How Do You Compare Estate Agents?

When it comes to selling your home, choosing an estate agent to help you is a decision you will always want to get right. 

Of course, it goes without saying that you want to achieve the best possible price for your property, and you don’t want it hanging around on the market for longer than it needs to, leaving you in limbo when it comes to moving house or missing out on your dream home. 

With estate agent fees taking up a considerable chunk of your moving expenses (anywhere between 1.5-3% of the total cost of your home on average), it’s also a no brainer that you want to get the most value for money when it comes to choosing an agent to actually sell your home. You may also want to get your property on the lists of buyer’s agents in your local area, for instance buyer’s agent in Brisbane or your own local area, so that you can attract more potential buyers.

But how do you go about comparing estate agents and choosing the right one for you?

A personal recommendation from a friend or family member is always going to be useful, but it also helps to think outside of the box and ask neighbours and local contacts which agent they used if they have recently sold a property similar to your own. Positive recommendations are always useful, but constructive criticism – whether it be a promised offer price not achieved, hidden fees or a lengthy selling time – can help you with your decision making. If you liked the agent who sold you your current home, check out their reputation when it comes to their relationships with vendors to see if it matches your buying experience. However, there is no requirement that you use the same agent to sell the property, so take the time to shop around and find the best option for you. 

Using tools such as Yopa’s Agent Guide allow you to find performance data for your local agents, such as how long it takes them to sell a property, how often they achieve asking price (which also indicates how accurate they are at valuing properties) and information on property price reductions. 

Review an agent’s existing property listings on the key portals Rightmove, Zoopla and OnTheMarket to see how good they are at advertising. Are the pictures of a high quality and do they present the properties accurately? Is the accompanying text clear and does it make you want to know more about the properties? Are local selling points like good schools and transport links included? You should also consider recently sold properties to see if an agent is successful at selling homes of a similar size and type to your own and the kinds of asking prices they have achieved. 

Consider local high street estate agents and hybrid or online agents when it comes time to make your shortlist. Whilst using an online agent may mean rolling up your sleeves and undertaking a lot of the legwork yourself such as viewings and buyer negotiations, you can save a considerable sum in doing so. 

Once you have found a minimum of three preferred estate agents, invite each one to undertake a valuation of your property and explain how they would go about selling it. 

Below are some useful questions to ask at the valuation to find out if they are the agents for you. 

• Do they have experience selling similar properties to yours?
• How long, on average does it take them to sell similar properties, and do they regularly achieve asking price?
• How did they reach the valuation they have provided for your property? (Particularly if it is drastically different to another agent. An agent may have provided a high valuation specifically to obtain your business, so knowing their rationale, and how many properties that they have sold at asking price, is important when it comes to making your decision on who to choose). 
• Do they undertake the viewings, or will you be expected to? (Make sure you specify at this stage whether or not you would like to be present at viewings also.)
• What are their opening hours? (For both viewings and communication purposes. A number of hybrid and online agents offer 24/7 online communication tools for instance.) 
• What are their terms and conditions – what are the commission rates, do they offer a no sale no fee option and does the contract only cover sales and advertising within a set period? (You don’t want to have to pay someone more than once to sell your home after all!)  
• Are they a member of the Property Redress Scheme or the Property Ombudsman? (They should be registered with one of these services to work as an estate agent) 
• How would they encourage momentum if the property didn’t sell straight away or only attracted low offers? 

Another important decision you will need to make is whether you want to market your property with just one agent (known as a ‘sole agent agreement’) or whether you will list your property with multiple agents (known as either a ‘joint sole agreement’ or a multiple agency agreement’). 

There are pros and cons to each option. Most vendors tend to choose a sole agent which can be a bit cheaper, and many buyers assume that if one agent is getting the full selling fee rather than splitting it with another agent then they will have more incentive to sell the property. A ‘joint sole agreement’ will generally involve a local agent and a larger, national agent to combine local expertise with national advertising reach. This may be particularly beneficial for properties located in popular relocation destinations such as Devon and Cornwall or the Scottish Highlands for instance. 

A ‘multiple agency agreement’ between a number of agents will come with a higher price tag but is the most likely option to result in a quick sale which can be appealing in the case of a probate property and properties which have been repossessed by the bank. 

Whichever option you choose, always ensure that you are aware of the small print in a contract, particularly in terms of exclusivity. Even if an agent is unsuccessful in selling your property, if you list it with another agent and it sells within a set time period the initial agent may still be entitled to charge a fee depending on the contract you had with them.    

Once you have all of this information to hand, you can then make an informed decision on the best agent for you at the best price. 

Sharing is caring!