The acronym FSBO stands for FOR SALE BY OWNER

 

 

 

 

How do I sell privately?

How do I advertise my house for sale privately?

In the old days you would find it hard to compete with the agents in advertising your house for sale. They had the high-street window display, the ‘for sale’ boards and the newspaper ads. Nowadays things are a lot better for the private seller because of the Internet. A recent survey found over 150 private sales websites which give you nationwide (International even!) exposure and there are sites that gather this information together. Typically these Private Sale websites allow you to upload a description of the property, photographs and other information just like the Estate Agents do. Most sites allow you to upload 2-5 photos but some allow lots more and even videos! Many have special features such as 360-degree photography, maps and other things useful to potential buyers. They can also contain links to other services associated with a house-purchase or a move (Local solicitors, removals and packing companies , decorators or odd-job men etc.)

Some of these sites offer a flat fee but others offer different levels of service for enhanced fees.

Recently local newspapers have aggregated their private listings into a (large) website.

In turn, many of these sites upload some or all of their listings (adverts) to a Portal (A site gathering listings from groups of sites for greater impact). This can be a general Portal where your property has to compete with the big Agents adverts or a Portal dedicated to Private Property Sales. A good Portal will always strive to use ay means necessary to develop a high profile on the search engines such as Google on behalf of their sellers.

Once buyers are interested in your home they will be able to make contact with the seller through a link to the property description on your chosen site. They will then be able to get in contact with the seller through a variety of different methods depending on the sellers privacy or other requirements (mobile, email, 070 personal number or perhaps just allowing the buyer to register an interest so that the seller can contact them).

The seller then goes through the rest of the selling process directly with the buyer.

Where can I find a list of suitable sites?

The Private Sales Portal propertiesdirect.co.uk has a list of trustworthy sites and is a good starting point in your search.

But what about the ‘For Sale’ board?

‘For Sale’ boards are not the preserve of Estate Agents! Most Private Sales website will offer a ‘For Sale’ board as part of the service or will have dowloadable designs that you can make up yourself. The signs are often made of the same durable materials as used by agents and can even be erected by national sign-erecting services (The same ones the agents use!) Checkout your chosen private sales site to see what they offer and how much it will cost. A ‘For Sale’ sign is always a good idea since different estimates place the level of sales arising from seeing a ‘For sale’ sign on a house they know/like at between 25% and 35%. The ‘For Sale’ sign will usually refer to a ‘reference number’ on the website so that the prospective buyer can look up the details (and price) before contacting the seller

‘For Sale’ board regulations

Private Sellers need to be aware that there are general restrictions and regulations on the display of a ‘For Sale’ board. A good outline of these is available at:

http://www.worthing.gov.uk/Planning/PlanningGuides/EstateAgentsBoards/

Although this guide refers throughout to agents, the same rules apply to Private Sellers. The actual regulations clearly do not distinguish between agents and private seller’s rights to erect a ‘For Sale’ board although some agents often claim otherwise.

You will see from this document that, in general, no specific planning consent is required to display a ‘For Sale’ board as this is considered to have ‘deemed consent’ but you should be aware that this may not apply if the area or building is subject to special regulations because of architectural or listed status. It is your responsibility to check into what regulations, restrictions or covenants apply to the display of your board.

The actual wording from the Town and Country Planning (Control of Advertisements) Regulations 1992 is in the form of an exemption from general regulation of advertisement and states:

“Classes of Advertisement which may be displayed with Deemed Consent

……….

Class 3

(8)No part of the advertisement may be higher above ground level than 4.6 metres, or 3.6 metres in an area of special control or, in the case of a sale or letting of part only of a building, the lowest level of that part of the building on which display is reasonably practicable.

The main regulation governs the size of board allowed and should be strictly adhered to if making your own sign. Although you can download ‘For Sale’ sign designs from the Internet, a far better idea would be to use a Private Property Sale site or other site offering ready-made boards. Most Private Sales Sites offer this facility. The other reason for considering a purchased board is that they can be obtained in the same durable materials used by the Agents. You don’t want your board fluttering free after the first high wind or slumping to the ground after the first rain. They will also comply with the sizing regulations.

The second main point is the location of the sign. These regulations are very strictly enforced by the authorities so you need to know what is allowed by your local authority in addition to the general rules in the linked document. There are rules regulating the height at which a sign may be displayed and you will notice that this particular Authority has different regulations (lower limits) within a certain urban area.

