Chennai, India and London, UK -- (ReleaseWire) -- 11/02/2007 -- The owners of a luxury home with a guide price of 5 million pounds located in Essex UK have decided to sell the house themselves online. The move would potentially save the owners almost £100,000 in UK estate agents fees. The unique for sale by owner property offers some very outstanding features and is being billed as the largest home recently built in the South East of England. Homesgofast.com is advertising the millionaire mansion on behalf of the owners and reports a growing trend in luxury owners listing their homes on the internet.

The nine bedroom luxury Essex property qualifies for entry in the 2007 National House Building Council (NHBC) Builders Award and has been nominated in its category. No other new build property in the South East of England it seems can match the size, quality and design of this property which is a one off home. The home even has its own cinema room and swimming pool complex as well as extensive grounds. An indication of the size of the home is seen by the room sizes the entrance hall for example id 54 ft by 17 ft. The entire house is over 14,000 sq feet in size.

Nicholas Marr’ CEO of Homesgofast.com “selling a luxury home is now a lot harder the owners have a reduced market of buyers locally. It makes sense for them to want national and international exposure gained by advertising on the internet. We have seen a 50% increase on last years figures with homes worth a million pounds being promoted with us. One of our private sellers has said that he is using our services to get his estate agent to work harder as they now risked losing their commission with a private sale. However I think the main reason for the increase is not to save money it is the pure desire to sell their homes’

In a recent survey conducted by Alliance & Leicester Bank revealed that private home-sellers using websites to market their properties have sold their homes in an average of less than two months while those using the more conventional estate agency route were taking over three months.
8% of the 2,384 people interviewed said they had used Private Property Sale’s sites. A similar proportion had simply used word-of-mouth. Of the rest, 5% had advertised in a local paper, 4% had made their own “for sale” board and 1% had even used auction sites like eBay.

Recent changes in UK mortgage rates, the uncertainty brought on by the Northern Rock scare and the introduction of Home Information Packs appears to have buyers in the UK in a panic. UK home sellers are now reducing their prices in order to sell their properties