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How should you choose an estate agent to sell your property? Here is a handy guide from MoneyFacts.co.uk to give you an idea.
1. Ask for recommendations
This may seem an obvious place to start, but ask friends, family members and colleagues who have recently moved which estate agents they used and what they thought of them.
Also, look in your local area at the "for sale" and "sold" signs; it's a useful indicator of the agents that work well in your area.
2. Check industry credentials
Estate agents are required to be members of The Property Ombudsman Scheme which allows for complaints against them to be independently investigated.
Many estate agents will also be members of trade bodies. Membership means that they have to comply with a code of conduct, which may indicate a higher level of professionalism and diligence. Trade bodies to look out for are:
- Guild of Property Professionals
- National Association of Estate Agents (NAEA)
- Royal Institution of Chartered Surveyors (RICS).
You should be able to research this without having to set foot in an estate agent's branch. Members of these schemes will be shouting about it on their websites.
3. Go undercover
Visit your shortlisted estate agents as a potential buyer looking for a property like your home. Pay attention to how they behave and ask yourself two questions:
- Would you be happy if the property being described was yours?
- Would you buy a property from them?
4. Invite at least three agents to value your property
Shortlist your agents, but don't shorten too much. Try to get at least three to come and value your property.
When your property is valued it's important not to be too impressed by the agent that values your property the highest – this could be a ploy to win your business.
Ideally, you need an agent who is going to be honest and fair, not one who is going to overvalue your property and then fail to get a buyer at that price
5. Ask these questions:
- How much does the agent charge for sole agency and what is the tie-in period? Sole agency is where one agent has the exclusive right to sell your property for a set period. If your property is sold by another agent in this time you will still have to pay the sole agent their fee, as well as the agent who actually sold it. As a rule, fees for sole agency can range between 0.75% and 2.5% of the sale price, with a tie-in period of up to eight weeks. ( Williams Estate Agents do not tie our sellers in)
- How much does the agent charge for multi-agency? A multi-agency arrangement means several agents will have your property on their books, with the successful agency being granted the fee. Generally speaking, this fee will be in the region of 1% and 3.5% of the sale price.
- How long has the agent been established and what is their experience? A well-established agent that has experience selling properties in the immediate vicinity of your home is preferable.
- How will your property be advertised? Will it appear in the local paper? On a property website such as Rightmove? Is the agency able to show examples of how they advertise properties?
- Who will look after viewings? Will the estate agent be present at all viewings? Check as to whether they will be available during evenings and weekends.
6. Decide between sole and multi-agency, then haggle
Sole agency is cheaper, but the net isn't cast as wide and there may be less chance of a quick sale. Multi-agency costs more, but means that your property will get more exposure, which increases the prospect of a quick sale.
You may decide to start out with a sole agency, moving to multi-agency at the end of the tie-in period. Or you may decide to jump straight in with multi-agency.
Whichever you choose, now is the time to haggle. If one agent is more expensive than the others, see if you can get their price down.
7. Review your agent's performance
After a few weeks for multi-agency, or towards the end of the tie-in period for sole agency, evaluate your estate agent's performance.
- How many viewings have you had? Who from? How did they go?
- Has the agent been marketing the property and working as hard as you expect?
Also ask for feedback from the agent. If you've not had viewings, or have had viewings but no offers, the agent can give insight. It could be you're priced too high, or that there's an area of the property that could be spruced up to encourage a sale.
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- It is always difficult to claim a competitor is misleading people without sounding like its sour grapes. Williams recently found a great unbiased website to prove something that industry insiders have known for a while.
It basically says that although onliners focus on the cheap fee. They neglect to inform customers of the risks involved if your house doesnt sell quickly, and also the real cost of selling your house cheaply due to negotiating the sale yourself.
If you are thinking of selling your property. Please do have a read of this first.
https://www.theadvisory.co.uk/estate-agents/online-vs-high-street/#anchor-3-sub-1
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“If you chase two rabbits, you will catch neither one.” Russian Proverb
Why we stopped lettings, to concentrate on selling houses.
Although Williams was created in 2004 we didn’t start offering lettings until 2008. Many people couldn’t sell their houses due to the great credit crunch, and so we helped them move on, by renting out their properties.
Compared to selling property, lettings is a more secure business. Its what investors would look for in any business. A Repeatable income where, as long as you don’t do anything silly and offer a poor service, you can guarantee your income every year.
