How do I choose the best estate agent?
Finding the best estate agent to sell your property involves thorough research. It's easy to be tempted by low fees and promises of quick sales, but selecting the right agent requires careful consideration. Here's a comprehensive guide to choosing the best estate agents in your local area.
What Qualities Should I Look for in an Estate Agent?
The best estate agents are committed to getting the highest price for your property. They should have a substantial list of potential buyers, market properties effectively, and possess a deep understanding of the local Top Tips for Choosing the Best Estate Agent
Top Tips for Choosing the Best Estate Agent
Find the Agent Selling Properties Similar to Yours
While it may seem counterintuitive, choosing an agent with many similar properties to yours means they have experience and a pool of interested buyers. Ensure they have a branch near your property or where you intend to buy.
Get Recommendations
Word of mouth is invaluable. Ask friends and family about their experiences with local estate agents. Personal recommendations can provide insights into which agents to consider and which to avoid.
Read Online Reviews
Searching for "estate agents in [your local area]" on Google or other search engines will yield numerous results. Pay attention to client feedback and reviews. Don’t just focus on the average star rating; consider the number of reviews as well. A high rating with many reviews indicates a reliable and possibly the best estate agent in the area.
Check Industry Credentials
Reputable estate agents should be members of the Property Ombudsman Scheme. They may also belong to trade bodies such as the Guild of Property Professionals, the National Association of Estate Agents, or the Royal Institution of Chartered Surveyors. Membership of these organizations often requires adherence to a code of conduct, which can give you additional peace of mind.
Ask Plenty of Questions
You need to be sure you can trust estate agents with your property sale, so it’s totally acceptable to give them a grilling. In fact they might expect it!. Key questions to ask include:
- What are the commission charges for sole and multiple agency?
- What is the tie-in period?
- How will the property be advertised?
- Who will conduct viewings, and will these take place during evenings and weekends?
Invite at Least Three Agents to Value Your Property
Invite three agents to conduct a valuation. This not only gives you a broader view of your property's market value but also allows you to assess the agents' personalities and professionalism. The highest valuation isn't always the best; sometimes, an agent who seems more honest and trustworthy is a better choice.
Choose Between Sole and Multiple Agency
You don't have to settle on just one estate agent. A sole agency agreement, where one agent has exclusive rights to earn commission, is the most popular. Multiple agency agreements involve instructing more than one agent to maximize your chances of finding a buyer but come at a higher cost.
Negotiate on Fees
While getting more for your money is important, negotiating a lower commission fee doesn't always equate to the best estate agent. Having multiple agents compete for your business can drive down fees or shorten the tie-in period. However, be cautious; an agent who quickly agrees to a reduced fee might be struggling for business.
Read the Terms of Your Agreement Thoroughly
Ensure you read the text of your agreement with your agent carefully. Trust your instincts, but also verify that there are no hidden clauses in the small print.
Check for Hidden Extras
Look out for the length of the exclusivity or tie-in period in your agreement. Make sure there are no additional fees or hidden extras and that the quoted fee includes VAT.
Monitor Your Agent’s Performance
If your house isn't selling, ask why. Evaluate whether the estate agent is fulfilling their promises. Some red flags to look out for include unreturned calls, fewer viewings, or pressure to lower the asking price.
Should I Use an Online Estate Agent?
Online estate agents can offer lower fees, but these are usually fixed and non-negotiable, regardless of whether the property sells. They often charge extra for services like photography or hosted viewings and may restrict your choice of legal services to specific conveyancing companies. Research shows that only about 5% of property sales are made through online agents.
Is It a Good Idea to Change Estate Agents?
If your once enthusiastic agent becomes less communicative and viewings dwindle, it might be time to switch. Choosing which estate agent is best can take time, and changing agents is sometimes necessary.
Choosing the Best Agent – Time to Decide
After conducting thorough research, seeking recommendations, reading online reviews, obtaining valuations, and asking the right questions, it's time to select the best local estate agent for your needs.
Felicity J. Lord: your local property experts
Many homeowners have chosen Felicity J. Lord as the best local estate agent in London. We combine excellent knowledge of the local property market with professional expertise, ensuring you receive the best possible service when selling your property. Contact your local Felicity J. Lord branch today.
