Tips on Finding the Right Estate Agent for You

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For every buyer and seller of property, the goal is to get the best deal possible. Many do not realise that meeting this target depends very much on the choice of the estate agent. So many details of the transaction are handled by the agent, so the right agent can ensure a “good” purchase or sale of property. If looking for properties in the South Yorkshire area, the proactive Redbrik Sheffield Estate Agents would be a good choice.

Given below are a few tips to find the right estate agent for you:

Research: 

Besides personal recommendations, it is advisable to check and see which agents in the desired area are qualified and have sold similar properties with their price brackets.  Although it may seem that your property will not be noticed amongst a host of similar ones, the advantage is that such an agency will also have many potential buyers for your particular property type. Online listings for your desired price can be searched and shortlisted with the agents who have the highest matching number.  Also, those agents who are members of trade bodies have to comply with a code of conduct.  This could indicate more diligence and professionalism. Details are usually available on the agent’s website itself.

Enthusiasm Against Apathy:

An estate agent’s list of buyers and sellers can be vast, but it is only if they are proactive that the required result can be achieved.  It is best to interview the agents shortlisted to ensure their marketing skills are high enough to encourage interest in the desired property. Questions need to be asked to ascertain whether they are knowledgeable and sincere. By finding out their fees, the type of property valuation conducted and the reasons for the same, the method of advertising the property, how the viewings and sales will be handled, their experience of selling similar properties, the reasons for choosing them over other agents, etc can give you an idea of their dedication and comprehension of the market. The main question to be asked is “How much interest in my property can this agent generate?”

Multiple Valuations:

It is advisable to have at least 3 agents value the property.  The figures will probably differ. A too high valuation may be just an inducement to get the business and may result in the property lying vacant or with price reductions which will show up on digital searches and put off potential buyers.  On the other hand, an undervalued property may result in a quick sale but at a lower price.  The agent who proves honest and fair in his valuation is likely to be the most efficient.

Sole, Joint Sole or Multiple Agents? 

A sole agent is a single estate agency which will handle the entire transaction.  This may take a longer time to complete, but the commission will be less and paid to the one agency.  Multiple agents are 2 or more who will compete to sell the property.  They will have more potential buyers and competition. The sale may go through quickly, but only the successful agent earns the commission which will be higher. Joint sole agents are the in-between, which share the commission and do not compete with each other.  These are usually used for prime properties in different markets.  The choice of the type of agent depends on your circumstances – financial, whether or not you are in a hurry to buy/sell, the market conditions and the type of property.

Check Fees: 

Clarifications should be sought on the fees of a sole agency and the tie-in period against those of a multi-agency, before a final decision is taken. Also, “hidden fees” should be looked at and included in the estate agent’s fee.  Costs for marketing, organising and managing viewings, taking photographs, landscaping, floor plans should be a part of the fee.  VAT, if applicable, needs to be taken into consideration. One piece of advice is to choose a “no sale, no fee” agent which affords some security. Negotiations on fees are expected, so try and bargain for a lower fee.

Documentation:

It is important to go through the terms and conditions. Sometimes there isn’t a percentage fee – especially for less expensive properties, a set fee may be charged.  Ensure that all terms are included in the contract.  The lock-in period for a sole agency can vary which can prevent approaching another agency.  If it is a “sole selling rights” contract, you need to be wary as, even if you find a buyer yourself, the agent is the only one authorised to sell the home and will have to be paid.

Conclusion:

As you can see, there are many aspects to choosing the right agent. There are also negations to choose the wrong agent. It is vital that your choice is not dependent on the cheapest agent, but on the one who will give you the best deal for your money.

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