Selling a house is a lot of work and going to the right person to help you secure a sale is essential. If you’re selling for the first time and aren’t familiar with estate agents processes, or want to make sure you’ve not missed anything when you start looking, the list below should help. Its full of important questions to ask before you choose your estate agent.
- What are the fees?
- What advertising is included?
- What type of contract needs to be signed?
- What tie-in period do they have?
- Are they regulated?
- How long will selling with them take?
- How much is my house worth?
- Will they handle negotiations?
- Are they easy to contact?
- What will they do if your house doesn’t sell?
- What Are Their Fees?
Fees will differ agent to agent, so it’s vital to find out what they charge. As standard, agents will charge anything between 1% to 3% and can be higher if you’re not careful. It’s also important to ask if their fee is inclusive of VAT. If not, you could be hit with an unexpected 20% extra to pay! Knowing what the fee is will prevent any nasty surprises down the line. You must make sure you ask when this fee will be due. Ensure that you’re not liable to pay anything until your house sells!
- What Advertising Is Included?
Find out what the agents do for their advertising. Do they include floor plans, professional photos, for sale signs? Do they host the viewings, or are you expected to do that? Know their advertising process and make sure that you know exactly what service you’re paying for. You don’t want to be caught out and realise that you’re getting less than you expected.
- What Type Of Contract Needs To Be Signed?
There are a few different contracts that estate agents can offer, and there are critical differences between them. Make sure you know what you’re signing and what you’re agreeing to.
- What Tie-In Period Do They Have?
This can vary from 4-20 weeks depending on the agent you’re going ahead with, so knowing their time frame is a priority. It means that if, for example, after 12 weeks of your house being on the market with little interest, you can move to another agent without incurring fees.
- Are They Regulated?
Check if the agent you’re looking to go ahead with is signed up to any regulated associations. These regulations should make them more trustworthy and give you some comfort in knowing the level of professionalism that you’ll receive. You don’t want to be conned or lose the value of your house by working with an agent with a bad reputation.
- How Long Will Selling With Them Take?
This really is like asking “How long is a piece of string?” and therefore the agent cannot give you a definite answer. But they should know enough about the area, the market and your property to provide you with an outline timeframe. Asking about other houses on the market in a similar area and similar price range to you can also be helpful, as you can see how long it took for them to sell and get a better idea of what you might be facing.
- How Much Is My House Worth?
If you can, it’s a good idea to have your house valued by a few different estate agents. This will give you an average to work off. Hopefully, all of the valuations are in a similar region. If there are significant differences, you may want to delve into the reasons behind their assessment and check there aren’t any hidden problems in your house you’re not aware of. I cover in more detail in another blog how you can better understand the value of your property.
- Will They Handle Negotiations?
Find out just how much your agent will be doing for you. They should be keen to see the sale through and get you the best price possible, but don’t assume that this is part of the service. Find out every step of their process and know everything they offer.
- Are They Easy To Contact?
How easy is it to get hold of your agent? Do they live locally to you, and do they answer their phone every time you call? There’s nothing worse than trying to get hold of someone and not being able to reach them, so you want to make sure that your agent is accessible to give you the best experience during your sale. Of course at times it may not be possible for them to answer straight away, but it is important that they return your call or email in a timely fashion.
- What Will They Do If Your House Doesn’t Sell?
Your agent should do everything they can to get you plenty of viewings to try and secure a sale. Knowing what they offer if a house is struggling to sell is crucial so you know that you can count on them to do as much as they can if the house is sat on the market for some time. Whether that be increasing advertising or trying to source potential buyers from other areas, make sure that your agent will be proactive in selling your house and that it isn’t left to you to deal with if things don’t move as fast as you’d like.
You don’t have to sell your house with the first agent that you speak to. Understanding the various agents in your area and what level of service they offer is important, so you can make the right decision for you. More and more homeowners are having bad experiences with estate agents, which is why we do what we can to avoid those downfalls.
With your legal fees taken care of, no commission, and free valuation, Olivia Rose Estates will do everything we can to make your house sale a comfortable experience.