So what is the problem with that?
Well, apart from the income, there is very little upside to running a lettings business. It certainly isn’t fun!
Even though it accounted for over 30% of our income, it took 90% of our time up! Even on holiday we were calling banks to see why a landlord hadn’t received his rent . (often to find out 3 hours later, the money was in and just hadn’t cleared.)
All this time taken up doing tasks for other people, felt like it was taking away our main focus. The focus of why we set up Williams in the first place. To be the best ‘SELLING’ agent.
So after 5 years of letting property for many great landlords and tenants we decided to take the bold step of selling property 100% of the time.
Within a few months we were back to selling more property, quickly and concentrating on what we did best.
We as a team are more dedicated to providing a superb service for our buyers and sellers then ever.
We sell more property because we can focus on 1 thing. Instead of inspecting a leaky tap for a rental property, we spend out time helping buyers find a suitable property.
The stats don’t lie either. When we make just 5 extra calls a day and generate just 2 more viewings, this equates to around 400 viewings a year. At present we sell a property every 10 viewings.
On those stats we can make a staggering, extra 40 sales a year for our happy buyers and sellers.
The service levels are also currently on a max 5***** on facebook and google reinforcing our belief that customers can feel the dedication when we are helping them through the process of moving.
If you are thinking of selling please , don’t hesitate to contact us for a market appraisal.
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"Lifestyle Photography has nothing to do with cameras" ~ Stephen Eckley - Senior Valuer at Williams Estate Agents
As the world evolves in to the ever more visually immersive place it has become, photography finds itself at the front line of estate agency. The face, if you will, of a brand. An idea or concept.
For me, photography isn't about taking a photo, or, the camera used to take it. The camera is just the tool.
Photography is about the story. And this applies in any case or setting.
Property photography now follows the same principle.The ability to tell the story of the house or home. People often spend their lives building and creating homes that they love. Homes they are proud of. When the time comes to sell. It is our job to show that love to potential buyers.
Sadly, not all estate agents take the same view, and 'point and shoot' is still commonplace when taking their photos.
I am always looking for the details. Small things.
Original brick work from the 1900's. A wood beam from 1652. Perhaps the choice of granite worktop in the kitchen, or even the chrome finish of the bathroom. There is a reason why it is there. And as an estate agent, I feel it would be foolish to ignore these details. The stories, if you will, of the people that live there.
Presentation is everything. A tidy house, photographically, is always helpful But.. what sets your home apart from any of the others? How can you ask for £10k, or even 20k more than a similar house and still generate viewings? The answer, is in the first impression. The photography. ( it then takes an amazing team to negotiate the sale for you, but that’s for another day !!. ed)
Rightmove advertises property, it doesn’t sell it!
What's the best way to get buyers to come and view? Many an agent would say,’ List it on Rightmove and they will call!’
Unfortunately , unless you property is marketed at a low price, this simply doesn’t work.
As a seller, you need to find an agent that will take the time to capture the details. The finishes. The little things. You will find, that those details you like, will attract people who appreciate the same things. People who like what you've done. Who see your house as a home before they've even viewed it.
This is a part of the reason why Williams are so successful and receive such positive comments from vendors who know we’ve gone the extra mile to represent them and their home.
If you are thinking of moving, be sure Williams are one of the agents who appraise your property. Happy Selling!
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Our top 5 Malvern landmarks for March 2019:
The Hills! Spectacular scenery from Beacon View, the rugged North Hill and the cobbled British Camp.
Malvern Theatre and park! The park is beautifully kept with a small paddling of ducks it’s also worth a look at the Flow Clock on the 2nd floor of the theatre.
The Wells! Scattered around the Malvern area is a collection of wells which draw spring water directly from the hills, Furthermore, during May the wells are traditionally dressed and decorated.
Rose Bank and The Priory! Nestled in Church Street, Great Malvern, The Priory is an ancient landmark which has stood since 1085. Rosebank Gardens are situated further up the hill overlooking the Priory bell tower. The Gardens are beautiful when in flower, they also house two magnificent sculptures created by Walenty Pytel for the Queen’s Diamond Jubilee.
Morgan Motors! The Morgan motor factory host guided tours of their showrooms and work stations, the factory has been in Malvern since 1910.
Tel: 01432 277734
Email: contact@williamsestateagents.co.uk