Selling Advice
If you haven't sold a property for sometime, you may have difficulty in deciding which estate agent to choose to represent you. We have compiled a list of the questions that we are frequently asked in order to help you identify the differences between companies. We will be happy to expand on any point of particular interest at the time of our appointment.
An Independent or Corporate Company?
Independent estate agents are owned and operated by individuals. Corporate estate agents are usually owned by banks, building societies or insurance companies. Whilst independent companies tend to only have offices in the local vicinity, corporate companies will usually have branches across the country. However, an independent company may have a larger share of the local market or be recognised as the specialist for that area. Plymouth Homes is owned solely by Susan Tamblyn and Ian Mitchell. The success of their business depends on their and their teams ability to sell property.
How will Your Property be Marketed?
Effective marketing of your property is essential if you are going to be successful in finding a purchaser. Ensure the sales particulars produced are attractively presented, with several colour photographs, a floor plan and an enticing description. Check simple things that may help a buyer decide to view, for example, does the agent measure the garden or highlight your properties best features.
Is your Property Priced Correctly?
Without exception, every property is saleable if it is priced correctly. In the current market, it is important to get the price correct in order to effect a sale within a reasonable timescale. If your asking price is too high, you will have little or no interest and you could end up with your property still being available for sale many months from now. Some estate agents will deliberately offer you an inflated valuation. They do this in the hope that you will be flattered and instruct them. When you do not receive any interest they will ask you to reduce your asking price, many times if necessary, until your price comes into line with the correct market price. If you have signed a 12 week agreement you will have little choice other than to agree to the reduction if you are keen to sell. Our view when advising on an asking price is simple. We want to price the property as high as possible without pricing the property out of the market. We are always happy to discuss the basis of our valuation and show you our comparable property report.
How Qualified is the Estate Agent?
Don't be afraid to ask an Estate Agent if they are qualified to advise you. A reputable agent should have many years experience in valuing and selling properties in your area. They should also be able to produce a report showing comparable properties to your own in order to substantiate their valuation. It is advisable to use a company who are members of the National Association of Estate Agents (NAEA). These companies must adhere to a strict code of conduct, ensuring professional, ethical and good business practice. You should also have access to a senior member of staff with the necessary professional qualifications to advise you should a technical problem arise.
Will Your Property be Advertised on the Internet?
The power of internet advertising should not be underestimated. A recent survey showed that 35% of buyers first saw the property that they purchased on the internet. Not all agents have their own website and not all agents will advertise your property on a well known national property portal. Look at the relevant websites before deciding which agent to use. Will they simply put a brief description on their website, or do they put the full sales particulars—to include all photographs, room descriptions and floorplans. The markets leading property website is www.rightmove.co.uk, with 76% market share and over 5 million visits from home movers every month. Plymouth Homes display all their properties on rightmove and it's own website at www.plymouthhomes.co.uk
Does the Estate Agent use Floor Plans?
It has been proven that a professionally produced floor plan can help a property to sell. Not only does it make your property easier to remember, it highlights how the property could be altered to suit your buyer. Floor Plans also lead to more qualified viewings, discouraging viewings from purchasers for whom the layout will simply not suit. Many purchasers find floor plans easier to understand, and a floor plan can be most effective in showing the true scale of a property that is deceptive and appears small from the front.
How Much Does the Estate Agent Charge?
Estate agents fees vary from one company to the next, but are usually based on a percentage of the sale price of your property. Some agents will not mention that the fee is 'plus VAT' so remember to check this with them. Be aware of agents charging particularly high fees. They may be trying to capitalise on a recognised brand without offering a better service. Also, be aware of agents charging too little. Although it may be tempting to instruct the cheapest agent, consider if they can afford to market your property fully for the fee that they are quoting. Can they afford to regularly advertise the property, produce full colour details with floor plans, employ the best quality staff to handle your sale, train their staff to the highest standards or employ enough staff to be able to accompany your viewings. Is it worth risking the sale of your most valuable asset in order to save a few pounds? A recent 'promotion' offered by a few agents is to quote a very low fee percentage that appears to undercut the market. However, hidden in the 'small print' and not openly disclosed, is a high minimum fee meaning that you may end up paying more. Our policy on fees is clear. We charge the most competitive fee we can without needing to compromise on our service. Our fees are always fully disclosed before we commence marketing and our final fee is never higher than our initial quote.