Advice on which EA to choose?

farmerboy

Had 4 valuations this week from local EA's and just after the forums opinions.

Background is its a 3 bed semi, steel frame brick clad (as the whole estate is) ex council house. Large garden, off road parking, kitchen and bathroom new 3 yrs ago, gas central heating new boiler 5yrs ago(with full service history), UPVC double glazing, facias and soffitts all fitted 5 yrs ago with the FENSA cert, Full structural survey done 3yrs ago no major probs. No chain at all (we've moved to an inherited property). Front views over open country side for 3 miles.

Looking at local properties already on the market and recent sales we think its worth IRO £110-115000, we also have a realistic figure that we want to achieve.

The valuations are as follows, plus pros and cons we see

EA1, £105000, office within 1 mile, plus another in nearest major town(5 miles away) 1.25%com min £1175, £250 inital marketing fee, HIP £350 inc vat, Veiwing £50 flat rate/£10per viewing. No sale no charge except the initial £250. Adverts on own website plus Rightmove and 1 week in local paper. Pros local office, negotiation possible one fees, some houses on estate already on with them. Cons some bad feedback from other sellers, not a brilliant exp when we bought off them 10 yrs ago.

EA2, £110-115000, 1 Office in major town, 1% com min £1200, no initial fee HIP £376 inc VAT, Viewing £7.70 per viewing. £120 withdrawl fee, 2 adverts in local paper, on rightmove plus 3 others and own website. Pros, Right price range, good package. Cons, office not on "EA's row" bit out of the way, not happy with the valuers attitude and comments tells you what you want to hear.

EA3, £115-120000, Office in major town, 1% com, min £800, no initial fee, HIP through LMS no fee given, free veiwing, £150 withdrawl fee, 1 advert in local paper, own website rightmove and fish4homes, also in 2 other offices in other local surrounding towns. Pros good package, felt very comfortable that not being told what I wanted to hear especially as the valuation was higher than we think is worth, good coverage. Cons our image of the EA is for the better estates and areas, not 100% certain that thier client base would be after our property.

EA4 £104000, 1.5% com, £850 marketing fee (on some finance scheme to help FTB's) HIP included, free viewings, 2 adverts in local paper, own website Rightmove and Look4aproperty, 1 office in major town. Pros can't think of any, Cons Cocky valuer, original valuation of £90-95000, large fees, main argument was that they sell more than any othe local agent (will do with the undervaluations)

Our feeling is that its between EA1 and EA3. EA4 has already been told we won't be going with them (i'll do it myself first), EA2 not happy we'll get a good service. Only with EA4 did you have to use their solicitor, the rest all have a good relationship with our solicitor (quoted £500 all in for the conveyancing) The first 3 all agree that the realistic figure we have is very achieveable for the property.

All comments welcomed.

partlydave

I sold my last house in May 2007. I only had 2 EA round for valuations. I chose the one I did because he was extremely professional, sent an excellent valuation presentation/info pack.
I had 5 or 6 viewings and sold to a 1st time buyer. The EA were excellent throughout.

BTW, I didnt know some charged per viewing. Is this a recent thing? I personall wouldnt go with an agent who did this.

googler

Forgive me, but you seem to have the crucial factors figured out, and I'm struggling to see why you're suffering choice anxiety.....

However, for anyone who questions EA fees, just look at this situation - three out of four have spent time with this seller, and presumably had some expenses, for no financial return whatsoever. Only one has any possibility of recouping their outlay.

partlydave

googler wrote: »

Forgive me, but you seem to have the crucial factors figured out, and I'm struggling to see why you're suffering choice anxiety.....

However, for anyone who questions EA fees, just look at this situation - three out of four have spent time with this seller, and presumably had some expenses, for no financial return whatsoever. Only one has any possibility of recouping their outlay.

You sound like a current or ex EA

They have to build in those costs into their overall fees imo. Speculate to accumulate. If they offer a professional service then the seller will sometimes accept a higher fee for the better service.

googler

Exactly my point. The fees have to accommodate the work that doesn't pay them.

adg1

The final decision is obviously yours. My advice would be to go with the EA that you feel will do the most legwork and keep their eyes on achieving you the highest possible price in the shortest possible timeframe.

Don't be solely guided by fees as you'll find that the EA who drops his too readily or too much will probably not work as hard as he could on your house if the one round the corner is on at 1.5%, not the 1% they offered you.

I'd rather the EA who charges the same for every instruction so his negotiators don't cherry pick the properties that will net them the most commission.

From what you say, you seem to like the third one. They appear to have 3 local offices who will have a buyer base, advertise in the right places, dont' charge you for viewings.

The agents that charge for viewings I'd avoid. You are employing them to sell your house. They charge a fee for that. What if they get 5 viewings in the first weekend (as another recent thread stated)? Thats another £35 based on the other figures. Do that a couple of times and you've nearly doubled their fee. IMHO that is a 'hidden' cost as it could be very high or it could be very low depending on the amount of legwork they do for you and it is on top of their percentage fee they want for selling the house anyway!

I agree with Googler - if they can't work out an overall fee that covers their costs then more fool them.

googler

Some EAs down my way hire outside contractors to do viewings for them and charge the clients on a 'per viewing' basis - which always makes me think; what incentive do the contractors have to sell the house, and - if they don't actively sell it, and it stays on the market for a loooonnnggg time, doesn't that increase their income, giving the contractors more money for NOT selling it..... and increasing the bill to the client.

VIGILANT22

Does it matter where an EA's office is, most people source property online...EA 3...appears to be overpromising on price....over promise, under deliver!

silvercar

EA3......Cons our image of the EA is for the better estates and areas, not 100% certain that thier client base would be after our property.

I wouldn't use EA3. I think they have over valued because in their mind they are valuing your property as if it was in their (more expensive) area. I guess that your property would be one of the cheapest they would have on their books, so your property wouldn't be given the exposure and attention that their more expensive properties get.