How to Choose the Best Estate Agent for You!

How to Choose the Best Estate Agent for You!

You’re looking to buy a house, and you want to choose the best estate agent for the job. You’ve done the research online, but now you need to find someone in your area. So what do you do? Of course, you might pick the first one that pops up on Google or Yelp, but this is not always the best choice. Choosing an estate agent can make all of the difference for your home buying experience. So many factors go into finding a good fit for yourself as well as your needs when it comes to estate agents- here are some tips on choosing an estate agent that’s right for you!

What makes a good estate agent?

Different types of estate agents

Prepare Some Questions To Ask Your Estate Agents

Narrow Your Search

Valuations

Different Types Of Contracts

Negotiate

Conclusion

What makes a good estate agent?

Prospective Buyers?

When you sell a property, you want to make sure it is shown to the right buyers. Many estate agents will have a list of people who are actively on the property hunt. Some agents will pre-qualify potential buyers before they allow them to view a property. Doing this gets rid of time wasters and people who may not even be able to afford your property.

Finding an estate agent who knows exactly what they are doing is a must; you only want the best possible buyers across your doorstep.

Marketing

Any estate agent can upload your property to Rightmove, but only a good estate agent will market your property correctly. You want professional pictures or videography to show off your property in the best possible light. Some agents will print colour brochures of your property, and others leverage social media to get your property in front of as many potential buyers as possible. How an agent market your property can mean the difference between selling fast and for the best possible price.

Awards

Checking to see if an agent has any awards can indicate how well they perform overall. For example, if they have won awards for their marketing, this is a good sign that the estate agents have invested in developing their digital presence and house selling processes. It can also mean that they are very experienced and knowledgeable about how best to market your property online.

Research Your Agents

When choosing an Estate agent, it will pay you to do your research. You will want to ask friends and family if they have estate agents that they can recommend or if any of them had a bad experience with an estate agent, this way, you know who to steer clear from!

You can also find out how long they have been running their agency or whether they are just starting up. This could give you an idea of how trustworthy and if they are a successful agency.

A good agent will be able to answer your questions and more. You will want to interview several agents and then aim to narrow down your list to at least three agents to choose from, with the ultimate goal of being left with just one estate agent.

Different Types Of Estate Agents | Which Is The Best Estate Agent

Different Types Of Estate Agents | Which Is The Best Estate Agent

There are multiple estate agents types to consider when choosing an estate agent. Below we have listed a few for your consideration.

Local Estate Agents

Local agents have the advantage of knowing the local market very well. They are familiar with the neighbourhood and know about schools and transport links. They should also have a well-rounded knowledge of sold house prices in your area, which will help them better value your property and market it at the right asking price.

Compare local estate agents. You want to determine who is the best estate agent for you. They will have different estate agent fees and lists of potential buyers. You can check stats and see which agents are selling property like yours.

National Estate Agents

The advantages of using a national estate agent are many. Their high profile and ability to offer advice on what seems like every property up for grabs in the country is not one you’ll find with local agents. Still, it could be critical if your goal involves buying or renting out properties throughout various regions across England.

A large part of this model’s success stems from representing clients at all stages, whether they’re buyers looking specifically within one area (like Birmingham) or sellers wanting representation nationwide.

Make sure to check their fees and do your homework; I know some national estate agents who aim to charge upwards of 3.5%.

Online Estate Agents

Hybrid or online agencies are a relatively new breed of real estate professionals. Still, they offer an advantage to those who want it: The potential savings from an online agent are usually more significant than the traditional high street agents.

High street agencies charge on average between 1% – 2%, whereas you can market your property through many online agents for free or at low costs, with some offering as little as £1000! Furthermore, not having significant overhead expenses such as offices space in traditional ways allows the company more room to pass along its benefits, namely lower prices than their offline competitors.

The disadvantage is they will not the local area and will not have that personal touch offered by local high street agents. They are not as bothered about the selling price of your property as they usually work on a fixed fee.

High Street Estate Agent

The high street estate agent is the backbone of real-estate marketing in any town or city and can be referred to as the traditional agent. These professionals use a combination of both online and offline techniques, such as contacting potential buyers directly from their store windows with signs advertising properties for sale while also putting up local newspaper ads across neighbourhoods within that area they serve – this will give them more exposure than if just one type were used alone!

However, it’s important to note that these people only work within a small “catchment” region because it needs an accurate valuation before offering property advice (which helps you sell your home quickly).

Prepare Some Questions To Ask Your Estate Agents

Prepare Some Questions To Ask Your Estate Agents

Prepare some questions and monitor the agent’s responses; this will give you a pretty good idea of whether they are experts in their field or not. It will also allow you to see whether you gell with them or friendly people and seem honest, it will make the estate agent you choose much more effortless.

You should also talk to your local estate agents as well; use it almost like an interview. Think of some questions you would like to ask them,

Estate Agent Fees, what do they charge?

Which agent has the best price?

How many properties have they sold at the agreed selling price?

What type of contracts do they offer, multiple agency arrangements, sole agency contract, sole agency tie in what estate agents charge for what contact?

What are the fees involved, and are there any hidden costs?

What’s their track record like?

What type of estate agency are they online estate agents, or are they traditional (local estate agent-based)?

How many properties do they sell for the asking price?

Is there one that has more prospective buyers than the others?

How many viewings do they get on average per property?

Do they offer financial services?

Can they recommend chartered surveyors?

Which property portals do they advertise on?

What is their sales process, and how does it work?

Estate Agent’s Performance – Who is selling the most properties, and how do they advertise properties.

