How To Choose An Estate Agent
Updated: Sep 21, 2021
There are many estate agents in Birmingham all competing to win your instruction. But who should you hire? How do you determine which estate agency has your best interests in mind rather than their own? In this article, we will highlight some of the key factors people should consider when choosing which estate agency to sell their property.
Ensure There Are No Up-front Costs
If an estate agent insists that you pay for their fees up-front, where is their motivation to sell your property? A lack of motivation could result in fewer viewings being booked, less time spent contacting potential investors or chasing up solicitors, all of which could delay the selling process.
Alternatively, if you instruct Matthews Estate Agents to sell your property, we won’t charge you a penny unless we are able to get your property off the market. That way, you can feel assured that we are determined to do all that we can to sell your property.
By choosing Matthews Estate Agents you also gain the flexibility to be able to test the market, gauge people’s interest in your property, and even take it off the market if you change your mind without incurring any costs.
Ensure The Valuation Is Realistic
When you request a valuation from an estate agency, make sure they are able to show you properties within a mile radius of your home that were sold within the last six months. An estate agent wants to win your instruction, and a common strategy is to value your property higher than competing estate agents. However, by doing so, the estate agent is doing a disservice to you. It is critical that you choose an estate agent that provides a realistic valuation of your property with evidence to back up that valuation, and with Matthews Estate Agents, we will do just that.
An excellent strategy to use as a seller is to do your own research of similar properties in your area that were sold within the last six months and request several estate agents to value your property. By doing so, you will have a rough idea of what your asking price should be, and any estate agency that values your property either much higher or lower than that isn’t giving you an accurate valuation.
The Pitfalls Of An Overvalued Property
When you are selling your property, you are competing against other properties on the market. Buyers tend to do their research, and if they can find a property similar to yours but for a cheaper price, what is their incentive to make an offer for your property?
Additionally, when a property is overvalued, you risk your property listing becoming stagnant. This isn’t ideal if you are looking for a quick sale, especially if you are part of a chain. What’s more, overvaluing your property will often result in the asking price being reduced in order to gain some interest in your property, and in some cases, this leads to the property being sold under market value.
Whereas, if an estate agent provides you with a realistic valuation, your property is likely to gain a lot more interest which, in some instances, can result in your property being sold above the market value with multiple buyers putting forward their best and final offers.
Always Ask Questions
Many of you will have had to endure a gruelling job interview at some point, but now it’s your turn to be the interviewer. Don’t be afraid to ask questions. It’s your property after all, and you should feel assured that the sales process runs smoothly and with capable hands.
Some of the questions we recommend asking are:
What prices have you achieved for properties similar to mine?
How many years of experience do you have as an estate agent?
Are you prepared to offer viewings during the evenings or weekends?
What would be your plan of action if you were struggling to sell my property?
Compare Their Sales Packages
Each estate agency charges different fees and offer different services within their sales packages. For example, at Matthews Estate Agents, we offer unlimited accompanied viewings meaning you benefit from our agents highlighting the best features of your property at times that might not have been convenient for you to do so. For more information on the benefits of accompanied viewings, you should read our article here.
As well as comparing what’s included within a sales package, it is also worth comparing the price that the estate agency charges for those services. For instance, at Matthews Estate Agents, we only charge 1% of the sales fee, which, when compared to other estate agents in Birmingham, could save you thousands of pounds. The money you save could go towards decorating your new home.
Click here If you want to find out more about what Matthews Estate Agents has to offer as part of their sales package.
Let us know in the comments section how you decide which estate agency to hire.
And if you require an estate agents in Birmingham, contact Matthews Estate Agents using the contact details below or visit our website here to find out more about us and what we can offer you. Tel: 0121 358 0008 (Lines open Mon - Fri 09:00 - 17:30) Email: firstname.lastname@example.org