The latest in the series about choosing the right estate agent looks at the office staff at your potential agent of choice.
Having mentioned the two main questions that estate agencies need to be asked to determine which is best for your sale (What % asking price do you achieve, what is your average number of days on the market), the next question should relate to the efficiency of their office staff: Ask the estate agency “What % of qualified and accepted offers proceed to completion?”
This question has two components. Firstly, all estate agencies should be fully qualifying the buyers that have made an offer on your home.An offer is not an offer if the buyer cannot complete, so the agency needs to make sure the buyer has funding in place and can proceed within your timescale. Having cleared that hurdle, the second part of the equation relates to how well the estate agency back-office staff handle the process from offer to exchange and then to completion. Many things can go wrong either in the conveyance process, with a survey on behalf of the mortgage lender, or simply with solicitors that do their job , but slower than you would prefer. It is the estate agency responsibility to ensure the exchange/ completion process is as smooth as possible on your behalf and their staff need to be vigilant to any possible delays. So ask the agency what % offers proceed to completion. If they have fully qualified the buyer and they are professional in handling the ensuing process, you should be looking at over 95% of offers within their agency proceeding to completion.
The simpler questions revolve around the estate agency’s primary role which is to market and promote your home. Most obvious question, therefore, is “Will you use a professional photographer?” It is a fact that the best property photos attract the most interest and buyers looking on the web or in the local press will ignore a home that does not have visual impact. Badly lit photos that have not been properly resized and uninteresting shots of empty bedrooms and a garden in disarray will not get you many viewings! It is approximately £125 for a professional photographer to be used and this should be included in the agency fee.
Next time we will be looking at which property portals the estate agency plans to use and if they really understand the importance of CTR. Many agencies don’t and next time we will discuss why it is so important.
If you have any question on choosing an estate agency, drop me an email on firstname.lastname@example.org, or call me on 0800 0112678. Happy to help.
About Chris at Agency Negotiation…….