|Estate Agents definitely have an important role in selling homes; they have the extensive contact databases of house-hunters, and will take things off your hands and arrange and manage viewings for your property.
However, with Estate Agencies increasing their fees annually, home owners have started boycotting agencies. There is a major new trend developing for buyers to sell their properties online, and specifically asking for ‘No Agencies.’ With the average global property now on the market for hundreds of thousands of Dollars, and Estate Agent fees charging buyers 2-2.5% of the property value, that would amount to considerable amounts of money being saved.
Then, of course, there are the additional commission charges payable by the sellers, making it easy to see why sellers are fighting back. Theoretically, if you post your property on leading property websites, you can communicate directly with potential buyers or rental tenants, and save yourself huge amounts of money in return for your time, patience and organisation skills.
There are many tricks to organising a successful open day, but you should always seek legal advice every step of the way if you decide to cut out the agencies. Despite the growing trend to go it alone, there will always be a place for Estate Agents in the market thanks to their contacts, experience and knowledge of how and who to sell to. Have you ever sold or brought a property without involvement of an Estate Agent? We’d love to hear your stories.