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Capital Gains Tax Calculator On Sale Of Property 2024

man searching for his Capital Gains Tax

Capital Gains Tax calculator on sale of property 2024

How to calculate Capital Gains Tax when you sell a property

Sell your second property quickly

WRITTEN BY: Tom condon ★ Digital Content Writer

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Capital Gains Tax calculator on sale of property 2024

How to calculate Capital Gains Tax when you sell a property

Sell your second property quickly

WRITTEN BY: Tom Condon ★ Digital Content Writer

arrow

Table of Contents

Your capital gain is usually the difference between the purchase price of your property and the amount you received when you sold or disposed of it. This gain represents the profit you made from the increase in the property’s value. 

 

If the sum of all your capital gains for the year exceeds the annual tax-free allowance, you are required to report these gains to HM Revenue and Customers (HMRC) and pay the applicable Capital Gains Tax.

 

The annual allowance helps mitigate the tax burden, but any gains above this threshold will be subject to taxation according to your income tax bracket. Property calculating and reporting your capital gains ensures compliance with tax regulations and helps avoid potential penalties.

Key takeaways:

 

  • Avoidance: Utilising the annual Capital Gains Tax allowance and Private Residence Relief can significantly reduce or eliminate your liability when selling a property.
  • Strategy: Accurate record-keeping and strategic planning, such as timing the sale and considering joint ownership are important for optimising your tax position and compliance.
  • Best advice: The Property Selling Company offers tailored advice and covers usual selling fees, helping to minimise overall costs and effectively manage your CGT obligations.

What is Capital Gains Tax?

Capital Gains Tax (CGT) is the tax you pay when you gift or sell an asset. If you sell a property for more than you paid, you may be subject to CGT on the capital gains. The current CGT rate for individuals in the UK is 18% for basic rate taxpayers and 28% for higher and additional rate taxpayers.

 

However, the annual tax-free allowance, also known as the annual exempt amount, allows you to generate up to £3,000 of capital gains tax-free each year. 

 

If you are a UK citizen and sell a property that’s your main residence, you may be able to qualify for Private Residence Relief (PRR), which can reduce or eliminate the Capital Gains Tax owed. PRR is not available for estates used exclusively for business or rental properties. 

 

If you sell a property that is not your primary residence, you must CGT on any capital gains made. You can reduce the tax owed by claiming certain expenses and allowances, such as costs associated with buying or selling the property or improvements made. 

 

You can also defer the patent of Capital Gains Tax by reinvesting the proceeds from property sales into another qualifying asset. 

 

We would always recommend that you keep accurate records of the purchase and sale of your property and any expenses incurred to calculate the capital gain and any applicable taxes owed accurately.

Use our Capital Gains Tax Calculator

Here at The Property Selling Company, we understand that every property sale is unique, which is why we tailor our property selling process to you. We provide clear and honest communication throughout the selling process, ensuring you are fully informed at every stage. 

 

Whether you’re selling a primary residence, a Buy To Let property, or a second home, we can provide customised advice and support to maximise your benefits and minimise your tax liabilities. 

How do you calculate Capital Gains Tax on property?

Calculating Capital Gains Tax (CGT) on the sale of a property involves several steps. Here’s a straightforward guide to help you understand the process:

The first thing you need to do is calculate the profit made on the sale, which can be done by:

 

Gain = Property Sale Price – Property Purchase Price.

 

Example:

  • Property sale price: £40,000
  • Property purchase price: £20,000
  • Gain: £40,000 – £20,000 = £20,000

Each individual has an annual exempt amount for Capital Gains Tax. For the tax year 2024/25, this amount is £3,000. 

 

Taxable Gain = Gain – Annual Exempt Amount

 

Example:

  • Gain: £20,000
  • Annual exempt amount: £3,000
  • Taxable gain: £20,000 – £3,000 = £17,000

Your Capital Gains Tax rate depends on your total income for the year. You need to determine whether you fall into the basic rate or higher rate band.

 

Income tax bands for 2023/24

 

  • Personal allowance: £12,750 (no tax)
  • Basic rate (20%): £12,571 to £50,270
  • Higher rate (40%): £50,271 to £125,140
  • Additional rate (45%): Over £125,140

 

Example

  • Total earnings: £30,000
  • Taxable income after personal allowance: £30,000 – £12,570 = £17,430 (within the basic rate band).

The rates for Capital Gains Tax on property are:

 

  • Basic rate: 18%
  • Higher rate: 28%

 

Since the income falls within the basic rate band, you apply the basic rate.

 

CGT Payable = Taxable Gain X Applicable Rate

 

Example: 

 

  • Taxable gain: £17,000
  • Applicable rate: 18%
  • CGT payable: £17,000 x 18% = £3,060.

If you have yet to sell your second property, you may want to consider choosing the right estate agent for you. Here at The Property Selling Company, we will cover all the usual house selling fees like estate agent and legal fees, which can significantly reduce your overall costs. 

 

By minimising these expenses, you can offset the amount of Capital Gains Tax you need to pay, effectively equalising the cost of selling a house through online or traditional estate agents.

 

Not only this, but our team has over a century of combined experience in the housing market, and their expertise ensures that your property is marketed effectively and sold at a competitive price. Our knowledgeable team can also provide guidance on claiming expenses and reliefs, such as Private Residence Relief, to reduce your CGT liability.

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Who pays Capital Gains Tax?

Capital Gains Tax applies to anyone who sells a second home or Buy To Let property in the UK and makes a profit from the sale. Here are some key scenarios in which CGT is applicable:

If you sell a second home or a Buy To Let property and make a profit, you are required to pay Capital Gains Tax. This tax is calculated on the capital gain, which is the difference between the sale price and the purchase price, minus allowable expense.

After someone dies, their estate – which includes money, possessions and property, is managed by an executor named in their will. The executor is legally responsible for managing the estate, which includes paying any taxes owed, such as Capital Gains Tax. If the deceased had made any capital gains, the executor must ensure that CGT is paid from the estate.

If you are a joint owner of a property and you sell it, your Capital Gains Tax liability will be split according to your ownership share. For example:

 

  • If ownership is split 50/50, each owner pays Capital Gains Tax on 50% of the gain. 
  • If ownership is split 30/70, the respective owners will pay Capital Gains Tax on 30% and 70% of the gain.

 

For CGT purposes, each joint owner is taxed on their share of the gain. Any available reliefs or exemptions, such as Principal Private Residence Relief, are applied on an individual basis and not to the property as a whole.

For total support, the Full house package costs £1499, including everything above, and everything below:

 

  • Hosted viewings package: Normally a basic estate agent service, professional viewings managed by Purplebricks.
  • Expert mortgage advice: Worth £299, included within the package.

If you are looking to sell your property quickly, The Property Selling Company can help. We specialise in fast house transactions, often completing in as little as 28 days, all while helping you to achieve full market value. 

 

This fast turnaround can be particularly advantageous if you’re looking to reinvest your proceeds into another qualifying asset to defer CGT.

What is the formula for the annual Capital Gains rate?

Capital Gains Tax Owed = Taxable Gain x Applicable Tax Rate

For example, selling a house for £300,000 with a purchase price of £200,000 and £10,000 in allowable expenses results in a capital gain of £90,000. After dedicating the £6,000 annual exempt amount, the taxable gain is £84,000. 

 

If the taxpayer is a higher rate taxpayer, the Capital Gains Tax owed at 28% would be £23,250. 

How do you calculate return on Capital Gains?

Calculating the Return On Capital Gains (ROCG) involves determining the percentage increase in the value of an investment relative to the initial investment cost:

Return on Capital Gains = (Capital Gain / Initial Investment) x 100

The Capital Gain is the difference between the sale price and the initial purchase price of the investment, after accounting for any allowable expenses. The Initial investment is the original amount paid for the investment. 

 

The Property Selling Company has extensive experience in property transactions and tax implications. They can provide expert advice on how to calculate your Capital Gains Tax accurately, ensuring you consider all allowable expenses and exemptions. This expertise can help you maximise your tax savings.

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When do I have to pay CGT?

You will not receive a bill for Capital Gains Tax; instead you must determine if your total gains exceed your tax-free allowance. If your total taxable gains are above this allowance, you are required to report and pay Capital Gains Tax. 

 

If you sold a residential property in the UK with a completion date on or after 27th October 2021, you must report and pay your Capital Gains Tax within 60 days.

Do you have to pay Capital Gains Tax on sale of property?

If you own a second home or a Buy To Let property that has increased in value since you bought it, you will need to pay Capital Gains Tax. Generally, you do not have to pay Capital Gains Tax on your primary residence due to Private Residence Relief.

 

However, there are certain situations where you may need to pay CGT on your primary residence, including:

 

  • If your home, including open land, exceeds 5,000 square metres.
  • If the property has been sub-let (not including lodgers).
  • If the property is used exclusively as a business premise.
  • If you purchased the property with the intention of making a capital gain.

 

These situations can often be complex and open to interpretation. For further assistance, please contact our team or consult a financial advisor who can provide expert advice.

How to reduce Capital Gains Tax?

Capital Gains Tax on property is charged on the capital gains rather than the sale price. There are several strategies to reduce your Capital Gains Tax bill, but we highly recommend consulting a financial advisor to guide you through the process.

Deducting costs

When calculating your Capital Gains bill, you can deduct certain costs, including:

  • Estate agent fees: the costs associated with hiring a traditional or online estate agent to sell your property.
  • Selling costs: Any additional expenses incurred during the selling process, like marketing or advertising fees.
  • Stamp Duty: The Stamp Duty paid when purchasing an onward property.
  • Conveyancing fees: Legal fees associated with the property transaction.

You can also deduct costs for improving the property, such as renovations or major upgrades (like a new bathroom or kitchen). However, you cannot deduct costs related to the property’s upkeep like interest on a loan used to buy the property.

Offsetting losses

You can offset losses incurred from selling other assets. For instance, if you sell one property at a loss of £25,000, you can use that loss to offset gains from selling another property, thereby reducing your overall CGT bill.

Joint ownership

Consider joint ownership with your spouse or civil partner. Each individual has a CGT allowance, so sharing ownership can effectively double your allowance. If your spouse is in a lower tax bracket, transferring all or part of the property into their name can also reduce your CGT bill.

Timing

If you have used some or all of your Capital Gains Allowance for the current year, consider delaying the sale of your home until the next tax year, as the allowance does not carry over. This strategy can help you maximise your tax-free gains. However, please seek the advice from a financial adviser, as you could be liable for penalties.

Main property nomination

If you own multiple properties, you can nominate one as your main residence to reduce or eliminate the Capital Gains Tax on that property. The main residence usually benefits from Private Residence Relief, which can significantly lower your CGT liability.

Letting Relief

If you have lived in the property while letting it out to tenants, you may be eligible for Letting Relief. This relief can further reduce your Capital Gains Tax bill, making it beneficial if you have rented out your home.

The Property Selling Company can help identify and document your deductible expenses, ensuring you maximise your allowable deductions. Our team can also assist with strategic planning, such as timing the sale of your home and exploring joint ownership options to minimise your Capital Gains Tax liability.

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How do I avoid Capital Gains Tax on a second property?

When you sell a second home or Buy To Let property, you’ll be subject to Capital Gains Tax. 

Every UK resident has an annual Capital Gains Tax allowance £12,300 for the current tax year). If the gain on your second home is below this threshold, no tax is due.

 

This also means that if you have a joint ownership, that your Annual Allowance is also combined, effectively doubling it to £24,600.

 

If you own two or more properties, you can nominate the more valuable property as your primary residence to avoid paying Capital Gains Tax on that property. 

 

This allows you to benefit from PRR, which may eliminate CGT on the property. You do not need to live there full-time but must legally nominate it as your main home. 

 

However, if HM Revenues & Customs (HMRC) determines that a property isn’t your main home, you will need to pay Capital Gains Tax on any earnings in its value about your CGT allowance when selling a second home.

Does length of ownership affect Capital Gains Tax?

Yes, the length of ownership can affect Capital Gains Tax, but it’s not just about how long you’ve owned the property; it’s also about the nature and quality of your occupancy.

 

When you sell your home, you may be exempt from paying Capital Gains Tax if you can demonstrate that the property was your main residence. To qualify for this exemption, known as Private Residence Relief (PRR), you need to show that the property was genuinely your main home.

Criteria for main residence

Legislation doesn’t precisely define ‘residence,’ but courts look for elements like permanence, continuity, and an expectation of continued occupancy. This means that just occasionally living in a property isn’t enough. The longer you live there, the stronger your case, although short and occasional residence can still qualify under certain circumstances.

Evidence of main residence

To support a claim that a property is your main residence, utility bills and bank statements sent to the address over a continuous period can be very helpful. If you own more than one property, you can elect which one should be treated as your main residence for tax purposes, but HMRC scrutinises these claims, especially if there seems to be an intent to flip properties for profit.

