There are a lot of misconceptions about estate agents. Let’s face it, our reputation is not good! Yes, there are some less than reputable firms out there, but if you stick to the agents that have been in the market for many years (so they have seen the ups and downs of the market and dealt with their impact), use an agency with qualified staff as well as getting recommendations from friends and family, you have a good start at finding a professional to sell, what may be, one of your biggest assets.

Even if you have an inclination towards using a particular agent, it is useful to canvass opinion from several agents, especially if you haven’t sold for a while, as this should give you a good feel for the market, what each can offer and what the right “valuation” may be.

Here are some thoughts to help you make the decision:

Local Expertise Matters
Choosing an estate agent with strong local knowledge is vital. Agents familiar with the area will have a better understanding of market trends, property values, and what potential buyers are looking for. They will know about potential developments in the area and may well have details of buyers who have missed out on similar properties.

Find sold properties online in your area, some of which will have a marketing history – using this, you can discover which agents have sold properties similar to yours in the last few years and you can shortlist which estate agents you would like to see.

If you are selling a property that might have appeal beyond the local area, consider an agent with national reach.

Evaluate Their Marketing Strategy
Once you know which agents you are going to see, you can ask about their marketing strategy. The same strategy does not work for every property – can they tailor what they offer to your needs and your property? What do they offer? High-quality photos, floor plans, videos, mailings, newsletters, online listings, and social media advertising are some of the things that should be covered. Find out if your agent uses a professional photographer/videographer, or just uses their phone or an office camera. Can you have a video as part of a standard package, or drone shots?

Viewings
In most cases it is much better for an agent to do the viewings on your house. This is because, quite rightly, you cannot be objective about your house. Viewers want the time and space to make a decision and an agent is much better placed to get honest feedback from a viewing, rather than a viewer feeling they must be polite to you as its your house! Combined with the need for the agent to do the viewing is that anyone who does a viewing or will be talking about your house, from that office needs to have seen the property. No viewer wants to see a house with an estate agent that doesn’t know if a door is a cupboard, cellar or reception room!

Maximising your sale price
Whilst some people have a relatively “standard” houses, and in those cases, it is easy to value and provide comparable evidence but there are also many more individual properties that may offer potential to be sold in different ways, to maximise the price and improve sale-ability. These are often properties with potential for change of use, with land, outbuildings etc. and a qualified agent will be able to advise how best to split or market in these situations. Suggestions may include “splitting” or “lotting”, establishing use, obtaining planning permission or provision of an overage.

The Valuation
The art of valuing a property is not an exact science. At the end of the day, there are many, many influences on a “valuation”, from comparable evidence, the state of the market and what is actually being offered, but at the end of the day, the value of any property is only what someone will actually go ahead and pay for it. Your agent’s job is to maximise this, but that is not by over valuing your house to win the instruction. That is often a road to disappointment, as overly optimistic guide price invariably won’t produce results, and the longer the price seems out of kilter, the longer the property will take to sell, as you end up chasing the market…downhill. Get it right first time and with good marketing, a sale should follow. But what IS the right figure? The right figure is one that brings viewings and, hopefully, offers quickly. If that doesn’t happen, you may need to re-adjust.

Fees and contracts
Another misconception of estate agents is that they don’t deserve the fees they get. There is a huge range of commission fees out there – from 0.5% through 3.0% for a multi-agency agreement, as well as performance related scales based on the sale price. Some agencies include their marketing costs, others may ask for a contribution, others will only charge costs for marketing if you change your mind/or change agents. Clearly some houses are harder to sell than others but what you must not ignore is that potentially more than 50% of the fee goes towards the work done AFTER a sale has been agreed. Sales progression is the invisible side of estate agency – but it is often, the hardest, most frustrating and time-consuming element. Unfortunately, bad communication, lack of understanding of the process combined with often inexplicable delays, are what makes sales fall apart, and good sales progression can make the difference between a sale falling through or completing successfully. Make sure what you choose an agent who will put as much effort into progressing your sale to exchange and completion, as they do into shiny marketing, to win your instruction.

As for contract length– it needs to be long enough to allow someone to do the job and to invest time, energy and marketing in the property BUT always be wary of longer contracts of over 20 weeks – if an agent is doing their job, and you are happy, why do they need to hold you to a long contract?

Generally, like many things in life, you get what you pay for. This is especially the case when you are selling a unique or historic property, or your situation is complicated or the vendor elderly or vulnerable. Whilst not every good agent is qualified, an agent with the National Association of Estate Agents (NAEA), or the Royal Institution of Chartered Surveyors (RICS) indicates a commitment to industry standards and ethics. Choosing to sell your property should never be a spur of the moment decision, and any agent who pressurises you to make a decision clearly does not understand this.

Trust Your Instincts
With decades of experience in selling property we have met many, many clients from all walks of life, with different size properties and motivations for selling. Most have been delightful and we have built up trusting and honest relationships with them, but estate agents can sometimes be treated like the enemy. If you cannot trust the estate agent you choose then why choose them? Your home is likely to be (one of) your biggest asset(s) let your agent advise and work with you for the best outcome. And finding that person is, ultimately, what you should be looking for.

(by Alexandra Stiell, Property Consultant JSS – estate agent for 25 years and MD of GSH Residential Ltd and homeowner 19 times over!)