If you’re thinking about selling a property, one of your first steps will be to consider whether you want an estate to handle the sale for you.
Whether you’re planning to trust an online service or an agent in your local area, choosing the right selling service can help you to find a seller, negotiate the best price, and conclude the sale with minimal stress.
With so many estate agents out there, it can be difficult to know which one to choose. So, it’s important you do your research to ensure you pick the right one for you. To help you, here are 10 tips to choosing an estate agent.
1. Research the estate agents in your area
Your first step should be to research the estate agents in your local area. You can do this by looking online, checking the local newspapers, or simply by walking around your neighbourhood and looking for estate agent signs.
It can pay to check online reviews or to ask friends and family for recommendations.
2. Check your chosen agent’s credentials
Once you’ve drawn up a shortlist, you should check the credentials of the agents you are considering.
For example, many agents will be signed up to a redress scheme, such as The Property Ombudsman Service. Others may also be members of trade bodies – such as the National Association of Estate Agents (NAEA) or the Royal Institution of Chartered Surveyors (RICS). Choosing such an agent means you’ll work with a firm that has to comply with a code of conduct and ethics.
You should be able to find details on the agent’s website.
3. Meet with agents
Once you have identified the firm (or firms) you think would be right for you, it’s time to meet them in person.
Arrange a meeting or a phone call and ask them questions about:
- Their experience in selling homes like yours
- Their marketing strategy – how will they promote your property?
- Whether they have a database of people looking to buy a property like yours.
Meeting the agent will give you an idea of their professionalism, their communication skills, and their willingness to help you. You’ll also get a gut feel as to whether they are a firm you want to work with.
4. Consider the estate agent’s marketing strategy
A good estate agent will have a strong marketing strategy to attract potential buyers interested in your property.
Ask the estate agent how they plan to market your property. They should have a strong online presence, be active on social media, and have a database of potential buyers looking for homes like yours.
5. Check their track record
Ask the estate agent about their recent sales or purchases and check their track record. One of the key things to ask is whether the agent has experience of selling properties like yours.
You could also ask for references or testimonials from previous clients. This will give you an idea of their success rate and their ability to negotiate deals.
6. Look for good rapport
It’s important to choose an estate agent who you feel comfortable with and who you can trust. Look for an agent who is professional, communicative, and responsive.
The agent should listen to your needs and concerns and be able to offer you guidance and support throughout the process.
One way to test this is to put yourself in the shoes of a potential buyer and ring the agent at a busy time of day. You will learn a lot from the speed your call is answered and the professionalism of the person who handles your call.
7. Check their local knowledge
A good estate agent should have excellent local knowledge of the area where you are selling.
They should know about local schools, transport links, and amenities, and be able to provide sellers interested in your property with valuable insights and advice.
8. Ask about their communication channels
Effective communication is key when working with an estate agent.
Ask the estate agent how they prefer to communicate with their clients, whether it’s by phone, email, or in person. They should be responsive and keep you regularly updated throughout the process.
9. Compare fees and charges
Estate agents typically charge a commission fee for their services. While some now charge a flat fee, many charge a percentage of the sale or purchase price.
The commission rates can vary, so it’s important to compare fees and charges before choosing an estate agent. Make sure you understand what services are included in the commission fee and if there are any additional charges, such as advertising, photography, or conveyancing fees.
Under a “sole agency” agreement, the agent will have the exclusive right to market your home for a fixed period. Most people start out with this option and the charge is usually between 1% and 2%.
You could also consider a “joint agency” agreement, where you choose more than one firm to help you sell. While your property may get more exposure, the fee may well be closer to 3%.
While a flat fee may initially sound favourable, percentage fees can incentivise agents to secure the best possible price for your property. This can be a win-win – you benefit from a higher sale price and the agent earns a higher commission.
10. Trust your instincts
Finally, trust your instincts when choosing an estate agent. If something doesn’t feel right or if you have any doubts, it’s best to look for another agent.
Selling a property can be a stressful time, so it’s important to pick an agent who will support you through the process, keeping you updated and having your best interests at heart.
Get in touch
If you’re planning to move home and need mortgage advice for a new property, we can help. Please get in touch by email at info@alturafin.com or call us on +44 (0) 20 3411 0079.