 

Here are some case law examples:

 

  • Benford vs HMRC (2011): Mr Benford’s claim for PRR was rejected despite his argument of short ownership due to marital breakdown, as evidence suggested the property was empty.
  • Metcalfe vs HMRC (2010): Failure to provide clear documentary evidence of residence often favours HMRC.
  • Moore vs HMRC (2011): Even though Mr More lived in a refurbished property, vague and inconsistent evidence led to the rejection of his PRR claim.
  • Core vs HMRC (2020): Mr Core, a builder, successfully claimed PRR despite only living in the property for six to eight weeks. The tribunal accepted his intention to make the house his primary residence, backed by the fact that he moved in with his children and didn’t initially intend to sell it. 

 

Previously, there was a 36-month rule where no Capital Gains Tax was due on the sale of a property if it was your main residence for the last 36 months of ownership. This period has now been reduced to 9 months. However, if you own only one home, you can still claim full relief for the last 36 months under certain conditions.

 

In summary, while the length of ownership does impact Capital Gains Tax, the quality of your residence and the ability to provide solid evidence play important roles in qualifying for the exemption. The principle is generally “the longer, the better,” but genuine intent and continuous evidence are key factors that HMRC and courts consider.

 

The Property Selling Company can provide our expert advice on nominating your primary residence and leveraging PRR to minimise CGT. We work closely with conveyancers and a panel of solicitors to ensure we understand the nuances of tax laws, and help ensure your nomination is compliant with HMRC regulations.

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Frequently Asked Questions

For the 2024/25 tax year, Capital Gains Tax is charged at different rates depending on your income tax band:

 

  • Basic rate taxpayers: 10% on gains from other assets and 18% on gains from residential property.
  • Higher or additional rate taxpayers: 20% on gains from other assets and 28% on gains from residential property.

The 6 year rule allows you to temporarily rent out your Principal Place of Residence (PPOR) for up to 6 years while still claiming the main residence exemption for Capital Gains Tax purposes. 

 

Each 6 year absence period is treated individually, and there is no limit on the number of times you can use this exemption. However, the property must have been your main residence before you started renting it out.

The best way to sell a Buy To Let property is through a modern estate agent like The Property Selling Company. They can help you sell the property quickly, often within 28 days, covering all usual house selling fees, including solicitor costs. This can offset the amount of Capital Gains Tax you need to pay by minimising additional estate agency or legal costs.

If you sell a jointly owned property at a profit, each owner must pay Capital Gains Tax on their share of the profit. The gain is calculated by subtracting the property’s purchase price and any related expenses from the sale price. 

 

The resulting gain is then divided according to each owner’s share. Each owner can also apply their annual exempt amount to reduce their taxable gain.

You don’t need to pay Capital Gains Tax if:

 

  • You’ve lived in the property the entire time as your main home.
  • You transfer the property to your spouse or civil partner.
  • You put the property into a trust for the benefit of your child.

Certain strategies can help reduce or defer Capital Gains Tax, such as:

 

  • Claiming all eligible deductions and reliefs.
  • Using the annual exempt amount effectively.
  • Reinvesting proceeds into qualifying assets to defer Capital Gains Tax.

Yes, you will need to pay CGT, and you will need to pay Stamp Duty on a property if you purchase one after selling.

 

If you are buying and selling simultaneously, you will need to factor Stamp Duty into the transaction as it is based on the home value — and can end up being thousands of pounds.

 

However, not all properties will be subject to stamp duty. Stamp Duty usually applies to property purchases over £300,000 for first-time buyers or £125,000 for home-buyers.

If the property has been gifted to a civil partner, spouse or charity then you will not need to pay Capital Gains Tax. And, if you have inherited a property, the estate will pay the inheritance tax and no additional Capital Gains Tax is due unless the property is sold. The capital gain is calculated from the date you acquired the property.

The annual Capital Gains Tax allowance for the 2024/25 tax year is £3,000. In the last tax year, the CGT allowance was set at £6,000, which was down from £12,300 in 2022/23. You only pay Capital Gains Tax on gains exceeding this amount.

Yes, you must report and pay Capital Gains Tax within 60 days of selling most UK residential properties. If the property was part of a deceased person’s estate, this must be included in the report to HMRC. Use HMRC’s online Capital Gains Tax Service to report and calculate your gains.

You can avoid Capital Gains Tax on your primary residence due to Private Residence Relief (PRR). Additionally, transferring property to a spouse in a lower tax bracket can reduce CGT liability.

Selling a second home through a modern estate agent like The Property Selling Company is often the best way. We can offer you a fast sale (in as little as 28 days), help you achieve full market value, and we will cover the usual selling fees, including solicitor costs, which can help manage the Capital Gains Tax you need to pay by reducing overall transaction costs.

Yes, you will likely need to pay Capital Gains Tax (CGT) on a derelict property. If the property is derelict, it is probably uninhabitable and unmortgageable, making it challenging to convince HMRC that it has been your main residence. Consequently, you might not qualify for Private Residence Relief (PRR).

 

However, if you can provide evidence that this is your only property and you genuinely reside in it with the intention of refurbishing it, HMRC may consider allowing you to benefit from PRR.

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How to get an estate agent valuation & what do they cost?

child doing a house valuations

How to get an estate agent valuation & what do they cost?

What’s the best way to get a house valuation? With us of course!

Get a free house valuation

WRITTEN BY: Tom condon ★ Digital Content Writer

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How to get an estate agent valuation & what do they cost?

What’s the best way to get a house valuation? With us of course!

Get a free house valuation

WRITTEN BY: Tom Condon ★ Digital Content Writer

arrow

Table of Contents

If you’re looking to sell your home, there are numerous ways to determine its market value. Usually house listing prices are set by experienced estate agents who assess the home and estimate its worth to potential buyers. So, how much does a valuation cost at this initial stage? The good news is that estate agent valuations are completely free!

 

However, if you require a more detailed and comprehensive valuation, there are other options available. In this guide, we’ll explore everything you need to know about house valuations, including the different types and their associated costs.

Key takeaways:

 

  • Free valuations: Most estate agents offer free, no-obligation valuations to provide an initial estimate of your home’s market value.
  • Detailed valuations: For a more comprehensive assessment, you can opt for a survey such as a HomeBuyer Report or Property Valuation Survey, which come with an associated cost but offer in-depth insights into your home’s condition and value. 
  • Easy valuations: The easiest way to get a house valuation is to fill the form in to the right!

How to get an estate agent valuation

Getting an estate agent valuation is a straightforward process that might provide you with a professional estimate of your home’s market value. Here’s a step-by-step guide to help you through the process:

Begin by researching estate agents, both local and online. Look for estate agents with good reviews, a strong track record and experience in your local area. You can find this information on their websites, Google reviews, Trustpilot or by asking for recommendations from friends and family.

Once you have selected a few potential estate agents, visit their official websites. Most estate agents will have user-friendly websites with clear navigation to help you find the services you need.

On the estate agent’s website, look for a section labelled “Book a Valuation”. This button is usually found on the top right corner, or throughout the content. 

 

When you click on the button, you will normally be faced with an online form, which will require your name and contact details.

Once you fill out the form, submit your request. An estate agent will then contact you to discuss your home in more detail. They may ask for additional information, such as the size of your home, recent renovations and any unique features that might affect its sale.

 

At this stage the estate agent may provide you with an initial online house valuation, which will give you a rough estimate of your home value. To confirm the valuation, they will also schedule an in-person house valuation on a schedule that suits you.

Before the estate agent or third party appraisal service arrives, prepare your home by tidying up and making it presentable. This can help give you a good first impression and may positively influence your valuation.

During the estate agent valuation, accompany the estate agent as they assess your home. Be prepared to answer any questions they might have and provide any additional information that could help in determining an accurate valuation.

After the visit, the estate agent will compile a valuation report based on their findings. This report will include an estimated market value for your home, along with an explanation of how the valuation was determined.

 

It’s always a good idea to get house valuations from multiple estate agents to compare estimates and get a well-rounded view of your home’s market value. Don’t hesitate to ask the estate agent about the factors influencing their valuation and how you might increase your home’s value.

You should always make sure that you get more than two estate agent valuations, as some (but not all) estate agents operate unethically, and will overvalue your property in order to win your business. If you get around three different estate agent valuations, then you can see if there are any overpriced offers.

Can you ask an estate agent for valuation?

Yes, you can certainly ask an estate agent for a valuation of your home. There are several ways to go about this other than using their website, depending on your preferences and the estate agent’s available services. 

 

One way to request a house valuation is by contacting the estate agent via phone. Start by finding the contact number of the estate agent from their website or directory listings. Once you have the number, make a call and ask for a house valuation, then follow the steps above.

 

Alternatively, if you are wanting to contact a local estate agent, you can visit the local office and speak to them in person. They will walk you through their process and schedule in a valuation.

Do estate agents give you a valuation straight away?

Estate agent valuations are usually offered as a no-obligation service and represents the initial step in the house selling process. If you would like to get an estate agent valuation straight away, then click the button below and fill out our online form.

 

One of our amazing estate agents will then get in touch with you to discuss your house in more detail before scheduling a house valuation on a timescale that suits you.

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How to get a house valuation without selling?

If you want to get a house valuation without the intention of selling your home, there are a few ways you can do it. Each method can help you understand your home’s current market value for various purposes, such as financial planning, refinancing or making improvements. 

 

One of the most straightforward ways to obtain a house valuation without selling is by requesting valuations from multiple estate agents. Many estate agents offer free, no-obligation valuations as part of their services to attract potential future clients. 

 

Once you receive valuations from multiple estate agents, compare the estimates. To get a more accurate idea of your home’s value, calculate the average of these house valuations. This approach provides a well-rounded view of your home’s market value without any commitment to sell. 

 

Another reliable method for getting a house valuation is to commission a home survey from a qualified surveyor, particularly one accredited by the Royal Institute of Chartered Surveyors (RICS). 

 

The only RICS survey which automatically comes with a house valuation is the Home Buyer Report, which can cost anywhere from £400 to £700, depending on the size of your home.

 

The Home Buyer Report offers a more detailed assessment than the Condition Report. It includes an evaluation of the home’s overall condition, any major defects and recommendations for repairs & maintenance.

 

Both the Condition Report and Building Survey can be conducted with an additional fee for a house valuation, if more or less information is required.

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What is the best way to get a property valuation?

For a seller, an estate agent valuation is more convenient and cost-effective for getting an initial idea of your home’s market value and understanding local market conditions. 

 

However, if you want a detailed and unbiased professional valuation that includes an in-depth condition report, investing in a Homebuyer Report can be very advantageous, especially if you anticipate needing to address issues or provide buyers with detailed information.

 

Using both can be the most beneficial. Starting with an estate agent valuation to gauge market conditions and then, if needed, obtaining a HomeBuyer report for an in-depth understanding and to strengthen your position with potential buyers.

 

Additionally, property valuation surveys from chartered surveyors can also provide a highly detailed and authoritative evaluation, which can be particularly useful for legal or financial purposes beyond just selling.

Which property valuation method is best?

Estate agent valuations are best for quick, free and market focused house assessments. They are useful if you want to get multiple opinions and understand how estate agents will market your home.

 

You should consider an estate agent valuation if you need an immediate market value, looking to prepare to list your home soon, and want to avoid upfront costs.

 

HomeBuyer report on the other hand, is best for a detailed understanding of your home’s condition and objective, professional valuation. Ideal if you want to address potential issues before selling or provide buyers with a thorough report.

 

You should consider a HomeBuyer report if you are willing to invest in a comprehensive assessment to potentially justify your asking price and prepare for any negotiations with informed buyers.

 

Here at The Property Selling Company, we not only provide you with an online and in-person house valuation, but we will also cover the cost of a survey on your home. This allows us to confirm your house valuation with a third party and ensure our house valuations are as accurate as possible.

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How much do estate agents charge for valuations?

Most estate agents will not charge for a house valuation. Usually, estate agent valuations are provided as a free service and come with no obligation, meaning you are not required to use their services afterwards. This is a common practice as it allows estate agents to establish a relationship with potential clients who may decide to sell their home in the future.

 

However, there are instances where a house valuation might come with a charge. This usually applies to mortgage valuations or valuations conducted by chartered surveyors.

 

For an accurate house valuation, you can reach out to chartered surveyors. These professional valuers provide detailed and authoritative evaluations and will usually charge £300+ for this service. Chartered surveyors offer a comprehensive assessment, which is usually useful for legal or financial purposes, including selling, buying or refinancing.

 

Mortgage lenders also conduct valuations to determine your home’s worth before lending money. This is an important step in the mortgage approval process to ensure the loan amount is appropriate for the home’s value. 

 

Usually, you will pay an additional £100 or so on top of your other fees for this valuation. This cost is part of the overall mortgage process, and you won’t be able to borrow the mortgage amount until the lender completes the valuation. 

How much should I pay for a house valuation?

