Selling your flat online has become increasingly popular in recent years.
Lots of homeowners are using online estate agencies to sell a flat.
Some even handle everything themselves without the help of an estate agent.
We’ve given an overview of the steps involved when you sell a flat online.
There’s also guidance on the advantages and drawbacks of taking this route.
Keep reading for everything you need to know.
Can I sell my flat online?
Yes, you can sell your flat online. This can be done through an online estate agency or by yourself.
Online estate agency
Online estate agencies will facilitate an online sale of your flat.
This is usually in return for a flat fee, as they often don’t take a commission on the sale of your flat.
Only online routes will be used to achieve this. Steps involved might include:
- Listing the flat on Rightmove and Zoopla
- Advertising the flat online
- Hosting virtual viewings.
These organisations often have a database of property investors that they can contact. Although the agents themselves won’t necessarily be based in your area, they can find buyers who are.
Selling by yourself
You can also sell your flat online without an estate agent. This involves doing all the steps above by yourself.
It is time-consuming and usually involves some costs. You also might not have a database of people to contact, meaning finding suitable buyers can be more difficult.
How to sell my flat with an online estate agency
When you sell your flat with an online estate agency, the first step is to value your property.
This is often done without anyone visiting your property in person, in what is often referred to as desk research.
To achieve this, the critical details about your flat will be established. This includes:
- Number of rooms
- Types of rooms
- Square footage
- Proximity to local amenities.
And more.
Your flat will also be compared to others in the area. The online estate agency will contact you with their valuation, and it’s up to you whether you proceed.
From this point onwards, the online estate agency can handle the rest. You might take on parts of the selling process if you wish.
Otherwise, they will contact their database of buyers and list your flat on Rightmove and Zoopla.
The online estate agency might schedule floor plans and photos.
You will be contacted once the estate agency receives some offers. It’s up to you whether you accept these.
How to sell my flat online by myself
You can do most of the steps above without an online estate agency. Most experts recommend having an experienced professional in your corner, though.
You should take photos of your flat and get the square footage calculated.
These are essential details that almost all online buyers will want. You’ll need to decide on the best asking price to list it for. Do your research and see what similar properties are listed for.
You should then put your flat on Rightmove and Zoopla.
You can host virtual viewings with people who enquire. You can also advertise the flat online (with social media or online ads).
Once you receive an offer, you must negotiate and decide whether to accept. It might be worth exploring other selling options if you don’t receive a suitable offern.
Why sell my flat online?
Selling your flat online usually has fewer costs. Online estate agencies don’t take a commission on your sale like regular estate agents do.
You’ll also have greater control over the selling process. You can take certain aspects on yourself if you wish.
This might include marketing, taking photos of the flat, or negotiating on price.
Things to consider when selling my flat online
Ensure you have the time necessary to dedicate towards the flat sale. You usually need to do more by yourself when selling online.
You should also consider whether you need the support of a high street estate agent. You won’t have this when selling online.
It can be more difficult to judge whether a buyer deserves your consideration.
You should consider backup options if your flat doesn’t sell fast enough. More on this below.
What should I do if my flat isn’t selling?
You should be prepared to explore all your options when selling a flat. If selling it online isn’t working, maybe you need to try something different.
The problem might lie in your marketing methods. Or your online estate agent is inefficient at contacting pre-qualified leads (if they have any at all).
Some online estate agents have a cash buying facility as well. You might choose to use this if you’re on a tight schedule. It’s another way to sidestep losing commission on your sale.
It’s best to surround yourself with independent parties who can advise you on the best route forwards. There are plenty of ways to sell your flat, so align your needs with the match option.