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The options of Home Sellers Are Increasing To Their Benefit
By: Brazg Gavin

We all know that these days, there is a lot of properties for sale being heavily marketed online. Several of these properties are advertised on real estate agent's sites but there is a fast growing number of websites that permit sellers to directly sell their property without the need of a middle-man.Moreover, you can find nowadays a new kind of estate agents- the online agents who charge an one-off fee to sellers to advertise their property plus giving them additional service such as negotiations and viewings.

All this is wonderful for sellers, because it gives them more choice and better value for money -- it can also improve their prospects of getting a good price for their home.

The Office for Fair Trading has just carried out a massive study into home-selling in the UK, and 32% of those surveyed said that they thought the fees they paid to their estate agent represented slightly or very poor value for money. OFT, because of the result of the study, advised sellers to search for more lower fees for real estate agents and look for better prices.

The central result to the OFT study was that the market needs to be opened up more to make it easier for new business models. An instance recommended was to make sure that websites who merely facilitates the meeting of potential buyers and the private sellers will not be following needless legislations.

John Fingleton, OFT Chief Executive, 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 banned 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. The National Association of Estate Agents which unites estate agents of the industry and can be utilized to put pressure to portals such as Rightmove.

The good thing is that choices are now available. House sellers can do their own research into their local market and sell their house for a fair price - free of agents commission if they so choose. 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. Choice is a good thing for consumers in any industry, home selling is no different.

Let us wait for the OFT findings to be acted upon and hope that UK property selling will have even more choices and that it will be very different five years from today.

Article Source: http://www.changagorham.com/articles

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 cut property solicitors fees Gavin Brazg is editor of www.TheAdvisory.co.uk - UK's largest free resource of free expert advice for property sellers.

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