Estate Agency Fees – Things You Should Know Before Instructing an Estate Agent

There is no doubt that if an Estate agents thinks they can get away with charging a horrendous commission they will – but only if you let them!

When it comes to selling your home – your biggest possession – you need to make sure that you are getting the best from your agent. best registered agent services

How to find the best estate agent in your area:

To begin with, always get valuations from at least 3 estate agents. These should include:

An Independent smaller agent, who tends to be more flexible and has a slightly higher calibre of agents, tends to deal on a more personal level.

A large chain estate agent, who tends to be fairly rigid on figures but can offer marketing from several other branches to give wider marketing of your property.

When it comes to fees, please remember: they want your business, so negotiating is the key.

The things that you should ask a potential agent are:

Do they advertise in the local newspapers on a regular basis – If so, is it a colour ad and how often would your property be advertised.
Do they have their properties on property websites i.e. http://www.rightmove.co.uk & http://www.globrix.com and do they include full details of their properties.
Is there office in a good location, with good window displays?
Are their details produced in colour, with internal and external photos?
How many buyers do they have registered that are looking for your type of property and in your price bracket.
Do they have comparable properties to show you to back up their valuation?
Do they provide an opportunity for all of their sales staff to view your property to familiarise themselves with the property that they will be selling – how can you sell a property to its full potential if you haven’t seen it?
How often they make contact with their Vendors with updates on viewings, marketing and generally to keep in regular contact with you – after all a Vendor who is ignored will not be a happy one and could potentially find alternative agents.
Always find out about their agency agreements – there are a lot of agents out there that want to ‘tie you in’ to a 12 week agreement. This is generally the case for the large chain estate agents; the independents do not generally have a tie in period. All they usually require is 2 weeks written notice. It is always preferable not to be tied in – look at it this way, if an agent is good at what they do then they won’t have to tie you in to give them 12 weeks to sell it!
Also, go with your instincts – if you feel that a particular agent would promote your property better than the others then that could be the one to go for.
Instructing your agent / negotiating estate agents fees
When you have chosen an agent that you think would represent your house in the best possible way to achieve a sale, you need to be firm about the commission. If you say to the agent that you have narrowed it down to two agents, both with the same services that you believe would enable them to sell your house, but the only difference is the commission. You should then go onto say that unfortunately the decision on whom to instruct will be down to who can offer the best fee. Sole Agency (where only the one agent is instructed) fees can be anything up to 2.5% or a fixed fee. There should be no reason why you cannot negotiate to below 1%. Be firm and stand your ground!

There are many agents out there and trying to find the time to contact them to arrange viewings, valuations etc can be quite time consuming – the thought of Estate Agent trawling fills me with dread! So, I thought that I might try and find some help this time. The Internet is the answer! I have found a company called Estate Agency Fees Direct that can do just that. I was slightly dubious at first as I have always done things myself but I filled in the form and was very impressed with the service that I received.

The service that they offer is very comprehensive. Not only do they provide the local Agents with all the information necessary to value your property, they also start the negotiation process for you. All you need to do is to complete the simple form, advising when you intend to market, whether you have already found a suitable property to purchase, your preferred Estate Agency fees, your own thoughts on the value of your property and how you would like them to contact you – therefore avoiding the awkward hard sell situation. It allows you to be in control from the outset. All of this information is then sent directly to the agents at the same time, allowing you to sit back and wait to see which one is most ‘on the ball’! It just takes a click of a button – trust me it’s easy!