Are they members of the royal institution / national association of estate agents and covered by the property ombudsman?

Visit your shortlisted estate agents as potential buyers. You will get an excellent idea about how you feel about them. It will help guide you to make an informed decision to contact the very best estate agent for your needs.

Go with your gut feeling and choose 3 Estate Agents.

Narrow Your Search

Now it’s time to narrow your search down even more.

Reviews

Checking to see what an agent’s reviews are like will give you a good idea about their reputation. Then, go onto Google and type estate agents names + reviews.

Read through the reviews and see what people are saying. If they have poor reviews, ask yourself if you want to work with them on your journey through selling your property? If they have a lot of bad reviews, then it’s probably worth steering clear. But, on the other hand, they may have a lot of excellent reviews and may put your mind at ease.

Valuations

When you sell your house, the first thing you should do is get a property valuation.

Most agents will offer a free property valuation in the hope of winning your instruction. With anything, it is always best to shop around and get a few valuations for comparison. Agents will vary slightly but generally should come up with a figure around the same ballpark. You need to make sure you are happy with the valuation and that it reflects the actual value of your property.

Beware Of Overvaluations

Some estate agents have been known to overvalue your property to win you over. They do this in the hope you sign with them, only to reduce you in the coming weeks as you have had little interest in your home. Deliberately optimistic valuations are counterproductive for all parties involved. Your house will become stagnant on the property market, and you will become more and more frustrated with the situation.

Pricing your property right the first time around will hopefully ensure a quick sale for the right price.

Different Types Of Contracts

Most agents operate on a no sale, no fee contract; these will keep the agents motivated as they will not get paid until they have sold your property.

Different Types Of Contracts

Beware Of Hidden Fees

Make sure you know the pros and cons of this contract before signing. Ask if there are any additional fees, such as marketing or penalties for exiting early! These terms should be agreed upon in writing ahead so that no surprises come up later on down the line.

If anything is unclear, ask them directly – we’re here 24/7 waiting to serve our customers needs.

Fixed Fee | Percentage Fee

Some estate agents prefer working on a fixed fee commission basis. The advantage of this is that they know exactly how much you’ll be paying for their services; the downside, however, can sometimes lead to some lousy apple brokers who might not have your best interests at heart and want as high an amount from any sale regardless if it’s suitable or not!

To avoid these kinds of scenarios, try agreeing ahead of time about what fees will become involved in higher purchase prices. Hence, nobody gets too far gone without being made whole again later down the road when things go better than expected.

The average estate agent fee in the UK is anywhere from 1% to 1.5% from a high street estate agent, with online agents usually charging slightly less.

Tie-in periods

You should always check if your estate agent includes a tie in the period before signing on. Of course, you may not get along or become unhappy with their service, and that’s okay – make sure you’re able to terminate without penalty!

Always be sure to check the terms of any agency contract. You’ll find that there are a few different types, and you should know what they all mean if possible! For example, some agents require upfront payments while others allow for them later on; others will have shorter or longer lock-in periods than four weeks, with 12 being most common – so do your research before signing anything.

Sole Agent Agreement

If your contract is a sole agency agreement, this means exclusive selling rights to that agency, and you must think carefully before signing. A sole agency contract means the estate agent would sell their client’s home during a fixed period. They are not allowed any interference from other interested agents or buyers in competition with them while trying to make sales happen as quickly as possible!

Multi-agency Arrangement

In a multi-agency contract, you can use as many agents as you like and only pay commission to the one who sells your property. A multi-agency arrangement means Your property will be marketed by more than one agent and to buyers, with the hope of selling quicker and receiving higher offers – but there is usually a higher cost for their service in addition to fees associated with using this approach depending upon what type of properties are being sold.

Negotiate

Negotiate

Regardless of which contract you choose, it would be best if you tried to negotiate the best possible fee. You want to make sure you get the best possible deal possible as this will determine how much money you will pay overall.

Top Tips Before You Sign

Before signing an estate agent contract, conduct a thorough review and ensure that you understand all of the terms. Below we have some top tips before you sign,

Examine your commission rates – they should be comparable to what you and the agent have agreed/agreed upon, as well as being on the approved final sale price.

Make sure to clarify whether or not VAT is included in the charge.

You should also be aware that sole selling rights can lead to an estate agent getting a commission even if you find the buyer yourself. This does not sound like fair trade, so it’s best to avoid these types of contracts when possible!

You must be aware of any additional charges or withdrawal fees associated with this product before purchasing. In addition, it would help if you were also sure to ask about commission, which may apply and depend on the company’s policy regarding its representatives’ commissions resulting from their sales success.

Make sure you’ve read the contract carefully and understand all terms. Write down any agreements that are not clear, so there’s no chance of overlooking them in haste. Maintaining good communication with your realtor is essential to ensure both parties get what they want out of this transaction!

The estate agent’s job is to value your property at the right asking price and ultimately sell your property for the best price possible. Choosing the right estate agent for your needs can be a time-consuming and challenging process but will be well worth it in the long run.

There are many considerations to make, such as fees and contracts, not to mention hours at the end of internet research! So contact us today if you’re tired of wasting time figuring out how to find an estate agent that will work with you instead of against you. Our team is here just waiting for your call so we can help guide you through this daunting task in no time at all! We hope this blog post has helped answer some questions about choosing the right estate agent – if it hasn’t, or if there’s anything else our experts could do for you, please don’t hesitate to reach out.

See our previous blog post here: Choosing the right Estate Agent in Coventry