Sale by Tender in Welling - and why you could be costing yourself more money than you think

If something is free, why pay for it?

If you can sell your property in Welling without any financial cost to you, that's a good thing right? Maybe not ...

What is Sale by Tender?

In short, Sale by Tender is a way of advertising and subsequently selling your property where your buyer pays the estate agent their commission (sometimes marketed as "Buyers Fees Apply"), leaving you as the vendor, to pay them nothing. Great news! £1000s saved!

But wait...

When selling your property you would want as many people as possible to be interested in viewing it, and then offering to buy it, right? How do you think "Buyers Fees Apply" is going to appear to a potential buyer? Is it going to encourage more people sniffing around your home, or less? The mis-understanding or unaffordability could put people off. If a buyer is already using every last penny saved to put the deposit down, or for potential renovations, are they going to be happy, or be able to afford, to put another few £1000s into things up front?

And what about your potential buyer that is out viewing 5-6 properties with other agents that don't use Sale by Tender. How is that buyer going to feel, or what will they think, when your approach is different and it costs them more money. Will that mean they offer to buy a house elsewhere rather than yours on account of cost?

My suggestion would be that you are likely to put people off - and who wants that?

Basic supply and demand dictates that the more people are interested in acquiring something, the higher the potential price for that item might escalate to.

So ask yourself this, would you prefer more or less competition for your sales property?  As much as possible of course! and is Sale by Tender the best way to initiate that? in my view, no.

So don't view paying an agent a fee as an avoidable cost, view it as a necessary evil if you must, that you are paying to maximise the interest in your property amongst other things, and a good agent should be able to increase the achieved price for your property by considerably more than they are likely to charge you.

And that is why paying an agent makes sense.

For news and/or guidance on anything relating to residential property in Welling and close surrounds please do not hesitate to get in touch directly on kevin@dansonpropertyservices.com

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

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