Step 3 Choosing an Estate Agent
Updated: Dec 22, 2018
The world of property selling is changing, more and more people now search for their next property online, using the property portals available such as Rightmove, Zoopla and Primelocation etc to name a few.
You can also take an active part in establishing your property’s value by looking at what all similar [properties are being marketed for and sold for in and around your area.
Some of the classic differences between the types of estate agent are summarised below;
Typically these tend to charge an upfront set price, which can be great value, if you are OK with paying out typically £600 - £1,200 upfront. Some do offer payment after a set period of time eg 6 months or 12 months, but typically you must pay their fee, whether the property is sold or not. So it could be argued as to whether they have any vested interest in your selling it or not.
Another area to consider is if they are supporting viewings and the sales negotiation process
HIGH STREET ESTATE AGENTS
These are the long established operators within your area, that tend to have a high street branch for people to browse property details and of course house all their staff.
Pricing varies but typically it can be 1.5% + vat of the sales price.
High street agents can be a great avenue for some people, although many consumers are now becoming quite consumer savvy, and seeking the best value for their hard earned money.
There has been a lot of talk about Hybrid Estate Agents recently, lets try and explain what they are. They are essentially a ‘blend’ of both.
1. ‘Online Agent’ - so properties tend to be marketed via the main property websites
2. ‘Traditional Estate Agent’ – in that they still provide support with the sales process and viewings etc
The key advantage of the Hybrid Estate agent is normally price – as many will charge between 0.5% to 1% + vat, which can be a considerable saving for some sellers.
Look at an agent that markets the property on the main portals like Rightmove and Zoopla. Just because you pick one agent it doesn’t mean you have to sell your home at the price they gave at the valuation. It’s your home, and you can decide what you sell it for.
Top Tip !
Choose your estate agent that gives you the best blend of service and price