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Wednesday 17 September 2014
Wednesday 17 September 2014
Wednesday 17 September 2014
Wednesday 17 September 2014
Dealing with estate agents can feel overwhelming, especially when they provide conflicting advice. Choosing the right agent to sell your property is crucial and requires careful consideration. Here’s a guide to help you navigate the process.
Research Before Meeting Estate Agents
Before inviting agents to value your property, do your homework. Visit websites like Zoopla, Rightmove, and NetHousePrices to see what similar properties in your area have actually sold for. This will give you a clear idea of your property’s realistic market value, helping you engage in informed discussions with agents.
Compare Fees and Negotiate
Estate agent fees typically range from under 1% to over 2% of the final sale price, potentially amounting to thousands of pounds. Contact several agents to understand their rates and don’t hesitate to negotiate. Use fee variations as a bargaining tool to secure a rate you’re comfortable with.
Be Cautious with VAT-Free Offers
While a VAT-free fee may seem appealing, investigate why the agent isn’t charging VAT. It could indicate they are a new or small-scale business, which might not necessarily be a problem, but it’s worth considering. Alternatively, a VAT-free policy could mean the agency isn’t meeting the VAT threshold, possibly reflecting a lower success rate in selling properties.
Avoid Overpriced Valuations
Beware of agents who provide a valuation significantly higher than your research or other agents suggest. Some agents inflate valuations to tempt vendors, tying them into lengthy contracts before advising a price drop to a more realistic level. If an agent claims they can secure a much higher price, offer them a short contract of two to three weeks to prove their claim. If they refuse, it may indicate a lack of confidence in their own valuation.
Understand Fixed Fees
Percentage-based fees are generally more effective than fixed fees. With fixed fees, some agents overvalue properties and base their fee on the inflated figure. If your property sells for less than the valuation, you may still end up paying a disproportionately high fee. Ensure the fee is tied to the actual sale price to align the agent’s incentives with your interests.
Accept Constructive Feedback
A professional estate agent will be honest about what can improve your property’s appeal. Suggestions such as tidying up, mowing the lawn, or redecorating a room demonstrate their commitment to selling your home for the best possible price. Be open to their advice—it’s part of the service you’re paying for.
First Impressions Matter
Estate agents are salespeople, and their demeanour can influence buyers’ perceptions of your property. Choose an agent who is professional, personable, and understands your needs. If you find them approachable, chances are potential buyers will too.
Need Help Choosing an Estate Agent?
We have extensive experience dealing with estate agents and can recommend trusted professionals. Feel free to reach out to us for tailored advice.
By following these tips, you can select an agent who is affordable, professional, and best suited to help you achieve a successful property sale.
Dealing with estate agents can feel overwhelming, especially when they provide conflicting advice. Choosing the right agent to sell your property is crucial and requires careful consideration. Here’s a guide to help you navigate the process.
Research Before Meeting Estate Agents
Before inviting agents to value your property, do your homework. Visit websites like Zoopla, Rightmove, and NetHousePrices to see what similar properties in your area have actually sold for. This will give you a clear idea of your property’s realistic market value, helping you engage in informed discussions with agents.
Compare Fees and Negotiate
Estate agent fees typically range from under 1% to over 2% of the final sale price, potentially amounting to thousands of pounds. Contact several agents to understand their rates and don’t hesitate to negotiate. Use fee variations as a bargaining tool to secure a rate you’re comfortable with.
Be Cautious with VAT-Free Offers
While a VAT-free fee may seem appealing, investigate why the agent isn’t charging VAT. It could indicate they are a new or small-scale business, which might not necessarily be a problem, but it’s worth considering. Alternatively, a VAT-free policy could mean the agency isn’t meeting the VAT threshold, possibly reflecting a lower success rate in selling properties.
Avoid Overpriced Valuations
Beware of agents who provide a valuation significantly higher than your research or other agents suggest. Some agents inflate valuations to tempt vendors, tying them into lengthy contracts before advising a price drop to a more realistic level. If an agent claims they can secure a much higher price, offer them a short contract of two to three weeks to prove their claim. If they refuse, it may indicate a lack of confidence in their own valuation.
Understand Fixed Fees
Percentage-based fees are generally more effective than fixed fees. With fixed fees, some agents overvalue properties and base their fee on the inflated figure. If your property sells for less than the valuation, you may still end up paying a disproportionately high fee. Ensure the fee is tied to the actual sale price to align the agent’s incentives with your interests.
Accept Constructive Feedback
A professional estate agent will be honest about what can improve your property’s appeal. Suggestions such as tidying up, mowing the lawn, or redecorating a room demonstrate their commitment to selling your home for the best possible price. Be open to their advice—it’s part of the service you’re paying for.
First Impressions Matter
Estate agents are salespeople, and their demeanour can influence buyers’ perceptions of your property. Choose an agent who is professional, personable, and understands your needs. If you find them approachable, chances are potential buyers will too.
Need Help Choosing an Estate Agent?
We have extensive experience dealing with estate agents and can recommend trusted professionals. Feel free to reach out to us for tailored advice.
By following these tips, you can select an agent who is affordable, professional, and best suited to help you achieve a successful property sale.
