Property: Be bold - you can sell it yourself

FOR MANY of us there are two major purchases in our lives, a home and a car. Some pay more for the latter than others do for the former, both are professionally valued, and both can cause considerable aggravation. But when we sell our cars, as often as not a private advertisement does the trick. Why, when we want to sell our homes, do we feel compelled to tread the well-worn path down the high street to the estate agent?

When Fiona Woodhouse and her husband were expecting their first child they lived in a less than desirable area of East London. A leaflet, dropped through the door by a young family two streets away, desperately needing a larger house but having to stay close to the childminder, resulted in "probably one of the quickest and smoothest, not to mention friendliest, house sales in history," says Fiona.

Despite the area, the street itself was attractive. The house was a large Victorian semi, typical of many inner-city areas. And being, in the couple's own words, part of the yuppie fraternity, the interior was spot on. The couple had tentatively looked elsewhere and they both agreed, "being approached by a potential buyer gave us the push we needed. And what's more we not only saved over pounds 2,000 commission but we also got a fabulous price."

The house was valued by an estate agent, on a "free valuation, no obligation" service, now standard practice. But because the buyers were so keen they paid pounds 10,000 more - so much for agent expertise.

In today's climate many properties will sell themselves. And that, in fact, has always been the case. If the price is right there will be a buyer. Starter homes, small flats (purpose-built or converted), the Victorian terrace and the Barratt home all have their appeal.

More than 40 per cent of movers stay within 20 miles of their previous home and a high percentage of these move within a few streets, as was the case with the Woodhouses' buyers. These buyers will look in the local press. But private advertisers do not have to stick to the small ads: a boxed picture advertisement may cost more but some estate agents will also charge extra for such advertising.

However, one of the cheapest and most effective ways of advertising is DIY. A professionally-made For Sale board, costing around pounds 50, instantly attracts attention, not least from the neighbours who may not be able to resist phoning you to find out how much their house is worth. Local buyers will all have their eyes peeled.

One golden rule: always take a telephone number and address for any interested parties and call back back to arrange a viewing, as a safeguard against those whose motives for seeing inside your home may be questionable.

Once you attract interest, you then have to sift the gold from the dross, but you have the chance to build a relationship with a buyer which can be beneficial to both sides. You are more likely to strike trouble with someone you have never met.

Or are you? Nick Warner, of Savills in Henley, disagrees. "In a private sale, when push comes to shove and the buyer has to part with the money, he is in a very strong renegotiating position if there is no competition, whereas in today's market an estate agent is likely to have other buyers waiting in the wings."

So this is where the agent is useful: not in simply selling the property, but by bargaining and bluffing to achieve the best price. As Gordon Blausten of Bruton & Company points out: "Many people are frightened of talking about money and pushing for more." So if you are going it alone, stick that British reserve where it belongs and get greedy.

The National Association of Estate Agents(NAEA) says the real choice is not between selling privately or via an estate agent, but between a good agent and a bad one. "The choice of agent can affect every area of the house-purchase procedure, with disastrous consequences. Housebuyers take great care choosing their mortgage lender, insurance company, solicitor and so on. They should be equally diligent in seeking an estate agent," says Hugh Dunsmore-Hardy, association chief executive.

Surprisingly, many prospective buyers don't check the credentials of estate agents. Of course, how one does this is anyone's guess.