Are you planning to get proper valuations for your house? If answered yes, then it is important to conduct through research and choose a good estate agent for selling your valuable property. You need to contact at least three estate agents in London before hiring one for your need. Don’t forget to ask all necessary questions to the agent so that you get the best possible chance for selling your house quickly at the right price. Read on to know about some of these questions that you should ask the estate agent.
How successful have they been in selling properties earlier?
It is important to check the reputation of the estate agent and know their track record of selling similar properties in the past. Ask him if he is advertising same kind of properties like yours now. If so, then they must be having the list of buyers who are interesting in buying such properties. You may go through the website of your estate agent to see different properties for sale that have been listed there. This will help you to get an idea if he can help you in selling your valuable property at the most suitable price.
Does he advertise properties on different websites?
This is certainly a mandatory requirement that you should ask your agent in the present market. Several people visit the websites where different kinds of properties have been advertised by both the owners and agents and with hardly 90 percent of prospective buyers beginning with their search for properties online, you just cannot afford to miss out your exclusive property. You may like to use a property website for finding a trustworthy agent in your area. This way, you can check their online reputation and know the type of properties they are selling, as of now.
Does your estate agent have proper regulations of the property market?
You need to find out if the estate agent you have selected has proper regulations with the property market. That way, you can be assured that he is genuine and can help you with selling your property at the right price.
Can you get recommendation of agents from your family or friends?
Unlike most services, it is certainly great if you can get some recommendations from friends or family members about an agent. Though it does not mean in any way that they may be the right person for you, it will be an indication of the performance and professionalism of estate agents in London UK for choosing one for your requirement.
Does the agent present properties to high quality?
You will have to check for the details of properties that he is presently selling in the market. Try to see the pictures and find out if it is a good quality. Also check, if the properties presented are as attractive as they seem to be. Know the descriptions properly and make sure you have full confidence on the agent about showing your property to interested buyers in the best possible way.
What are the costs and fees of the estate agent?
The estate agents usually charge somewhere between 1 per cent and 3 per cent of the actual sale value of your property in the form of commission. In some cases, you may negotiate to reduce on the fees, but this might turn into a false economy. Your agent works on commission basis and you certainly want him to feel motivated by selling your property quickly. If you negotiate for too low price, then you might be taking away the incentive of the agent that he charges for focusing on your property sale. Try to agree for a fee that seems to be a good for both the parties. One strategy can be to pay the entire fees if the agent asks for the full asking price and sliding scale in case he sells your property at a much low rate.
Can you work property with estate agents?
The most important factor is to trust the estate agent completely whom you have given the responsibility of selling your property. Try to think how you both could work well together and then discuss with him. If you are having any queries, then do not develop a relationship that will create problems in future. Remember, you have to work together and feel that you can have complete trust on each other.
What about the contracts provided by the estate agent?
After you have discussed with the agent, you will have to sign an agreement with him. Make sure you go through the terms and conditions of the contract carefully so that you know what you are signing up to. This is extremely important when understanding the clauses of the agreement. If you want to choose a flexible arrangement where you can assess the relationship every month, this will enable you to change agents in case the present one is not working properly.
Why do you need to take help of several estate agents?
If you are working with only one agent for selling your house, this is known as a ‘sole agency’ arrangement. In case you are willing to a sole agency arrangement with the agent, your agreement will indicate the time span this will last. Once the period ends, you may hire one or more agents according to your requirement.
If you are willing to choose one or more agents before sole agency period comes to an end, then you are actually breaking the rules of the agreement with your original agent. This means if the agent gets a suitable buyer for your house, you will have to pay the commission to the new agent as well as the agent with whom you had made the sole agency agreement. Now, if the first agent agent finds your buyer, then the commission amount that the seller would pay to the new agent will actually depend on the kind of contract you have made with them.
In certain cases you can negotiate to change the sole agency agreement to a joint sole agency agreement along with the actual original estate agency.