In the modern world when you can buy everything online, quickly and easily, you might expect it to be that straight forward when selling your property? Anyone can do it? Well this is not the case. This blog will outline how your agent is your biggest asset when selling your home.
A lot of the time, you will be thinking of the end goal, selling the house and for how much, which of course, is the important bit. But how do we get there? The road from marketing your property to actually moving to a new house can be anywhere from 2 months to 12 months or more, depending on the circumstance. It is therefore essential that your agent can guide you through this process with your complete trust and confidence.
Let’s start right at the beginning of the process. Now, in most circumstances, every homeowner will have a few valuations, this is usually when you decide which agent to market the property with. It’s your opportunity to ask the questions you want answers to, we all have different priorities; how quickly will it sell? How much will it sell for? Do you do all my viewings? All great questions which need answers but there are other important points to cover; how often will you be in touch to review my marketing? How often will you update me when the house is sold? Are you qualified agents covered by a regulatory body?
Some agents will also give you the charges of their conveyancing fees too for the ‘all inclusive package’ which is great but remember the same rules and questions apply when it comes to cost and quality of service. Often, the lower the fees can mean the higher the quantity, meaning less attention and good quality service. It can be extremely helpful to your agent to work closely with your solicitor, one who is responsive and thorough.
Think about the practicalities of what you will need from your agent and solicitor, communication, experience, knowledge of your local area/market. When paying for a service, think about the quality of that service and how it will help you!
Here are some valuation examples for you to consider;
Agent 1- Suggests a fee of £999 + VAT for the sale of your property. This agent charges extra for viewings, floorplans and a for sale board. Is based mainly online or a head office, so you will not get the same consistency with contact as you would with a local agent. You could end up paying an extra £500 depending of level of viewings and additional marketing. Beware of hidden costs!
Agent 2- A local agent comes to visit your property. You have seen their presence in the town. They suggest the highest valuation (much more than you were actually thinking) and even though the local comparables suggest that the price is high, you choose this agent based on the fact they have given you the highest price.
Although as agents, our job is the get you the best price possible for your property, it is also important to be realistic and aware of the problems you may have pricing the property too high. The impact from the initial launch of your property is only available once, so make it right from the outset. Pricing the property much higher than it should be can result in your property sitting on the market for much longer than needed and an eventual price reduction.
Agent 3- You meet with this agent who has a personable, friendly yet professional approach. They talk to you honestly and frankly whilst baring your needs and queries in mind. They show you how they have come to the valuation on your property using their comparable tools and showing you other recent, similar properties the agency has personally sold and the type of applicants we had for those properties. This is really important in recognising your market and how best to present and sell your property. Although they don’t suggest a valuation as high as Agent 2, the valuation is in line with what you were thinking and still provides you with enough profit to move on to your next property. This agent also discusses their colleagues at the office and how they will guide you through this process from this point right through to completion.
In this instance, who would you chose? It seems obvious right?
Look out for these signs when deciding to market your property. Your property is usually the biggest asset you own, don’t just go for the cheapest fee and highest valuation, you and your home deserve much more than that!