What are the best ways to sell my house in 2024 UK
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Did you know that throughout 2023, the amount of house sales has fallen to its lowest level in a decade? And did you know that over 50% of open market house sales fail to sell within the first 10 months?
With figures like these, you’re probably wondering what the point in selling your house is, and we don’t blame you!
But, it doesn't have to be that way. In the UK, less than 5% of all house sales were via an online or hybrid estate agent, but more than one in three were via a cash buyer. Both of these options have grown in popularity over the last few years, with the online estate agents becoming the newest branch of house selling excellence.
In this article we will look at what the most common ways to sell a property are, and what the best way to sell your house are. Looking for something specific? Check our our interactive menu:
I want to sell my house, where do I start?
When selling your house there are a few steps you can do to ensure a smooth and efficient process. Regardless of what house sale method you choose, there are some key actions which can be applied across the board to minimise the risk of potential disruptions, delays or speed up the sale.
1. Work out your home value
The first thing you need to do is work out your home value. We would recommend using an online valuation tool like Rightmove or Zoopla for a general estimate of your house value. This can be used as a basic ballpark figure to go to estate agents with.
To further the accuracy of your house valuation, we also recommend seeking valuations from at least three different estate agents to establish a true to market value, which can be achieved by creating an average.
Once you have a competitive house valuation, you should be able to set the right asking price for your property. This could be applied for the open market, auction houses or to use as comparison for any Below market value offers.
Ensuring you have the correct house valuation will also mean that you should be able to get your property some true market value offers on the open market as it is not overpriced nor undervalued.
2. Get your home ready for sale
The second thing you need to do is get your home ready for sale. This can be done through undertaking a thorough decluttering to create a clean and appealing space, by removing personal items to allow potential buyers to envision the space as their own.
You could consider painting the walls with a fresh coat of paint to cover any noticeable wear and tear, and if necessary, you could rent a temporary storage space in order to hold any excess items. Hiring temporary storage may also make it easier when you are moving house as you will not need to move out on the day your keys are dropped off.
For the exterior of the property, we would recommend maintaining its appearance and carrying out any garden work, mowing the lawn and weeding any flower beds. The outside of your property is the first thing that potential buyers will see when they look at your property, and first impressions count!
Exploring the best way to sell your house? Consider staging it for maximum effect. There are staging companies out there that can come in and stage your house for sale if this is a route you want to take.
3. Decide how you want to sell your home
Later in this article we will cover the most common and the best ways to sell your home. Finding the best selling method for you, will depend on how much you want for the property, and how fast you need to sell it.
There are so many different options when it comes to selling your home, and we would recommend that you do your research on a company before choosing them.
You can carry out research on a company by looking at their TrustPilot and Google reviews, we would recommend checking their 4 star and 1 star reviews as these show both disgruntled customers and also the more honest reviews. If there aren’t any 4 star reviews, you should see this as a red flag and move on!
4. Decide when to put your home on the market
The best time to sell your house is in Spring, or late February to early June when the housing market is booming. During the autumn months, like September and October, buyers will be aiming to settle into their new properties in time for Christmas.
If you are selling your house on the open market then you should avoid selling your home in slower periods like Summer (July to August) when people are on holiday, or just before Christmas (November to December) as extended listing times can lead to buyer scepticism.
5. Prepare the documents you need to sell your home
When you sell your house, there are a few necessary documents you will need to have at the ready to provide to any potential buyers, including:
Energy Performance Certificate (EPC) to inform buyers about your home’s energy efficiency.
FENSA certificates for windows and doors.
Boiler Safety Certificate.
Gas Safety Certificate.
Electrical Installation Certificate.
Planning approval for any significant renovations.
Your solicitor or conveyancer should be able to guide you through additional paperwork related to the property and items included in the house sale.
What are the 3 most common methods of selling property?
In the historical context of the UK housing market, predating the computer age when people physically travelled to the high streets or relied on word of mouth to sell their houses, three house selling avenues existed.
These long-standing approaches, involving the use of an estate agent, undertaking a private house sale, or selling within a house auction, have historically held the status of being the best way to sell a house.
However, with the rise of the computer, these methods have witnessed a decline in effectivity, but yet continue to persist as the most common methods of selling property,
Historically in the housing market, before the age of the computer and the people went down the high street to sell their house, or through word of mouth there were three main ways to sell property.
Traditionally, the three most common methods of selling property are:
1. Estate agents
Using estate agents is one of the most common ways to sell a house in 2024 as estate agents bring professional expertise to the table, handling various aspects of the sale, including marketing, showings, negotiations and paperwork. However, this convenience comes with high commission fees and less control.
2. Private house sale
During a private house sale, the property owner takes on the direct responsibility of selling without the involvement of an estate agent, solicitor or other house selling company. And while it can lead to lower costs and offers greater control over the process, it does require the owner to manage the entire selling process, from marketing to negotiations.