Another regularly enforced regulation is that the board can only be displayed on the property to which the board refers. In principle this means that if the property is a top-floor flat, the board can only be attached to the flat even if it on the 10th floor! The local council that produced these outline rules takes this to prohibit the (common) practice of multiple signs in or on the common-use area of the block of flats such as the front garden or access lane even though the regulations state that the board may be “on the flat” that is for sale or to let, or in “any part of the grounds that are enjoyed by that flat”. Positioning the board on a nearby verge can be considered by the LA to be a traffic hazard in addition to the breach caused by not being affixed to the property for sale. You need to know you Local Authority’s views on this. Some are draconian, others are more relaxed or realistic.

One way of avoiding the problems completely is to look for a Private Sales Site that offers a fixing service. This means that the signs are supplied by the website but the erection is carried out by a local fixing service aware of the regulations (and attitudes) of the Local Authority and also planning or other local restrictions.

In particular note that clause: “advertisement shall be removed within 14 days after the sale is completed or a tenancy is granted” The permission to erect a sign is temporary and the sign MUST be taken down after the period allowed.

How do I find out how to price my house?

A good Estate Agent will use local knowledge and a knowledge of recent sales of similar properties to reach a price and this was one of the main reasons for using an agent as long as they weren’t pricing high to get the instruction or pricing too low for an ultra-quick sale (and a quick commission). This changed with the Land Registry decision to register and publicise the prices paid for homes in England and Wales. This public-domain information has been acquired by websites that produce reports of all recently sold properties in your area. This means you can find out exactly how much was paid for other houses in your area and you have as much local knowledge as agents do. In estates or areas of similar houses reasonable selling prices are very easily estimated from recent sales. Differences only arise where extensions or other improvements have been made to the property or where there are location/aspect differences to be taken into account. These might be factors such as ‘backs onto open land’, ‘Nearer shops’, ‘Nicer Street’ etc but these are all things you well know and probably took into account when you bought the house. You know what makes your house better than the neighbors or that you wish your house had. By comparing your house to similar houses that have been sold in your area, you will soon be able to work out the value of your home. It is interesting that you are only doing what the professionals do! When chartered surveyors are used by mortgage companies to value properties for mortgage offers, their first action tends to be calling around all the local agents to get, so called, ‘comparables’ and get an idea of the price before viewing the house and checking for factors which will add or detract from its value.

The other thing to do of course is to note similar houses on sale in the area (from ‘for sale’ signs or the local papers) and to visit the Estate Agents offering these to get the house particulars and prices. In the vast majority of cases valuing your home is easy. Most homeowners know their own local market and this knowledge comes from looking in local papers, estate agents windows and on the internet. One big advantage that you have over the professionals is that you know what the differentials were when you bought the property!

How do I describe the house and make room measurements?

Be Honest! Don't exaggerate! One ongoing criticism of Estate Agents is overblown language and exaggeration. Don't be lured intothe same trap! Buyers prefer a simple no-nonsense description to visualise the rooms. If you are stuck for a general description just look in your local papers for ideas but DON’T copy ‘Estate-ese’. Words or phrases like “well presented’ or ‘magnificently well-proportioned’ etc. don’t sit well in a private sale advert. Just describe each room/feature in simple terms and be accurate with the dimensions. Most buyers will make snap decisions about whether the house goes on a viewing list based on the dimensions of the rooms so don’t exaggerate here either. It ruins credibility for any future relationship if you try to gild the lily. Remember it is against the law for an estate agent to make false or misleading statements in the property particulars and you should follow the same rules. Use either feet and inches or metres for your measurements but preferably both since you don’t know which the potential buyer will be happier with.

To help you here is a small list of things which you should include if you have them and are very easily overlooked:

Also, it is worthwhile including a brief description of the local area,
including points such as:

This list is by no means exhaustive, but will give you an idea of what to include rather than just saying meaningless things like "magnificent house with unlimited potential" etc.

Don't forget to say which way the property faces! For some keen gardeners this is a critical point and in any case most people will want to know if they are going to get sunshine in their kitchen/lounge etc.

All you need for the measurements is a tape measure but if you feel the investment is worthwhile, most DIY shops now sell cheap laser measurers (just like the ones Estate agents use for speed). When you are measuring, always take the maximum dimensions of each room (eg into bay windows) but remember to put this fact in the descriptions (e.g. ‘18ft into bay’) and to include all features such as porches, utility rooms, large storage areas and external features such as sheds or outside tap or electricity supply. Don’t forget the attic/loft! Most houses have regularly-shaped rooms, so it is just a matter of measuring the width and length. If a room is irregular you should show a dimension as ‘maximum’ so that a buyer will know that the room is not rectangular/square.

