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Selling high value property without an agent

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  • Selling high value property without an agent

    I’m fortunate enough to live in an exclusive waterfront location on the south coast.The house has six bedrooms, but is falling apart.The location, however, is ‘to die for’ and many of the properties in the immediate area have already been redeveloped, with lavish multi-million pound homes becoming the norm.

    My circumstances dictate that I’ll need to sell the house within the next three years, but it’s really important that I get the best price I possibly can.Needless to say there’s no shortage of interest from estate agents eager to sell the property and I’m sure that if I needed to sell quickly, this would be the best way to go.However, I do find it difficult to accept the huge fees involved and would like to explore the possibilities of selling without an agent.

    I’m not ready to move right away so I don’t need to make any hasty decisions, but are there any reasons why I shouldn’t put the property on the market now myself and just see what happens?I don’t really see what I have to lose, but I may be being naïve.I’ve never seen any other properties of this value sold without an agent – It’s just not done, but I’d like to know why and if there would be any negative consequences in doing so.

    I can see that an agent will be able to reach a much wider range of potential buyers and it may well be that I sell this way in the end anyway, but I know from conversations I’ve already had with agents that they’d not be happy putting it on the market at the sort of price I’d like to get (significantly above their estimate of its value).Ultimately, like any property, it’s value is value is determined by whatever the buyer’s willing to pay and it would only take one person with deep-pockets and the ability to imagine their dream home in this idyllic location to make it all very worthwhile.

    One problem may be that I’m not ready to move right away although, having said that, I’m sure if I were to receive a suitably attractive offer, I could be persuaded to fast-track my plans. On the plus side, properties of this type don’t come up all that often and prospective buyers often take the long view where this type of purchase is involved.So putting the property on the market now with a view to selling some time in the near future may well be not such an inappropriate idea after all.

    It may just be that nobody does it because nobody’s doing it, but I may be indulging my wishful thinking here and come down to earth with a bump when the pitfalls are pointed out.I’ve posted this on a number of property forums in the hope of getting some useful feedback, so any constructive comments will be most welcome.