Doorsteps is an online estate agency and is an area I have yet to explore how much money they can save you when you sell your house.
I am always looking for new and creative ideas on how to save money. So what better way to keep it than on the most valuable asset you will probably ever own – your home?
So how do you save thousands on estate agent fees on your house sale?
Today, I'm excited to introduce you to our guest, Paul, from over at Money Tips Blog.
He is an established financial expert on the cutting edge of the Fintech scene in the heart of London. He offers actionable tips for anyone wanting to save money on various household costs. His expertise on how to invest wisely offers inspiring reading for anyone navigating the current financial situation of 2019.
Paul's mission is to show that the potentially bewildering topic of fund and share buying is accessible to the average person.
Recently he has saved a fortune on estate agents' costs.
Now let's hand it over to Paul.
Young business leaders are incredible. The CEO of the company I work for is 23 years old, and my manager's manager is the same age. I've seen first-hand that age doesn't preclude you from achieving great things in business.
Doorsteps is a new challenger estate agent, capitalizing on the growing realization that estate agents have been paid a lot instead of doing relatively little for years. When I went onto their website, I saw they advertise fees starting at £99.
I couldn't quite believe it, so much so that I started to doubt the legitimacy of the business. It could be due to the website looking like it was designed in 1995.
But this guy had been featured on This Morning, and Holly Willoughby wouldn't lie to me, would she?
So I decided to give Doorsteps a try.
I opted for the £199 package over the £99 one, as it includes professional photographs and I didn't own a quality, wide-angle lens camera.
(This is not an affiliate link – there aren't any affiliate links within this post)
Within a few days, an agent came over to take the photos and we discussed price, and what I wanted to include in the ad description.
Initial Service Review
One thing worth noting is that the agent appeared to cover a large patch: she had driven up from Brighton, and my house was in South-East London, so she didn't know much about the local area. She also seemed pretty apathetic about what price I should list my property.
Putting those couple of negatives aside, when the Zoopla and Rightmove ads went up a couple of days later, I remarked that the photos she had taken were excellent.
Things to Expect
Doorsteps, like most other new estate agents, will book viewings for you. Then you have to do the viewing yourself.
In my experience, buyers book a viewing for the next day. This becomes annoying when you have to forgo social occasions because you've got a viewing to host.
Organize an “open day” for an upcoming weekend – I'd highly recommend it.
Nowadays, people aren't going to look in estate agent windows to look at houses; they're sitting on the sofa perusing Zoopla on their iPad.
Premium Listings help your ad stand out by showing more photos on the search results page, receiving 70% more page views.
Using Doorsteps, how much did I save?
So including these ad upgrades, I spent £350 with Doorsteps, and I completed my house sale in just over three months.
To be transparent, I sold my two-bed terrace for £271,000. For comparison, let's look at how that stacks up against two traditional estate agents and one online agent.
House Sale – 2 Bed Terrace
- London North West East Anglia
- (Darwen, Lancs) (Norwich)
- £271,000 £95,000 £180,000
- Traditional Agents
- £8,130 £2850 £5,400
- (3% fee)
- Farrell & Heyworth
- (1% fee) £2710 £950 £1800
- Internet Based Agents
- Purple Bricks £ 899 £899 £899
- (fixed fee)
- Doorsteps £350 £350 £350
If I considered, for example, Foxton's realtor fees as opposed to Doorsteps.
Savings £7,780 £2500 £5,050
But how can Doorsteps be so cheap?
Now you may wonder how Doorsteps can operate as a business with cheap prices charged for selling realty.
Upon listing my property with them, I was pretty hard sold on what they describe as an “in-house conveyancing service.”
They boast that clients complete their sale faster since Doorsteps act as both the agent and the solicitor.
Elated that I had been able to sell my house and pay such a small fee, I decided to go with Doorsteps' conveyancing, which turned out to be a mistake.
Pay a bit more for a conveyancer you know will deliver
The “in-house service” turned out to be, in fact, a partnership with one PCS Legal.
PCS was painfully slow and poor at communicating, which proved to be a bottleneck in the process once I accepted an offer.
Other than that, Doorsteps were a delight to deal with – I couldn't recommend them more. If you're putting your property on the market soon, why not give them a try?
Have you saved masses of cash on estate agents' fees?
Or have you got any questions you would like to ask Paul?
Feel free to comment below.
More about Paul
Check out Paul's blog here. I particularly like his post on ‘How to Invest in 2019.'
This is my identified area of finance to learn more about, in conjunction with Dave Ramsey‘s Baby Steps plan (invest step). The information and links were highly user-friendly and easy to access for a beginner.