Q: ‘I have now decided I would like to sell my property, but what questions should I ask my Estate Agent before committing myself to one?’
A: When moving it is imperative that you pick the right estate agent.
You want an agent that is going to do your property justice and get you the best price.
Before you sign anything and enter any agreement with an estate agent there are number of important questions you should ask.
‘The first question you should ask your estate agent is whether they are a member of any ombudsman schemes.
In the UK there are no compulsorily legislative regulation schemes and hence membership to a body such as the NAEA (National Association of Estate Agents) or the OEA (Ombudsman of Estate Agents) is essential.
These types of organisations ensure their members follow strict guidelines and have comprehensive complaints measures in place.
Secondly you should find out how viewings will take place, obviously you know your property better than anyone and will want to show it off to its best potential.
Research however has shown that houses that are viewed in the presence of an estate agent do sell quicker, this is definitely worth bearing in mind.
Usually a balance of the two will maximise the viewings and increase your chances of a sale.
Ask your estate agent the prices of similar houses in the area.
Any agent worth their salt will be able to answer this question in a knowledgeable way, if they cannot, it may be time ask out another agent.
Although the answer to this question may vary greatly due to market fluctuations, its purpose is not really to gain a figure but work out the level of knowledge possessed.
Ask how your property will be marketed; websites are increasingly being used in the industry and to maximise the chance of a sale, online marketing is essential.
The older methods of local newspaper advertising are still worthwhile but finding an estate agent who is up to date with technological developments is highly important.
Also ask how our property will be presented.
Will your agent produce high quality property details along with 2D and 3D floor plans?
Also take note of the quality of their photography.
Are their images within the adverts they produce grey, overcast and poorly taken?
Look for agents who refresh the images of their property stock with light, sunny well balanced images.
Try to find out what the notice period is should you want to change your agent.
Some will require a two to four week notice period before you can make the change to another agent.
14 to 16 weeks should be allowed for the agent to sell your house unless you are utterly unhappy with the service you are receiving.
If the agent is generating viewings and your happy with the service I see no reason why you should terminate your agreement with them.
Ensure you know exactly what you will be paying the estate agent, usually it’s a percentage of the final agreed sale amount – but is this subject to a minimum fee?
Or do they charge for additional marketing material.
If your offered a special promotional rate, don’t be too suspicious, agents do offer discounts from time to time and will still offer you the same level of service and marketing had you been on the agents standard rate.
Assess the level of sales that fall through with that particular estate agent.
According to research it is estimated that eighteen per cent of sales fail to reach completion.
This is normally down to the buyers so a figure below this percentage will reveal how devoted an agent is to pursuing a sale and help progress it.
It may seem a given but asking how often your agent will keep in touch.
Selling your house can be stressful and not being able to get hold of your agent can make the process more so.
Test the water by making enquiries before the house has gone on the market, if they take their time getting back to you, you can presume they give buyers the same level of service.
Finally a vital question that needs to be answered is the time the average property takes to sell.
If properties are on the books for no time at all it may be an indication that your agent is underselling.
The opposite can be asserted if properties are on the books for extended periods of time.
By following these questions the sale of your house should be speedy and efficient.
Finding the right agent is a fundamental element of selling houses and if you want your move to go ahead swiftly!
Please continue to send your property related questions to: clive@sawyersestateagents.co.uk
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