Reduce your Property Selling Costs

Property DeveloperAny property developer will tell you that “you make your money when you buy not when you sell”. Whilst this is true there is no harm in reducing your selling costs either. Heres a few tips I follow;

Sell direct
Believe it or not more an more people are starting to sell direct. This route obviously won’t suit every property but if you have a 1 or 2 bed flat

in a capital city the chances are you’ll be very popular. So rather than giving away 25 to an estate agent why not try and sell direct their are plenty of web sites like gumtree that will advertise your property for a small fee. There’s also a number of online Estate Agents who will market your property through Rightmove and Zoopla for less than £200, and let’s be honest most people will start looking at property online first. Try HouseSimple or Homemarket if it doesn’t work then you can try a local or national agent, but at leased you’ve given it a try. If you succeed you would of saved yourself a fortune in fees.

Negotiate with agents hard
Estate agents charge a lot. In London there are some agents who will charge between 3% and 2% even though they have a list of hungry buyers on their books. So you can see why we all hate using them to sell property. My advice is to always negotiate hard, don’t let them talk about percentages, there could be a huge difference in just half a percent alway work with a calculator to see the real effects of what they are charging, you’ll be staggered. Once you shove the calculator under their nose and ask them “what will they be doing for that amount of money?” they’ll have to back down. Do it when you first meet, once you sign any contract you’re comitted.

Never pay for any marketing costs, even though they may ask you. If they want to sell it they pick up the marketing risk.

I’ve seen agents accept 1/2 a percent as a fee when times where tough, and that’s where we are now. Don’t try and be their friend they work for you to get the best price, if they can’t get it get rid.