While most estate agent valuations are free and no-obligation, valuations for specific purposes such as mortgages or detailed assessments by chartered surveyors will come with a fee:

TypeSurvey / valuationCostDescription
RICS surveyCondition Report£380+The Condition Report assesses any defects or safety issues at your home and is primarily used for new homes. It does not include a house valuation unless specifically requested.
Homebuyer Report£500+The HomeBuyer report is a more detailed survey that identifies any issues or damage within the home. The report highlights any problems that you or a buyer would need to address for safety or long-term maintenance. It does include a house valuation.
Building Survey£800+A Building Survey is the most detailed report, examining both the structure and condition of a home. For older homes, it highlights the extent of any issues, allowing a buyer to estimate the cost of necessary repairs.
Chartered surveyorProperty valuation survey£320+A Property Valuation Survey involves a chartered surveyor officially valuing your home. The cost will vary depending on the size and value of your house.
Estate agentHouse valuation£0Estate agent valuations are completely free and the easiest valuation to get.
Mortgage lenderMortgage valuation£150+Mortgage valuations change in price relative to the home value.

Do estate agents do valuations for free?

Yes, most estate agents carry out house valuations for free as part of their onboarding process. Offering a free valuation allows estate agents to build relationships with you and provide an initial assessment of your home’s market value. This no-obligation service helps homeowners understand what their home could sell for in the current market and prepares them for the selling process.

 

If you like an estate agent, and like the house valuation they provide you, then it may be worth choosing them to sell your house. At this stage, you should ask them several questions about their house selling process.

 

At The Property Selling Company, we take this service a step further. Not only do we offer free online and in-person house valuations, but we also cover the cost of a Property Valuation Survey to ensure that your house is valued correctly. 

 

Our holistic approach ensures accuracy and reliability in the valuation, giving you confidence in your home’s assessed value. Our goal is to provide you with a detailed and accurate understanding of your home’s worth, which can help you make informed decisions whether you’re planning to sell immediately or just exploring your options.

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Is it worth getting a property valuation?

Yes, getting a property valuation is definitely worth it. A house valuation provides a professional estimate of your home’s market value, which is important at various stages of the selling process. Here are some reasons why obtaining a property valuation is beneficial:

An accurate valuation ensures that you set a realistic and competitive asking price for your home. Overpricing can deter buyers, while underpricing can result in financial loss. An accurate valuation helps you position your house correctly in the market.

At certain stages of the selling process, a house valuation is required. Mortgage lenders for example often require a valuation to approve a loan for prospective buyers. Having a valuation ready can streamline the selling process and make your house more attractive to serious buyers.

Knowing your home’s value can help you make informed decisions about potential improvements or renovations. By understanding the impact of certain upgrades on your home’s value, you can invest wisely and potentially increase your home’s market appeal.

When you get a house valuation, you have a solid basis for negotiations with buyers. It provides documented evidence of your home’s worth, which can help justify your asking price during discussion with buyers.

We highly recommend getting a survey in addition to your house valuation. A survey provides a detailed report on the condition of your home, highlighting any issues that need attention. 

 

Buyers will likely commission their own survey and being aware of any problems in advance can prevent unexpected surprises and allow you to address issues before they become obstacles in the sale.

What devalues a house valuation?

Unfortunately, there are many factors that can devalue a home, and we’ve listed some common ones that homeowners might overlook:

One of the most significant issues that can devalue a home is subsidence and other structural problems. These issues might not always be visible to the naked eye and often require a deeper investigation.

 

Subsidence, the most common structural issue can reduce the value of your home by up to 20% if it’s severe. While selling a house with subsidence is possible, you must legally disclose this to buyers.

 

Other structural issues that can devalue your home include damp, asbestos, flat roofs, and Japanese Knotweed, which can also reduce a house’s value by as much as 20%.

The aesthetic appeal of your home, both inside and out, can greatly impact its valuation. If your interior walls have peeling wallpaper or crumbling plaster, it will not create a positive impression during a valuation. 

 

Similarly, a tired-looking exterior can detract from your home’s appeal. Ensuring a fresh coat of paint, a tidy and clean environment, and well-maintained exterior features like clean windows and repaired pathways can make a significant difference during valuation and viewings.

Following on from the point above, your kitchen and bathrooms are pivotal areas in determining the price of your home. An outdated or poorly maintained kitchen or bathroom can negatively impact your home’s price. 

 

This is mainly because these are the two rooms that people spend the most time in, and often want to imagine themselves in.

The location of your home also plays an important role in its valuation. High crime rates, noise and nearby repossessions or rundown homes can all negatively affect your house’s value. While you may not have control over the neighbourhood, persistent noise and antisocial behaviour can sometimes be addressed by contacting your local council.

In today’s market, energy efficiency is a significant consideration for prospective buyers. A lower-than average energy rating can devalue your home and reduce interest from buyers. Older homes usually have poorer energy performance, which is especially an issue for potential landlords, as rented homes cannot have an energy rating below E.

Do estate agents take photos on valuation?

Most estate agents don’t take photographs for marketing purposes during the validation appointment, as this is usually arranged at a later stage once you have decided to proceed with selling your home. However, there are a few reasons why an estate agent might take photographs during the valuation process.

 

For one, some estate agents might take photos during the valuation to use as evidence back at their office. These images help ensure that their valuation opinion aligns with those of their colleagues, ensuring that you receive the most accurate house valuation possible. By sharing photographs with their team, estate agents can discuss and verify their initial assessment, leading to a more precise and reliable valuation. 

 

A house valuation can take some time, as estate agents or chartered surveyors will thoroughly assess every inch of your home. Taking photographs can be an excellent visual aid when creating your valuation report.

 

These images can help the estate agent recall specific details about your home, such as unique features, areas that need improvement, or any issues that might affect the valuation. 

While photographs during the valuation are primarily for internal use and reporting, the actual marketing photographs are usually arranged later. Once you decide to list your home, the estate agent will schedule a professional photo shoot to capture high-quality images that highlight your home’s best features.

Do I need to clean my house for a valuation?

First impressions count, and it’s important to ensure that your home is clean and presentable before a house valuation. A clean and tidy home creates a positive impression and helps to eliminate any doubts about the condition of your home. 

 

Ensuring your home is clean before a valuation is essential. A well-maintained and orderly home suggests to the valuer that the house has been cared for, which can positively influence their assessment. While you can usually clean your home yourself to a good standard, here are some specific areas to focus on:

 

  • Declutter: Remove any unnecessary items from view to make spaces appear larger and more organised. 
  • Deep clean: Pay attention to all areas, including floors, windows, and surfaces. A thorough clean can make a significant difference.
  • Tidy the exterior: The outside of your home should also be clean and well-maintained, as it contributes to the overall first impression. 

 

If your house has any visual issues such as dampness or subsidence, it is important not to cover these up for the house valuation. Attempting to conceal major defects can backfire, as these issues will likely be uncovered during a more thorough house survey. Misleading buyers about the condition of your home can lead to legal and financial repercussions. 

 

Instead, be transparent about any problems and consider addressing them if possible. Fixing minor issues and presenting your home in its best light without hiding significant defects is a more honest and effective approach.

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Why use The Property Selling Company

When it comes to selling your house, choosing the right partner is important. The Property Selling Company offers a unique and comprehensive approach that sets us apart from traditional estate agents. 

 

We provide more than just a basic house valuation. We offer free online and in-person valuations, ensuring that you have a clear and accurate understanding of your home’s market value. 

 

Additionally, we cover the cost of a Property Valuation Survey, conducted by a qualified surveyor, to confirm the accuracy of our valuations. This thorough approach guarantees that our valuations are reliable and precise, giving you confidence in your home’s assessed value.

 

Our estate agent valuation is completely free and comes with no obligation to proceed. This means you get an initial assessment of your home’s value without any commitment, allowing you to explore your options and make informed decisions at your own pace.

 

We aim to make the process as straightforward and stress free as possible, providing you with all the information you need to move forward with confidence.

 

Choosing The Property Selling Company means partnering with a team that offers more than just a valuation. We provide a comprehensive, no-obligation service that includes detailed surveys, expert advice, and support throughout the selling process, all while helping you sell in as little as 28 days.

 

Our commitment to accuracy, transparency and enhancing your home’s market appeal makes us the ideal choice for homeowners looking to sell with confidence and ease. Contact us today to start your journey towards a successful house sale.

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10 Questions To Ask Estate Agents When Selling Your House

asking question to an estate agent

10 Questions to ask estate agents when selling your house

Looking at the best questions to ask estate agents when selling a house in the UK

Sell your house in 28 days

WRITTEN BY: Tom condon ★ Digital Content Writer

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Purplebricks house valuation vs estate agent

Looking at which is better: A Purplebricks valuation or an estate agent valuation

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

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Table of Contents

When selling your house, selecting the right estate agent can greatly impact the success of your sale. Engaging with an estate agent requires asking the right questions to make sure you’re making the right decisions. 

 

In this article, we will help you understand the right questions to ask estate agents, the costs involved and how you can evaluate effective estate agent marketing strategies. These questions will empower you to establish a productive relationship with your estate agent and achieve a successful sale.

Key takeaways:

 

  • Selecting the right estate agent is important for a successful house sale and asking detailed questions about costs, strategies, and contract terms to make an informed decision.
  • Effective communication and clarity on all aspects of the selling process, including potential hidden costs and the estate agent’s negotiation tactics, can improve your selling experience.
  • Selling with The Property Selling Company means you can sell in as little as 28 days, and we will cover all your costs.

How do you start a conversation with an estate agent?

Starting a conversation with an estate agent can feel daunting, especially if you’re new to the home selling process. Effective communication with your estate agent is important to selling your home at the right price and time. 

 

To help you get started on the right foot, here are some key steps to starting a conversation with estate agents:

Begin with a friendly greeting and introduce yourself. Mention any mutual contacts or how you found the estate agent. 

 

Example: “ Hi, my name is [Your Name]. I found your contact through [Source].”

Clearly explain why you’re reaching out. Are you looking to sell your property?

 

Example: “I’m interested in selling my home in [location].”

Briefly describe your current situation and what you’re looking to achieve.

 

Example: “I currently own a three-bedroom semi-detached home in [area], and I’m looking to sell it within the next month.”

Show that you’re prepared and serious by asking relevant questions.

 

Example: “Can you tell me more about the process of working with you? What are the current market trends in this area?”

Mention how you prefer to communicate and your availability.

 

Example: “I prefer to communicate via email/text/phone. What is the best way to reach you?”

Ask about the estate agent’s availability and how often you should expect updates.

Example: “How often will we touch base during the selling process?”

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Questions to ask estate agent

When selling your home, choosing the right estate agent can be vital in ensuring you get the best out of your house sale. Whether you’re weighing up multiple agents, multiple agency models or brands, here are some of the best questions to ask your estate agent:

1. How much will it cost?

Understanding the costs involved can help you budget effectively and avoid any unexpected expenses. Knowing the estate agent’s fees upfront ensures you are aware of the financial commitment required to sell your home. 

 

If you are looking to sell via a traditional estate agent, you can expect to pay between 1% to 3% +VAT of your final selling price, with additional fees for marketing, photography or mortgage advice.

 

If you are looking to sell via an online estate agent, you will most likely pay an upfront fee which can range from a few hundred pounds to a couple of thousand pounds. Some online estate agents may say you can “sell your home for free”, but in reality they offer a very basic free package and then hit you with paid-packages that cost upwards of £899. 

 

And, that’s without taking into account legal fees. 

 

Alternatively, selling via a modern estate agent like The Property Selling Company means you can actually sell your house for free. Our sellers enjoy free marketing, listing, and legal services. We generate our profit from the buyer’s side, meaning you don’t have to pay a penny.

2. Do you offer a sliding scale of commission?

A sliding scale of commission can incentivise the estate agent to achieve a higher sale price for your home, as their commission increases with the sale price which can align the estate agent’s interest with yours.

 

Many traditional estate agents offer a sliding scale commission rate that decreases as the sale price increases, that can be negotiated for more favourable terms. Online estate agents on the other hand do not offer a sliding scale as they charge a fixed fee which cannot be negotiated.

 

Modern estate agents on the other hand, are completely free and therefore don’t need a sliding scale of commission.

 

3. Are there any hidden costs?

Clarifying if there are any hidden costs ensures transparency and helps you avoid unexpected charges. This includes marketing fees, administrative costs and other potential expenses.

 

When you sell with a traditional estate agent, you may be hit with potential hidden costs like marketing, professional photography, floor plans, EPC and premium listings on Rightmove or Zoopla. But, most of the time these are included within the estate agent commission rate. 

 

Online estate agents’ services differ. Some online estate agents will offer a “free” service which is very basic and will include listing your house online, but then have packages which cost upwards of £899 for essential house selling services like photography, hosted viewings, floor plans and EPCs. 

 

Other online estate agents may act unethically by getting you to sign extended exclusivity agreements and then surprise you with hidden costs. If you encounter such practices, report them to the relevant Redress Scheme, such as The Property Ombudsman.

 

Modern estate agents, on the other hand, offer a completely free service, which covers everything you need to sell your home effectively. 

