
- Asking price – Is it too high?
- Condition – Is your property in good condition, or will it only appeal to a developer?
Pros and cons of private house sales
As with any house-selling decision, there are pros and cons to deciding to sell a property without an estate agent. Below, we have broken down some of the common pros and cons that come along
- Your sale will be your top priority. When you sell with an agent, they will have potentially 20+ sales going through at any one time, whereas when you sell by yourself, you are your number 1 priority!
- If you decide to sell to a friend or family member, you will not need to spend time looking for a potential buyer, which will speed up the sale considerably.
- You will be able to sell at your own pace and in your own timescale.
- Advertising costs are relatively small and depending on your chosen method can sometimes be free. You will also be able to dodge hefty fees as estate agents charges can reach the £1,000s.
- Organising a house sale without using an agent can be time-consuming at the best of times, especially if you are without the experience.
- You will not have access to the list of clients or resources that estate agents have.
- If you have no in-depth experience with house sales, then you will have to cover a lot of ground to educate yourself properly on what it involves.
- Any schoolboy errors you may make will fall directly on your shoulders and could end up on you losing your house sale altogether.
Is it easy to sell a house without an estate agent?
At the end of the day, whether or not selling a house without an estate agent is the right move for you is a decision that only you can make. It is not a decision to be taken lightly so it is critical you weigh up the pros and cons carefully before dipping your toes into the world of independent property sales.
If you are dead set on selling without an agent but are unsure whether you are fully equipped to sell by yourself, then you should take your time and research the other selling options mentioned in the blog post, such as selling through a property auction, cash buyer, or part exchanging your property.
This covers everything you need to know about selling your house without an estate agent. If you have any questions, queries, or insight into the matter, please feel free to get in touch.