At times such as these, when the property market is not particularly buoyant, it can be hard to achieve a speedy sale for a reasonable price, so, when you are considering selling your home, one of the first and most important things that you need to consider is the appointment of the right estate agent to market the property for you.
Most people look first for the agents that charge the lowest amount of commission on the sale and/or those that propose the highest selling price. However, this is not necessarily the best way of going about things and, as this article will demonstrate, there are several other important considerations to take into account before appointing your estate agent.
Do Your Research
The most important step in choosing between competing estate agents is to carry out some research before making a decision. There are various matters that you should ask the agent to clarify in order to assist you in deciding whether to appoint them or not.
In no particular order, the following issues should be raised.
• The agent should be asked whether they have recently sold any properties that are similar to your own, how much they originally marketed them for and what was the ultimate selling price. This information will help you to determine how realistically the agent sets his initial asking prices.
• You should also ask how many times these similar properties were viewed and what length of time elapsed before a sale was achieved.
• Most estate agents maintain a list of prospective buyers and you should ask whether there are any who have expressed an interest in buying a property of the same type and in the same location as your own.
• How much would the agent market your property for initially? What would the agent reasonably expect your property to be sold for? What price would the agent suggest the property be marketed at in order to achieve what might be termed a “quick sale”?
• Who, in the agency, would be responsible for arranging and attending viewings and would it be the same person throughout?
• How will the agent market the property? Will they use newspaper advertising? If so, how frequently will your property appear in the press and which particular newspapers and/or local magazines will they use? Will internet advertising be employed and, if so, on which websites will the property be featured? Will the advertising fees be charged to you separately or will they be covered by the agent’s commission charges?
• What will be the amount of the commission and when will it become payable? Is there any room for negotiation on the commission rate, particularly if there is a quick sale?
Carry out some research before deciding on your estate agent
Pay a Visit
A further useful tip regarding the appointment of an estate agent is to pay a visit to a few of them in the guise of a buyer. Ask whether they have any properties similar to yours on their books. Gauge how well they know their portfolio of properties and how helpful they are in responding to your queries. You will also be able to assess the friendliness of the staff and the professionalism of the operation of the office. It can be extremely helpful to ask yourself whether you, as a potential buyer, would have been impressed by the service that you received from a particular estate agent.
One final consideration, before opting for a particular agent, is whether you would prefer more than one to market the property in conjunction with each other. Many estate agents do collaborate in this way, subject to whatever fee sharing arrangement they may have with one another, and some sellers consider that it gives them a better chance of selling their home within a reasonable period and for an acceptable price.
Whilst there can be no guarantee that following these tips in appointing an estate agent will result in the sale that you want, it will, at the very least, result in the sale process being a less stressful experience, where you are able to enjoy a professional relationship with your carefully selected agent.
Author Bio. This article was written by Billy Phillips, former lawyer, who is now a regular contributor to blogs and sites related to real estate, the building industry and finance. This article was written on behalf of McCarthy & Co Estate Agents, Torquay, whose website can be found here www.mccarthyestates.com