4. Do I need an Energy Performance Certificate?

An Energy Performance Certificate (EPC) is a legal requirement in England and Wales before a house can be sold. It provides potential buyers with information about your home’s energy efficiency, which can impact their buying decision.

 

An EPC rates the energy efficiency of your home on a scale from A (most efficient) to G (lease efficient). This rating can influence a buyer’s perception of your home’s running costs and environmental impact. Additionally an EPC includes recommendations for improving your home’s energy efficiency, which can be useful for both sellers and buyers.

 

Most online and traditional estate agents require you to cover the cost of the EPC yourself, as it remains valid you switch estate agents. However, The Property Selling Company covers the cost for you, ensuring a smooth and cost-free process.

 

The EPC is valid for 10 years, so if you already have one from a previous transaction within this period, you may not need a new one. If you do need to obtain an EPC, the process usually involves a visit from a qualified assessor who will evaluate various aspects of your home, such as insulation, heating systems and windows.

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5. How will my house be put up for sale?

Understanding the marketing strategy your estate agent will use ensures your house is presented to the widest possible audience, this could include online listings, open houses, professional photos and other marketing tactics.

 

Traditional estate agents will list your home on major property portals, in the office and advertise in local newspapers. They will also conduct hosted viewings and provide marketing materials, included within their service.

 

Online estate agents will also list your house on property portals (Rightmove, Zoopla, maybe OnTheMarket), as well as their website. You may however, need to manage viewings and some marketing aspects yourself unless you opt for a package that includes these services.

 

Modern estate agents like The Property Selling Company will put your house on the property portals like Rightmove and Zoopla, advertise your home to pre-vetted buyers and investors, and offer cover premium listings if needed. All while helping you to sell in as little as 28 days. 

6. How quickly will my house be sold?

While it’s impossible to predict the exact time it will take to sell a house, an estate agent can provide an estimate based on market conditions and their experience. This helps you plan your next steps and manage your expectations.

 

Most online and traditional estate agents usually sell a house within three months, though this can vary based on market conditions, pricing and local demand. In some cases, properties may remain on the market for over six months before receiving an offer.

 

In contrast, modern estate agents can sell your house in as little as 28 days. The majority of properties are sold within six weeks, with completion often occurring within two months. Which is significantly faster than any other estate agency model. 

7. What types of contracts do you use?

Knowing the types of contracts available (e.g. sole agency, joint agency, multiple agency) helps you understand your obligations and rights. Different contracts come with different terms and conditions that can affect the selling process.

 

Traditional estate agents are familiar with sole agency, joint agency and multiple agency contracts, all of which can help generate competitive offers. However, each contract type has different implications for fees and the ability to list with other estate agents.

 

Online estate agents usually offer simple, sole agency contracts due to their fixed fee structure. There may be some flexibility for high-value properties, but generally, these contracts limit the listing to a single estate agent.

 

Modern estate agents are similar to online estate agents in their preference for sole agency contracts, as this approach streamlines the selling process and aligns with their efficient, no-fee model. 

8. Will I be held liable if I change estate agents and sell at a later date?

This question is important to avoid any legal or financial liabilities if you decide to switch estate agents. Some contracts may include clauses that obligate you to pay fees even if you sell with a different estate agent.

 

When you sell with a traditional estate agent you may be liable to a penalty if you sell within a certain period after terminating the contract with your initial estate agent, but this will depend on the contract terms.

 

With online estate agents, you generally pay the fee upfront or upon sale, so switching estate agents might not incur additional liability.

 

When you use a modern estate agent, the process is completely free for you if you sell the house with them. However, if you switch estate agents, you may be liable for the legal and selling costs associated with their side of the transaction. This is because your house sale doesn’t generate any profit for them, and they need to ensure they at least break even. 

9. What happens with viewings?

Understanding how viewings are managed ensures that your home is presented effectively to potential buyers. It also helps you prepare and coordinate your schedule for these viewings.

 

Usually traditional estate agents will manage and conduct viewings on your behalf, including open houses and individual appointments. Online estate agents on the other hand may conduct viewings yourself unless you pay for an additional service where the estate agent handles them.

 

Here at The Property Selling Company, we will handle all your viewings, dealing with potential buyers and if you need it, we may consider an open house. All of this is included within our completely free house selling service.

10. When do I receive funds when my house is sold?

Knowing when you will receive the proceeds from the sale is important for your financial planning. It affects when you pay off any outstanding mortgages, buy a new home or make other financial decisions. 

 

For traditional, online and modern estate agents, you will receive the funds upon completion of your house sale which is usually managed by your solicitor or conveyancer. This is the same regardless of the type of estate agent you use.

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What is the most asked question to an estate agent?

With the current economic uncertainties and fluctuations in the UK housing market, you may have many complex questions about selling your home. It’s important to rely on a market expert like The Property Selling Company, who can provide clear, informed answers and support their advice with solid insights.

 

By getting answers to the most pressing questions in today’s housing market, you can navigate this intricate landscape more confidently. An expert estate agent will help you understand market trends, pricing strategies and the best time to sell, ensuring you make well informed decisions. 

 

Here are the three most asked questions to an estate agent:

How much is my house worth?

Knowing the value of your house can help you set a realistic expectation and make informed decisions about selling. An accurate house valuation can prevent your house from being overpriced, which can deter buyers, or underpriced, which can lead to financial loss.

 

Understanding the value of your home in the current market also helps position it competitively. This is important for attracting potential buyers and achieving a successful sale. 

 

Getting your house valued can also provide clarity on your financial standing, which is important for planning your next steps, whether it’s buying another home, investing or other financial goals. 

 

In order to value your home, most estate agents will:

The value of your home is primarily determined by the current housing market conditions in your area. This includes the recent sale prices of comparable properties (comps), also known as Comparative Market Analysis (CMA).

Some estate agents will carry out the appraisal themselves, while others will hire a third party to do it for them. They will consider the size, condition, location and features of your home.

Many online estate agent websites offer free valuation tools that can give you an estimate based on local sales data and trends, although these are used as onboarding mechanisms to get your email for their database.

Traditional estate agents usually offer a more personalised and detailed house valuation based on in-depth local market knowledge and on-site visits. They often have extensive experience and can provide a comprehensive market analysis and price recommendations.

 

Online estate agents on the other hand often rely on automated valuation models (AVMs) that use data from recent house sales in the area to estimate your home’s worth. The valuation will be less personalised as it will not involve an in-person visit, but some online estate agents like Purplebricks will include virtual valuations.

 

Modern estate agents are hybrid by nature, and use both in-person valuations as well as online house valuations to create an accurate valuation based on your property within the current market and its condition. 

 

What should be the asking price of my house?

Setting the right asking price is a key element of your marketing strategy, as it is the primary factor that will affect the number of potential buyers you receive, and how fast your house will sell.

 

The asking price influences buyers’ perception for the home’s value. A well-chosen house price can generate interest and potentially lead to competitive bidding. Knowing the right asking price allows for flexibility in negotiating and it gives you a starting point that can be adjusted based on buyer feedback and offers.

 

In order to set the right asking price, your estate agent will:

They will look at the asking prices of similar homes in your neighbourhood, as pricing competitively can attract more buyers and lead to multiple offers.

They will then consider the current state of the housing market. In a seller’s market, the house price may be slightly higher, while in a buyers market, the pricing may be lower in order to be competitive.

You and your estate agent will need to be prepared to adjust the asking price based on feedback from showings and the level of interest in your home.

With The Property Selling Company, you can sell your home in as little as 28 days. This quick turnaround time is beneficial for those looking to sell their home without the lengthy process typical of traditional estate agents or the potential delays with purplebricks.

Traditional estate agents may provide more strategic advice on setting the asking price, considering nuances like market trends, local demand and the estate agent’s negotiation strategy. 

 

They will typically offer more support and guidance throughout the pricing process, including the ability to adjust the asking price based on feedback from showings and interest levels. 

 

Online estate agents, on the other hand, use data-driven tools to suggest an asking price. This may be less flexible and more rigidly based on statistical models. Homeowners might have more responsibility for setting and adjusting the asking price themselves, although some online estate agents offer consultations for this purpose. 

 

Modern estate agents, such as The Property Selling Company, use advanced online tools and data analytics to assess your home’s value and understand market trends. Our knowledgeable Regional Managers, who possess in-depth knowledge of their areas, provide insights into regional market dynamics.

How long will it take to sell my home?

Understanding the expected timeframe helps in planning your move and managing the logistical aspects such as the transition to a new home, employment changes or sending your kids to school.

 

The duration your home is on the market can have financial implications like ongoing mortgage payments, utility bills, and maintenance costs. A quicker house sale can minimise these expenses.

 

The question “how long will it take to sell my home?” can give great insight into current market conditions and the estate agent’s experience and effectiveness. An estate agent with a good track record of quick sales is likely to have a strong marketing strategy and good negotiation skills.

 

Here are all the things that could affect your time to sell on the open market:

The average time to sell can vary based on whether it’s a buyers or sellers market. Generally, homes sell faster in a sellers market.

Homes priced correctly tend to sell faster. Overpriced homes can linger on the market, while competitively priced homes attract more interest.

Desirable locations with good schools, amenities, and transport links tend to see quicker sales.

Homes in good condition with modern features and curb appeal, are more attractive to buyers and often sell more quickly.

Effective marketing strategies, including professional estate agent photography, online listings, and house staging can significantly impact the speed of sale.

A proactive and experienced estate agent can streamline the selling process and speed up the sale of your home.

On average, homes in the UK sell within 8 to 12 weeks, but this also takes into account cash house buyers who can buy in as little as 7 days, and property auctions which can help you sell within 28 days. 

 

Traditional estate agents will be able to provide you with an estimate based on your local market experience and previous sales. Their close relationships with buyers and knowledge of local market trends can lead to a more accurate prediction. 

 

High street estate agents will use local marketing strategies and their access to personal networks to speed up the sale process as much as they can. However, traditional estate agents are the slowest route to sale, with many houses sitting on the market for upwards of 2 months, and completing in 4 months. 

 

Online estate agents might provide you with a broader estimate based on their general market data rather than local expertise. They rely heavily on online listings and digital marketing, which can attract a wide audience, but they lack the personalised touch of traditional methods. Hence, online estate agents can also take upwards of 2 months to sell.

 

Modern estate agents on the other hand, like The Property Selling Company can help you sell your house in as little as 28 days, with most house sales and completion times sitting at around 6 weeks. Modern estate agents are the fastest estate agency model.

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What should I avoid asking an estate agent?

When working with an estate agent to sell a house, it’s important that you maintain a professional and respectful relationship. Here are some questions you should avoid asking, along with explanations for why they might not be appropriate:

Asking to list your house above its market value can be problematic. Overpricing can result in the house sitting on the market for too long, leading to a lack of interest from potential buyers. This can eventually force price reductions, which might make buyers suspicious of the house’s condition or value. 

 

The Property Selling Company will always provide accurate and realistic house valuations based on current market conditions. We use our expertise to set a competitive and fair price, helping to avoid overpricing that can deter potential buyers and prolong the selling process.

This question is inappropriate and unprofessional. It undermines the estate agent’s professionalism and can damage the working relationship. Most estate agents work hard to earn their commission, and implying desperation can come across disrespectful.

 

We operate with professionalism and integrity, ensuring transparent communication about fees and commissions (there aren’t any). Our focus is providing quality service and achieving the best results for our house sellers rather than appearing desperate for commissions.

Negotiating commissions is part of the business, but outright asking for a lower commission can be seen as undervaluing the estate agent’s expertise and effort. Instead, discuss the services included in their fee and see if there are any adjustments that can be made without devaluing their work. 

 

The Property Selling Company offers competitive commission rates from the outset, which are clearly outlined. This eliminates the need for uncomfortable negotiations and ensures you understand the value of the service provided.

Privacy laws and professional ethics prevent estate agents from sharing the personal contact details of prospective buyers. This question can put the estate agent in an uncomfortable position and is generally inappropriate.

 

We follow strict privacy laws and ethical guidelines, protecting the contact details of prospective buyers. We handle all communications professionally, ensuring a seamless and secure process for both our sellers and our buyers.

If an estate agent suggests repairs or improvements, it’s usually to enhance the property’s marketability and value. Dismissing their advice can hinder the sale process and potentially reduce the sale price. It’s better to discuss and understand the rationale behind their recommendations. 

 

Our experienced estate agents may provide expert advice on necessary repairs or improvements to improve your home’s appeal and market value. But, most of the time this is not needed as we can sell your home as-is due to the nature of our pre-vetted buyers and investors.

Here at The Property Selling Company, we specialise in quick open market sales, and can complete house sales far faster than traditional estate agents. In fact, where it can take 16 weeks to complete with a traditional estate agent, we can help you achieve it in as little as 6 to 10 weeks. 

 

You won’t ever have to worry about upfront costs, as our fees are deducted from the buyer’s purchase price, which makes the entire process far more financially manageable. And, we will handle and cover all of the legwork, including marketing, negotiations, and the conveyancing process, providing a hassle-free selling experience.

