An estate agent acts on your behalf to negotiate the sale of the property between you and the buyer and is able to list your property on property portal websites. You may be tempted to select the agent who valued your property the highest but you should remember that a valuation is not a guarantee of the sale price; they may advise that you drop the price at a later date.
There’s a range of factors you should consider when choosing an estate agent:
Both have their pros and cons. You might want to have an estate agent that you can meet face-to-face, or it might be more important that you benefit from the cheaper costs of an online agency.
Some agents charge a percentage of the sale price while others charge a fixed fee. Make sure you know what you are paying for – will you be charged if your home doesn’t sell? Will you pay extra for post-sales progression? Are there any penalties? Don’t be afraid to try and negotiate on the fee.
Some estate agents offer a cheaper package if you are able to conduct your own viewings.
They will help and advise you between offer and completion.
Are other customers pleased with the service received?
If your contract gives the agent sole selling rights then you will pay the estate agent even if you find your own buyer during the period agreed. Make sure you know what happens after 3 or 6 months – can you engage another estate agent without any penalties? Do you have to give notice to your first estate agent? If you change agents, will you end up paying fees to both when you find a buyer?
Membership requires estate agents to sign up to a code of practice or membership rules. Example bodies include the National Association of Estate Agents (NAEA) and the Royal Institution of Chartered Surveyors (RICS).