3. House auctions
The fastest option of the three, house auctions involve selling the property to the highest bidder within a specific timeframe. Usually, house auctions can create a sense of urgency and are often only suitable for unique or distressed properties.
Is an estate agent the best way to sell your house in 2024?
In our opinion, estate agents are not the best way to sell your house in 2024. At the moment, houses are spending approximately 2 to 3 months on the open market, and the subsequent conveyancing process adds an additional 3 to 6 months to the overall house selling timeline.
The combined time frame of 9 months, which is the best part of a year can be specifically daunting for anyone.
What are the advantages of estate agents?
Professional guidance
Using a local estate agent allows you to have access to a great wealth of information and expertise throughout the selling process. Good estate agents can help you through the negotiations, any paperwork and should be able to get you around chain hurdles with ease.
Market exposure
Estate agents, especially high street agencies will have a wealth of local connections and be able to leverage their networks, marketing tools and listing services to expose your home to a broader audience than a private house sale. The increased market exposure will attract a larger tool of motivated buyers and enhance the chances of a sale.
What are the disadvantages of estate agents?
Cost
One of the biggest disadvantages of estate agents is that their associated fees and costs are high. Estate agents run on a commission based sale price, which can impact the overall profit from a sale. On average, estate agents in the UK will charge around 1% - 3% +VAT of the house sale price in commission.
Lack of control
By giving the sale of your property to an estate agent you will be giving over control of the house sale, and decisions related to marketing, negotiations and timing are made in house and you won’t have much say as the vendor.
Is a private house sale the best way to sell your house in 2024?
Selling your house without an estate agent can be a good way to save costs and sell away from the hustle and bustle of the property platforms.
However, without prior housing market expertise, you could actually be increasing your bills and as we all know; time is money. Which is why private house sales are not the best way to sell your house in 2024.
What are the advantages of private house sales?
Cost savings
The most attractive advantage of selling your house as a private house sale is that you will save money on estate agent commissions, fees and hidden costs.
Control
When you sell your house via a private house sale, you will be in complete control of the property and will be able to accept or reject offers based on the buyer rather than their price.
This can be a great opportunity to pass the house onto someone else that you feel fits the house, which can be advantageous for people emotionally connected to the property.
What are the disadvantages of private house sales?
Time and effort
Although you are saving on immediate costs on commissions and costs, you will lose time and effort. The process of selling your property via a private house sale is extremely time consuming – we mean it is someone's full time job, and that takes months!
When you first start advertising your property, you will need to ensure that your house valuation matches up with similar properties. This can be hard to judge if you do not have a housing market background as you will need to look at current market data, your local area and exclude any bias you may have for the property.
Limited exposure
Unless you have worked as an estate agent prior to selling your property, you won’t have the housing selling expertise that agencies have. This can be disastrous if you don’t have local buyers ready to purchase the house.
As a private house seller, you will be unable to add your property to a property portal like Rightmove or Zoopla and will have to utilise local platforms like Facebook Marketplace, GumTree and word of mouth.
House viewings
One of the largest disadvantages to private house sales is that you will need to conduct viewings, with potential buyers expecting to view the property multiple times before deciding on whether the property is for them.
In order to conduct house viewings you will need a very flexible schedule to meet the expectations of most modern buyers. The less flexible you are, the less buyers you will have around your property.
Is a house auction the best way to sell your house in 2024?
House auctions have been historically recognised as effective for selling distressed or unique properties. In our opinion, house auctions are not the best way to sell your house in 2024.
But, their ability to attract a diverse audience, including investors and individuals seeking unique opportunities, has made them a go-to option for many homeowners in need of a quick sale.
What are the advantages of house auctions?
Urgency
House auctions create a sense of urgency in the selling process with the fixed timeframe of an auction compelling potential buyers to act on their feet, leading to a faster sale compared to selling on the open market.
Market driven price
House auctions often result in a market-driven price, as the bidding process involves competitive interactions amongst a pool of buyers. The very nature of a house auction can ensure that the final sale price is reflective of the property’s perceived value in the current market.
What are the disadvantages of house auctions
Uncertain outcome
House auctions are very risky as there is a lack of guaranteed outcome. Unlike selling privately or with an estate agent, where the agreed-upon offer acts as an informal agreement, auctions introduce a level of uncertainty all the way until the gavel falls. There is no assurance that the property will sell, and even if it does, the selling price may vary.
Listing challenges
Recent data from the Essential Information Group in 2023 suggests that over 2,000 properties had been listed multiple times at auction, often due to not selling in the initial round. This suggests that the auction route may not be suitable for all properties, and you need to set the correct guide price.
