Advice on estate agents

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Vanillalatte
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Advice on estate agents

Postby Vanillalatte » Sun Jul 21, 2019 7:18 pm

We’ve found our dream next house and need to put our house on the market. We’d love some advice on estate agents.

Are high street agents value for money? The online agents seem to access online listings, use professional photography and help with viewings for a tenth of the price of high street agents. It sounds too good to be true! We’re torn between tried and tested established local agents and newer online ways. Feeling abit out of touch as haven’t moved for a decade. All insight welcomed. Thanks.
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jtreliving
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Re: Advice on estate agents

Postby jtreliving » Mon Jul 22, 2019 10:26 am

I am a mortgage advisor, so therefore have dealt with a fair share of estate agents over time! I have enough secondhand experience of Purple Bricks and their like to tell you that it’s probably not worth it.

First of all, they will tell you that they don’t take commission. Technically speaking this is true, but they do take an upfront fee from you upon instruction.

Prima facie this will be cheaper than a normal estate agent, so at first this may seem attractive. However you should take note that an estate agent’s commission is usually dependent on them actually selling the property. So therefore if they have been unable to sell the property for you within the contractual period (normally three months) you can take it off the market or reinstruct to a different agent at no cost. The online agent takes this fee from you irrespective of whether or not your property sells.

Another downside of online agencies that they by definition will almost never have a local office. This means there will be no personal service, no individual agent who has local knowledge to show them around and tout the benefits of your property in comparison to the rest of the area. Prospective buyers basically go straight to the house and you would need to show them around yourself!

In my opinion, they are glorified platforms, and can’t really guide prospective buyers into making a decision to buy your home. They work for some people, but the majority of my clients who have dealt with them, both as buyers and sellers, have said the experience has been a a letdown.

If you want me to recommend a local agent, I would certainly encourage you to look up Samuel Estates, who have an office based in Balham. They are highly ethical and independently well rated, so you will be in very good hands. Anyone there will do, but try to speak to Paul Ahearn the Sales Director. Their number is 0208 090 0900. Tell them Jonathan recommended you speak to them. Hope this helps!
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dudette
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Re: Advice on estate agents

Postby dudette » Mon Jul 29, 2019 8:21 am

Assuming your next house is local it might be worth getting the people selling that to sell yours too. They then have a double incentive to get the selling fee from both properties - selling yours will help ensure they get the fee from your vendor’s too. You can use that a a bargaining chip to negotiate a discount.
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dudette
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Re: Advice on estate agents

Postby dudette » Mon Jul 29, 2019 8:22 am

*sorry I meant the agent selling their house! The people themselves probably won’t want to!!
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