If you have a property to sell, then it’s only natural to wonder about the benefits of using an estate agent versus flying solo. The bottom line is that you want to end up with as much profit as possible. So why pay to use an estate agent who will claim their cut?
Here, we will outline the many benefits of using an estate agent to sell your property. We’ll also dive into some of the most frequently asked questions about using an estate agent, including: how to decide which estate agent to use, the importance of online marketing, and sole versus joint agents.
What are the benefits of using an estate agent?
As with accountants and other professionals, a good estate agent can actually help ensure as much money as possible ends up in your pocket. Who wouldn’t want that?
1. The estate agency fee is only payable when you sell
Let’s begin by stating a simple truth; your estate agent only earns their share of the sale price once the property has been sold. That means that it’s absolutely in their best interests to get your property sold. If they don’t, any legwork and hours they’ve put into trying to sell your property will all have been for nothing.
2. An estate agent is a marketing expert
If you’re still wondering if you should use an estate agent, you might also want to think about if you really have the know-how to market your property in all the right places. Can you target potential buyers quickly and effectively? Your estate agent has the benefit of years of experience when it comes to marketing your property to the people who are most likely to buy it.
3. Your estate agent will know the local area
Not only does your estate agent know all about marketing, they will also be very familiar with the local market – and the local community. When considering whether you should use an online estate agent, it’s wise to remember this. An online estate agent may not have such in-depth knowledge of the neighbourhood.
4. An estate agent can get you the best price
Yes, you need to pay your estate agent a fee – but the amount they can help you sell for may far outweigh what this fee costs. Not only are estate agents skilled negotiators, they can also target the sort of buyers who will pay more and see the sale through to the very end.
Don’t forget, your estate agent earns a percentage of the sale price, so it’s in their best interest to sell your property for as much as possible.
5. Your estate agent will keep the wheels turning
If you haven’t sold a property before, or for some time, it may surprise you to learn that an estate agent can often make all the difference in making sure the sale completes smoothly. Acting as the go-between for buyer and seller, they can swiftly convey vital information between parties to ensure all the legalities are completed fully and as swiftly as possible.
6. A local estate agent has local contacts
If you need a last-minute boiler service to cajole your buyer into making the final commitment, then the chances are your estate agent can find you a good gas engineer – even at short notice. The same goes for decorators, solicitors and so on. This can be invaluable when you have a job that needs doing quickly – and to a high standard – in order to complete a sale.
7. Your estate agent can save you so much time
If you lead a busy life, then why not let someone else take care of the day-to-day business of selling your property? Marketing, arranging viewings and negotiating can all be stressful and time-sapping tasks. But there’s no need to concern yourself with these when in the trusted hands of a seasoned professional estate agent.
8. An estate agent has a trained eye
From the conditions of your property to spotting a potential fraudster, a good estate agent knows just what to look for to help ensure a smooth, painless sale for you, the client. From reasons why your property may be worth more to detecting and handling potential pitfalls before they become a problem, your estate agent can help make sure everything goes according to plan. Tell them everything upfront, warts and all, as a good agent will have solutions for all property related issues.
Why you should use an estate agent – FAQs
Do you have to use an estate agent?
In theory, here in the UK you don’t have to use an estate agent. Remember, though, that they don’t earn their fee until you sell. When a good agent can save you time and stress while ensuring you make more money on the sale, why wouldn’t you take advantage of their professional expertise?
What about using the same estate agent to buy and sell?
Using the same agent to buy and sell can be advantageous, as you only need to deal with one party who will know what’s going on at each end. However, being based in the right area and having access to the right buyers is key. Using one agent to buy and sell also means that they’re working for the benefit of both parties, rather than just you.
How many estate agents should I use?
It’s always more cost-effective to use a sole estate agent. This way you only have one party to pay, rather than two or more. Unless your agent isn’t doing their job properly or has no access to part of the market, there’s no good reason to use multiple agents.
Why use a high street estate agent rather than an online estate agent?
Online estate agents charge you upfront regardless of whether you sell, whereas a high street estate agent will only charge their fee when you move. A good high street agent will market the property better, have a waiting list of local buyers, achieve more viewings and have more offers on your home. This will lead to better quality and most likely higher agreed price covering those higher fees and leaving you with more money from the transaction.
What about using an estate agent for rental?
If you want to let a property, then an estate agent can find you reliable tenants without delay. With all the appropriate checks and paperwork taken care of, all you need to do is sit back and watch the rental income roll in.
Why use an estate agent?
There are numerous reasons why you should use an estate agent. Leaving property sales to the professionals means marketing your property to the right buyers, quickly and effectively. An estate agent has an incentive to get you the best possible price, and knows just how to make that happen.
A good estate agent can also ward off potential problems, be proactive in ensuring the sale progresses and save a seller a lot of time. As well as making you some extra money in the process.
Are you based in South East London and thinking of selling your property? Get in touch with the Stanford team to discuss how we can help, or arrange a free valuation.