Choosing An Estate Agent

Below we explain what an estate agent does, how you can find a good one, and what questions you should ask to ensure that you choose the right estate agent to professionally manage the sale of your property.

What does an estate agent do?

Estate agents work on behalf of the seller to:

Value a property
Market it to potential buyers
Arrange and conduct viewings
Arrange or provide ancillary services (HIPs, mortgages, conveyancing, surveys)
Manage offers
Liaise with other professionals involved in the process – mortgage providers, solicitors, surveyors (chains)
Hand over the keys on completion day

How to find a good estate agent

Word of mouth: Sellers should check that the agent has a good reputation. Ask around and neighbours will always have a point of view: word of mouth is very valuable.

Sale boards: Estate agents with a lot of For Sale boards in your area may be dynamic and successful, but don't make a decision based on that alone. They may also have attracted a lot of sellers due to over-optimistic valuations.

Use FindaProperty.com: Use FindaProperty.com to check which estate agents are most active in your neighbourhood.

Which estate agents are selling properties similar to yours?
How well do they present their properties?
Do the property ads come with pictures, floorplans, and plenty of descriptive detail?

Check the local press: Do they advertise in the local press and in local magazines?

Pretend to be a buyer: Pop into their office pretending to be a buyer. The seller should be looking to see if the branch is busy, if they receive a good service from a buyers’ point of view and the types of properties that are suggested to them. The question really is: do I trust these people to sell my house and do a great job of it?

12 questions a seller should ask an estate agent

Once you've checked them out, choose three or four who look promising and start asking some tough questions. Here are the main issues that every good estate agent should be able to explain to a prospective client:

Well established? How long have they been in business? Experience and local knowledge can be very valuable.

Experience with similar properties? Do they have experience of selling properties like yours? If not, you may want to look elsewhere. What similar properties have they sold recently? How long did it take to sell and what price was achieved?

Buyers on books: Do they have many buyers on their books looking for properties like yours? Any estate agent worth their salt should have a selection of potential viewers they can contact.

Advertising: How will they advertise your property? Which publications, which property portals? Do they have examples of property details - online and in print. How well are the properties presented? If you were a potential buyer would you be impressed?

Personal contact: Who in their company will handle your sale – one person, or several? How experienced are they?

Viewings: How will they handle viewings? Will they accompany people to view the property? Do they work in the evening and at weekends?

Property Chains: How do they manage the process? Once a sale has been agreed, managing and communicating with the chain is very important. The agent needs to keep all parties happy and the deal on track. Ask for examples of recent deals, and the kind of problems you might encounter in the current market.

Professional Affiliations & Redress: How do they handle complaints? Since 1 October 2008 all estate agents have been required to register with an Estate Agents Redress Scheme that has been approved by the Office of Fair Trading (OFT). The two main redress schemes are The Property Ombudsman (TPO) and The Surveyors Ombudsman Scheme (SOS). Many agents are members of professional bodies like the National Association of Estate Agents (NAEA), the Royal Institution of Chartered Surveyors (RICS), and the Guild of Professional Estate Agents (GPEA). This means they have to abide by a code of practice and can be subject to sanctions from their governing bodies. If your agent is a member of these organisations you can pursue a complaint through their internal processes. However, they must also be members of the OFT approved schemes and you can also seek independent redress via the TPO or SOS.

Property Valuations: How have they arrived at their valuation? Ask to see similar properties that they have recently sold. Ask them about the current market and what can be done to secure a sale. Sellers should be immediately wary by an agent who over-values their property. Don't trust an agent who always tells you what you want to hear.

Estate Agent Fees: The key issues are: how much do they charge, how do they charge, and are they willing to negotiate on the fee? Are there any additional charges on top of the fees, and what are they for?

Contracts: Ask to see their terms and conditions. How binding is the agreement, and how easy will it be to leave them if they're not delivering results?