Can I display photographs like in the Estate Agents window?

Most Private Sales Sites accept photos and the maximum allowable number varies according to the website and your relationship with them. Some sites now offer the facility to upload videos but if you use this facility remember to treat the ‘shoot’ as a viewing. You should tidy away keys, valuables and expensive items. You should also note the tips on presentation and ‘house doctoring’ elsewhere on this website to maximise the opportunity. In all cases you should ensure the rooms are tidy and improvements are carried out BEFORE you take photos!

Can I display plans of my house?

Many Private Sales can accept and display plans of your house (and surroundings). You will need to check with your Private Sale website what they can accept (and display). Plan-drawing software is readily available on the Internet and this is a very good way of displaying the attributes of your house and also to describe irregular rooms. Suitable software (some of it free!) is reviewed on The About.com website but this is not a comprehensive list. Other software can be fund with a simple search. The FREEWARE site lists many others but we can give no assurances of the suitability of these programs. You will need to discover this for yourselves. These plan-drawing programss will allow you to generate professional-looking plans if you are reasonably computer literate (and have previously carried out all the measurements of course!)

How do interested Buyers get in touch with sellers?

This all depends on the website you have chosen. Some can allocate 070 personal numbers for the duration of the sale process. These allow phone calls to follow the seller around but never reveal the number actually being called. Some sites allow complete anonymity if you prefer and can set up a system where the Seller contacts the Buyer via a call-back or return email. Some sites have systems like eBay where the early contacts are always through the website for security. The decision to release direct contact methods is therefore in the mutual hands of the Buyer and Seller. In general we would advise NOT to put personal email addresses or telephone numbers either in adverts or on ‘for sale’ signs to avoid spam, scams or nuisance calls.

How do I organise a viewing?

It’s even easier than using an agent! Since you don’t have to co-ordinate the diaries of three parties you just need to find a time suitable for both parties. With no Estate agent to intrude, personal viewings are generally less fraught without a third person (and their opinions) getting in the way. You should always have others present for safety but this is just common-sense advice. Far from every Estate Agents-organised viewing is accompanied anyway especially in the evenings or at weekends. It is common-sense to put any valuable items, such as wallets, jewellry and credit cards out of sight and to also refrain from exposing hiding places for keys or give away too much information about security systems (apart from singing their praise of course!)

A new ID Verification service has been developed for Classified Sales Websites to improve the level of trust and this verification of identity is far in advance of any checks that an Estate Agent might carry out. The cost to become a ‘verified’ buyer is just a few pounds and there is a trend for buyers/sellers to only wish to deal with other ‘verified’ persons. You can find further information about this service at www.netcred.co.uk.

Do I need help with presentation?

As many daytime television programs are keen to point out, a well-presented property will always sell faster than a poorly-presented one. Many commercial House Doctoring organisations have sprung up on the back of this but it really isn’t rocket science! Everything is common sense and the objective is to focus the buyer on the property and not your lifestyle and habits!

Musts:

Make the best first impression you can by making the entrance as tidy as possible. If you do nothing else make sure your front door is freshly painted, smart and inviting. Buyers can make a negative decision before you even open the door! And..

If you have enough time you may want to consider some of the favourite House Doctor tricks:

If you really have the time and inclination, there is a section about 'house doctoring' later in these notes.

What else do I need to prepare for viewing?

It is always a good idea to prepare a pack with any information you did not have space for on the advert. Just list anything you think the buyer might need to know about – local schools, supermarkets, local shops, transport, gyms etc. Since you are in direct contact with the buyer you can find out about their personal details. Do they have a family and if so what ages? This will help you decide what information is most relevant to the buyer.
If you have had a survey done it could also be a part of the pack so that you can point out any favourable bits and you can just show it to them if you don’t want to hand over a copy at this stage.

You should also prepare a list of everything that goes with the sale and you did not have space to list on the advert. This should include items such as shelves, cupboards, floor coverings etc. It should particularly list any special electrical fittings such as chrome plug sockets, dimmer switches, domestic appliances, wall units, curtain rails etc. Although this is all done formally by the solicitor during the conveyancing it helps psychologically if you present this upfront. It also eliminates many uneccessary questions and allows the buyer to concentrate on the property.