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A NEW WAY TO SELL
(The Birmingham Post Via Thomson Dialog NewsEdge) In Britain, approximately 1.5 million homes are sold each year. We know this because, while promoting a previous TV show, we conducted a survey with Radio Times online. We also know that the way in which Britain's housing stock shifts from owner to owner varies enormously. Most vendors sell through an estate agent while some will wait patiently, hoping for a word of mouth "off the market" deal to an interested friend. Others sellers will position adverts in their local press and hope for the best. However, as far as we can see, each of these avenues has shortfalls. Choosing an agent means shelling out thousands, word of mouth can take forever and choosing a private ad is essentially limiting your market to those in your manor.
The day we realised we'd have to do something to help (in a different way to that which we normally do, i.e. "staging" and preparing homes for the market) was the very same day we watched David, one of our friends, recoil in horror as he examined his estate agency bill. Yup, there in black and white was a list of services that he had, in fairness, agreed before his agent popped a sale board in the garden of his four bed Chiswick semi. It read something like this. Press advertising for six consecutive weeks' pounds 1,250. Agency commission at 1.5 per cent of pounds 425K, the achieved sales price' pounds 6,375. The grand total payable to David's selling agent was a figure in the region of pounds 7,625 Ouch. Poor chap. He still bears the emotional scars...
When we saw his bill we got to thinking and asked David what type of service he'd received for his massive outlay. Transpires that after the initial valuation a sale board was positioned in his front garden, a tool, he'd been advised, that would be instrumental in bringing in potential buyers. As indeed it was. By all accounts approximately half of his viewers came via that route' they saw the sales board, called the number and the agent set up a suitable appointment. The other half of his viewers, he surmised, came from potential buyers who had scanned his estate agents website. So nothing new there then...
So we got to thinking a little more. Before long we birthed the idea of an online homes selling company, one that would draw on some of the principals used by the agent who'd sold David's house. There'd be garden boards or window "for sale" posters and there'd be a website listing. But there wouldn't be the same hefty charges, charges which we all know can run into thousands of pounds.
The principal would be relatively easy' sellers would arrange their own independent valuation by either engaging a surveyor or by assessing their home's worth via what's been sold and for how much in their area.
The seller would arrange all viewings by directly liaising with prospective buyers who would call direct via sales board phone numbers or website links. Finally, offers would be exchanged between the sellers and the buyers' solicitors and a deal would be struck. Simple.
So what are the main benefits of online selling - aside, of course, from financial betterment? Well in light of the unsettling Hornblower, a BBC documentary which panicked several million Britons about what went on behind the scenes of a particularly dodgy estate agent, selling your home at the click of a mouse can allay many worries. For starters, via online methods, there shouldn't be concerns about "offers" you never hear about. No worries about "deals" with clients, the precise details of which are never revealed to you. And once again... no huge fees. Which is, of course, the real money shot as far as most sellers are concerned. Of course for every naughty estate agent out there, there are many who're professional to the last detail' ones who do a very good service. But as good as they are, costs can escalate...
So online selling, in essence, is simple - you, as the vendor, cut out the middle man and do the biz' yourself. You make the appointments and you do the viewings. Chances are, of course, that even if you were selling through an agent you'd want to be around for those anyway - just to keep an eye on what's going on. Put simply - you retain complete control of proceedings.
And so it came to pass that, being already known for helping people sell their homes, we went the next step and, along with a consortium of investors, launched housemouse.co.uk. Think about the name for a sec - it's self explanatory.
House sales at the click of a mouse. Geddit? And it couldn't be simpler or less expensive. pounds 145 gets you started and that price includes marketing material (glorious window posters and magenta coloured 24" circular boards - and posts - delivered by mail to your door) advertising for the first period and a full package of advice and selling tips All you have to do is upload images of your house, position your online text, plant your sales board where it can be clearly seen and then wait for your phone to ring.
But it's not only us who have evaluated the worth of selling via the world wide web. These days, even supermarkets are getting in on the act, in a response to home sellers pleas for less expensive ways to shift property. Asda are the first retail giant into the fray, and their service promises to cut estate agency fees to approximately one per cent of sales value. Whether buyers become happy to pick up their next three bed semi while at the same time popping a stone of potatoes into their shopping trolley remains to be seen but anything, as far as we can see, that undermines the great British estate agency monopoly can only be a good thing.
But what of commentators who suggest the idea of selling one's home via a supermarket chain is preposterous? Well, as far as we can see, it might do them good to realise that as recently as a few years back it would probably also have seemed a little odd to head to the supermarket for insurance, furniture or clothing.
Of course plus ca change...
Other online selling companies such as homesonsale.co.uk and itlhomesearch. com are slowly coming to the fore and, as far as we're concerned, this is great news - having several professional players out there should help promote fair business and keep everything competitive - no bad thing where business is concerned.
So in short - there are choices.
There are many professional estate agents out there who do a great service but there's no denying that those costs can be huge. And of course a few grand saved at sales time could mean the difference between fitting that new kitchen or bathroom in your new home or having the spare cash to tackle that landscape garden project you so desperately want to complete. All that remains is to wish you good luck. Yup, it's time to sell, sell sell.
THESE DAYS, EVEN SUPERMARKETS ARE GETTING IN ON THE ACT, IN A RESPONSE TO HOME SELLERS PLEAS FOR LESS EXPENSIVE WAYS TO SHIFT PROPERTY. ASDA ARE THE FIRST RETAIL GIANT INTO THE FRAY, AND THEIR SERVICE PROMISES TO CUT ESTATE AGENCY FEES TO APPROXIMATELY ONE PERCENT OF SALES VALUE
Copyright 2006 Birmingham Post & Mail Ltd.
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