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Special Report
Part 1:
1. Why do estate agents sell homes for an average of 3.7% less than they are worth?
2. Just how expensive are estate agents, really?
3. Why do estate agents deliberately overvalue homes (before they undersell them)?
4. Why do estate agents take 50% longer to make a sale than private sellers do?
5. How much poorer will using estate agents make you in retirement?
6. What are the other hidden costs of selling through an estate agent?
Part II: The 7 Things to Look For When You Sell
Methodology
1. Why do estate agents sell homes for an average of 3.7% less than they are worth?
2. Just how expensive are estate agents, really?
3. Why do estate agents deliberately overvalue homes (before they undersell them)?
4. Why do estate agents take 50% longer to make a sale than private sellers do?
5. How much poorer will using estate agents make you in retirement?
6. What are the other hidden costs of selling through an estate agent?
Part II: The 7 Things to Look For When You Sell
Methodology
4. Why do estate agents take 50% longer to make a sale than private sellers do?
Research carried out by Alliance and Leicester in 2007 showed that not only was selling privately becoming more popular, but that private sellers sold their homes more quickly than sellers who used estate agents. On average private sellers sold their homes in less than 2 months while estate agents took more than 3 months to make a sale.
The explanation for this is that private sellers are motivated to push the process along and can focus exclusively on selling their own home, whereas estate agents spread their energies between many properties at a time.
By cutting out the middleman a private seller can chase up leads more efficiently, arrange viewings directly and get things done during evenings and weekends all of which lead to a quicker sale.
Also, when conducting viewings, no one knows your home or your local amenities as well as you do. Sales talk is no substitute for genuine enthusiasm and local knowledge, which is why estate agents are no match for a passionate, motivated seller explaining why their home is a great place to live.
Bear in mind, as well, that in a falling market an extra month taken to sell your home could easily cost you 1 - 2% of its value.
