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Hiring an Agent

When hiring an estate agent to sell your property on your behalf there are a number of considerations you need make to ensure to choose the right estate agent for the job. They are as follows:

• Shop around – Make sure you visit a few different estate agents to ensure you get the best possible contract for you. It is also worth asking friends and family, who have recently bought or sold a property, for recommendations as this sort of advice can save you time.
• Valuations – Ask a number of estate agents to value your property before choosing which one to hire. But you should bear in mind that anyone can give you a high valuation figure so check that the price they give you is a result of experience and knowledge of the area to make sure you're not just being told what you want to hear.
• Fees – As the client, the seller is expected to pay an estate agent a fee for selling the property but how much you pay is a matter of negotiation. Many sellers make a deal that a full asking price gets a full fee but pay less if offers fall below it. Also worth noting here is that you may have to pay the fees even if you find a buyer yourself, or if you withdraw from a sale before contracts are exchanged.
• Contracts – Before signing a contract with an estate agent make sure you read the document very carefully; including the small print carefully, or else you may legally bind yourself to the agent for a long period of time. You should also find out whether you have a right to cancel the contract and if you are unsure of any details get advice from a solicitor or the Citizens Advice Bureau. Ideally you want a contract to run on a month-to-month basis, so there is a reasonable length of time to market your property and find potential buyers but you won’t be tied to the estate agent in the long term.
• Sole or Multiple agents – If you choose to sign a contract with a sole estate agent then that agent is the only one with the right to sell your property. With this sort of contract you will still have to pay the estate agent’s fees even if you find a buyer yourself.
• You will obviously want as many people as possible to know that your house is up for sale, so these days many sellers ask a number of agents to act for them on a multiple-agency basis. In this instance only the agent who sells your property will be entitled to commission. If you decide to go with multiple agents, read the contract small print carefully as some may state you still have to pay a fee even if that agent doesn’t sell the property.