Estate Agents

In this age of high-speed internet, you might be forgiven for assuming that the role of the estate agent is becoming somewhat redundant. If you can advertise a flat for lease on an online community listings website at no cost to yourself then that obviously seems like a more attractive option than paying estate agents commission. Of course, very few people actually sell houses in this fashion but we can never be too certain of what the future holds.

The truth is that estate agents actually do a lot more than simply advertise your house for sale. They are integral to the whole process and whether or not they are good at their job can have a dramatic effect on the price you receive for your home. Selling your house in the current financial market can be tricky enough without dodgy or inept estate agents hindering the process. To find one that's right for you it's important to bear some things in mind.

Estate Agents do not value your property, qualified surveyors do. However, these demand rather hefty fees to do so and so people have traditionally turned to estate agents who don't value the property, but roughly estimate the home's worth. This is never a solid number and depending on how many estate agents you see and it is recommended that you consult at least three, as prices can fluctuate wildly. The price-tag that an estate agent puts on your home can tell you a lot about them and whether you want to do business with them.

Beware estate agents who estimate a very low asking price. Your home might be a humble one, but a second and third opinion might reveal this estimation to have been part of a dodgy estate agent's machinations to sell your house quickly and make a swift commission for his or herself. Likewise, you may be flattered by an estate agent who proposes an asking price high above what you thought the house was worth, but you should be wary of this too. This is often applied as a sure-fire means of getting a seller's business and usually works. However, once you are listed with that estate agent you are contractually obliged to sell through them and when the offers don't come in to meet the ridiculously high asking price they can drop the price to whatever they see fit and there will be little you can do about it.

Make sure that you read your contract thoroughly and understand all of the estate agents' obligations to you and vice versa. This is important in establishing the commission rates which can differ vastly between different estate agents. Anything between 1.5% and 4% of the final price that your home sells for is an acceptable fee for an estate agent.

Get recommendations and find out whether the estate agent has a good reputation within the community, or else their name above the For Sale sign will drive customers away. In short, when dealing with estate agents, apply the same common-sense rules you would with anyone you were conducting business with and always make sure that you are well-informed about the property. When you find a good estate agent it's easy to tell the difference: the proof will be in your pocket.

For more information about
">Estate Agents please visit http://www.hamptons.co.uk or contact us at our London Office:

Hamptons International Estate Agents

32 Grosvenor Square, London W1K 2HJ

020 7758 8488