Sellers are holding back amid Brexit, according to experts. It appears homeowners are making the decision to hold on to their property amid financial uncertainty. However, there are still some Britons looking to sell a property.
Phil Spencer’s website MoveiQ has revealed the information you need to get from an agent before agreeing to sell with them.
It said: “For every agent that visits you, ask them to write to you afterward with details on the following:
- The price they suggest marketing your home for and the price they expect to achieve (these may not be the same!)
- Details of their fees and the costs associated with marketing your home
- Full contact details such as the minimum period you are granting them to sell your home
“This information will prove invaluable when it comes to making your decision.”
Should you use an online agent to sell your home?
Websites seem to offer cheaper listings than traditional estate agents. But, do you get what you pay for?
Sam Mitchell, CEO of online estate agent Housesimple, shared expert advice on online estate agents and how they might work for sellers.
He said: “Most online estate agents keep costs down by being able to handle the whole selling, buying, landlord and tenant processes from the comfort of one main office.
“With no premium priced, high street shop fronts, branded cars and other estate agent gimmicks, online estate agents can afford to keep overheads lower without sacrificing the quality of service.”
The latest Rightmove House Price Index suggests that the usual ‘Autumn Bounce’ – the spurt of activity usually seen in September and October as home movers aim to complete on their transactions in time for Christmas – has failed to materialise so far this year in many parts of the UK.
Unsurprisingly, the uncertainty surrounding Brexit is believed to be the main cause, with the overall number of potential sellers listing their property reduced by 13.5 per cent when compared to the same time last year.
Considering that there is a significant lack of property available to buy in many areas, asking prices are also suffering amid the ongoing political decision, with Rightmove reporting the lowest monthly rise in October since 2008.
As it stands, average asking prices increased by just 0.6 per cent over the last month, compared to an average rise of 1.6 per cent in the month of October over the last ten years.