multiple estate agencies how does it work?

jo_budding

I've decided to sell my flat using multiple agencies. I want to sell asap and get the best price (plus I had a nightmare with a sole agency 2 years ago). I've got 3/4 agencies ready to come and view (weds). They all have the same percentage for multiple agencies. How does it work if their valuations are all different? do I choose the same sale price for all of them? Do I let them know what the others have valued me? And what if I have an open day? (is this a good idea?) do I give them each a 1hr/2hr slot for them to bring people or is it one appointment at a time? With me co-ordinating it all? I would love some advice, I feel like a bit of a muppet asking these questions but I wouldn't want to ask these to the EA's in case they 'prey' on my ignorance.

thanks

spunkeyrich

Do you really need a multy agency to start with? the difference in cost to you is quite alot. sole agency anything from 1 - 2 % multy agency 2-3 % if you go multy you pay whoever sells the home. valuations will be different, suggested prices will differ all the time, its a personal thing from the agent and only on rare occations will a figure be the same. Y ou have to market the home with all agents at the same price, otherwise credability is in doubt if a purchaser sees it for cheap elsewhere.

Open days are popular in some countires, but it really depends how much interest you get, i would stear clear of them as it put some people off. if you get lots of viewers then get the agent to show them round, its what they get paid for.

Say to the agents you have others coming round but would like seperate opinion on the price you should ask, dont tell til they tell you what they think, otherwise they will in influenced.

I suggest you try Sole Agency for a short time with an agent to start with and say that you intend adding agents to whichever agent you sell through, dont let them tie you into a lengthy agreement, give them say 2 weeks sole agency, this will give them time to contact buyers they have on thier books.

cheers

rich

Mrs_Optimist

We had a sole Agency dealing with our house sale who was c~~p. After 6 weeks he hadn't arranged ONE viewing. We instructed another Agency and did it on a joint fee of 1.5% - whoever sold got paid. Our first Agency suddenly produced viewers out of nowhere but did not do the viewings himself. Our second agent sold our house within 2 weeks (including Christmas) and did all the viewings himself 3 the week before Christmas, 2 the first week after. Our house sale is going through now.

chant1l

Multi agency looks like desperation. Imagine seeing and getting the same particulars again and again. Most buyers register with several agencies, so if you are with one you will get the same buyers seeing your house. I always go with a couple of agents, never in the same area. That way I market geographically wider, hopefully getting to more buyers.
I don't negotiate fees too hard either, they need to want to sell your house, demotivate them and they may not bother.......
Don't tie yourself in for more than 6 weeks, and advise them that after a short period you will keep them on but add more agents, for exactly the same fee. Many agents will tisk at this but you do not want to be tied to 12/13 week terms with a crap agent.

MickKnipfler

I usually get 3 or 4 quotes and then offer them all multi-agency for the highest sole agency price.