What are the best ways to sell your house in 2024?
Long gone are the days of your house sitting on the open market weeks, or months without an offer. Nowadays there are so many different routes to sell a house quickly, and it will all depend on what your situation is.
Most house selling options will give you different perks, but they also have their downfalls, for example, using a cash buyer like us - we can offer you a sell house fast service but we will purchase below market value. Online estate agents can offer you full market value but for a high commission or longer wait times.
What the best way to sell your house in 2024 will depend on if you are looking for higher profit, or faster sale, so let’s explore that.
What is the most profitable way to sell my house?
The most profitable way to sell your house in 2024 is to use an online estate agency, who can offer you quicker than traditional agency times and help you sell at full market value. There are many different online estate agents out there, offering all levels of different fees and costs.
Luckily, one of our sister branches, The Property Selling Company can sell your house in as little as 28 days, and all for free! They will cover all the fees and costs usually associated with selling a property including your solicitor and legal fees, all while ensuring that you get full market value for your property.
What is the most efficient way to sell a house?
The most efficient way to sell a house is via a cash house buyer like us! Cash buying companies are relatively known to the housing market, but there are quite a few! They can buy your property in as little as seven days, for cash, and then offer a speedy conveyancing period.
For us, buying a house is as easy as waking up in the morning. We are one of the UK’s leading cash buying companies and have helped thousands of people sell houses over the last 11 years.
We can buy your house in as little as seven days, for cash, and just like our estate agency branch, will cover all your fees associated with the house sale - including solicitor fees.
Best way to sell your house FAQs
What is the best way to sell my house quickly?
The best way to sell your house quickly is to make sure you have all your documents in order, your solicitors at the ready and you accept an offer from a cash buyer. Cash buyers are not reliant on mortgage approval and so can purchase your property as soon as you are ready.
Is hiring an estate agent the best way to sell my house in 2024?
Unless you opt for an online estate agent, hiring a local estate agent is not the best way to sell your house in 2024. This is because the waiting times are 9 months+, and house prices are falling. If you want to sell your house fast and for full market value, contact one of our team who can pass you onto our estate agency branch.
Alternatively, we can buy your house for cash in as little as seven days.
Are home renovations necessary before selling my house?
If you are selling your property to us, home renovations are not necessary to sell your house. For distressed property owners, it can often be the best way to sell a house, because we will buy the property outright, albeit for below market value.
How long does it take to sell my house?
On the open market, your house might not sell for over 6 months, but with us, we can buy your property in as little as seven days.
How can I attract the right buyer for my property?
If you want to attract the right buyer for your property, you may want to consider what kind of buyer will want your property.
If you own a semi-detached family property, you may want to sell your house with an estate agent or online estate agency, but if you are looking to sell a tenanted property then you may want to sell through a cash buyer like us.
This isn’t to say we won’t buy the family property, because of course we will! But there are plenty of options available for you.
Can I sell my house cheaper than it's worth?
Selling your house cheaper than it’s worth is known as selling Below Market Value, and although you are taking a hit on the selling price, it can be advantageous for some property types and sellers.
Here are some reasons why you might sell your home cheaper than it's worth:
Faster transactions
Selling your house for cash, will usually allow you to exchange and complete far faster than traditional house sales that involve mortgage financing. If as the seller you need to relocate, or are at risk of repossession then a cash buyer can provide an extremely fast option to sell,
Distressed properties
If you have a property that is distressed or in need of a renovation, then selling to a cash buyer may be your best option. Most cash buying companies will purchase your property with their own cash funds, or facilitate a sale with an investor looking to flip properties. Both options will allow you to sell your property to motivated buyers.
Probate or inherited properties
If you have inherited a property, then selling to a cash buyer can offer a quick and hassle-free transaction at the end of a long probate process. Cash buyers can often simplify the process and offer a straightforward solution.
Where should I sell my house?
Arguably slightly biassed, but if you are looking for a fast guaranteed house sale, we would recommend that the best way to sell your house is to sell your house to us. We are the UK’s most rated cash buyer with thousands of excellent reviews.
Unfortunately, we can't offer you 100% market value for your home, but we can help you sell your house in as little as seven days for cash, although most people decide to go slightly slower. We can take away all the hassle of selling your home, and bring you a simplified process.
When you sell your home with The Property Buying Company, you should know that you are in good hands. We are remembered by the National Association of Property Buyers and The Property Ombudsman, which means we will always put you first throughout the entire house selling journey.
We won’t just help you sell your house, if you are interested in buying and selling, we can help you with onward purchases. We have many arms to our business and can facilitate all your wants and needs.
If you are ready to sell your house fast and without the hassle of selling to a private buyer or an estate agent, get in touch with one of our team today for a free, no-obligation CASH offer, which we could have in your bank in as little as seven days.
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