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Improved Choices For The Benefit Of Home Sellers

By Jake Stevens

Property selling in the UK these days is totally different from selling properties five years ago and it had been more different than what it was ten years before. Thankfully, the difference between selling property now compared to earlier times is that it purely got better for both the seller and the buyer.

We all know that these days, there is a lot of properties for sale being heavily marketed online. Several of these properties are marketed on property sites by real estate professionals, but there are many websites that let people who would like to sell their property be advertised on it without having a middle-man. Moreover, you can find nowadays a new kind of estate agents- the online agents who charge a one-off fee to sellers to advertise their property plus providing them with additional service such as negotiations and viewings.

This is a very good benefit to sellers since they are able to have more options and will get value-for-money which will also increase the likelihood for them to get a good price for their real estate.

In a large-scale study the Office for Fair Trading conducted recently regarding home-selling in the UK, 32% of those asked stated that they feel the charges the real estate agents receive is slightly poor if not very poor value for money. The results caused the OFT to suggest to sellers to bargain for a lower fee for their agent and look for better prices.

The main result of the OFT study recommends that the market must be adaptable enough to make room for new models of business. A suggestion that was outlined was that those websites who simply introduce the potential buyers to private sellers must not be mired with unnecessary rules.

OFT Chief Executive John Fingleton said:

‘In the present economic climate it is more important than ever that people get a good deal when buying or selling a home.

‘Encouraging new business models, online estate agents and private seller platforms could put useful competitive pressure on traditional models and lead to better value for buyers and sellers. The Government can help this process by updating legislation and making sure regulation only applies where it is essential to protect consumers.

‘We also encourage home sellers to negotiate hard on commission fees and consider using alternatives to traditional estate agents.’

The OFT study have found out that private sales websites like The Little House Company cannot advertise in the Rightmove which is UK’s biggest portal and also with several other portals that forbid private sales sites simply because that their main market are the real estate agents.

One thing the OFT didn’t suggest, but that would likely be a good idea for the future of private sales, is the formation of UK bodies relating to the industry. Estate agents have the National Association of Estate Agents, which unites the industry and can be used to apply pressure to the likes of Rightmove.

The good thing is that choices are now available. Home-sellers can now promote in their local market and have a god price for their properties without needing real estate agents if they would like to. Home-sellers and buyers alike can now make a deal directly with each other and talk of a fair price for the property and buyers also have to choice to view the properties instantly on the internet. Choices available are wonderful for consumers in any industry and this does not exclude property selling.

We should hope that the OFT findings will deliver results so that property selling in the UK can have more choices in the foreseeable future which will make it more different say in another five years.

Now that you know the challenges you face in the current property market, visit the our website and read our expert guide on how to find the best mortgage deals. Gavin Brazg is editor of www.TheAdvisory.co.uk – the UK’s largest free resource of free expert advice for UK property sellers.

Article kindly provided by UberArticles.com

Topics: Real Estate | Comments Off

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Article Citation
MLA Style Citation:
Stevens, Jake "Improved Choices For The Benefit Of Home Sellers." Improved Choices For The Benefit Of Home Sellers. 7 Oct. 2010. uberarticles.com. 13 Oct 2014 <http://uberarticles.com/real-estate/improved-choices-for-the-benefit-of-home-sellers/>.

APA Style Citation:
Stevens, J (2010, October 7). Improved Choices For The Benefit Of Home Sellers. Retrieved October 13, 2014, from http://uberarticles.com/real-estate/improved-choices-for-the-benefit-of-home-sellers/

Chicago Style Citation:
Stevens, Jake "Improved Choices For The Benefit Of Home Sellers" uberarticles.com. http://uberarticles.com/real-estate/improved-choices-for-the-benefit-of-home-sellers/


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