Have you ever wondered what agents do to earn the huge fees they earn when they sell a home? Find out the ways they can help you market your property, make an offer and ensure you’re able to get it through to the end.
Help you determine the value of your home
An estate agent can be in a position to provide you with an experienced view of how your home’s value is and set it at an appropriate value to sell. They’ll use their experience in the local market for property as well as the sold prices of homes in the area similar to yours, as well as the Land Registry to give you an accurate estimate of what houses similar to yours are being sold for and the reasons you may be able to offer higher or lower.
It is crucial to do your research first , so that you can have an idea in your head. For this, begin with a no-cost instant online valuation, and then looking up Land Registry figures. You should then get three appraisals from an estate agent as some companies might employ the technique to overestimate the value of your house in order to make sure you are an agent. An agent who is competent is familiar with the qualities buyers in the region are seeking, and will be able to inform you if it’s worth making improvements to the appeal of your house in order to get a better price. They must be able to impress you with their local expertise and experience in selling homes similar to ones like yours.
If you’re thinking of hiring an agent for online transactions it’s an excellent idea to seek three valuations from top-quality companies as online agents typically do to lack local market expertise and are therefore heavily dependent on data from the internet to carry their valuations.
Sell your home
Your estate agent should make arrangements that your home be professionally photographed, have an accurate floor plan drawn and create a precise, complete, appealing description of your property for use on the flyer, the window in the shop and on the property portals with the largest numbers.
It is not necessary to pay additional fees for photography or the other basic necessities since they are all included in the % price an estate agent charges to market and sell your property. Check that your photos are of the highest quality as they’re crucial to draw a lot of attention. If they are not, ask for new pictures to be taken. Also, take a look at the details of the property. They must be accurate in order to avoid any problems later on the road.
Your estate agent is in a position to explain what the main property websites operate including Rightmove and Zoopla as well as have accounts with them to ensure that your home will be listed on these websites.
Before you can begin selling your home , it’s legally required to possess at least an Energy Performance Certificate (EPC) that provides prospective buyers with the property’s energy usage and typical costs. The property will be awarded an energy efficiency rating ranging from to (most effective) up to G (least effective) as well as the EPC can be used for a period of 10 years. Your estate agent can arrange this for you at cost. Request a quote from your estate agent, but look around. If you bought your house in the past 10 years, you could have a title certificate that has not expired.
If your property isn’t selling at the speed you imagined – or as quickly as your estate agent has promised, talk to your estate agent to inquire why this is the case. You’re paying them to advertise your property to make a sale happen, therefore ask them why the house isn’t selling. Keep in contact with them, asking feedback from their viewings as well as what they’re trying to do to promote your property.
Compare and find local estate agents on the basis of the rate of success as well as speed of sale. their track record in achieving the price they have set for themselves.
Conduct watching
Your estate agent will organize visits to your property and show potential buyers around the property, answering any queries or questions that buyers may might have. The agent must ensure that your home is secure after they leave after viewing.
After your property is placed in the hands of the estate agents, they might have a list of prospective buyers who have expressed interest in properties similar to yours. They’ll contact them to advertise your property.
Estate agents can also organize an open house at your property , where buyers from all over are expected to visit within a particular period of time.
The benefit of having an estate agent who conducts viewings on behalf of you is that they are perceived as a more neutral person by prospective buyers who might have questions they might be embarrassed asking the property owner. This also takes the stress out of having to take people around your house. If you are conducting viewings yourself then you should consider what the estate agent earns getting their commission.
In this case it is possible that you would prefer selling through the help of an estate agency online. They typically charge an upfront fee (which is less expensive than the commission percentage high-street agents charge) however, it is due upfront i.e. whether you decide to sell your home or not. The standard procedure for estate agents on the internet is to demonstrate potential buyers around the property you own. Hybrid estate agents such as PurpleBricks or Yopa are becoming more popular since they provide an expert from the local area to organize viewings on your behalf. Other estate agents on the internet are becoming more and more like them, offering an additional option to hold viewings. However, these are usually at additional costs So, talk to the agent about the number of viewings available, and what their extra cost will be as well as who will conduct the viewings, and what the procedure will be in real life.
Manage negotiations
An essential part of the job of an estate agent is to handle negotiations and serve as a liaison between prospective buyers as well as the owner of the property. Offers must be sent directly to an estate agent, who will forward them to the owner, and as well, relay the response of the seller to any offer made.
In this time an estate agent may assist buyers, but they must always put the client, the seller first. Their goal should be to secure the highest value for their property.
If you’re considering offering a price for an property, you can contact your estate agent more details about the situation of the owners. Have they found their dream house and are they in the need of a fast sale or do they require someone willing to sit and wait for a new home? Buyers are also able to be able to determine what kind of offer could be accepted by the seller via an estate agent.
Verify that whether the buyer’s credentials to ensure that the
According to the Property Ombudsman Code of Practice Estate agents are required to be able to figure information from buyers about the origin and amount of their funds to purchase the property. They must then relay this information on to the seller. This includes whether the buyer has to sell their property, needs the assistance of a mortgage or asserts that they are cash buyers and/or any other combination. Most often, they’ll ask the buyer to present the agreement of principle with the mortgage lender to show they’re in a good situation to pay for the purchase. Learn more by reading our guide to proving money.
In this Code, estate agents are legally required to make all offers on the table for their clients, you the seller even if the buyer isn’t financially qualified at this point. If you take an offer it’s then the responsibility of the estate agent to monitor regularly the buyer’s progress towards obtaining the amount required and to keep you updated.
This information should assist your estate agent Knutsford to advise you about the position of the buyer and also how serious or effective an offer. You should have the ability guide you on whether or not you want to accept the offer, however, ultimately the choice is yours.
Keep things moving
If your offer is accepted or have had an offer accepted the estate agent must issue an Memorandum of Sale to the seller, buyer and their solicitors, providing all the details they require about the other, as well as their respective solicitors.
Many think that an estate agent’s work is done after an offer is accepted and accepted, however, this is when an experienced estate agent can truly shine by ensuring the deal is accepted without causing any issues down the chain, and getting to get to the most crucial parts of contract exchange and the date of completion. In this time, your estate agent will serve as your advisor and your nagging aunt during the ups and downs of the sale process. You are able to lean on them to the extent or in as small a way as you like.
Selecting the right estate agent
When you are choosing an estate agent make sure you choose an agent who claims they can sell your home at the most amount or who has the lowest price.
Before you instruct an estate agent
Check the fine print of the contracts they sign attentively. There are hidden costs and untruthful practices, such as lengthy tie-ins.
Beware of agents who promote internal services
Don’t be you are being pressured to use the estate agents’ partners like their conveyancers or mortgage brokers that they have a commercial partnership with. Make sure to use an in-house broker that has a wide range of lenders, or covers the entire market. If you can, get quotes from the recommended services by the estate agent , from conveyancing, mortgages, to removals, but look around to ensure that you’re getting the most value for money.
