The short (and somewhat obvious!) answer is to sell your house, or to find you a new one to buy.
However, there are numerous steps leading to either of these two outcomes, and in this article, we’ll be exploring what services you can expect to receive for your hard-earned money.
Marketing
Marketing is one of the most crucial roles that an estate agent can provide to a seller, so before you instruct be sure to enquire as to where they’ll be advertising your property (hint: in the local press is not good enough!). Some high street agencies are part of a larger chain, whilst others are independent or part of a franchise, and as a consequence marketing budgets can vary quite substantially.
As with all sales related services, success is the key when choosing which one to use. If you are selling, look for boards with ‘sold’ or ‘under offer’ on them; one agent may have a lot more than another. Also, you may find that one particular agent appears to have had more successes in your area than their rivals, which will almost certainly be an indication of a proactive sales approach and good local knowledge.
Getting your property sold
Your estate agent will be responsible for everything related to your property sale. You will be obliged (if you don’t want to put off a potential purchaser) to keep your house clean, tidy and well presented at all times. Usually the agent will call to arrange a convenient time for a viewing, but sometimes it can be at very short notice. An alternative is to use an online or hybrid estate agent (such as Yopa!) as you will be able to manage viewing enquiries directly and choose a time and date to suit both parties.
If required, an estate agent will also be able to conduct viewings on your behalf, although some people prefer to do this themselves. There’s no right or wrong way of doing this, so go with whatever you prefer.
At this stage, estate agents will also:
- Put up a ‘for sale’ board if you wish.
- Act as a go-between for negotiations between buyers and sellers.
- Handle all relevant paperwork.
- If there is a chain involved, they will monitor all the links.
- They will liaise with both sets of solicitors.
- They will deal with any problems that might occur throughout the sales process.
Estate agents are there to take the stress out of buying and selling, but to save money many sellers are now choosing the option of an online or hybrid agency, especially as there are now several companies who provide equivalent services to their high street equivalents. The biggest difference is that they charge a fixed fee of between £800 and £1,500, depending on the package you choose. These agencies usually guarantee advertising on prime sites such as Rightmove and Zoopla, and include the services of a dedicated local estate agent as well as photos, a professional advert and floor plan, a ‘for sale’ sign, and more.
Buying through an agent
If you’re a buyer the agent for each property is there, first and foremost, to show the property to you. They will accompany you on your viewing (unless the seller is conducting viewings by themselves) and should have a good knowledge of the local area, schools, shops, public transport, etc. Once you have found your dream home, you will make your offer through them and they will contact the owner on your behalf. You can tell them your reasons for making the offer and they will explain this to the seller in a professional and honest manner. It should be noted that agencies do not usually get involved with surveyors, although in many cases they can recommend one. Ask them to explain what a Homebuyer Report is and why it’s so important; it will, for example, provide you with protection against hidden faults on such a major expenditure. Agents also:
- Advise you on progress and how long your purchase will take. This can vary depending on buyer/seller circumstances, but the agent will keep on top of all this.
- Answer any questions you have throughout the process, contacting the seller if necessary.
- Recommend local tradespeople if you need to carry out works after completion.
- Advise you on legislation.
There is little doubt that estate agents earn their fees, which is always paid by the seller. Sometimes an agents gets lucky, as they already have someone on their books who falls in love with a new-to-the-market property and a quick sale is achieved. However, more often than not, it takes many hours and a lot of advertising, general marketing and viewings to find a buyer.
In conclusion
If you decide to use an online agency to sell your home, you will be able to see at a glance exactly what is included in the fee. You may well be very surprised at just how comprehensive they are. If, however, you prefer the more traditional route, then make sure that you choose wisely. An agent with plenty of local knowledge, a low commission rate, good nationwide advertising and up-to-date information regarding the local housing market and legislation will be sure to serve you well.
Happy buying and selling and good luck with a successful, stress-free move.
