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beware of selling privately online

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  • beware of selling privately online

    Selling privately online is fairly safe but there have been reports of estate agents taking your details of your house and placing your house for sale via their site at a higher price so they receive commission. Keep an eye out!

  • #2
    I would be wary of selling a house online, that seems a bit risky to me. Maybe I'm just old fashioned.

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    • #3
      I never really even knew you could do this privately. I always thought when you sold online it was just through a real estate agents site. Interesting tip though.

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      • #4
        I'm not certain how an estate agent could get away with that. If you haven't signed with an agent and don't have a contract, I don't understand how they could get away with the sale. You could just say 'no', couldn't you?

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        • #5
          I didn't know that there are people that are doing something like that but I wouldn't be suprise. People would do almost any means necessary for a quick buck.

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          • #6
            i think they could advertise your house and may even find a buyer but its up to the owner to sell. although if they have got a buyer interested even at a higher price, thats how they make the commision, then if the seller is happy with the money he wanted originally then why not sell?
            www.gekkoportugal.com
            A guide to buying property in Portugal
            www.chavetejo.com
            INCI Estate Agents, AMI 7856

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            • #7
              I wouldn't rush into selling a house online myself - for a start, an individual as compared to an estate agency just doesn't have the market distribution to attract potential buyers.

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              • #8
                Thanks for those tips, if I do decide to buy a house, I'd look for an agent and ask to talk to them personally. It's such a booster for me doing research on such things.

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                • #9
                  As much as I like the Internet and use it for a great deal I do not think I would want to sell my house online.

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                  • #10
                    I think it is OK to advertise that you are selling property online but you still need to do the transaction offline when you found a buyer.

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                    • #11
                      Omastra06 has the general idea. The estate agent strips the details from am internet property marketing site and then, if it can find a buyer, the private vendor is approached. If the vendor wishes to enter the deal, then the vendor signs a contract that allows the estate agent to levy their fee upon the completion of sale.

                      This is actually quite healthy because, if the vendor so wishes to, they can enter the greement. However, if they choose to leave it, they can carry on marketing via the internet marketing site and are not legally obliged to pay the interfering estate agent anything.

                      Notice I use 'internet marking site' rather than 'privately through the internet'. The reason is that many internet based sites are actually estate agents or are put their by estate agents. As someone mentioned above, they would go to estate agents as they have better coverage. Well, they achieve this partly by having a good network of marketing outlets on the internet, as well as local media coverage and of course their high street shop. This is why you pay estate agents £thousands and why some internet marketing sites will charge you far less.

                      The point is, anyone can take any information from the internet. Estate agents are seeing the traditional views of many sellers gradually swaying from estate agent only to what we have today as a mix of private and estate agent sales. So, employing other tactics to boost business is just one way of staying in business.

                      Regards

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                      • #12
                        the main objective is to find a buyer...as long as the seller is happy with the price they get then its a result for the seller... the house gets sold..no matter how the buyer is found..
                        www.gekkoportugal.com
                        A guide to buying property in Portugal
                        www.chavetejo.com
                        INCI Estate Agents, AMI 7856

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                        • #13
                          Selling your own property online is the future of property selling. No longer do you have to go to an Estate Agent and pay thousands in commission for them to advertise it for you. Lets not get confused the majority of Estate Agents do an excellent job of selling your property, but its about time that alternative came about, and private selling is it.

                          My website along with many others are now offering a full one stop shop for people looking at giving it a go selling by themselves.

                          Sites can offer you advertisng across the internet.
                          For sale boards outside your property
                          virtual tours
                          floor plans
                          house pricing methods so you can set a realistic price.

                          You then can sit back and wait for enquirys. When they come you show them around your house, after all you know more about that property and the local area then anybody.

                          If an offer is made, and you accept you just exchange solicitors details and the purchase process begins just as if you went through an agent.

                          Websites will also guide you for choices of solicitors, removals and much more so the whole process can be handled by yourself easily and save you thousands of pounds in commission.

                          This method has been common place in US for ages, and its now time for the UK home owners to have this option.

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                          • #14
                            I think the future of marketing homes is online and with technology getting better everyday this will ensure that buyers see what is available virtually instantaneously.

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                            • #15
                              I think this is a great way of selling a property because i found when i was working as an agent we would get vendors to do the viewings for us anyway so you might as well save yourself a couple of grand, just got to make sure you go with a website who advertises it right.
                              www.rpbrelocation.co.uk

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