Agent recommendations for selling a Factory Conversion Flat in East London?

johnc

Hi, Does anyone have any recommendations for selling a Flat in East London? 

I have never sold a flat before and read through the guide on MoneysavingExpert which is incredibly helpful but wondering about agents since that's a crucial aspect of the sale. I am strongly considering Yopa since they are in the process of selling a similar flat to mine and thinking maybe they will have then a roster of potential buyers already compared to other agents - particularly as mine is a more "unique flat" which doesn't appeal the buyer just looking for an average flat but more someone who wants an architectural factory conversion flat. But then there's a specialist agency also that only deals with Factory Conversion Flats (more expensive fees though). As it is Yopa is more expensive than the average online agents but then also wondering what about the high street agents?

Any help would be greatly appreciated!

Grizebeck

I would use a normal high street agent 

johnc

Grizebeck said:

I would use a normal high street agent 

Thanks - why do you say that can I ask?

Bookworm105

johnc said:

Grizebeck said:

I would use a normal high street agent 

Thanks - why do you say that can I ask?

why do you think you can't?
people start by looking on Rightmove for properties to buy, I doubt your flat is so unique it will appeal to a high end client base that would only be looking on other places.

gwynlas

You are best off looking at  EAs in your area as that is where people who want to live there look despite everyone having an on line prescence through Rightmove etc

You need seek out those who have similar properties to  yours for sale and invite three to give you valuations.
 
Check out their listings and photographs and decide whio can best represent you, percentages and lengths of contract should be very similar. You need to make sure that the flat is clean and presentable before inviting any of them in.

Buyers are reassured by having face to face contact with agents especially with such large purchases in a similar way to attending main dealerships to purchase cars

BonaDea

A lot of buyers won't even consider properties sold by Yopa or Purplebricks and similar online outfits.  They'll just scroll on past them on RM.

propertyrental

BonaDea said:

A lot of buyers won't even consider properties sold by Yopa or Purplebricks and similar online outfits.  They'll just scroll on past them on RM.

I am one of those buyers. Won't waste my time considering properties sold by the cheap online 'agencies' who will provide the barest minimum of service as sale progresses.

ps there's a reason why purple bricks was recently sold for £1.

https://www.bbc.co.uk/news/business-65623561

johnc

Bookworm105 said:

johnc said:

Grizebeck said:

I would use a normal high street agent 

Thanks - why do you say that can I ask?

why do you think you can't?
people start by looking on Rightmove for properties to buy, I doubt your flat is so unique it will appeal to a high end client base that would only be looking on other places.

Sorry I didn't quite understand - Yopa also lists on Rightmove. Also considering a high end Agency that only deals with Factory Conversion Flats. Actually in some ways my flat could appeal to a buyer who wants a Penthouse Factory Conversion flat with private balcony and unobstructed views to the skyline but in East London instead of being in West London or Shoreditch etc - if the location were different it would be much more expensive - only because of the location is it such. That's how I was convinced to buy it as I was originally considering Stratford as far as East London as I knew that particular area would put on value since it's easy to get to central London in 20 mins. Wheras where I am located in Plaistow E13 is just a little different but still actually only 15 mins from Stratford on the bus or driving. 

I was considering Yopa mainly because they are the ones who have sold another Penthouse Flat in my Development whereas the high street agents seem to not be selling flats in my Development and they are staying on the market more despite reducing prices (except one other which is getting no interest as it's priced too high - my neighbours).

johnc

gwynlas said:

You are best off looking at  EAs in your area as that is where people who want to live there look despite everyone having an on line prescence through Rightmove etc

You need seek out those who have similar properties to  yours for sale and invite three to give you valuations.
 
Check out their listings and photographs and decide whio can best represent you, percentages and lengths of contract should be very similar. You need to make sure that the flat is clean and presentable before inviting any of them in.

Buyers are reassured by having face to face contact with agents especially with such large purchases in a similar way to attending main dealerships to purchase cars

I should point out Yopa has face to face contact with a local agent and I think it's the local agent who seems to have been rated well is the reason she's been able to sell in our Development whereas EAs like Hunters and Keatons don't seem to be selling - I have been tracking the sales across the last year and they have mostly been online agents and not high street agents which is interesting. 

johnc

BonaDea said:

A lot of buyers won't even consider properties sold by Yopa or Purplebricks and similar online outfits.  They'll just scroll on past them on RM.

Totally hear you and I personally I would go with a high street agent if I was confident they could deliver (as I don't care whether its traditional vs online) but looking at the sales of similar flats in my Development it's been the online agents that have achieved sales rather than the traditional ones. I notice the online ones are much more communicative than the local high street ones so far, been flexible about hours. Yopa's agent locally probably has more equal knowledge of the local area to the high street ones. 

So while maybe a different area could be completely different - it doesn't seem in this area that people are scrolling past the online agents. 

johnc

propertyrental said:

BonaDea said:

A lot of buyers won't even consider properties sold by Yopa or Purplebricks and similar online outfits.  They'll just scroll on past them on RM.

I am one of those buyers. Won't waste my time considering properties sold by the cheap online 'agencies' who will provide the barest minimum of service as sale progresses.

ps there's a reason why purple bricks was recently sold for £1.

https://www.bbc.co.uk/news/business-65623561

Sorry but I don't really understand this - what are the aspects of service as the sale progresses that the online agencies are missing out on. When I bought my flat 11 years back it was a pretty straight forward process of back and forth that I think any agency should be able to manage - it's simple managing communication and process. 

The link was about Purple Bricks organisational structure - why would that impact your decision to use them if they got the job done better than High street agents in your area? Foxtons for instance had lots of lawsuits etc and bad press and I bought through them originally only because they were the ones who showed me flats more efficiently - I didn't really want to buy through them (because of all that bad press) but at the end of the day in my view it's about the agent that delivers surely? Not whether you have a "political" opinion about an agent (but I guess that could be valid if you feel strongly about it).