A generation ago, there was pretty much just one way to sell a property. You would speak to a local estate agent about how much your property was worth, put it on the market and wait for the estate agent to bring potential buyers knocking at your door. Fast forward to 2018 and advances in technology, along with increasingly hectic work schedules, now mean that many homeowners are looking for a sleeker, more 21st century way to sell their property. These are a few of the most popular options now available to homeowners.
Online estate agents
Disillusioned by the high commission rates charged by traditional high street estate agents, many homeowners are turning to online estate agents. With prices ranging from just a few hundred pounds to several thousand pounds, online estate agents tend to offer a sliding scale of services, depending on what level of support you require. If you are happy to conduct your own property viewings, you are likely to find online estate agents considerably cheaper than your high street alternative.Some homeowners who have used online estate agents have felt disappointed by a lack of personal contact, so it is definitely not for everyone, but a great option if you are trying to keep costs low.
Professional homebuyers are companies that buy your property for cash, in return for a quick, guaranteed house sale.Companies that offer a national home buying service, will pay below market value, but you are in complete control of the sale and there if no risk of the sale falling through, like it could on the open market. With no estate agent required, and a guaranteed sale, professional homebuyers offer a slick service that eliminates any potential home selling woes.
2017 saw the first UK property sale using bitcoin. The property, a four-bedroom detached home in Colchester, was sold to a ‘bitcoin miner’ software developer who has profited greatly from the crypto-currency. New build developers, especially of luxury homes in London, have reported an increasing demand to use crypto-currency in the purchasing of properties, particularly driven by interest from international investors, so we are likely to see more crypto-currency in the property market in the near future.
As the open property market deteriorates in parts of the UK, in the midst of Brexit uncertainty, many home owners are turning to property raffles as a way to shift homes that otherwise will not sell. It is a way to achieve market value (or sometimes more) without the hassles that are associated with a traditional property sale. For some, it is a last resort before a property is repossessed.