Estate agentsare a really important part of the buying and selling process so you need to make sure you know what to look out of for. Below are some of the things we look out for when advising our clients about using and choosing their estate agent. We've also put together a checklist of questions you should ask an estate agent before instructing them to sell your home.
Never instruct an agent simply because they give you the highest valuation. It's the oldest trick in the book to over value a property to win an instruction.
Never instruct an agent simply because they offer you the cheapest fee. If an agent offers to beat all the other agents fees without even trying to justify their own fee, it doesn't say much about their ability to justify or negotiate the best price for your home.
Research your agents thoroughly. Don't assume the name above the door guarantees the quality of the staff behind them. Check online for references and online ratings
Check their fees. The good old days of "No Sale - No Fees" are fast disappearing - Many agents are charging up front fees to put your property on the market and administration fees if you take your property off the market as well as charging their standard commissions on completion. Make sure you know exactly what your agent is charging before signing with them.
Check their contract restrictions. Beware of "Sole Selling Rights" contracts, as these can be confused with "Sole Agency" contracts. They are designed to stop you from being able to sell your property privately.
Check their contract length. Beware of contracts which tie you to an agent for too long. Some agents contracts not only sign you up for a 12 week sole agency period, they then go on to tie you in for a further 8 week notice period, locking you in to their contract for 24 weeks. 6 months is a long time to be tied to an agent especially if you are fed up with them after two weeks... And it does happen... quite a lot!!!
Check what their fees include. Make sure your agent provides you with a written marketing plan outlining exactly how often and where they will advertise your home during their instructed agency period. In addition make sure they offer you a written service charter outlining all the services they will provide (i.e accompanied viewings, guaranteed 24 hour call back, etc) and what penalties they will incur if they do not stick to this charter or whether they will let you out of their contract if they fail to deliver the service charter or marketing plan promised.
Beware of "In House" services. It is common practice for many agents to earn referral fees for recommending solicitors, mortgages, EPC providers etc. That i n itself is not a problem, just make sure you look around for yourself to see who's offering the best individual deals.
Don't fall for the "let's keep everything under one roof ploy"
It could quite literally cost you hundreds, if not thousands of pounds.
Ask them to demonstrate a viewing. At the end of their presentation, a really good idea is to ask the agent to do a mock viewing of your home with you as the buyer so you can see for yourself how they will present your home. It's incredible how many agents are next to useless when doing accompanied viewings.
Don't fall for the "Guaranteed Buyer" ploy. If an agent is insistent they have a guaranteed buyer for your home, do not take this as a reason to sign their contract. If anything, allow them to do a one off viewing on your property with that particular buyer and request a discounted fee because they will not have to advertise.
Quick Links to Local People Who Can Help.
For more information or help on this subject why speak to your local How to Sell a House specialist
Click "Next" to view the questions you should ask an agent before instructing them to sell your home or "Previous" to view the different types of estate agent.
