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Home sellers could bypass estate agents

Mortgage Solutions
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Posted:
13/10/2009
Updated:
13/10/2009

Nearly one in five people considering selling their homes over the next six months are looking at alternatives to the traditional estate agent, research from Property Dating Agency shows.

The property market slowdown and house price falls – which has meant it takes on average 6.9 months to sell a property – is prompting sellers to look for other and cheaper ways to sell, the company believes.

Estate agents – either through offices or online – remain the favoured choice for 77.5% of people considering selling their homes, the research shows. But a growing number are turning to alternatives including private sales, selling directly to friends or family, selling direct over the internet and even putting up ‘for sale’ signs outside their own house. In total 19.4% of those considering selling are looking at alternative sales methods.

Stephen Foden, chief executive of Property Dating Agency, said: “The traumas of the property market in the past 18 months are making many people rethink how they sell their home. “When it takes on average nearly seven months to sell a house that is understandable and there are more cost-effective and efficient methods of selling houses now available.

“Estate agents will continue to dominate the property selling market and for most sellers and buyers they remain the best route to market. That however is starting to change.”


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