View Full Version : A question on selling up...
I have 3 different estates agents coming to my flat tommorow to value the property.
If I like all 3, could I advertise with all 3, or do I have to make a decision.
(sorry if this seems really obvious, first time seller)
tia
Sly :)
It's your choice. Estate agents may charge you more if you go on with more than one though. We got a better deal because we signed a sole agent agreement (for 8 weeks)
skyblueheroes
19-04-2007, 21:25
I have 3 different estates agents coming to my flat tommorow to value the property.
If I like all 3, could I advertise with all 3, or do I have to make a decision.
(sorry if this seems really obvious, first time seller)
tia
Sly :)
Its such a con imho. I would go with all three. When we sold a flat we had it up with 2 and the one we didn't sell it with started to get ar$ey and said they 'could' charge us. I think he was trying it on.
However, read the small print and question each one properly when they come round to see what the rules are.
Tightscot
19-04-2007, 21:26
Aye, most agents charge you a lower fee if you use them, and only them (sole agency like ramrod said)
also worth thinking about it before making the decision - the one who values the property highest may not necessarily be the one to go with...
can you get any recommendations fro friends/neighbours, check local press and see who has best ads, any of them seem to specialise in flats etc etc
Rob is probably the man to ask here.....
superbiatch
19-04-2007, 21:28
AFAIK you have to pay an amount of commission to each of them if you sell :confused:
I sold my house and was advised to go with the middle suggested houseprice. Its a buyers market atm in most places, and i'm sure you won't go far wrong selling with the right estate agents.
I'd do some research on who seems to sell the most houses, most reasonably priced houses and if you feel you are in control (remember they are there to sell your house - not try to get you to sell quick so they get their commission).
Silent Wings
19-04-2007, 21:36
Why not have a look on www.ourproperty.co.uk (http://www.ourproperty.co.uk) and search by your postcode to see what others have sold theirs for.
Wicked_and_Crazy
19-04-2007, 21:41
How confident are you of selling and how quick do you need to sell.
Its worth getting 3 in to get an average price but as others have said if you go on as sole agent they should charge a lower % than if you go multi agent.
If you decide to go sole agent set a deadline for the sole agency period
superbiatch
19-04-2007, 21:46
This is something i used when buying this place, not too sure how widely used it is http://ononemap.com/
They should do the house price up for free, or a very small fee.
You then have no obligation to sell it with them and can go to whoever you wish.
Or even sell privately.
wow.. so much info.. :)
thanks peeps... gives me an idea what to expect tommorow. I went with Brian Holt, Robin Jones and Whitegates all on personal recommendations. We bought the flat last year for 96k, but are hoping for about 115k if possible. Need a quick sale so price will be negotiable to potential buyers.
(obviously Ill keep that under my hat for now) ;)
Plus its all new build (not even a year old) and the original sellers told us it had gone up in value by 10k. (but then they would really, wouldnt they) :monkey:
It's your choice. Estate agents may charge you more if you go on with more than one though. We got a better deal because we signed a sole agent agreement (for 8 weeks)
Ive heard about the short term contracts (8 weeks onwards) is there any advantage to this. :confused:
joglynne
20-04-2007, 09:17
Yes. It puts pressure on the agent to keep pushing your flat as they are aware that if you don't feel they are doing a decent job you can move to another agent.:)
Yes. It puts pressure on the agent to keep pushing your flat as they are aware that if you don't feel they are doing a decent job you can move to another agent.:)
Cheers. :)
An agent for Robin Jones should be here soon, Ill ask about that and solo agreements as well. :)
Quick update...
Robin Jones value was 110-115k - no sale no fee - after sale fee is 1.5% of asking price before + vat
Whitegates value was 105-110k - no sale no fee (prefered a tie in period) again 1.5% is there fee.
Brian Holt value was 110-112 - no sale no fee, no tie in period 1.75% is there cut.
Decisions, Decisions :( - Ill sleep on it tonight and make my mind up tommorow. :)
Look online to see what houses in your area are going for.
Some agencies will over estimate the value of your property simply to get your business, then talk you into reducing the asking price if nothing happens.
There's not a lot of difference between 1.5% of 105K and 115K when you consider how little work they actually do.
Depends how quick you need to sell, but I'd be tempted to go with Whitegates exclusively, advertised at 110k. Subject of course to your checking other recent local sales on ourproperty.co.uk. There is no point expecting to beat the local 'ceiling price' unless your house is totally immaculate in every way, so if nothing has sold for £110k then neither will yours.
The trick is to set the price low enough to attract punters' interest, but high enough that you can engage in negotiation - allow them to bargain them down a bit, if necessary, so they think they're getting a good deal.
joglynne
20-04-2007, 19:41
But don't tell the estate agent what you would be willing to accept as your lowest price.;)
One of our neighbours did that and got a quick sale just below that lowest price. (He was being pushed to sell as his employer was relocating and he didn't want to risk having the house hanging on as a white elephant.) Ok it was his choice to sell at that price.
On the day that the contracts were exchanged a guy came and just did a quick tidy on the inside, painted a couple of window frames and cut the grass. He was there 3 days max. The estate agents board never even came down. The price went up to more than the original asking price and sold after 2 months.
He may have just been an astute property developer but another neighbour recognised him as a drinking buddy of the agent. Even if it was all kosher it was the developer and the agent who came out smiling.
Estate Agents may all be reputable people but at the end of the day they are in the business to make a profit.
Ive heard about the short term contracts (8 weeks onwards) is there any advantage to this. :confused:Well if you aren't happy with the agent then you aren't tied in for too long......
Wicked_and_Crazy
20-04-2007, 21:13
Quick update...
Robin Jones value was 110-115k - no sale no fee - after sale fee is 1.5% of asking price before + vat
Whitegates value was 105-110k - no sale no fee (prefered a tie in period) again 1.5% is there fee.
Brian Holt value was 110-112 - no sale no fee, no tie in period 1.75% is there cut.
Decisions, Decisions :( - Ill sleep on it tonight and make my mind up tommorow. :)
Didnt you ask about multi agency prices?
ian@huth
20-04-2007, 23:21
Read the agents contract very carefully as you could end up paying commission to more than one agent even if you find a buyer yourself and not through an agent.
DaggaDagga
21-04-2007, 00:56
Stop! You're chucking money away. Nearly £2000 to take a few phone calls? You're mad!
I've just sold a house via www.housenetwork.co.uk (http://www.housenetwork.co.uk). They get a huge hearty recommendation from me. £199+VAT up-front, then £199+VAT on completion. So £470 in total.
They will make up the website for you, take photos, draw floor plans and handle all appointments and offers. It will be advertised on rightmove (the leading site by a long way), and all other major websites.
The Negatives: They won't give you any guidance on asking price (but you already have valuations anyway), and they won't advertise in your local paper or shop window (but not many buyers use these any more anyway). You will have to show people around your house yourself. I actually quite enjoyed this myself.
The Positives: Save lots of money. Their staff are very professional and helpful. You can log in to their website and view all upcoming viewings, and see notes of peoples comments from completed viewings. Their presentation is a million times better than any other estate agent - their photographer really knew what he was doing. Most do 1-4 (usually bad) photos and a paragraph or two. They took 20 (!) really good photos, a spin-around virtual tour thing and gave lots of description.
I heard of them from the BBC Money Programme last year. They are also recommended by Which magazine.
Didnt you ask about multi agency prices?
They all quoted me figures, but they all made the valid point of given the location, its not worth having multi agents selling it. If I was on the border of a city and had an estate from each city - then I have opned the market up.
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