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Helpful Advice

The Pitfalls of a DIY Sale

The Pitfalls of a DIY Sale

By Peter Barry

If you want to keep hold of every penny of your property sale, it might be tempting to forego the estate agent and sell your home yourself. The thought of a few thousand pounds extra to put towards your new house means more people are trying out DIY house sales. But do you really save money and what happens when things don’t quite go according to plan?

Hop on the net

In recent years there has been a surge in the number of DIY sales sites and companies who charge a small fee for a for-sale board, leaving you to do the rest and essentially work as your own estate agent. The idea is that you simply show a few people around your house, answer a couple of questions, fill in some forms and walk away with the full sale price, rather than handing over a portion of it to an estate agent. And there have been success stories – instances where sales have gone smoothly, buyers have been textbook clients, the transaction has been flawless and there have been smiles and handshakes all round. However, change just one of these and you could have a disaster on your hands.

Marketing your property

A repeatable estate agent will have extensive local knowledge of the market, as well as a contacts book packed full of potential buyers they can line up for viewings as soon as your property hits the open market. And it doesn’t end there – while your DIY sale will be listed online (or you might have created your own website), how will people find the details unless they’re looking at that specific website? Will your house details crop up on internet searches, on national property websites or in local publications?

Problem solving

If you don’t like confrontation, you’re not a natural negotiator, or you’re not a salesperson, chances are you’re not going to get the best price for your property if you sell it yourself. An estate agent will help to create a buzz for a well-presented property and ensure you get the right price and the right buyer. They will be the first port of call for any issues that arise and they will help to keep the purchase moving forwards, leaving you to carry on with your day-to-day life. Do it yourself and your sale could end up being all-consuming.

Selling a property isn’t just about freshly baked bread, de-cluttering and signing on the dotted line; it’s about negotiating a tricky transaction from the acceptance of an offer right though to completing the deal. A lot goes on behind the scenes and a good estate agent will more than earn their fee.