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More frequently asked questions for estate agents

Understanding an estate agent’s marketing strategy is important as it directly affects your home’s visibility and sale speed. Effective marketing strategies include professional photography, virtual tours and listings on high-traffic property portals like Rightmove and Zoopla.

 

Here at The Property Selling Company, we take a holistic approach to selling your house, and we conduct professional photos, virtual tours, and listings on the major property portals to reach a wide audience quickly.

Market conditions fluctuate. Asking this question helps you gauge the current market climate and whether it’s favourable for selling, potentially maximising your profit. 


We have a great guide on whether it is a good time to sell or not.

Traditional estate agent fees range from 1% to 3% +VAT of your selling price, online estate agent services can range from “free” to £1,499+, and modern estate agents are completely free. We charge no fees for our services, and we will even cover your legal fees.

Understanding when fees are due is important for financial planning. Some online estate agents charge upfront, while traditional estate agents deduct fees upon completing the sale. We do not charge any fees at any stage of the selling process.

The contract length affects your flexibility. Shorter contracts allow for reassessment if the estate agent’s performance is unsatisfactory, while longer contracts may lock you in. Our contracts are flexible, designed to suit your needs without long-term commitments.

Virtual tours can improve property exposure, especially in our digital age where buyers prefer viewing homes online, and as a result can attract more buyers who wouldn’t otherwise be able to physically visit.

 

Here at The Property Selling Company, we support virtual tours as they can enhance property visibility and attract more potential buyers. Virtual tours can come in many forms, and most of our houses will be filmed by our regional managers.

Knowing where your house will be listed ensures it reaches a broad audience. Major property portals like Rightmove and Zoopla are essential for maximum visibility. 

 

Your house will be listed on major property websites including Rightmove and Zoopla, as well as our own website.

Understanding the estate agent’s success rate with similar homes gives insight into their effectiveness and what you can realistically expect.

 

We aim to sell all houses in as little as 28 days, but if you would like to know more about your property type, then please feel free to contact one of our estate agents.

An estate agent’s geographic coverage can affect their market knowledge and buyer pool. Ensuring they cover your area is essential for a successful sale.

 

We are a leading nationwide modern estate agent, and therefore operate across England and Wales. We currently do not operate in Northern Ireland or Scotland (this may change in the future).

Experience can indicate an estate agent’s proficiency and ability to handle various market conditions and challenges effectively. 

 

The Property Selling Company has been operating since 2018, and is part of one of the UK’s leading house selling solution companies, which has been operating since 2012. We have over a century of combined experience in our ranks, and have helped hundreds, if not thousands of people move house.

Confirming the areas covered ensures the estate agent has local market knowledge and can attract buyers specifically interested in your region. 

 

We cover all regions of England and Wales, with Regional Managers in the North and South who are available to visit your home. Our headquarters is in Wetherby in Leeds.

Membership in professional bodies like The Property Ombudsman ensures the estate agent adheres to high standards and ethical practices, providing you with protection.

 

We are members of The Property Ombudsman, which not only means we follow high standards and fair practices, but also allows you access to a Redress Scheme if anything ever did go wrong, although we will do everything in our power to make sure you have a happy and satisfying experience.

An estate agent’s track record with similar homes can indicate their expertise in handling homes like yours and achieving successful sales.

 

We have a strong track record of selling homes quickly and at competitive prices, helping hundreds of homesellers over the past 6 years we’ve been in business. If you want more details on how we’ve helped similar homes to yours, please get in touch today.

Effective negotiation and sales progression are vital for securing the best price and ensuring a smooth sale process.

 

At The Property Selling Company, we handle all negotiations and have an in-house progressions team that will push sales through to completion, while communicating with solicitors so you don’t have to.

Preparing your house for sale will impact its appeal and value. Knowing what improvements or home staging is necessary can improve its marketability.


We would recommend that you decluttered, cleaned and made any minor repairs to improve your home appeal. We have many guides on our website on this.

An accurate asking price is vital to attract buyers and avoid overpricing or underpricing. Understanding the valuation process helps set realistic expectations.

 

We use comprehensive market analysis and expert valuations to set competitive asking prices. We will do everything we can to ensure that your home is never overpriced or underpriced.

Local market knowledge is important for effective pricing, marketing and attracting the right buyers. An estate agent experienced in your area can provide valuable insights.

 

We have extensive knowledge of local markets across England and Wales, tailoring our approach to each area.

A house survey can identify potential issues that might affect the house sale. Knowing whether to get one helps in preemptively addressing any problems.

 

As part of our house selling service, we will recommend that a house survey is completed on your house. We will cover this, and you won’t have to worry about paying for it. This provides clarity on your house’s condition to potential buyers and helps us give it an accurate asking price.

An estate agent’s credentials and qualifications ensure they have the necessary training and expertise to handle your house sale professionally.

 

The Property Selling Company is accredited by The Property Ombudsman, all of our buyers are AML checked, and we have a proven track record within the industry.

Understanding the estate agent’s negotiation tactics can give you confidence in their ability to secure the best price for your home. Our experienced team manages all negotiations to secure the best possible price for your home.

Comprehensive support throughout the process ensures a smoother experience and helps in addressing any issues promptly. 

 

We offer full support, from initial valuation to completing the sale, utilising our team of estate agents, underwriters, panel of solicitors and our progressions team, to ensure a smooth selling process.

Regular updates and communication are essential for staying informed about your sale’s progress and addressing any concerns timely.

 

We will provide you with regular updates and are always available for any questions or concerns. Our estate agency team are experts in their field, and our progressions team are always on hand.

Knowing what sets an estate agent apart can help you choose one that aligns with your needs and offers unique advantages. 

 

Our no-fee model, full estate agency service, and commitment to helping you sell in as little as 28 days sets us apart from all the rest. We are the only modern estate agency on the market operating at this level and service.

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Purplebricks House Valuation VS Estate Agent Who To Pick?

Estate agent from Purplebricks in a purple suit

Purplebricks house valuation vs estate agent

Looking at which is better: a Purplebricks valuation or an estate agent valuation

Sell your house in 28 days

WRITTEN BY: Tom condon ★ Digital Content Writer

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Purplebricks house valuation vs estate agent

Looking at which is better: A Purplebricks valuation or an estate agent valuation

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

arrow

Table of Contents

Purplebricks is one of the first online estate agencies to make the “super-brands” list, and are well known for their distinctive branding and widespread recognition. 

 

They offer a model designed to save homeowners thousands of pounds compared to traditional estate agents. Operating 24/7 with comprehensive online account management, they provide a level of convenience that many find appealing.

 

Purplebricks stands out as one of the most recognisable and well-branded online estate agencies. But how does the Purplebricks house valuation measure up to estate agents? In this article we delve into who Purplebricks are, the pros and cons of using their service, and how they stack up against other estate agents.

The difference between Purplebricks and estate agents

Purplebricks (formerly Strike) is an online estate agent offering house valuations and advert placements on major UK property portals such as Rightmove and Zoopla. They provide a basic service, but much of the selling process is left to the homeowner. Additional services, like hosted viewings or upgrading adverts, are available for an extra fee.

 

High street estate agents, on the other hand, offer a more hands on approach. Their standard package typically includes accompanied viewings, professional photos and floorplans. They often operate on a ‘no sale, no fee’ basis, meaning you only pay once your home is sold, usually as a commission – 1% to 3% +VAT of the final selling price.

 

Recently, Purplebricks relaunched its services after being bought by Strike for £1, promoting their ability to sell your home for free. In reality, they provide a basic package at no cost but charge for “optional” extras.

 

However, traditional and online estate agents are not the only options. Modern estate agents, also known as hybrid estate agents, offer a different approach. For example, here at The Property Selling Company, we provide a completely free selling service, ensuring you won’t have to pay anything, regardless of the amount of marketing your home requires. 

Is it worth using an estate agent instead?

While both Purplebricks and traditionale estate agents have their advantages, The Property Selling Company stands out for offering a cost-free, comprehensive and hassle-free estate agency solution. 

 

Using an estate agent is ideal if you want to maximise your profit from selling your house, but be prepared for the process to take over three months. Purplebricks on the other hand, can be a good option if your house is already in high demand and needs only a small push to sell. 

 

However, if your home struggles on the market, you will have to pay for additional services. The selling process with Purplebricks can take up to two months to complete. 

 

Choosing us means benefiting from the best aspects of both online and traditional approaches without the financial burden, making it a smart and practical choice for homeowners looking to sell their homes quickly.

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How to get a Purplebricks house valuation

Purplebricks’ house valuation process can be somewhat misleading. Although their website claims to offer both online and in-person valuations, the actual service is more complex. They promote a virtual valuation that supposedly happens ‘in a click of a button,’ but in reality, you need to sign up and schedule a video appointment for a comprehensive evaluation of your home.

 

To obtain this virtual valuation from Purplebricks, follow these steps:

 

  1. Visit their website: Go to the Purplebricks website.
  2. Book a free valuation: Click on the ‘Book a free valuation’ button.
  3. Agent contact: An estate agent will then contact you to arrange the virtual valuation.

 

Additionally, be cautious of the term ‘local estate agent’ on the Purplebricks website. Purplebricks operates from a single headquarters in Colchester and does not have local offices. 

 

When comparing Purplebricks to other estate agency services, you will usually encounter either an online house valuation tool or an in-person valuation. The online house valuation tool offers a rough estimate based on recently sold homes in your area. 

 

It can be handy for a quick, general idea of your home’s value, but only using basic data and does not consider your home’s specific condition or unique features, making its valuation less accurate and reliable. 

 

In contrast, an in-person house valuation involves an estate agent visiting your home for a thorough evaluation. This process includes assessing the current condition of your home and considering any unique features or improvements that might affect its value. 

 

At The Property Selling Company, we utilise both online and in-person valuations to ensure an accurate and reliable estimate of your home’s value. Our process begins with an online house valuation, providing you with an initial estimate of what we can expect to achieve for your home. 

 

Following this, we conduct an in-person survey to thoroughly assess your home’s condition and unique features. This comprehensive approach supports buyer confidence and helps minimise the risk of your sale falling through. 

Do Purplebricks charge for valuations?

Purplebricks offers house valuations free of charge, as do most estate agents, since this is a standard part of the onboarding process. However, be cautious of the possibility of overvaluation, a tactic some estate agents use to win your business.

 

This unethical practice can mislead you about your home’s true market value. To avoid this, it’s advisable to obtain at least three valuations and compare them to ensure there are no significant discrepancies.

Do Purplebricks take a percentage?

Purplebricks offers various packages for selling your home, each with different features and pricing structures. But, they do not charge a commission based percentage fee. Here’s a breakdown of what they provide:

Purplebricks allow you to sell your home without any upfront costs, this package includes:


  • Valuation & report: Insights about your home and area.
  • Listing on Zoopla: Your home is showcased on Zoopla, but not Rightmove.
  • Viewing management app: Manage your viewings, offers and communicate with buyers.
  • Professional negotiation: Ensure you get the best possible price for your home.
  • Support team: A team of experts assists you at every step.

Don’t worry if the sell your house for a free option isn’t good enough, because now you get to pay for basic services which are normally free! 


  • Hosted viewings: £899.
  • Rightmove listing: £399.
  • Rightmove featured property: £149.
  • Rightmove premium listing: £125.
  • EPC: £119.
  • Professional photography, virtual tour & floorplan: £699.
  • Elevated photography: £99.
  • Drone photography: £199.

For properties that are struggling to sell, the Boost package offers additional features to help your home stand out. The boost package costs £899 :


  • Professional photography: Normally a basic service, professional photography can make your house ‘pop’ online.
  • 360 Virtual tour: A virtual tour of your home can help buyers who live further away.
  • Professional floor plan: Another basic service, floor plans can help buyers work out how much space is available.
  • Premium Rightmove listing: Increased visibility on Rightmove.
  • Mortgage advice: Not included in the boost price, costs £149.

For total support, the Full house package costs £1499, including everything above, and everything below:

 

  • Hosted viewings package: Normally a basic estate agent service, professional viewings managed by Purplebricks.
  • Expert mortgage advice: Worth £299, included within the package.

Do Purplebricks use Zoopla?

Yes Purplebricks uses Zoopla as their primary property portals. Listings on Zoopla are included for free as part of their standard service, with no additional charges unless you choose to invest in paid advertising options.

 

In contrast, Rightmove (the larger portal) is included in Purplebricks’ Boost package, which comes at an additional cost. 

So, is Purplebricks free?

Purplebricks markets itself as a cost-effective alternative to traditional estate agents, offering a ‘free’ selling package that includes a house valuation, listing on Zoopla, a viewing management app, professional negotiation and expert support.

 

However, while the initial valuation and basic listing come at no charge, additional services such as hosted viewings, Rightmove listings and professional photography incur extra costs. Purplebricks does not charge a commission fee, but their various service packages and optional add-ons can add up. 

