How to choose an estate agent?

Bonniepurple

We have 3 local agents around here. One goes for high end and overvalued at about 10k.  One which aims at the lower end and treats anyone who is slightly unusual like dirt.  One which is in the middle, and, having bought through them, very helpful.  If/when we move again we will use the latter one.

Local knowledge is IMO key.  One of the houses along my street is up for sale at £275K with a national EA.  The rationale appears to be that one house along the street sold for that amount a year ago. Said house had an extra bedroom.  Needless to say other Similar (cheaper) properties have sold in the meantime with local agents!

dllive

Quick update:

Ive had 4 EAs out (2 'higher end'; 2 'normal'). All were very good I must say. All of them said the market was very very busy, and it was all new business (but then I guess they would say that).

Theyre valuations varied by quite a bit! £180k to £215k! Perhaps this is normal. Knowing the local property market fairly well, I think £190k is probably realistic.

Theyre fees are between 1.3% to 1.5% (plus VAT). One said that they would charge a flat £2k (plus VAT). If the property sells for £200k then thats the equavalent of 1%. (Incidentally, she was the one that valued the property at £215k!)

The 'higher end' one quoted 1.5%, but Id have to pay for photos, floorplans etc... Whereas the 'normal' EAs said that was included. 

Is it usual practice to haggle on commission rates? Im awful at haggling, but Ill give it a go if it means I save a few bob.

Is there an easy way to check if their properties have sold at/close to the asking price?

What other fees do I need to cater for (solicitors, conveyancing etc...). I just need to get an idea of ballpark what the total cost of selling it is likely to be.
Ill be drafting an email to them next week with the questions youve provided me with.

Thanks all. 

Davesnave

When we were negotiating with two favoured EAs on opposite sides of a town square, one was offering 1% and the other, whom we preferred, said, "1.25% and that's the very lowest I can go."

We knew we'd a relatively easy property to sell, so I sighed heavily and said, "Well, if you're sure that's your best, we'll have to go with Umbridges (not the real name!) then."

My wife and I left the EAs and headed across the square. Half way across,my wife's phone rang. A voice at the other end said "OK 1%"

greatcrested

Yes haggle over commission rates.

Yes hagle over minimum contract term (6-8 weeks max).

Yes haggle over notice period(2 weeks max).

On the fixed fee one (or potentially others) try offering a lower fee if they fail to achive, say, £200K. That incentivises them to get a better price and if they succeed you both benefit.

dllive

Ive just been reading this rather excellent article (hopefully it will help others on here): https://www.theadvisory.co.uk/estate-agents/fees-what-should-you-pay/#anchor-9

Secretsusie

I've just put mine on the market. I asked three agents around and had a good idea of the value of my house.  All three came in within 7k of each other on value, fees just under 1%.  Picked one based on his personality tbh.  One never called to ask, other one called to ask and virtually begged me to go with them and offered joint agency at 1%. Called first agent back and explained that other agent was offering to go joint agency but still at 1% and would they? They agreed and counter offered a .8% fee for a sole agency for three weeks and then to go joint if not sold in those three weeks.   So that's what I'm trying, I don't see I have anything to lose with giving the preferred one three weeks sole, and then going joint for the 1% in three weeks time. 

Pennylane

I had to sell my Mum’s house 3 years ago when she went into care.  I got 3 valuations and they all came in similar.  My brother knew one of the EAs very slightly and said he would prefer me to go with him so I did to keep him happy.  I did however negotiate a fixed fee and am so glad I did as the house sold for well over (about £40K) what they said it would but I was confident it would fetch more.  they were actually pretty useless .... the photos they took were nothing special and several potential buyers wanted to come after work and they said they had no staff so I ended up showing them round which I wasn’t best pleased about.  I also have only used a solicitor once and have sold several houses.  I use a licensed conveyancer, much cheaper and very efficient.  

dllive

Can I ask: Is there an easy way to check if their properties have sold at/close to the asking price? Ive almost decided who Im going to go with, but she gave me a very high valuation and said they sell lots of similar properties. So I want to see if she overvalues property to get the business and then quickly drops the asking price soon after going to market.

kinger101

(a) Check the quality of their photos and listings on Rightmove.  Some of the smaller agent's listings are dreadful.
(b) Get three round to quote.  See whether they're amiable types or not.  You don't want a cold-fish or obnoxious type showing potential buyers around.
(c) Negotiate price with the one you like the best.

Davesnave

dllive said:

Can I ask: Is there an easy way to check if their properties have sold at/close to the asking price? Ive almost decided who Im going to go with, but she gave me a very high valuation and said they sell lots of similar properties. So I want to see if she overvalues property to get the business and then quickly drops the asking price soon after going to market.

There used to be a sort of app for that, but I'm out of the loop now. Watching the local market, I know the agent closest to us is an over-valuer, besides being useless in other respects, but it takes two to tango. Local people are also willing to accept her inflated  price, so they either can't be bothered to seek out comparables,  or they may not be in any great hurry. Both are possibilities, though being Devon, where there are only two words for time, I'd say the latter is dominant!