Dilemma deciding on which Estate Agent to sell through.

freeguy1984uk

Hi all,

I'm just planning on selling my home, I've never sold a home before.

I've got quotes from all the Estate Agents in my town.

The 2 cheapest are both high street chain EA's, at 1% fees  (I'm predicting my home will be listed at £200k going by others sold on the street).

One of these 2 even said they might be able to negotiate a bit on the 1%.

I was going to decide between these two, but a new Estate Agent has thrown a curve ball...

I got a leaflet through the door for a brand new EA in the area with "FEES FROM 0.25%".

Looking them up online, they have only been in business for 3 weeks, and the business is registered/running from a normal house in the local area, rather than an actual office.

I haven't contacted them yet to see if I get this 0.25% rate, but I have concerns...

How do I trust them with my house keys etc, when they have no track record?
(They do look legit by the way, I'm not suggesting they are cowboys).
Are my keys just going to be kept in their house?

What about things like GDPR, etc? Are all my personal details going to held in this person's house?

What would happen with all my data if they went out of business?

Please help me decide 
And go easy on me, I'm already struggling with the pressure of selling lol.

Thanks!

theartfullodger

Cheapest:  of what?  Do the sun's 

GDB2222

We are using a very respectable firm of agents, but we have no intention of giving them keys. Why would you? 

GDPR: I would not worry about the data. 

You need to discuss with these companies what they will do to market your home, what their expertise is, etc. 

mark_cycling00

When I sold my place I spoke to two EAs charging 1% and one charging 2% but with a £50,000 higher price estimate. I picked the 2% one but very against my instincts.

They got a bidding war and achieved their asking price.

But also they charmed the EA of the house I was buying and advised me on my offer price.

That probably saved me £20,000 too 

Overall a 1000% payback on the additional cost.

But you never know and this is not guaranteed at all!!! 

You should be paying for experience and someone who's a mild psychopath and can tell when people are lying hehe 

propertyrental

* howl long is the contract minimum term ie howl ong are you locked in for? What if you decide they are rubbish and want to switch? 22 weeks? 18? 10? 8?
* how much notice do you have to give to end the contract? 12 weeks? 10? 4? 2?
* how will they market your property? How many photos? Drone? which websites? 

middleclassbutpoor

You can look at a website like "get agent" and see what their stats and reviews say about the agent.  This may be less relevant for a new start up but it may give you some clarity around those agents who you are considering in addition to the new one. 

Thoughts for the new agent concerns...

The new agent could have been someone that has worked for the agents you are looking at and has actually been someone that has been successful there and had the confidence that they can do this or an even better job themselves?

The low cost may be just because they need to get people on their books to help them build up their business. It's not unusual for new service based businesses to do things at a loss whilst they gain traction and can get reviews and testimonials etc.  Helps others trust them then and you support a new local business. r

It could be that 0.25% is if you pay the fee up front rather than the traditional method- lots of different business models these days. 

It could be that you are expected to do the viewings and that the 0.25% is low because they expect you to do more?

It could be the "from" 0.25% could be a tiered charging and these are for more expensive properties. 

You probably need to talk to them and get them around and make a decision on them as an individual. 

user1977

freeguy1984uk said:

What about things like GDPR, etc? Are all my personal details going to held in this person's house?

Millions of people have been working from home in recent years - your data is already in their homes (or in their pockets, or chucked onto the passenger seat of their cars). Your data is probably safer on their kitchen table than sitting on an office reception desk anyway.

The registered office isn't a good indication of where they actually file things anyway - often it is simply acting as a postbox for official communications.

middleclassbutpoor

Register of fee payers and certificate downloads | ICO

All businesses that process data should be on the information commissioners register. 

MultiFuelBurner

We have sold 4 houses now ourselves last one through doorsteps(sadly they no longer exist) that one cost us a measly £174 including premium Rightmove.

We have no problem.showing people round our home or dealing with offers but some like an Estate Agent to do that for them.

The saving over local estate agents was £4824 

We also took our own photos as we have a passion for photography.

Not for everyone and if we were to sell again I would have to see what online agents are out there but as long as they advertise on Rightmove that's all that matters to us.

youth_leader

I made lots of mistakes when I sold for the first time and chose a small EA, I had to leave her and move to a larger company. 

The main thing is to make sure the company you choose offer you advertising on RightMove that includes excellent photographs, a clear and accurate description, floor plan and EPC.   Some also offer walk through videos. 

You can see their performance by looking at the RightMove listings.

I also recommend asking if they have staff available to do viewings, and when.  My EA closed at 12 noon on a Saturday.

housebuyer143

MultiFuelBurner said:

We have sold 4 houses now ourselves last one through doorsteps(sadly they no longer exist) that one cost us a measly £174 including premium Rightmove.

We have no problem.showing people round our home or dealing with offers but some like an Estate Agent to do that for them.

The saving over local estate agents was £4824 

We also took our own photos as we have a passion for photography.

Not for everyone and if we were to sell again I would have to see what online agents are out there but as long as they advertise on Rightmove that's all that matters to us.

Pleased to hear doorstep no longer exist. They were the worst company I ever had to misfortune to deal with. 
Fake reviews on trust pilot etc. Look at 99 home if you need to sell in future, £99 and great service.