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Vendors turn to agents in tough times

Catherine Deshayes

When the going gets tough, the tough get going...to estate agents. The number of vendors planning to use an agent for their next home sale rather than go it alone has doubled over the last year.

Whilst many sellers are keen to save the agents fees of around two to three per cent by attempting to sell their house on their own, the difficult economic climate has encouraged vendors back to estate agents.

According to a recent survey by home move website Moveme.com, 62 per cent of sellers had, or had at least considered, selling their property without using the services of an estate agent.

However, in a similar survey carried out last month, this figure had halved, with just 32 per cent still considering going it alone, preferring instead the added security, professional advice and marketing power provided by an estate agent.

Keith McNeilly, Co-Founder of Moveme.com, said, "In a difficult climate, where 150 estate agents are reported to be closing down every month, these findings offer some welcome news for those agents trying hard to remain optimistic.

"While a vast number of consumers have previously considered going it alone when selling their next home, the uncertainty of the current market has led the majority of those sellers to return to the more traditional route of using an agent.

"While selling your home direct can avoid the typical estate agents' two to three per cent fee, it's worth remembering that a good estate agent will play the pivotal role in securing your sale.

"They invest heavily in reaching as wide an audience as possible and can take on a lot of the hassles associated with viewings and liaising with potential buyers," Mr McNeilly went on to say.