People choose an estate agent centered on different reasons but it is important to remember that the decision should not be solely based on the cheapest agency fees. There are numerous other factors that should be considered before making your final choice. Here are my top 10 tips to consider:
1. Get a suggestion
This may sound obvious however lots of people chose an estate agent that they drive past on the way to work which they have no prior knowledge of. If possible, get recommendations from family members, friends or colleagues who've used an estate agent in your area.
2. Check around and consider multiple agents
Friendly competition amongst estate agents is common and there's nothing wrong with that. It is essential to shop around so you can get a concept of the different fees each agent charges, their experience and their property expertise.
3. Enquire about their experiences
Always check just how much go through the estate agent has and their local knowledge of your area. Ask questions like'Have you sold properties in this area before?' 'How successful maybe you have been?' 'How many viewings do you obtain on home similar to ours?' 'What're your experiences / history of selling properties similar to ours?'
Asking these questions really does change lives and could influence your final decision on choosing the right agent for the needs. It is also important to note that getting a good customer support and creating a good rapport along with your agent can have its benefits.
4. Discover how they plan to market your property
Don't hesitate to ask an estate agent how they plan to advertise your property and through which methods. Which property portals do they use to promote on? How strong is their internet presence? Do they advertise on major sites such as for instance rightmove.co.uk or findaproperty.com? You will find out whether there will be a floor plan of your property, images or 360 degrees virtual videos.
Make sure to ask the estate agent whether they'll be conducting the viewings on your property or whether you is going to be doing them. If you're conducting the viewings yourself, discover how much spot the agent can give you. Do allow the estate agent know when you yourself have other commitments that will stop you from doing viewings during certain times / days.
5. Negotiate
Everyone can negotiate fees. Getting quotes from a few different estate agents provides you with the ability to negotiate fees to a lower fee charge. Having said this, it is important that you don't negotiate for a really low fee. This may cause insufficient motivation to the agent selling your property since they are losing commission.
6. Be cautious of valuations
It is recommended to obtain a few estate agents to value your property. Websites such as for instance zoopla.co.uk and nethouseprices.com would you provide you with a rough idea in regards to what your property is worth. Check these sites before having your property valued, in order to determine perhaps the estate agent has valued your property at a reasonable price.
Unfortunately some agents may overvalue your house to gain higher commission. Initially, this could seem like a rich prospect as you will receive additional money from the sale but, it may delay potential buyers. This may lead to you needing to dramatically drop the price tag at a later date. On another hand, your property might be undervalued in a bid to create a fast sale.
7. Are they regulated
Check perhaps the estate agents you are looking at are members of the National Association of Estate Agents (NAEA). This regulatory body requires members to strictly stick to a rule of practice. If they cannot meet these requirements, the estate agent can be given a huge fine or in worst cases, be expelled from the NAEA.
You should also check that estate agents have a manager who is qualified through the Association of Residential Letting Agents (ARLA). ARLA agents volunteer to follow along with the Code of Practice and Rules of Conduct laid down by their professional body. The agency can be included in ARLA's Client Money Protection (CMP) Scheme, if you suffer financial loss because of the bankruptcy or dishonesty of the ARLA member and/or their firm.
Discover perhaps the estate agencies you are looking at are members of The Property Ombudsman. They'd follow the code of practice for both residential sales and lettings which were approved by the Office of Fair Trading (OFT).
To summarise, consider whether you believe that the estate agency will do a good job of marketing your property. Do they encounter as trustworthy, have your absolute best interests in mind, and do you think what they're telling you.
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