In an ever uncertain housing market now more than ever people are looking for new ways to collect more equity out of their property investment.
With house prices levelling off, and even falling in some regions it has become clear that sellers are having to look for more ingenious ways to boost their profits.
Unfortunately for estate agents it looks like it is their commission that seems to be in danger. Whilst some people will still need an estate agent to act on their behalf a growing number are finding that they are more than capable of marketing their own properties.
If you can show someone around your own house why pay thousands for someone to do it?The Department for Communities and Local Government have valued the average UK property at £218,330. An estate agents fee at 2% would be £4366.60 not including VAT.
So even if you own a property outright by saving on these fees it would be the same as experiencing a 2% rise in your equity. Should however you have a mortgage to pay off your equity will be less and the percentage of your profit an agent takes will grow.
The ‘for sale by owner’ market is growing each year in the UK and is expected to keep growing to levels seen in the USA where it is a well known and established practice. There are many websites out there that range in quality and price, however generally, for under £150 you can purchase a ‘for sale sign’ to display outside your property, and an online advert.
These adverts are displayed on leading property websites that estate agents use to advertise their property.
Websites like [http://www.MoveWise.co.uk] can help sellers reach millions of potential buyers each month. The image private sellers can now project is every bit as professional as an estate agent. If you are due to sell your property and are worried about the state of the housing market it is well worth sitting down and having a long hard look at your options. It could be very expensive not to.
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