Dealing with estate agents (as a seller)

Mr_Thrifty

Hello everybody.

I'm potentially going to become a first time seller.

I've called a few estate agents and, I have to say, they do seem very unhelpful!

Their valuations seem utterly random and, when I ask questions about how they have reached their figures (which, let's be honest about it, is definitely worth doing.... every couple of grand makes all the difference), they seem unable to explain and just get defensive. They seem more eager to get into an argument than to win a new client.

It's not that I'm one of those people who thinks my home is worth ten times more than it actually is. I just get 'curious' when different estate agents give me valuations anywhere between £225K - £375K for the same property. I kid ye not. I think it's probably worth around £275K.... but does anyone have any advice how I can deal with these jokers? Or is it best just to avoid them altogether and sell privately via an ad in the local paper?

Many thanks!

1echidna

We had a band of valuations with our property, significant, but less than yours. I guess there was less room for variation on ours because ours was a terraced house with many almost identical houses in the locality on which to base valuation on the basis of sold prices. I assume that perhaps that is not the case with your property?

There are perhaps two things to be wary of with estate agent valuations. High valuations to get your business. Deliberate low valuations where the EA gets a kickback from a selected or known buyer.

Probably all things being equal we would have gone for an EA who gave a middling valuation but in our case the EA with the high valuation was the one who impressed us most and was willing to negotiate on his fee. In the end he sold the house quickly at the top end of his anticipated selling price and delivered exemplary service throughout.

stokesley

Mr_Thrifty wrote: »

I just get 'curious' when different estate agents give me valuations anywhere between £225K - £375K for the same property. I kid ye not.
Many thanks!

I can beat this - valuations by four agents ranged from £290,000 through £380,000, £450,000 and ended up at a whopping £490,000. Sorry I can't be more helpful - afraid I've bunged it on the market somewhere in the middle with a sigh of despair at the thought of having to pay commission to one of these jokers.

G_M

Apart from agreeing what price to market the property at, the most important thing is to agree a suitable contract with the agent:
% fee, joint or sole agency, and critically, how long are you commited to them. If after 3 weeks you are dissatisfied, are you locked into a sole agency agreement for another 6 weeks???!

It's all negotiable if you ask!

googler

Pick the one who you think is going to provide the best service, will do the most to market and sell your home, and the one you feel you can work with best.

You don't have to market it at their valuation figure. Have a chat with the one you selected above about varying their valuation to another asking price if need be.

oneeye1

there scum do it yerself

Doozergirl

oneeye1 wrote: »

there scum do it yerself

Presumably you'll hire someone to type up the details for you when you DIY? If you want people to be able to read them.

tek-monkey

oneeye1 wrote: »

there scum do it yerself

And how do you suggest marketing the house to ensure it is seen by the most people, or fielding phone calls from potential buyers when you are supposed to be at work? EAs exist for a reason, most people find it easier to use one.

Doozergirl

OP, It is important that you also research what your property might be worth. Vaulation is not a science - but if you look at rightmove and what else is on the market - and importantly, under offer you can compare the size of properties in your area. You don't need your own street to provide comparisons which is where people often go wrong. Buyers will be looking in the general area and so it's important to look at your whole town, but still comparing the good and bad areas within.

Go through the property papers, through rightmove and look on nethouseprices to see the prices houses have sold for in your strett, bearing in mind that prices move!

If you arm yourself beforehand then you won't have to argue with people. I can't say I've ever had an argument with an EA at the point of valuation! Maybe you need to consider how you're approaching this?

What is most important with an investment as large as a house is that you are sure of your marketing price and that the house is presented as well as it can be.

lovethymini

Totally agree with Doozergirl.

Go with the EA that you like, you decide on the marketing price with the EA based on comparables on the market at the same time as yours, and above all - keep a diary!

Good luck!