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Saturday, 21 April 2012

Why you should avoid using an agent while selling your property

Most of us think that selling the house is something that cannot be done without the help of an agent. Especially those who want to sell their property quickly always prefer hiring an agent to help him the quick sale process!

Well, let us just ponder over the details of NOT hiring an estate agent.
  • First and the foremost you save a lot of money that you will have to pay otherwise as the agent's commission. Typically an agent charges about 2.5 to 3 % + VAT of the selling price of the property.
  • For example if you sell your house for say £ 200,000 then you would have to pay about 7,000 to 8,000 £ as the agents commission.
  • Secondly a few agents use the trick of over-valuation of the property to secure their sale. Promising the owner that he will get a very high and dreamy price for the house is that agents do to assure their sale. The sale of property is delayed further and finally the house owner has to settle for the lesser price which in many cases is even less than the actual price.
  • Thirdly many agents refuse to decrease their commission amount even if the house is sold for a lower price as agreed at the time of fixing the commission.
  • Another thing that agents tend to do is to press the house buyers to buy your home out of a home loan which is connected with his agency so that they may take the advantage of their internal corporate rip-offs.
  • Before the introduction of social media and classified websites, the only way to access a wider network was through the use of the agents and their marketing schemes. But now you can post ads on the Online Classifieds for free, even you can get the help of Social Networking Sites such as Facebook, Twitter, LinkedIn, MySpace etc. to create a roll over the internet networks. The news on the internet spreads faster than anything else.


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