Well the house went on the market on the 22nd March – I did pull out all the stops and get it listed before Easter. It was a bit of an anticlimax after the chaos of getting the listing to go live because I didn’t have any viewings over the long weekend, but it was an interesting exercise.
I decided to take a punt with this house sale and to use an online estate agency – you may have noticed in the picture on the previous post. Having bought and sold before, worked at an estate agents for a short time and being the daughter of someone who is the third generation to run a family owned estate agency, this could have been a controversial move! So I didn’t tell anybody I was doing it. But the numbers stack up – SERIOUSLY.
In the UK estate agents fees are 1-1.5% of sale price and there is VAT added to that, so this is a chunk of money to part with and the previous sale had given me cause to complain about the behaviour of the agent handling my property. I didn’t want to be mucked around or to feel that I had no control, (both of my children are doing major exams this term) so my research instead was of the type of package offered if you took some of the responsibility for the sale yourself.
At the end of the day as a designer I draw plans and take photographs almost every day. It seemed just an inconvenience to have someone else do them for me. I also liked the idea of being able to schedule the viewings according to my commitments, instead of rushing out of the house in the morning and just hoping that everything was looking ok. I work from home, so some rooms are always more lived in than others, I had a house guest (who was with me for eight weeks) and I also have a dog, a very excitable puppy who loves everyone. I needed to be able to have her contained and happy – and I wasn’t sure how she would take to having an agent she didn’t know in her domain.
When I sat back and thought about it, I decided that having a local agency involved could possibly be more stress than I could cope with, so doing some of the work myself and having the property listed on a hosting site was the way I wanted to go. Never having done it before, I was keen to see how it worked. And for someone who does computer drawings almost every day, I was surprised at how much time it took me to do my whole-house floor plan. Who knew!
And how has it all gone? The house sold itself really. Apart from turning my car into a mobile storage unit (bursting at the seams with laundry baskets and ironing, dog toys, partially eaten Easter eggs, leftover tiles from the kitchen and winter hats and gloves, not quite finished with for the season) I had the place looking as good as it could. I had four viewings in the space of a week and the third viewing made an offer – which I didn’t accept – and then increased to a price closer to what I wanted. So I accepted that. I can’t say that being with an online agency had anything to do with that!
In fact I’m not sure being with an online agency has done anything other than give me more control over the viewings and viewing schedule. I’ve had to chase them for information about my buyers, I’ve had to follow up each conversation with checking the website – as opposed to my ‘dashboard’ – and another phone call to check that things have been done. Considering they sit behind computer screens – the very definition of an online company – I honestly can’t say I’ve felt that they were more efficient than an agency conducting the viewings for me. So, the only real benefit then is the hugely reduced fee? Yep that’s about the size of it. From my experience at any rate.
And this should be something you take into account when you want to choose an estate agent. If you work full time, conducting the viewings yourself will be hard, unless you can opt to work from home on certain days and take some time from that schedule. If you have a young family who need your full attention when you’re at home, then this too will make taking responsibility for the viewings hard work, especially if they have a sleeping pattern that rules out certain times of the day. And you have to keep things looking immaculate (or as close to) because when you take people around your own house, you’re aware of the things they don’t like by what they don’t say. It can feel very personal – if that’s going to make you feel unsettled, then this process isn’t for you.
I’ll tell you the one thing it has done though, listing my house with an online agency has given me the choice to accept a lower offer than I might have done. That probably sounds counter intuitive, but because the fees are so much lower I’m actually ahead of where I would have been – by about £14,000 – if I’d sold through a local agent. So what it really does is give you more control over the money going into your pocket. That £14K will go a long way to paying my stamp duty on my next property. And as soon as I exchange contracts, I’ll tell you all about it.