Choosing an estate agent
The estate
agent sells your house for you
– and they try to make sure they get the
best possible deal in the specified time.
You pay them a
fee for acting on your behalf, so you need
to make sure you employ a reputable firm.
Ask the estate agent if they are a member of
the NAEA and if the are signed up to the
Estate Agents Ombudsman (they will need to
be if they are selling
HIPs).
Using local
agents
Here are some points to follow before you make a decision:
·
When getting
valuations from different agents – bear in
mind the highest figure may not be the most
realistic
·
Check their
terms and conditions - charges may vary
·
Find out
exactly what you’re paying for – how the
agent will advertise your property, and
where
·
Home
Information Pack – check how this is paid
for and when
·
You may be
able to negotiate fees, although most agents
charge a standard fee based on a percentage
of the selling price.
·
Agree a
maximum selling time. If you’re happy with
the service, you can always extend it – and
if you’re not, you can change agents when
the time’s up
·
Last but not
least, try and choose an agent you like –
selling a house can be a long process, so
it’s important you get on.
Types of
agency
There are different types of agency
contracts which you can enter into. These
are:
Sole agency
This is where one estate agent takes full
responsibility for selling your home, and
you pay them the agreed commission on
completion. If you agree a sale privately
you might also be required to pay
commission, so check the contract.
Joint agency
This is an arrangement where two or more
agents sell your property and share the
commission when the sale goes through –
regardless of which agency makes the sale.
Multiple
agencies
This is an arrangement where you sell through more than one agent,
but instruct them independently – so whoever
sells the house gets the commission.
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