 

Their approach can be somewhat misleading, as what appears to be a simple, free service can quickly become more expensive with necessary add-ons for a comprehensive selling experience. Therefore, while you can technically sell your home for free through Purplebricks, achieving the best results may involve additional expenses.

 

The Property Selling Company on the other hand, offers a superior and more transparent home-selling experience compared to Purplebricks and traditional estate agents, here’s why:

Unlike Purplebricks, which charges for additional essential services, The Property Selling Company provides a completely free house selling service. You won’t pay any fees, hidden or otherwise, ensuring you keep more of your home’s sale price.

The Property Selling Company uses both online and in-person valuations to give you an accurate and reliable home valuation. This dual approach ensures that all aspects of your home, including this condition and unique features are considered, leading to a more precise valuation.

The Property Selling Company includes all necessary services in their offering without additional charges. This includes professional photos, floorplans, and hosted viewings. In contrast, Purplebricks charges extra for many of these essential services, which can add up quickly.

With The Property Selling Company, you can sell your home in as little as 28 days. This quick turnaround time is beneficial for those looking to sell their home without the lengthy process typical of traditional estate agents or the potential delays with purplebricks.

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Purplebricks valuation vs estate agent

Choosing between an estate agent and Purplebricks ultimately depends on your personal preference and priorities. 

 

Traditional estate agents offer a more hands-on selling experience, as they possess local knowledge and provide services such as professional photography, hosted viewings and detailed floor plans, making sure your home is presented at its best.

 

High street estate agents also use their extensive local knowledge to provide reliable and accurate house valuations. By considering the local area as well as the condition of your home, they can give you a realistic house value. 

 

However, this complete service often comes with higher fees, usually in the form of a commission based on the final selling price. 

 

Purplebricks, on the other hand, may be a cheaper option due to their fixed-fee structure. However, their more hands-off approach means you might get less for your money, and means you will need to do a lot more work. Essential services come at an additional cost, which increases your expenses. 

 

The reliability of Purplebricks’ valuation services can be mixed. While they offer a free initial valuation and a detailed report, their use of virtual valuations and online tools might not always capture the specific nuances of your home. This can lead to valuations that may not be as accurate as those provided by high street estate agents. 

 

However, there is good news. At The Property Selling Company, we offer a method that helps guarantee a sale without any upfront costs. Our comprehensive service ensures you receive expert support and professional marketing, all while eliminating the financial burden associated with selling a home. 

Do estate agents give different valuations?

Yes, estate agents often provide different house valuations. This variability is mainly due to the subjective nature of house valuations and the differing opinions of estate agents regarding a house’s worth. Several factors contribute to these differences:

Most estate agent valuations are based on their personal judgement. Estate agents may have different perspectives on the home’s features, condition and appeal, leading to varying valuations.

Estate agents have varying levels of experience and expertise. An estate agent with extensive knowledge and experience in the local market may provide a more accurate valuation compared to someone less familiar with the area.

Different estate agents may use different methods to value a home, such as comparative market analysis, income approach, or a cost approach. Each method can yield different results based on the data and assumptions used.

Estate agents may have different interpretations of current market conditions, including demand, supply, and recent sales of similar properties. This can lead to discrepancies in their valuation estimates.

Estate agents operate differently, influencing their valuation strategies. For instance, an estate agent who earns commission based on the sale price might price a home higher to secure a better cut, while another estate agent might provide a moderate valuation to attract potential buyers and avoid overpricing. 

Online estate agents, who operate entirely online, may rely on tools like Zoopla’s sold house price tool or the HM Land Registry for their valuations. However, they may lack the local market knowledge that traditional or hybrid estate agents possess. 

 

This can result in online estate agents offering valuations that are either higher or lower than those provided by estate agents with a better understanding of the local market dynamics.

Some estate agents might provide a higher valuation to please the client and secure their business, while others might offer a more conservative estimate to manage expectations. Additionally, estate agents’ marketing and negotiation strategies can influence their valuation approach.

Are Purplebricks valuations accurate?

 

Home House Buyers estimates that Purplebricks valuations are usually within 5% to 10% of the actual sale price. However, some customers report that Purplebricks tends to undervalue properties significantly. 

 

Based on these observations, the most realistic selling price often falls between the Purplebricks valuation and the valuations provided by traditional estate agents. Therefore, aiming for a price in the middle of these two estimates is likely to give you a more accurate expectation of your home’s market value.

 

In our experience with Purplebricks, they tend to undervalue properties compared to local estate agents and the ultimate sale price. One of our customers obtained three valuations, including one from Purplebricks, and eventually sold for a price that matched ours, and was somewhere in the middle of quotes we received.

 

As others noted, Purplebricks gets their fee paid regardless of the sale outcome, so their primary interest may be in getting your house listed rather than securing the best possible sale price. 

Is Purplebricks really cheaper than an estate agent?

Estate agent fees range from 1% to 3% +VAT, with the average being around 1.42%. Let’s compare this to Purplebricks using the current UK average house price of £285,000.

 

Using Purplebricks’ fee service is definitely cheaper, but it does not include professional photography or floor plans, which are typically part of the basic service offered by many estate agents.

 

With the current average estate agent commission, you might pay around £4,075 in fees. In contrast, Purplebricks offers more affordable options: £899 for their Boost package and £1,499 for their Full House package.

 

Alternatively, you could consider selling your house with The Property Selling Company, which is completely free of charge for sellers. They will even cover your legal fees, providing a cost-effective solution compared to traditional and online estate agents.

Do you pay Purplebricks if you don’t sell?

Yes, when you sell your house with Purplebricks, you are required to pay upfront. This means that even if your house doesn’t sell, you will still need to pay for the package or any other additional marketing options you selected.

 

One of the criticisms levelled against Purplebricks is that their upfront fee structure can potentially diminish their motivation to ensure a successful sale. Since they receive payments regardless of the sale outcome, there may be less incentive to actively market and sell your home compared to traditional estate agents who earn a commission only upon the successful sale of a home.

 

In fact, according to Purplebricks’ Wikipedia page, even the BBC has highlighted concerns regarding their lack of motivation to sell homes, as they have already been compensated through their upfront fees.

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Why not to use Purplebricks?

There are several reasons a homeowner might choose not to use Purplebricks, a housing solution service that offers a flat fee for selling homes. Here are some common concerns:

Purplebricks charges a flat fee upfront, regardless of whether your home sells or not. This can be a risk if your home doesn’t sell quickly, as you’re still out of pocket for the service.

Some homeowners feel that the level of service provided by Purplebricks is not as comprehensive as that offered by traditional estate agents. This might include less personalised attention, fewer in-person showings, and a more transactional approach.

The quality and experience of Purplebricks’ estate agents can vary significantly. SOme users have reported excellent experiences, while others have encountered estate agents who were less effective or communicative.

Traditional estate agents often have more robust marketing strategies and larger networks, potentially leading to quiver sales at higher prices. Purplebricks’ marketing efforts might be more limited in comparison.

Traditional estate agents often have deep local market knowledge and connections, which can be vital in accurately pricing and selling a home. Purplebricks estate agents might not always have the same level of local expertise.

There have been reports of difficulties in reaching customer service or receiving timely responses, which can be frustrating during the home selling process.

If your house has unique features or if the market conditions are particularly challenging, you might need a hands-on, tailored approach that Purplebricks might not provide.

While the upfront fee is supposed to cover most of the service, there may be additional costs for services like premium listings or hosted viewings, which can add up.

Are Purplebricks in financial trouble?

Purplebricks experienced a significant decline in share price in the past few years. In August 2022, the company reported an annual loss and lower instruction volumes, causing shares to tumble. The share price decline was likely due to the company’s ongoing financial struggles and profit warnings. 

 

Purplebricks issued several profit warnings, indicating ongoing financial difficulties. In February 2023, the company issued another profit warning and put itself up for sale. It expected to bring in revenue of between £60 million and £65 million for the financial year ending in April, with a loss of around £20 million.

 

This followed a previous profit warning in August 2022, where the company reported a loss of £28.8 million for the previous financial year. Purplebricks’ revue was also impacted by its financial struggles. The company reported revenue of £70 million for the financial year ending in April 2022, down from £90.9 million the previous year. It expected revenue of between £67.5 million and £72.5 million for the 2023 financial year.

 

Purplebricks however, the once high-flying online estate agent, was sold to Strike for £1, with all of its more than 750 staff put at risk of redundancy. The company, which had threatened to shake up the housing market with its low-cost model, put itself up for sale in February after issuing a string of profit warnings that resulted in its market value plunging to just £30 million.

Have Purplebricks gone bust?

In 2024, Purplebricks rebranded and adopted Strike’s “sell your house for free” offering. But let’s be real, it’s not truly free. You still end up paying for services that are standard with any estate agent.

 

If you want a genuinely “free” way to sell your home, consider The Property Selling Company, one of the UK’s leading modern estate agents. We can help you sell in as little as 28 days, covering all your legal and marketing costs. We can even assist with your onward purchases. Why settle with OK, when you can have the best?

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Can Estate Agents Lie About Offers & How To Spot Them

estate agent lying to customer

Can estate agents lie about offers?

Talking about estate agent lies and how you can spot them

Sell your house in 28 days

WRITTEN BY: tom condon ★ Digital Content Writer

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Can estate agents lie about offers?

Talking about estate agent lies and how you can spot them

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

arrow

Table of Contents

Unethical estate agents may lie about receiving multiple offers to create urgency or push you toward a quick decision. They may also steer you towards a particular buyer from whom they expect a higher commission. 

 

In this article we will discuss whether estate agents lie about offers on houses, why lying is unethical and what the role of The Property Ombudsman is in protecting consumers.

 

Key takeaways:

 

  • Estate agents lying about offers is unethical and against professional standards, but fabricating offers is illegal and punishable by UK law.
  • The Property Ombudsman provides a redress scheme to handle complaints, ensuring estate agents follow a strict code of conduct. 
  • Consumers can report dishonest practices to TPO, which can investigate and impose sanctions on non-compliant estate agents.
  • The Property Selling Company is an honest estate agent, operating under the TPO code of conduct.

Do estate agents lie about offers?

Yes, estate agents can and sometimes do lie about offers on a house. They may do this to create a sense of urgency, boost their commission, or gain an advantage in negotiations. However, there is a difference between lying about an offer and completely fabricating an offer. While both are unethical, fabricating an offer is outright illegal. 

 

In the UK, estate agents are required to be members of an approved redress scheme to handle complaints made by consumers. The Property Ombudsman is one such scheme, but it is not the only one. The two main redress schemes for estate agents are:

 

 

Membership in one of these schemes is mandatory for estate agents operating in the UK. Therefore, while estate agents do not have to be members of The Property Ombudsman specifically, they must be part of either TPO, PRS, or another government-approved redress scheme. This requirement ensures that consumers have a formal process to resolve disputes with estate agents. 

 

If an estate agent is operating without being a member of an approved redress scheme, they are in breach of the law and could be imposed with fines (up to £5,000 per breach) and legal action from Trading Standards. You should not sell your house with an estate agent not part of a Redress Scheme. 

 

The Property Ombudsman helps to protect customers by regulating estate agents and ensuring they follow strict ethical procedures. TPO provides a redress scheme for homesellers to resolve disputes with estate agents. Membership in the TPO is voluntary but highly regarded within the industry. Here’s how the TPO helps protect consumers:

 

  • Code of conduct: TPO members must follow a strict code of conduct which includes honest and transparent dealings regarding offers on properties. Lying about offers breaches this code. 

 

  • Complaint resolution: Consumers can file complaints with the TPO if they suspect misconduct such as lying or fabricating offers. The Property Ombudsman investigates these complaints thoroughly.

 

  • Disciplinary action: If an estate agent is found to have breached the code of conduct, the TPO can impose sanctions, including warnings, fines or even expulsion from the scheme. 

 

  • Consumer protection: By holding estate agents accountable, the TPO helps maintain trust in the housing market. Even though membership is voluntary, reputable agents often participate to demonstrate their commitment to ethical practices. 

 

While it is possible for estate agents to lie about offers, it is both unethical and against the code of conduct set by regulatory bodies like The Property Ombudsman. The Property Selling Company ensures a transparent process, providing you with an honest house valuation and real offers, helping you to avoid the pitfalls of dishonest estate agents.

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Is it illegal for estate agents to lie about offers?

It is not strictly illegal for estate agents to lie about offers, but it does violate a code of conduct set by The Property Ombudsman that they are expected to follow, especially if they are regulated. Lying about offers can still be misleading and unethical, but the legal repercussions may not be as severe unless it crosses into fraudulent behaviours. 

 

However, if an estate agent fabricates an offer, this is illegal. Under the Fraud Act 2006, fabricating an offer is considered Fraud by False Representation. This occurs when an estate agent:

 

  • Makes a false representation
  • Intends to gain personally or for their company
  • Intends to cause loss to their customer or expose anyone to a risk of loss

 

This constitutes a criminal offence and can result in severe legal consequences, including imprisonment and fines, although the later is more likely.

