[Misc] Choosing an estate agent

ATFC Seagull · Aug 4, 2020

We've decided to get our house valued and possibly take advantage of the stamp duty break to see if we can somehow find somewhere with an extra bedroom in the area. Checked finances with the bank, so the next step is to ring up a lovely estate agent and get them out to do a valuation and then possibly put it on the market.

The thing is, there's a lot of them about, they all ostensibly seem to do the same thing (put a sign up, put it on Rightmove, organise viewings), there doesn't seem to be a particular one that is the obvious choice in the area (saw 10 different signs in our road and the 3 nearest ones when out running yesterday), and I don't have a clue what I am doing.

What things should I be wanting to find out from them before choosing them? Any scams or things to particularly be wary of? Maybe anyone have any particular recommendations for Hove/Portslade/Hangleton kind of area?

Cheers all.

Bald Gull · Aug 4, 2020

ATFC Seagull said:
We've decided to get our house valued and possibly take advantage of the stamp duty break to see if we can somehow find somewhere with an extra bedroom in the area. Checked finances with the bank, so the next step is to ring up a lovely estate agent and get them out to do a valuation and then possibly put it on the market.

The thing is, there's a lot of them about, they all ostensibly seem to do the same thing (put a sign up, put it on Rightmove, organise viewings), there doesn't seem to be a particular one that is the obvious choice in the area (saw 10 different signs in our road and the 3 nearest ones when out running yesterday), and I don't have a clue what I am doing.

What things should I be wanting to find out from them before choosing them? Any scams or things to particularly be wary of? Maybe anyone have any particular recommendations for Hove/Portslade/Hangleton kind of area?

Cheers all.

I've recently put our house on the market and took a bit of a risk (for me!) and went with an online agent. All the high street ones told me it was a huge mistake and the house would never sell. It's now under offer within 3 weeks and we've saved thousands of pounds by doing it. It's not 100% done yet obviously but, so far, I've been really impressed with them.

ATFC Seagull · Aug 4, 2020

Bald Gull said:
I've recently put our house on the market and took a bit of a risk (for me!) and went with an online agent. All the high street ones told me it was a huge mistake and the house would never sell. It's now under offer within 3 weeks and we've saved thousands of pounds by doing it. It's not 100% done yet obviously but, so far, I've been really impressed with them.

Interesting, I did anticipate some people would suggest that.

I've been leaning towards not doing that, purely because it is such an alien experience for me (but then I guess it is for most people - how many times do you sell a property in a lifetime?) and I figure that I'd need the easily reached help and advice. We had a few hiccups buying this place and I spoke to the selling estate agent quite a bit. But maybe that's just as easy to get from the purple bricks etc types?

Bald Gull · Aug 4, 2020

ATFC Seagull said:
Interesting, I did anticipate some people would suggest that.

I've been leaning towards not doing that, purely because it is such an alien experience for me (but then I guess it is for most people - how many times do you sell a property in a lifetime?) and I figure that I'd need the easily reached help and advice. We had a few hiccups buying this place and I spoke to the selling estate agent quite a bit. But maybe that's just as easy to get from the purple bricks etc types?

Communication has been excellent from the start. I've had very regular updates so no surprises at all. The only 'slight' downside is that we've had a different contact for each step of the process (getting property on market, sales process/viewings, negotiating with buyer, conveyancing/completion). It's honestly been excellent though. We've used Strike (just changed their name from Housesimple).

pasty · Aug 4, 2020

My step-daughter works for Martin & Co, although in Horsham but they do have a Brighton Branch. She says they're pretty good, but then working for the same company I guess she would :lolol:

Springal · Aug 4, 2020

They’re all pretty shit. Wouldn’t say there should be any scams per se but watch out for exclusivity periods etc.

The online guys are pretty crap from experience, basically a key holder but rarely know much about the house they are showing.

Weststander · Aug 4, 2020

Brand Vaughan have done well in selling houses round our way this year, despite the CV19 chaos.

Have always been impressed by their marketing of houses.

Is it PotG? · Aug 4, 2020

DIY

The ones in our area are charlatans.

In the olden days I had quite a few dealings with Brighton agents. Some of the stories......

Superphil · Aug 4, 2020

ATFC Seagull said:
Any scams or things to particularly be wary of?

Cheers all.

The scams to be wary of are Estate Agents, they’ll take thousands off you, do very little if anything to try and sell your house, or help find you a new one. I’d go online if I were you.

PILTDOWN MAN · Aug 4, 2020

Wouldn't trust any of them, they screw around, shag your mate, then sell your house but take half the money. Or was just me? She was an estate agent though.Bitch. OK now, that was 22 years ago. Breathe and relax.......................

stewart12 · Aug 5, 2020

I'd recommend going with a small, local firm that's been established for a long time

just my personal preference

Official Old Man · Aug 5, 2020

Noticed an advert on the back of a bus for an agent saying they get on average £7000 more than other agents. This is fine if selling but as a buyer I'd avoid these guys surely.
Unhelpfully I cant recall who they are, stand in North St and check all the buses!

