When using an Estate Agent to market your property, it is important to select the right estate agent:
1. Visit the Estate Agents Nearby - They will have more experience of your local area and the type of house that you are selling. Check how many properties they're selling in your neighborhood.
2. Don't feel obliged to market your house through the same estate agent which is handling the property you are buying.
3. Check Locally for For Sale Boards- Make a note of how many for sale boards the agents are displaying in the area, and which have sold written on them- because this will be an indication of how effective the estate agents are.
4. Check Local Papers - Again, check how many houses the agents are selling and whether or not they are the same house you are selling.
5. Personal Recommendation- Ask somebody who has recently sold a house who they sold it through and get a sense of the amount and quality of service they were given. Ask just how long it took for their property to sell.
6. Watch out for the Higher Valuation -Anyone can provide you with a high figure at which to sell your property. This is a type of trick employed by estate agents to secure a sellers business. Get several different estate agents to value your property; and although they are all likely to vary slightly beware of the abnormally high valuation.
Ask the estate agent to give you instances of properties of your property kind and location that have already sold just lately at that price. You may also check this from various house price websites which are online which give details of properties selling in a particular neighbourhood.
7. Fees -Negotiating a lower fee with an estate agent does not always pay. A lower commission rate lessens the estate agents incentive to sell your property and properties attracting higher commissions could take precedence. Try to offer an incentive by negotiating a sliding scale of fees: If the house sells for the full asking price, the agent will get the highest percentage of commission, the percentage should then reduce based on the selling price achieved.
8. Contracts -Beware when signing the estate agency contract. Read the terms of the contract carefully and make certain you know the type of estate agency contract you are signing. Choosing the incorrect form of estate agency contract may well mean that that you're limited as to how you can sell the house and may mean that you are bound to an under performing estate agent or may need to pay more than one estate agent; in some circumstances the wrong estate agency contract may mean that you need to pay commission payment and costs without selling the house!
9. The terms of the contract needn't be set in stone and one-sided - negotiate terms beneficial for you, for instance, the period of time, the estate agent may wish to tie you into a contract of two or three months ? when ideally you need to be able review your relationship with the estate agents on a monthly or weekly basis.
10. Use Several Agents The advantage of using more than one agent to reach a wider audience and attract more buyers for your house. If you do choose to use more than one estate agents, read the contract very carefully make sure it is not a sole-agency contract as this means that even if you sell your property with a different agent, you'll still need to pay the non-selling agents commission. Bear in mind that multi-agency contracts attract a higher commission.
11. Pose as A Buyer - Visit the estate agent in the guise of a buyer. You should be able to test whether the estate agency is busy and measure the level of service any potential buyer of your house is likely to receive and the type of houses suggested to them.
12. Complaints and Redress Schemes- How do they deal with complaints? From October 2008, all estate agents have been required to register with an Estate Agents Redress Scheme which has been approved by the Office of Fair Trading. There are 2 main redress schemes: The Property Ombudsman and The Surveyors Ombudsman Scheme.
Many agents are members of professional associations for example the National Association of Estate Agents, the Royal Institution of Chartered Surveyors and the Guild of Professional Estate Agents. Membership of a professional association means that they adhere to a code of practice and will be subject to sanctions from their governing bodies. If the agent is a member of a Professional Association, you can pursue your grievance through the internal processes of the association.
13. Ask the right Questions:-
* Just How Long Has the Estate Agent Been Trading?- Have they got experience in selling houses like yours and in the same town?
* What Comparable Properties Have They Sold Recently? How long did it take them to sell? Exactly what price did they sell for?
* How Many Buyers have they got on Their Books? just how many are seeking your style of property?
* How Will They Advertise Your Property? Which property periodicals, newspapers and property web sites will they use? Have they got examples of house details? Check how well properties are presented. If you were a potential buyer would you be impressed?
* Who within their Company Will Manage the Sale? - Meet them personally. How do they come over? Are they likeable? Are they pro-active or too pushy? Will the sale be handled by one person or several? Are they familiar with selling your sort of house?
* Veiwings ? How will they handle viewings? Do they work evenings and weekends?
* Property Chains- How do they handle property chains? When the sale is agreed, it is essential to keep the people in the chain well informed, happy and the transaction on the right track.
* Recent Sales ? Ask for information on recent sales what kinds of house have they been involved in selling recently and what kinds of problems you could be expected to experienceGut Feeling- Ask yourself ? Should I have confidence in this agent to sell my property? and if the answer is no walk away.
Author Resource:
This article is brought to by Information4U, the experts in property information. Check out our web site at http://www.searchlandregistry.com and http://www.titledeedsonline.com
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")