Foreword Choose Your Agent Wisely...
by NEIL BARTLETT | PARTNER - JOHN LAKE ESTATE AGENTS
be a decision made hastily as you are in essence entrusting them with your most expensive asset. For many it is a simple case of price and fees, but a decision made on these two factors alone could be regrettable in the long run.
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Correct pricing is vital in the current uncertain market and an agent being optimistic for their client is understandable, but unrealistic pricing can be detrimental as a property can fast become stale if sitting on the open market for too long. You may be forced to reduce the price of your home below its true market value months, even years later in some cases, equating in valuable lost time as well as money.
Equally do not be drawn in by cheap fees if they are presented to you. Ask yourself why they are cheap and what service will I receive? An agent working hard on your behalf which results in securing a considerably higher price for your home often far outweighs the difference in fees and may prove beneficial in the end. Anyone can sell or let a property cheap, the art of a true agent is in the negotiation and end price for their client.
Always invite several firms to inspect and value your property to provide their opinions and discuss their marketing and agency terms. Talk to family and friends who have recently sold or let to get feedback of their experience and even arrange a viewing with the firms you are considering instructing as these will be the people promoting your home.
All professional agents should explain the reasoning behind their valuation and endeavour to support it with comparative evidence from their firm. They should clearly explain their fee structure and any disbursements, contract length and agency terms of business. Never be pressurised to sign an agents contract as you should take time to read it thoroughly and understand its content as you will be legally bound to adhere to the terms once you put pen to paper. Remember the 7 day cooling off period is your legal right to cancel should you sign a contract in your own home and wish to change your mind (The cancellation of contracts made in a consumers home or place of work act 2008)
Do not be frightened to question your potential estate agent and consider the following:
1. What are their qualifications and experience as a property valuer? Sadly it is not legal practice for agents to be professionally qualified or have experience as a valuer before walking over your threshold.
elling or letting your home can be a stressful time even for the most experienced property owner and choosing your agent should not
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2. Are they, or their firm members of a governing body and Ombudsman? If they are not ask yourself why not. My firm are members of The Property Ombudsman and both the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA) which means any member agent must abide by strict rules of conduct and codes of practice to ensure client protection.
3. How and where will your property be marketed? The Internet has fast become most buyers’ first port of call so check the agent’s personal website and what national portals they feature on. Print is still a popular media for buyers and we all like to flick through a property guide with a cup of coffee on a Sunday morning so confirm your agent is present in the main local publications... Property South Devon Magazine at the top of the list of course!!!
4. Ask to see copies of the firms marketing material? Do not underestimate the power of presentation. Quality marketing material showing your home in its best possible light is paramount and will attract more potential buyers. Floor plans are a key feature buyers and tenants expect to see so confirm the agent provides this service as standard.
5. Will they be accompanying viewings and which members of their firm will be conducting them? Will they be able to meet you and inspect your home to gain a good understanding beforehand and what experience do they have?
Estate agents are often tarred with the same brush but do not believe all the horror stories, I assure you there are professional firms and thankfully many in Torbay. Should you be considering a move, John Lake would love the opportunity to be one of your chosen agents to discuss how we do things differently whether selling or letting.
Neil Bartlett or email:
sales@PropertySouthDevon.co.uk www.PropertySouthDevon.co.uk | APRIL 2013 | South Devon South Devon 5
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