Westdene Seagull · Aug 5, 2020

As an ex-property developer I've brought and sold quite a number of properties. A number of things to bear in mind :

> It's best to visit them in person. See how you feel with them. Gut feel is a good thing although not very scientific.
> Visit a number of them.
> Never tell them what deal you've been offered by another agent and never sign up there and then ( you'll be pressured to do so )
> Get as small as tie in period as possible - personally I'd go for 3 months or less
> Don't necessarily go for the agents that value your house at the highest price. Some do this to attract people to sign with them. Mishon Mackay and Fox & Sons being two prime examples.
> Online agents will seem attractive until something goes wrong. The ability to deal with the agent face to face is priceless.

Given your location I'd recommend Dean & Co but still follow the pointers above.

mikeyjh · Aug 5, 2020

Choose a local agent, have a look at the statistics to help with that choice, talk to them about your expectations and then negotiate. Depending on the value and 'saleability' of your house, you should be able to drive them right down from the start point. From talking to a few, you should get a good idea of the value of your house, from there, list out the important factors - How keen are you to sell, what is your bottom line etc etc.

Tim Over Whelmed · Aug 5, 2020

Some try to over value your property to entice you into their company, don't tell them what other valuations you've had, find out what they actually do in terms of marketing and always fix the commission on the price they say it's worth. For example, my house was valued at say £500k, I thought it was worth £475k, so I agreed a fee based on the £500k, so anything from £475-£500k was a 0.9% fee, and anything above £500k attracted a 5% fee, giving them the incentive to sell at as higher price as possible. Remember they want to sell house and the fee at a sale price of £475k against £500k is only £250, they'd rather have the easier sale and get the commission quicker.

ATFC Seagull · Aug 5, 2020

Westdene Seagull said:
.
Given your location I'd recommend Dean & Co but still follow the pointers above.

This was my gut instinct anyway (based solely on finding them very proactive when we were looking to buy) but thanks for the great list of tips - I've had a couple of other recommendations so will look at it properly!

ATFC Seagull · Aug 5, 2020

Tim Over Whelmed said:
Some try to over value your property to entice you into their company, don't tell them what other valuations you've had, find out what they actually do in terms of marketing and always fix the commission on the price they say it's worth. For example, my house was valued at say £500k, I thought it was worth £475k, so I agreed a fee based on the £500k, so anything from £475-£500k was a 0.9% fee, and anything above £500k attracted a 5% fee, giving them the incentive to sell at as higher price as possible. Remember they want to sell house and the fee at a sale price of £475k against £500k is only £250, they'd rather have the easier sale and get the commission quicker.

Cool - is this a common thing to ask for? I'm not the best at haggling/being hard nosed in negotiating stuff, so if I brought it up and got laughed out of the office I'd probably give up on pretty quick.

Uncle Spielberg · Aug 5, 2020

I have a few contacts, pm me for help if needed. You should not be paying over 1% on sole agency, you will be offered 0.5 - 1% but don't necessarily go for cheapest option, be careful re valuations, get 3, do not sign in for a long contract, ie 6 months a tried and tested method from some agents to get on over valued, get no viewings and tell you to reduce price 1 moth down the line, to what it should have been on for in the first place

Weststander · Aug 5, 2020

Westdene Seagull said:
As an ex-property developer I've brought and sold quite a number of properties. A number of things to bear in mind :

> It's best to visit them in person. See how you feel with them. Gut feel is a good thing although not very scientific.
> Visit a number of them.
> Never tell them what deal you've been offered by another agent and never sign up there and then ( you'll be pressured to do so )
> Get as small as tie in period as possible - personally I'd go for 3 months or less
> Don't necessarily go for the agents that value your house at the highest price. Some do this to attract people to sign with them. Mishon Mackay and Fox & Sons being two prime examples.
> Online agents will seem attractive until something goes wrong. The ability to deal with the agent face to face is priceless.

Given your location I'd recommend Dean & Co but still follow the pointers above.

Mishon Mackay, plus their connected Mishon Welton and Goldin Lemcke, all drew in sellers with sky high valuations.

ATFC Seagull · Aug 5, 2020

Uncle Spielberg said:
I have a few contacts, pm me for help if needed. You should not be paying over 1% on sole agency, you will be offered 0.5 - 1% but don't necessarily go for cheapest option, be careful re valuations, get 3, do not sign in for a long contract, ie 6 months a tried and tested method from some agents to get on over valued, get no viewings and tell you to reduce price 1 moth down the line, to what it should have been on for in the first place

Brilliant - exactly the kind of stuff I would have fallen for hook line and sinker if someone hadn't told me. Cheers :thumbsup:

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