Estate agents make around £3 billion a year in fees. It's an incredible amount but can you do without a professional to help you sell your property?

Your property may be worth more than you ever hoped and if you're selling up then the chances are you could be reluctant to share your good fortune with an estate agent who does a few hours work for a hefty commission.

A number of 'virtual' online property agents have sprung up in recent years, fuelled by an increasing desire on the part of homeowners to maximise the profits from their sale. Because these websites do not have the expensive overheads of offices, they can usually undercut the traditional high street agents, perhaps by as much as 90 per cent.

The supermarket giants are getting in on the act, too. Asda's new property service charges one per cent commission on sales compared with the national average of 1.5 per cent, while Tesco recently launched a property market that charges a flat fee of £200.

But while lower prices may be hard to resist, it seems that the old fashioned pester-power and selling techniques of 'real life' estate agents are hard to beat for a fast sale. So if time is not on your side, you may want to at least combine your efforts online with traditional methods and see which works fastest.

Negotiate a good deal

When you use an estate agent, don't forget to negotiate commission - you don't have to just accept their opening offer without a discussion. Ideally, get a recommendation from a friend or neighbour. Estate agents do not need qualifications so make sure they have good local knowledge and are experienced in selling homes such as yours in the area. Always give full and clear instructions and confirm each stage in writing - keep copies.

Whatever route you choose, being ready to show your home to its best advantage is a must. Make sure that you are well-prepared to deal with buyers. Stay calm and polite, even if they appear to be time-wasters or you overhear negative comments about your home or decor. Try not to cling to viewers once you have shown them around. They may want to spend more time in one or more rooms and have discussions between themselves. Nothing is more likely to make them rush their viewing than a hovering vendor.

Honesty is the best policy

It's crucial to be honest. Don't be tempted to lie and if you don't know the answer to a question then make sure you get back to them with the information. Your potential buyers may make notes as they view the property. Once they have left, you may want to make a few notes about them and their chain so that you have a better idea of who was who when offers are made. Most importantly, stay safe and take precautions before letting strangers into your home. Have someone with you and only accept viewings which have been arranged in advance.