Choosing your Estate Agent
Nikki Ackerley - Property Correspondent
Finding the right estate agent is crucial if you want to sell your house for the best price and in the shortest time. A property that stays on the market for a long time can give the impression that there is either something wrong with it or that it is overpriced. Any delays selling your own home can mean you miss out on your next dream home because someone else is in a better position to move quickly.
When choosing your estate agent there is naturally a great temptation to opt for the one who gives the highest valuation. If you do decide to go this route then make sure you’ve asked a few pertinent questions and ask yourself some too!
- Although you hope to avoid any problems, choose an agent who is a member of the Ombudsman for Estate Agents (OEA) scheme. Set up in January 1998, it provides dissatisfied buyers and sellers with access to an independent complaints review procedure. Membership is not compulsory and only one in four firms have signed up to the scheme - are they not proud and confident of the service they provide?
- Do you know anyone else who has used them - what did they think. What is their local reputation.
- Do you see a lot of their For Sale boards around? This indicates that they are a popular choice.
What is their shop presentation like? Are photographs clear and well presented. Are the property details well written and clear? Is the rate of turnover good or are the same photos in the window week after week? - Do the staff live locally and do they know the area well.
- Attitude - are they helpful, pro-active and enthusiastic?
- Ask your agent to justify the price they have given. Ask them to show you examples of similar houses that have achieved that figure.
If agents are offering discount commission fees, ask them how much advertising they are prepared to give your property. If agents are significantly reducing their fees they have to cut their costs somewhere. - Be wary about signing long selling contracts. Most agents will try to get you to sign a sole agency contract and will ask you to commit to them for three months. This is fine if you know they will do a good job. If you choose the wrong agent though, then three months is a long time to wait before you can appoint another - otherwise you may be liable to two sets of fees! It’s often better to negotiate a shorter period. Some agents are so confident of the service they provide that they ask you to commit only to giving them two weeks notice of your intention to sack them, any time after you instruct. This way you hold all the cards and stay in control.
- Look out for other reputable signs such as the RICS, ISVA or NAEA.
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