How relevant is the location of an estate agent office?

Jrhid

Hi all, first post here and hoping for some good advice!

My wife and I are in the process of putting our small modernone bedroom flat on the market and having followed advice on here we aremeeting with 3 different estate agents to see what they offer. We met with themost local one last night which is based in our village (MGY Cardiff) and therepresentative told us that it probably makes sense to go with them as peoplewho want to buy in our village will always go to them first. However, with allthe property search websites now I was just wondering if anyone knows howrelevant the location of the actual offices are in terms of chance of sellingproperty?

Also, I know that this local EA also have another exactlyidentical flat up for sale in my small block which has been on the market forabout a year now. So to have two identical flats up for sale with the same EA,would this be a good move?

Any advice appreciated!

adamzetec

Online estate agents are becoming more and more popular so hopefully that will answer your question.

The role of an estate agent is to generally facilitate viewings and negotiation, I don't see how their location is particularly relevant.

Fire_Fox

Welcome! I'd compare their Rightmove and local newspaper listings. Also ask specific questions about how many properties they have sold in your village, how long they took to shift, what sort of prices were achieved. I don't think many buyers only use one agency, if your target market is first time buyers they are particularly likely to use online sites like Rightmove.

WestonDave

You certainly need to ask about the other flat - whether its a case of no interest or a case of the seller refusing to drop to a realistic price. If its the latter and you are willing to undercut it then you may get a buyer.

Local agents will sometimes have a better handle on realistic prices for an area so I'd certainly be interested in their view on price. If they are all on Rightmove then the location becomes an issue of whether its better to have your property on the list of a big agent covering the whole area with lots of potential buyers to send details out to (but who won't attract people wandering that area looking for property) against one that will have a local shop front presence for people physically visiting to look around but who might not have such a big buyer list. Its the local shop front versus potentially a bigger list that you have to weigh up as they'll both be on Rightmove.

However watch with the bigger agents that they don't dangle a high selling price to get you signed up and then advise you to drop it fairly quickly. A smaller agent with fewer clients potentially has to trade more reputably as they can't afford to get a bad reputation, whereas a big one will mostly trade on brand presence so a few grumpy clients doesn't really hit the business.

poppy_f1

the only time i went near a estate agents office was to pick my keys up once i had bought the house
all research was done online then i called the estate agents to arrange viewing

Richard_Webster

Don't use an online agent that isn't local as they simply will have not a clue about your area and can easily make massive valuation bloomers. What follow up and sales chasing service will they provide?

The agent has to be local enough to know your area fairly well. It used to be critical to be where the other local agents were so that people would find your office when they were doing a trawl around local agents for property in a particular area. That isn't so important now because most people do their initial searches for property on-line.

Jrhid

Thanks very much for all your responses.

It seems there are some benefits with going with a local estate agent although what with all the online websites now, the process of buying a house has certainly changed!

Hoof_Hearted

Richard_Webster wrote: »

Don't use an online agent that isn't local as they simply will have not a clue about your area and can easily make massive valuation bloomers. What follow up and sales chasing service will they provide?

The agent has to be local enough to know your area fairly well. It used to be critical to be where the other local agents were so that people would find your office when they were doing a trawl around local agents for property in a particular area. That isn't so important now because most people do their initial searches for property on-line.

This is, of course, nonsense. I am sure you have a clue about what your property is worth and local agents will give you a free valuation. You will save a lot of money with an online agent if you don't mind doing your own viewings. You also avoid the game playing in which some high street agents engage.

Winkle1908

I think most people view online initially before deciding if they want to view.

I would take more interest of if they can sell your type of house, or flat in your instance and how they market the property. We did arrange a valuation with one company and were going to go with them but their sales staff were awful when we phoned and I decided against it!

Playboy_69

High street estate agents have had a license to print money way too long. I have just had someone round to my house to do a floor plan to upload on to my ad (today) which will go everywhere a high street agent will put it, less the shop window (limited space there anyway unless it is a £1m star property type house then % wise your fee will be a lot more saving than I have). Ask yourself, if you are buying a house, where do you look? In a shop window or online?

It is costing me £219 +vat & EPC to sell my house & the agents do everything & more that a high street do. If I was to use a high street agent it would have cost me £2,800. That can come off the price of your house to sell it quicker. I had my house valued by 3 local agents & all were within £10k of each other. They only do what you can do by looking at other houses for sale in your area & what have been sold at etc. I get to set my own price, change it when I like, change my wording/pictures at any time I want.

All you are paying for with high street agents, is office rent at a high street premium. I know plenty of people who have sold online, one of which went in a month in a not too easy sellers market. Online is the future!

Gonzo33

Actually to a degree I agree with Richard Webster.

Local agents still hold better knowledge of the area than an internet agent with no connection to the area would. You might pay them more but I bet they achieve a quicker sale for you.