 

Here at The Property Selling Company, we pride ourselves on our honesty and transparency, ensuring that every offer presented to you is genuine and backed by our commitment to ethical practices, giving you peace of mind and confidence in the sale process.

Can you report estate agents for lying?

Yes, you can report estate agents to The Property Ombudsman if they lie to you about offers on your house. Here’s how you can do it and what you can expect from the process:

Gather all relevant evidence, including communications, emails and any documentation that supports your claim that the estate agent lied about your offers.

You can submit a complaint to the TPO through their website, by email, or by post. Make sure to provide all the necessary details and evidence. TPO will assess your complaint and determine if it falls within their jurisdiction and if the estate agent has breached the code of conduct.

TPO will conduct an initial assessment to understand the nature of your complaint. If required, TPO will conduct a detailed investigation which may involve gathering additional evidence and statements from both parties.

The Property Ombudsman aims to mediate and resolve the dispute between you and the estate agent. They will try to work towards a fair resolution, which often involves making recommendations or instructing the estate agent to take specific actions to rectify the situation.

 

If the estate agent is found to have lied and breached the code of conduct, TPO can impose sanctions. These can include formal warnings, compensation orders, fines or even expulsion from the scheme.

 

TPO’s decisions are binding on member estate agents. If the estate agent fails to comply, they can face further disciplinary actions.

Reporting unethical behaviour helps protect your interests and ensures that you receive fair treatment. By holding estate agents accountable, The Property Ombudsman helps maintain high standards within the housing sector. Reporting dishonest practices can deter other estate agents from engaging in similar behaviour.

 

If you believe an estate agent has lied to you about offers on your house, you have the right to report them to The Property Ombudsman. TPO will investigate your complaint, mediate the dispute and take appropriate actions to ensure a fair resolution.

 

With The Property Selling Company, you can rest assured that our transparent and straightforward approach means you won’t need to worry about dishonest practices or misrepresentation.

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Do estate agents lie about other offers?

Estate agents should not disclose specific details about other offers unless those offers have been rejected as too low, or the agent has explicitly stated that they are sharing this information with all parties involved.

 

Sharing such details selectively is unprofessional and unethical. However, it’s important to remain cautious as not all estate agents strictly follow these standards.

 

If an estate agent does inform you about another offer, approach this information with scepticism. They may be exaggerating or fabricating details to influence your decision. 

 

Unethical estate agents might lie about other offers to create a sense of urgency or to push you into making a higher bid. This can lead to a ‘knee-jerk’ reaction, where buyers panic and bid beyond their means to secure the deal. 

 

We avoid such practices by ensuring that all offers and information shared with you are accurate and verified, helping you make informed decisions without undue pressure. 

Do estate agents have to prove other offers?

Estate agents are not legally required to prove the existence of other offers unless they choose to disclose this information. If they do, they must ensure it is accurate and shared transparently with all parties involved.

 

Under the Estate Agents Act 1979, estate agents must act in the best interests of their clients and treat all parties fairly. They are not allowed to disclose specific details of other offers unless they have obtained permission from the parties involved. If they do share such information, it must be accurate and truthful.  

 

It is illegal for estate agents to provide false or misleading information about property offers or transactions. Doing so can result in regulatory action and penalties under the Estate Agents Act 1979. However, the Act does not specifically mandate the disclosure of specific details about other offers which can sometimes lead to confusion.

 

While the law may not explicitly require estate agents to provide proof of other offers, professional standards set by The Property Ombudsman demand that any information shared must be accurate. Estate agents should not fabricate or misrepresent offers, following ethical guidelines and maintain integrity in their dealings. 

 

Estate agents can discuss other offers without providing proof as long as the information is truthful and not intended to mislead. This approach helps maintain transparency while respecting confidentiality agreements and the privacy of other parties involved.

 

For serious breaches of the Estate Agents Act, the National Trading Standards Estate Agency Team (NTSEAT) can issue prohibition orders, preventing individuals from engaging in estate agency work and effectively ending their careers in the industry. This enforcement makes sure that estate agents operate within the legal framework and maintain high standards of professionalism. 

 

Here at The Property Selling Company, we make sure that all the information about offers is communicated transparently and accurately, giving you a clear and honest view of the market and potential buyers. 

Do agents lie about having offers?

Ethical estate agents typically won’t lie about receiving offers, but they may withhold or present information in a way that encourages potential buyers to act. For instance, they might say “the seller is considering other offers,” even if there is only one offer on the table. This creates a sense of competition without being entirely untruthful.

 

Sometimes, estate agents might even mention that the seller is about to accept sealed bids, prompting you to submit an offer quickly. This strategy is used to speed up the process, but it doesn’t necessarily mean there are multiple offers.

 

Most ethical estate agents avoid outright lies about the existence of offers because they understand the serious repercussions of such actions. Lying about offers can lead to loss of trust, damage to their reputation, and severe legal consequences under laws like the Estate Agents Act 1979 and the Fraud Act 2006. 

 

While they might use certain tactics to create urgency or encourage offers, outright fabrications are generally avoided by professionals who follow the strict guidelines of membership bodies like TPO.

 

The Property Selling Company is a member of The Property Ombudsman and ensures all claims about offers are truthful and verified, allowing you to make decisions based on accurate information. 

Can you ask for proof of another offer on a house in the UK?

Yes, you can ask for proof of another offer on a house. It is advisable to make this request in writing, either via post or email, to ensure you have documented evidence of your request. 

 

When you ask for proof, the estate agent must decide whether they wish to disclose the details of the offer to all parties involved. If the agent chooses to share this information, they must do so transparently and accurately with all potential buyers. 

 

Here at The Property Selling Company we value transparency and honesty. If you request proof of another offer, we will provide you with accurate and verifiable information to ensure you are fully informed throughout the process.

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How to tell if an estate agent is lying?

If you’re a house seller wondering if your estate agent is lying about offers or any other aspect of your house sale, there are a number of steps you can take to protect yourself:

Request written proof of any offers. This can be as simple as asking the estate agent to email you the details of the offer. You can also ask for a solicitor to verify and sign off on the offer’s authenticity.

 

If the estate agent is reluctant, ask specific questions about the offer, such as the buyer’s financing status, the proposed completion date and any contingencies. Genuine offers will usually have detailed and consistent information. 

 

But, if the estate agent outright refuses, it’s likely that the offer is fabricated.

 

While you sell your house via The Property Selling Company, we will make sure that any offer is handled transparently and efficiently, so you can trust the process without the need for constant verification.

Insist on full disclosure about all offers received. This includes knowing the exact terms and conditions of each offer. Keep all communications in writing, whether through email or formal letters. This creates a paper trail that can be useful if disputes arise. 

 

Transparency is one of our core values, which is why we take pride in ensuring all communications and offer details are clearly and promptly shared with you, making the selling process straightforward and honest.

Check online reviews on Trustpilot or Google, and testimonials about the estate agent. Look for patterns of complaints or praise that might indicate their reliability. If possible, talk to other clients who have worked with the estate agent. They can provide insights into the estate agent’s honesty and professionalism. 

 

Choosing The Property Selling Company means relying on a service with a strong reputation for integrity and positive client feedback, ensuring your experience is trustworthy and reliable.

Try to be present for viewings and interactions between your estate agent and potential buyers. This allows you to observe the estate agent’s behaviour and gauge the level of interest directly. Request feedback from viewers yourself and if your agent claims high interest, see if this matches the feedback you receive.

Estate agents aren’t limited to just lying about offers, here are some other common lies they may tell a seller, so you know what to look out for:

One lie you may hear is that your house is very popular, leading to numerous viewings. In reality the estate agent may be booking viewings back-to-back to create an illusion of high demand. They may even ask their friends to view your house and act interested to make it seem like your house has lots of interest.

To get you on their books in the first place, an estate agent may overvalue your house, especially if they know they’re competing against other estate agents. This can result in your house sitting on the market with little interest, eventually forcing you to lower the house price. Always do your own research and get multiple valuations. 

 

We provide realistic and competitive house valuations to help you achieve a timely and successful house sale, avoiding the issues surrounding overpricing.

An estate agent might claim their in-house mortgage advisor will offer the best deals, without disclosing that they receive a financial incentive for steering you towards their advisor. Always get the advice of a mortgage broker to ensure you get the best deal.

 

The Property Selling Company focuses solely on selling your home, without any hidden agendas or financial incentives, ensuring that your best interests are always our priority.

New estate agents might exaggerate their experience to gain your trust. If you find out they’ve lied about their expertise, it’s best to find a new estate agent as their integrity is questionable. 

 

Our team at The Property Selling Company is composed of experienced professionals of estate agents and property consultants, who provide honest and accurate representations, and have a century of combined industry experience.

Do estate agents have to be honest?

Estate agents are required to act in the best interest of their clients and must not provide false or misleading information. This is mandated by the Estate Agents Act 1979 and enforced by professional standards set by bodies like The Property Ombudsman. While estate agents are not legally obligated to disclose every detail, they must be truthful in their communications and actions. 

 

Estate agents are also obligated to disclose any material information that can affect the seller’s decision making. This includes data on potential buyers, the actual market value of the property, or any other relevant details. They must be transparent and provide accurate information to help sellers make informed decisions.

 

Estate agents must avoid making false representations about the property. Exaggerating its features or downplaying its faults is legally unacceptable. They must provide truthful and accurate descriptions in all communications and advertisements. 

 

Agents often come into possession of confidential information about sellers, such as reasons for selling, financial conditions or future plans. It is their legal duty to ensure this information remains private and not disclose any material information without the seller’s explicit consent.

 

Estate agents must put the seller’s interests first, avoiding any potential conflicts of interest. If representing both the buyer and the seller (dual agency), estate agents must disclose this fact to both parties and ensure transparent, fair dealings. 

 

We wouldn’t have been in business for over six years if we weren’t an honest estate agent. We make sure that we follow The Property Ombudsman’s code of conduct, and we take pride in making sure that you have a positive experience with us. 

 

Our process has been built to protect the rights of house sellers, and to protect the amount of profit and speed we can achieve for you. 

How to outsmart an estate agent?

An estate agent is less likely to ‘pull a fast one’ on a seller since technically they are working for you and their fee will be paid from the sale of your home. However, they may still prioritise their own interests, so be aware of common tricks and know how to deal with the tricks of the trade:

Be proactive and show that you are informed, willing to do your own research, and stay involved throughout the sale process, this can deter dishonest behaviour. 

 

You should try and ensure you and your estate agent have the same priorities, whether it’s getting the best price or selling quickly (with us you can do both). Communicate clearly and choose an estate agent who understands and supports your goals. 

 

At The Property Selling Company, we align our goals with yours, whether it’s securing the best price or achieving a quick sale (or both), ensuring a collaborative and transparent process.

Watch out for fee quotes without VAT. Fees must be shown inclusive of VAT (currently at 20%). Confirm the fee quoted includes VAT to avoid surprises later. 

 

We offer clear and transparent fee structures, inclusive of all charges, so you know exactly what to expect without any hidden costs – we cover all the house selling costs so you don’t have to.

Ask detailed questions about the actions the estate agent has taken to promote your house and be present for all viewings if possible.

 

One issue some homeowners meet is estate agents suggesting extra advertising at an additional cost if your house isn’t selling. Question why they haven’t already done everything to market your home and whether the extra cost is refundable if no offers come in. 

 

We offer a full estate agency service, which covers a comprehensive marketing strategy, meaning you won’t have to pay a penny when it comes to selling your home.

Check out the estate agents online reviews to gauge the reputation of your estate agent. If the estate agent says they are a member of a regulatory organisation like The Property Ombudsman or the National Association of Estate Agents, check on the bodies website, as they have a verified list. You can also speak to others who have used the same estate agent to learn about their experiences.

 

Our reputation for integrity and excellence is reflected in our positive reviews and memberships in The Property Ombudsman, providing you with peace of mind.

You will need to check the tie-in period in your contract. Four to twelve weeks is standard, anything longer can be unnecessary. Try and negotiate shorter terms if needed and remember you can renew the service if you’re satisfied with the estate agent.

If you remain concerned about an estate agent’s actions, contact The Property Ombudsman for further investigation. If dishonesty persists, consider moving to a different service provider. 

 

Choosing The Property Selling Company means you’re working with a team committed to transparency and honest practices, minimising the need for escalation and ensuring a smooth and trustworthy selling process.

We will cover all your selling fees
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Where can you find an honest estate agent?

If you are looking for an ethical and honest estate agent, there are several steps you can take to ensure you find the right one. One of the first things you can do is use Google Maps to search for estate agents in your local area. 

 

Google Maps will provide you with a list of nearby estate agents, and you can easily access their profiles to read reviews. When reading reviews, it’s important to check not only the 5-star reviews but also the 1 and 2 star reviews to identify any recurring issues. 

 

Pay attention to comments about communication, reliability and overall service quality. Red flags to watch out for include frequent complaints about poor communication or accusations of dishonesty, as well as a perfect 5 star rating.

