Wednesday, 9 July 2014

Choosing the right Estate Agent

Choosing the right estate agent is about more than who can offer you the highest priced valuation. A good estate agent will be able to get you the market value or above for your property, at a fair rate within a reasonable amount of time. You want to find an agent you are confident will handle all aspects of you property sale - so take time and do your research. As experienced Southampton estate agents working all over the South of England, we’ve come up with the following tips on how to pick the best estate agent for your needs.

There are now multiple ways to sell your property; using a traditional estate agent, online estate agent or acting as a private seller are the three most conventional methods in the UK. There are also fast house sale websites for urgent sellers and some people even sell property on websites like gumtree. There are pros and cons to selling through each of these options and for every different vendor, there may be a particular route that stands out.

Of course, estate agency services come at a cost, and although finding an agency with the lowest fees may be high on your priorities, cost is just one consideration. It may in fact benefit you more in the long run if you choose an agency with slightly higher costs that you are confident can handle all aspects of your house sale professionally and efficiently. 

Agents who charge lower costs may not cover all aspects of your property sale. Do your research; discover which agencies have experience selling properties similar to yours as they are more likely to have a large pool of potential buyers looking in your area. Speak to people you know to find out if they have used an agency they’d recommend. It’s worth asking, as you may discover a hidden gem you wouldn’t have found otherwise.

Once you’ve narrowed down your choice to a few agents, a tip coined by UK property investor, Samantha Collett is to call the agencies on your list, acting as a prospective buyer looking for a property. Not only will you get an idea of the agent’s knowledge, competence and the efficiency and professionalism of the firm itself, but you will also witness first-hand the way they will communicate with your future buyer.
Most high-street agents charge around 1%-2.5%, dependent on the contract you choose. Where online estate agents differ is that they offer alternative contracts and charge a fixed, up front sum as opposed to a percentage of the selling price. It is definitely something to consider, especially with the wide range of packages available. Online agents can often afford to charge lower fees because they don’t have large offices filled with employees and bills to pay for, although, this usually means that you have to at least conduct the viewings yourself.

The same questions apply to online estate agents; you want to know that they’re reliable and they have a high success rate of selling properties similar to yours. Here are a few questions you should consider asking you’re a prospective agency before putting your house on the market:

1.       How many properties like mine have you sold? What did they sell for?
2.       How long did it take to sell the properties and how many viewings were conducted?
3.       How many buyers are currently looking for properties like mine?
4.       What price would you market my property for? What price would you value my home for a ‘quick sale’?
5.       Can I have a copy of the agency's contract?

Also, it is beneficial if your chosen agent is either a member of Property Ombudsman, Ombudsman Services, or the National Association of Estate Agents (NAEA) – this confirms their credibility and gives customers the opportunity to register a complaint should the need arise.

For more advice on how to sell your property, please contact us on: 0844 809 9931. Additionally, find out how much your property could be worth using our instant online valuation tool.


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