Choosing the right agent to sell your home?

chickmug · 18 March 2009 at 1:57PM

In a past post I said I had sent my pal some notes on what to look for when choosing an agent, These are the notes but I am sure they could be expanded. I am posting them as I have PM’s asking if I could post. Can anyone really get the answers to all these questions? I say can anyone afford not to get answers. You are spending thousands of pounds and if you were spending this amount on anything else (TV, camera, second hand car) you would probably research the matter just as thoroughly.

I am now retired (ex agent) and only ever found the odd person ask all these questions. Most were only interested in what’s the best price you can get, how much do you charge and how soon will you sell. Here is the list which I am sure could be extended!!!!!!!!!!!!!!!!

CHOOSING AN ESTATE AGENT TO SELL YOUR HOME

Draw up a list of possible agents by: -

Looking at the Yellow pages or Yell.com
Looking at agents adverts in the newspapers – which ones grab your attention?
Looking at agent’s web sites – easy to use – request details.
Solicit recommendations not just those who sold very quick with no problems. You want those who went through problems and difficulties selling so they were better able to assess how the agent overcame the issues.
Visit their offices to see if they look welcoming – go in and ask for sale details to see how your enquiry was handled.

The Questions to which you want answers: -

Are they members of professional bodies? This will make complaining more effective should it get to that point.
How flexible they are on commission? And do they price match?
Who deals with you once you are on the market and then once a sale is agreed? Hopefully it will be someone who knows what they are doing. In smaller agents it is common to be dealt with a by a partner who would have good incentive to get the sale for you.
How viewers are are vetted. Are request for viewings asked - can they afford it, do they need to sell, are they sold, what is their chain and who exactly will be viewing?
Do they accompany viewings and who will be present on their behalf? A casual part timer with low incentive to sell or someone more senior with a much greater interest in success? Do they have certain times only when they will accompany a viewer – seven days a week, mornings, afternoons and evenings?
Ask to have sight of their selling agreement and if they are prepared to vary it should you feel uncomfortable with any parts.
Be sure you know whether you want to go Sole Selling Rights SSR (whoever sells even if you sell to your friends you will have to pay the commission), Sole Agency SA (you can only use one estate agent but usually can sell privately) or Multiple Agency MA (you can use other agents and as many as you want. The problem with this latter option is the agent’s incentive is reduced and their commission is a lot higher. If you go on with more than a couple of agents many will not spend their money even though they will take your house on. Finally will they agree to exclusions even on SSR such as if a neighbour, workmate or friend buys?
What is their minimum period of engagement? This varies around the country but 12 weeks is long enough preferably shorter but you will find resistance from many agents as they want a decent period of time in which to recoup their expenses in marketing.
Your exact liability if they did not sell after the minimum period and you switched agents. I suggest they provide a list of all those they feel they have introduced and to which they may feel they have a commission due. If you switched one thing most people do not do is make sure the new agent agrees to split commission with the earlier agents should that situation arise. So effectively you will pay no more than the equivalent of one commission.
How are complaints are handled in their office.
Ask if they will expect you to use their HIP, solicitor, broker, etc.
Can they provide recent testimonials?
What media will be used, what type of adverts and what frequency?
How soon will they get it on the web sites? And how soon can they update should anything change?

Sales details
How soon will the draft set be issued to you?
Are they happy for you to be able to omit, add and alter once you have been sent the draft set?
If you are not happy with any pictures will they happily change and if the outside shots were taken on a drab day will they re-take as soon as possible in better weather?

Good Questions to ask the valuer (the questions rarely asked but difficult to answer)
Why should I use your firm?
Why do you think your firm is any better than (quote their main competitors)?
I will be paying a great deal of money to use your services why shouldn’t I use a web based firm or sell privately which will cost a lot less.

jay7_2 · 18 March 2009 at 4:54PM

Check customer reviews on websites such as www.reviewcentre.com or www.allagents.co.uk.

chickmug · 18 March 2009 at 9:24PM

jay7 wrote: »

Check customer reviews on websites such as www.reviewcentre.com or www.allagents.co.uk.

Excellent idea but so few agents on the sites. I did laugh as one agent who I know offers a really good service has been marked one star so clearly upset that one reviewer

Choosing the right agent to sell your home?

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