So you have decided to sell your property and you are now wondering, “Can I sell my property without an Estate Agent?”
The answer is, of course. If you want to get the most from your property sale, it is time to consider the DIY route.
There are plenty of ways to sell your property yourself with the Internet and social media being so interactive, it is also where most buyers look first when searching for properties to buy.
The DIY route not only means more control for you but it means you are not tied down to a contract which you may or may not be able to get out of.
What you need to know about estate agent contracts
There are a number of different contracts an estate agent will offer:
Sole selling
This means that the estate agent is the only agent with the right to sell your home during the term of the contract. The estate agent is entitled to payment, even if you find a buyer yourself. We recommend you don’t sign a contract with sole selling rights.
Sole agency
Sole agency is the most common estate agent contract. This is the same as sole selling with the exception that, if you find a buyer yourself, you dont have to pay the estate agent fees.
However, if sole agency contracts are open-ended, an agent can still claim commission if it introduced a buyer – even if the offer is made months (or potentially years) after the estate agent stopped marketing your property.
Multi agency
This means that several estate agents act for you, but only the agent that sells your property is entitled to receive a commission. The commission rate is usually higher for a multi-agency contract.
Ready, willing and able purchaser
If this clause is in your contract, dont sign it. It means youll still have to pay the agent for finding a buyer even if your situation changes and you have to withdraw from the sale.
Being a DIY property seller might sound scary, but in actual fact you are much more in control of who comes to view the property and who you sell it to, no contracts and no huge fees to pay at the end.
Nick Marr
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