Estate Agents



Do I have to use an Estate Agent?
The simple answer is no, you don’t. However, the role and skill of an Estate Agent is often underestimated. You may hear a few stories about problems people have had with estate agents, but what you don’t hear about are the hundreds of successful, quick and easy sales they do make.

What do they do?
  • Measure the rooms
  • Draw up your property’s details
  • Help you determine the properties market value
  • Help your property reach the widest possible market
  • Negotiate the best possible price and terms for the client
  • Arrange viewings
  • Conduct viewings
Although there is a lot of bad press about the charges made by Estate Agents in the UK, there rates are normally lower than that of mainland Europe. The level of attention and service is of a very high standard.

How much will it cost me?
The majority of estate agents take a percentage of the price as there fee; this is normally around 1.5 – 4%. It tends to be higher in London than else where. It is payable upon completion.

How do they value my property?
Estate agents do not charge for valuations, therefore it is a good idea to get as many as you can. A minimum amount of valuations will be about three, with this amount you should get a good idea of the market price for your property. The valuation is normally based on these things:

Significant work/improvements on your property, e.g. a loft conversion, a conservatory added, extra bathroom added etc.

The current popularity of your area and its facilities/services, e.g. shops, schools, public transport.

Demand, if there is a high demand for property in your area, or property with the same features as yours.

Current asking price of similar properties in your area, and prices that properties have recent been sold at in your area.

How many should I use?
In this case it isn’t the more the merrier, as more estate agencies will mean more cost to you. It also depends on the type of property you have, for instance, if you have a country home, it may be worth advertising in London for example, and so using 2 estate agents could be a good idea. Normally, and more than likely, you will just need the one estate agent, maybe with a few offices in and around your area. Obviously if you go down the ‘joint agents’ route there is more chance of your property selling quicker than the ‘sole agents’ route.

Which one(s) should I choose?
Always going with the cheapest estate agents is normally a mistake, for instance, a good estate agency that is more likely to sell your home will have larger overheads, such as a well maintained property, efficient computer systems, well trained and experience staff.

Don’t always go with the one that gives the highest valuation of your home, you may end up pricing your self out of the market, try and aim for middle/upper middle of the valuations you have been given.

Look for an estate agent who have polite and friendly staff who know about the area, and have attractive displays in the windows, picture yourself as the buyer, would it attract you to look for a house? Look for ones that have plenty of boards in the area, and have quite a few sales racked up, and a decent amount of marketing, flyers and newspapers etc.

Speeding up the sale
Arrange with your solicitor to collect the documents required when you put your house on the market. If you leave it until you have a buyer it will take longer, as the solicitor needs to request and receive the title deeds to your property from banks/building society

Be flexible about viewings; if possible, provide your estate agents with keys so they may conduct viewings when you’re at work or away. Also be flexible about last minute viewings.

Be prepared to accept offers on the asking price or just under.

Don’t show your want to sell the property quick, if they sense your desperation, they may reduce there offer at the last minute to take advantage. Try to hold your ground. If they have paid for a survey, it is very unlikely they will pull out at all.

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