Whether you are buying or selling property, choosing an estate agent is a vital part of the process. Below are some tips on what you should look for in your estate agent.
Remember He or She Works for You
You have no reason to accept an offer under pressure because you are in a strong position. The agent does not get paid if the property is not bought or sold. You hold all the aces so you should take decisions in your own interest.
Selecting a Multiple or Sole Agent
You can choose a multiple agency agreement if you like. In this case, your property is placed with any agent you prefer.
Make a Shortlist
It makes sense to shortlist your agents first. This way, you have a few candidates who are likely to tick all the right boxes. You can now invite the shortlisted candidates to do a valuation.
Get a Personal Recommendation
A personal recommendation is an excellent idea because it will save time and help you get the right candidate. Get information on terms and conditions as well as the standard commission rate of the agent you want to deal with in advance. Authentic information from reliable sources is always an asset.
Do Not be Misled by the Valuations
If your agent gives you any valuations, you should ask for proof. This is because some agents have a habit of providing inflated valuations to trick you. Always ask for evidence and you will not fall for this trick.
How Much Do They Cost?
For most agents, the standard fee is 0.75-3.0% plus VAT. You should bargain with your agent and try to get a fee of 1% plus VAT.
How Will Your Property Be Marketed?
You should ask questions here and find out exactly what the marketing will entail. Find out if you will be required to pay additional marketing fees. In addition, you should find out if your agent will place your property in the local newspaper or national magazines.
Terms and Conditions
It pays to find out if your agents will insist on “sole selling rights”. This condition means that even if you are the one who finds the buyer, the agent will still get paid. You can only take this route for a limited time for obvious reasons. If you are not happy with the results, you should exercise your freedom of choice and change the terms.
If you want more information on what to look for in an estate agent, just log on to https://jeremy-james.co.uk/.