Frequently Asked Questions
Can I Sell My Property On OwnerHome, If I'm Already With An Estate Agent?
Absolutely! The most common contract used by estate agent's is a Sole Agency Contract.
OwnerHome are NOT estate agents, so therefore our marketing services do not conflict with a Sole Agency Contract. You will not have to stop using your estate agency services if you use ours to market your property. The good news is that you will however, save the agent's commission charges if you find a buyer using OwnerHome!
This is because under a Sole Agency Contract, the agent can only charge commission if they introduce the buyer to you, they CANNOT claim commission if the sale goes to a private buyer they did not introduce. There are agents out there who use what's called a 'Sole Selling Contract', which means no matter who sells your property your Estate Agent gets the commission!! These contracts are not as common, fortunately.
The Office Of Fair Trading states that;
Sole Agency- The Estate Agency you appoint is the only agent with the right to sell your property. As you are not an agent, by advertising on OwnerHome you are marketing the property yourself online and do not have to pay the commission fee's if YOU find a buyer
For any advice on estate agent practices or selling a home online see Which Magazine online which covers all questions and gives invaluable advice.
Which ever contract you are signed up to, the end result is the same.
Always inform your estate agency that you intend to sell your property online yourself using an Online marketing company. . . .It's amazing how quick they will perform and do there utmost to sell your home, when their commission is at stake!
The vast Majority of Estate Agents charge between 1% and 2% Commission on all property sales in the U.K. In Europe this can be as high as 6% plus VAT.
How Do I Value My Property?
OwnerHome can provide a unique link to an Online Valuation website called NETHOUSEPRICES.COM.
This site is completely free and used by estate agents, allowing you to see what properties have sold for in your area recently, even next door to you!
This gives you a good idea of what your property is worth in the current market. Many estate agents over value your property, hoping you will use their services. After several months without interest, you are advised to reduce your price. You will have also signed a contract, therefore you are unable to use another agent.
Please click here for NetHousePrices.com.
Alternatively you could have a valuation carried out by local estate agents.
HIPS, (Home Information Packs) Do I Need One?
As of the 10th September 2007, if your property has 3 bedrooms or more then you will need a Hips in place before you can start marketing your property with OwnerHome.
You do not need one though, if you're property was on the market, with an agent before the 10th September 2007, this is defered until 01 January 2008, as long as your property is continually marketed.
From 14th December 2007, Properties with 1 and 2 bedrooms will require a HIP before they are advertised on the market. Please see our HIPs page for more details.