 

Once you have identified some potential estate agents with positive reviews, it is important to evaluate their overall ratings. Aim for estate agents with average ratings between 4 and 4.9 stars. 

 

This range usually indicates a reliable service and shows that the estate agent has managed to resolve issues professionally when they arose. Consistently high ratings, coupled with occasional constructive feedback, can be a good sign of a trustworthy estate agent. 

 

After narrowing down your options based on reviews and ratings, the next step is to check if the estate agents are members of The Property Ombudsman. Membership with The Property Ombudsman indicates that the estate agent follows a strict code of conduct and provides a redress mechanism if any issues arise.

 

This membership is a significant indicator of an estate agent’s commitment to ethical practices and makes sure your rights as a seller are protected. Knowing that an estate agent follows The Property Ombudsman’s standards can give you added peace of mind. 

 

It’s also important to consider the costs associated with selling your house via a local estate agent. Typically, selling with a local estate agent can involve substantial expenses. You might spend upwards of 16 weeks on the market, incur commissions up to 3% +VAT, and pay around £1,500 in solicitor fees. These costs can add up quickly so it’s important to factor them into your decision making process. 

 

As an alternative, you might consider selling with The Property Selling Company, which offers a more seamless and cost-effective process. We can help you sell your house fast in as little as 28 days and aim to achieve 95%+ of your market value. 

 

One of the key benefits of working with us is that we cover all your associated selling costs, including legal fees, making the process far more affordable. Additionally, we are members of The Property Ombudsman, and we follow high ethical standards.

 

With over six years of experience, a century of combined experience and hundreds of positive reviews, The Property Selling Company is part of one of the largest house-selling solutions in the UK, providing a reliable alternative to traditional estate agents.

Sell to an honest estate agent
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Frequently Asked Estate Agent Questions

Estate agents are legally and ethically bound to provide accurate information about offers. Exaggerating offers can be considered misleading and is a violation of professional standards. 

 

However, while estate agents are supposed to act in the best interests of their clients, some might still exaggerate interest or the competitiveness of the market to prompt quicker decisions. It’s important to request written proof of offers to ensure transparency.

No, estate agents are not allowed to lie about offers. While it might not be strictly illegal in every instance it is certainly unethical and can violate professional codes of conduct. 

 

Estate agents who are members of professional bodies such as The Property Ombudsman must follow a strict code of conduct. This code requires honest and transparent dealing with clients, including truthful representation of offers.

 

The Property Ombudsman and similar organisations regulate estate agents and enforce these ethical standards. If an estate agent is found to be lying about offers, they can face disciplinary actions from these bodies, including warnings, fines or expulsion.

When dealing with estate agents, avoid disclosing your maximum budget, reasons for selling (such as financial difficulties), or your urgency to sell. Revealing too much can weaken your negotiating position. Keep discussions focused on the house and its value rather than your personal circumstances.

Yes, you can ask an estate agent about offers made on a house. While they may not provide exact details due to confidentiality agreements, they can give you a general idea about the level of interest and competitiveness. However, always request written verification to ensure this information is accurate.

Estate agents might undervalue properties to secure a quick house sale, especially if they have a high volume of listings and want to turn houses over quickly. This practice benefits the estate agent by earning commission faster but can significantly disadvantage the seller. It’s advisable to get multiple house valuations and conduct independent research to understand your property’s true market value.

Yes, estate agents are required to inform you about any offers on your home promptly. They must present all offers fairly and without delay, making sure you have all the necessary information to make an informed decision.

When handling multiple offers, an estate agent should maintain transparency and fairness. They should present all offers to the seller without bias and provide clear information about each other’s terms. The estate agent should not favour any particular offer unless instructed by the seller and must keep all parties informed throughout the process.

Yes, you can escape an estate agent contract but it depends on the terms outlined in the agreement. Most contracts have a tie-in period, usually between four and twelve weeks. If you are unhappy with the service, you should check the contract for any termination clauses and potentially negotiate an early exit. Always read the contract thoroughly before signing to understand your obligations and rights.

A phantom house offer is a fictitious offer made up by an estate agent to create a sense of urgency or competition among potential buyers. This unethical practice is intended to pressure buyers into making higher offers or quick decisions. If you suspect a phantom offer, ask for written proof and consult with other buyers or professionals.

The frequency of chasing your estate agent depends on the activity in the market and the stage of your sale. Generally, checking in once a week is reasonable. However, during critical times, such as when offers are being made or contracts are being exchanged, you might need to contact them more frequently. Open communication is key to ensuring you’re kept informed throughout the process.

Buyers can ask for the exact amounts of other offers, but estate agents are not obligated to disclose this information due to confidentiality and professional standards. Estate agents can provide general information about the level of interest and competitiveness but should maintain the confidentiality of individual offers.

Phantom bids, or fabricated offers, are considered unethical and are not common practice among honest estate agents. However, they can occur in competitive markets. If you suspect phantom offers, request written verification of offers and consider seeking advice from regulatory bodies like The Property Ombudsman.

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Taking a house off the market cause it won’t sell: Yes or no?

Taking a house off the market

Taking a house off the market because it won’t sell

Is it a good idea or not? Well, why not sell with us instead? We can…

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

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Taking a house off the market because it won’t sell

Is it a good idea or not? Well, why not sell with us instead? We can…

Sell your house in 28 days

WRITTEN BY: Tom Condon ★ Digital Content Writer

arrow

Table of Contents

Deciding to take your house off the market can be a challenging and emotional decision, especially when it seems like no potential buyers are showing interest. The process of selling a home is not just a financial transaction but an emotional journey that can leave homeowners feeling stressed and frustrated when things don’t go as planned.

 

When a house sits on the market for an extended period of time without any offers, it can lead to the homeowner feeling exhausted. Luckily, it’s actually relatively easy to take your house off the market, which allows you to readjust or completely overhaul your selling strategy. 

 

Key takeaways:

  • Taking your house off the market can reset its market perception, allowing you time for repairs or waiting for better conditions to improve sale prospects.
  • Reassess your selling strategies, including price, condition, and agent performance, to enhance market appeal and increase the likelihood of a successful sale.
  • Modern estate agents, like The Property Selling Company, offer flexible, free options and can help you sell your house far faster than traditional agents.

Should I take my house off the market?

Selling your home is often an emotionally charged process. When a house lingers on the market without any bites, it can cause you significant stress and frustration.

 

The emotional toll can include feelings of rejection and disappointment, as each passing day without an offer can make you question the value and appeal of your home. Moreover, the constant need to keep the house in show-ready condition adds to the ongoing stress. 

 

Financially, the costs can be even more severe. The costs of maintaining a property including mortgage payments, property taxes, utilities, and upkeep – continue to mount. For homeowners who have already moved out or who are managing two mortgages, these costs can become overwhelming.

 

Additionally, if you are looking to buy a new home, the delay in selling the current home can disrupt these plans, potentially leading to missed opportunities or higher costs in the new purchase. 

 

If you are thinking about switching your estate agent, using a modern estate agent like The Property Selling Company can help streamline your house selling process. Making it easier to attract buyers quickly through our digital marketing and broader online visibility, reducing the emotional and financial toll of a prolonged sale.

We can help you sell, no matter the market

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How easy is it to take my house off the market?

Deciding to take your house off the market is entirely within your rights and can be fairly easy. If you change your mind about selling, or if you want to reassess your marketing strategy, as long as you do it before any contracts are exchanged, you can withdraw your house from the market without significant consequences. 

 

Your estate agent or solicitor might express dissatisfaction or charge a withdrawal fee, but this is usually the extent of their recourse.

 

Although potential buyers may be disappointed, they have no legal grounds for complaint if contracts have not been exchanged. This flexibility can be particularly beneficial if you need to reassess your selling strategy, address any issues with your house, or wait for more favourable market conditions.

 

If, when you take your house off the market, you decide to switch agents, using a modern online estate agent can further simplify this process. These estate agents often provide greater flexibility for listing and delisting your home, allowing you to manage your sale with less hassle and more control.

 

Additionally, if you sold your house with The Property Selling Company, you would face no legal or marketing fees, as we cover these for you. So although you may have fees from your last estate agents, you won’t face any when you sell your house with us. 

How do you take your house off the market?

Taking your house off the market is generally fairly straightforward, but it’s important that you communicate effectively with your estate agent and fulfil any contractual obligations. Here is a step by step guide on how to take your house off the market:

1. Review your contract:

 

Carefully review your contract with your estate agent to understand any terms and conditions related to withdrawing your property from the market. Look for clauses about fixed contract periods, withdrawal fees, or notice periods.

 

Determine if there are any obligations or penalties for taking your house off the market early. This could include early termination fees or non-refundable marketing costs. 

2. Communicate with your estate agent:

 

You will need to provide a written notice to your estate agent, informing them of your decision to take your house off the market. This can be done via email or a formal letter.

 

It can be helpful to explain your reasons for withdrawing your property, whether it’s due to market conditions, personal circumstances, or dissatisfaction with the estate agent’s performance. 

3. Confirm withdrawal fees:

 

Ask your estate agent to clarify any fees associated with taking your house off the market.

 

Ensure you understand the total cost and any additional charges that may apply.

 

In some cases, you might be able to negotiate a reduction in withdrawal fees, especially if you plan to relist with the same estate agent in the future. 

 

4. Update listings:

 

Ensure that all online listings of your property are removed. This includes property portals like Rightmove and Zoopla, the estate agent’s website, any online email marketing lists, and any other platforms where your house is advertised. 

 

Double-check that your house has been removed from all listings to avoid confusion or continued inquiries from potential buyers.

 

5. Inform potential buyers:

 

If there are any interested buyers who have viewed your property or made inquiries, inform them through your estate agent that the property is no longer on the market. 

 

Providing a brief reason for the withdrawal can help maintain a positive relationship with potential buyers for future opportunities. 

 

6. Plan your next steps:

 

Take the time to reassess market conditions and determine the best time to relist your house if you plan to sell in the future. Consider making any necessary repairs or updates to your house to increase its marketability when you decide to relist.

 

If you were dissatisfied with your previous estate agent, consider consulting with other professionals, like The Property Selling Company, to find one that better suits your needs.

 

7. Use a modern estate agent:

 

Modern estate agents provide more flexibility and transparent contract terms, often with lower withdrawal fees, making it less costly to take your house off the market. However, with The Property Selling Company, you likely won’t need to worry about withdrawing your listing, as we can help your house sell in as little as 28 days.

Sell your house in as little as 28 days, for free

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Why should a house be taken off the market?

If your home isn’t selling, taking your house off the market is an option, but it should not be a decision made lightly. There are a few situations where this might be beneficial:

If your home has been on the market for over three months with little to no interest, it might be time to rethink your listing. Prospective buyers may think something is wrong with the property, making it less likely to achieve the full asking price. Removing your house and re-listing it at a later date might actually help your sale.

 

A modern estate agent like The Property Selling Company can provide you with real-time market analytics and data-driven insights, helping you re-list your home at the best time to attract serious buyers quickly.

If buyers have been concerned by major structural work, you have two main options; reduce the price substantially or complete the work yourself. Structural issues are common reasons for house sales falling through, so taking your house off the market to address these issues could be wise. 

 

Here at The Property Sourcing Company, we have a multitude of pre-vetted buyers, some of which are cash buyers and investors looking to renovate homes themselves. This means that you could sell the house “as-is”, without having to renovate yourself.

If your house sale is stagnating, it might be sensible to adjust your asking price. Most enquiries and viewings take place in the first few weeks of a listing, so starting with a realistic asking price is key. Compare with similar listings in your neighbourhood and consult with your estate agent on the appropriate price for your property.

With advanced pricing tools and a team of underwriting experts, our estate agents can help you set a competitive and attractive price right from the start, increasing the chances of a quicker sale.

If you’re unhappy with your estate agent due to poor listings, communication or professionalism, it might be time to search for new representation. Make sure you have discussed your concerns with your estate agent first, but if issues persist, switching estate agents could be beneficial.

 

Because we are part of one of the UK’s leading house selling solutions, we put great pride into dealing with our customers, which is why you should experience better communication, and easier processes.

If there are more homes on the market than interested buyers, you could be in a buyer’s market. It might be worth pausing your sale and relisting when conditions are more favourable. Pay attention to larger market factors, as these can significantly impact the amount of property transactions completed.

If your house is not comparable to others at a similar price point, you may need to update important areas like the kitchen or bathroom. Taking your house off the market can give you the time and space to make improvements. Consult with your estate agent about feedback from viewings and what buyers are looking for in your area.

 

Alternatively, you can sell your home as-is through our database of pre-vetted buyers who can buy your house with cash, bridge finance or pre-approved mortgages, in much faster timelines than traditional buyers.

What market conditions might influence your decisions?

Market conditions can significantly influence the decision to take your house off the market. One important factor is whether you are in a buyer’s or seller’s market. In a buyer’s market,