Can You Trust an Estate Agent?
There is a tag that can sometimes be placed on to, possibly by slightly older generations, the phrase that you should never trust an estate agent. Rather like the second hand car salesman, the estate agent was seen as the dodgy dealer over charging you for a not so good service. Times though change, improvements are made and any negative tags can be shoved off with continued better services and regulations. In the past mostly, less frequently today, rogue estate / letting agents are exposed and usually when this happens they reach the MSN channels who’s notorious reputation sees them tarnish the industry over the individual.
Let’s face it, when we engage with an estate agent we are inevitably likely to be paying out handsomely for their service. Some consumers may say it is a tiny price to pay, others will moan at the % service charge (well, we all like to get something for cheap, but of course we can not expect exceptional services built on discounted fees).
My view point is that you do not have to use the service of an estate agent if you don’t wish to, right? You can go for it yourself and who says you won’t achieve a sale (or a purchase)? Though, I see figures of 95% and above of property sold today goes through thanks to estate agents so surely there is a reason for such a highly used service? If it were that bad then surely usage figures would be way lower or is it because through gritted teeth the public uses estate agents cause they simply get the job done? For an industry that has lasted for well over 200 years (Chestertons dating back to 1805) and remained buoyant even following the birth of the internet then Estate Agency can’t be all that bad at what they do?
“For years we have been tinkering with ‘sell it yourself’ ideas or even online estate agency only concepts and they have emerged and faded away with even top trusted and loved TV property show presenters leading them with no success. Another indirect point score for genuine high street estate agents.”
Up and down the country in villages, towns and cities we will see high streets with estate agencies full of property listings in their windows. From single chain to multiple, young and innovative to those with years of family history in turn gives the consumer plenty of choice. For me, this is the single most important thing to consider in order to get the service and experience you are after – Choosing the right estate agent for you.
Just like you would for the best mobile handset and talk plan, or taking the new car for a test drive first, then simply take that attitude with your estate agent and do plenty of research prior.
Questions to ask the estate agent:
- Which has the best local reviews?
- Which has more success selling the type of property I have?
- Do they use Rightmove / Zoopla / local newspaper ads?
- Have they a national network?
- How much are their fees and it is negotiable?
- Will they manage all viewings?
- What photography / video / floorplans will they be offering?
- What are the contract details, ie length of / terms.
As with most things in life I suggest you test each agency out initially by requesting a valuation on your property, this enables you to meet a team member, ask questions and compare their service.
What does a good estate agent look like?
- They will communicate with you regularly.
- They will keep all promises and deadlines.
- They will be realistic with you over valuations / offers.
- Display knowledge and guidance and listen to your needs.
Remember that negative reviews online stick, many that I researched were of several years ago where the estate agency has since closed or changed hands so make sure you get up to date comments / feedback.
The estate agency industry is high regulated today far more than it was a generation of so back. Not only will the principle rules be set out officially via the government in the Estate Agents Act 1979 (EEA 1979), but there are also independent bodies with codes of practise to maintain ethics and importantly, standards. The consumer is highly protected and can trust in the integrity of the industry today and this is thanks to the past as always in life – Endlessly learning from mistakes to make improvements, looking to achieve higher success rates for the client and gaining more a positive review status than before. As technology (#PropTech #PropertyTechonolgy) advances then the service becomes more streamlined and less intrusive, estate agents may seem that they merely advertise your property and sell it easily, but there is an increasingly finely tuned engine in the back ground.
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