Finding the best estate agent

Choosing the right estate agent to sell your home will take time to research and you'll need to ask as many questions as possible when they visit your property.

Typically, people rely on two main criteria when deciding to instruct an estate agent. They'll pick the agent who:

• charges the lowest commission rate; or
• offers the highest valuation.

Do your research

But you should never choose an agent based on either of these marketing tricks! To find the best agents to value your home, you'll need to spend a few weeks researching and monitoring which agents are selling property locally. You can do this by looking in your local newspaper, driving around your area, and talking to friends, family and neighbours.

Once you've identified the agents who have sold properties similar to yours, call into their offices. Firstly, visit as a buyer interested in properties like your own, so you can talk to the staff and see how happy you would be if they were selling your property. Ask yourself the following questions:

• Are the staff welcoming?
• Can they explain what’s happening to prices in your area and how many buyers there are for each property for sale?
• Can they find property information easily?
• Do they chat among themselves, or have little idea what is for sale where?
• Are they helpful in offering explanations for different prices of similar properties?

Market know-how matters

There are some estate agents who have no idea how to sell in a slow or falling market. In a slow market, choose only an agent who is selling property similar to yours and ideally was in business during the last falling market in the early 1990s.

Try to find three good agents, as this gives you a good spread of views, then invite them to value your property so you can decide on your favourite one. Before they visit, think about what type of services you want from an agent and have a list of questions ready to ask them (see our estate agent checklist below).

Types of services

Many people forget that agents do a lot of work long before they receive any money from you. However, some agents work much harder than others, and it’s worth thinking through how involved – or not – you'd like to be in the sale of your property.

Standard services

• Free visit and valuation of your home
• Preparing property marketing details
• Creating a Home Information Pack at an additional cost [Create link to HIP article]
• Promoting your property: online (for example on their own website and other property portals), Ii the local newspaper and sending your property details to prospective buyers
• Accompanying buyers on some viewings
• Providing offers from buyers in writing
• Negotiating with buyers

Additional services

• A preference for accompanied property viewings, which will save you the trouble.
• Adding floor plans or online video tours of your property.
• Committing to advertising your property every week in their local office window and/or local newspaper
• Property review meetings and online tracking systems, so you can check on viewings and buyer feedback.
• A (free) ‘sales progression’ service, via someone at the agent's office rather than a call centre. This can save you a lot of time as they help to liaise between the buyers, sellers and other parties involved in the purchase/sale.

Estate agent checklist

If you ask an estate agent these 10 questions during their initial valuation visit, you can't go far wrong.

• How many similar properties have they sold? At what price?
• How many viewings and how long did it take to sell the properties?
• How many buyers are looking for properties like yours?
• Which trade associations are they members of?
• Ask for a minimum and maximum price for your property: What price would they market your property for? What price would they expect you to get for your property? What price would they value your home for a ‘quick sale’?
• Who will do the property visits?
• Can you have a copy of their contract?
• How and where will they promote your property?
• What are their charges – and when do you have to pay?
• How would complaints be handled? Is there a third party complaints procedure?

Estate agent charges

Some agents offer a scaled-down service that is charged at a ‘fixed price’. This service usually includes producing property details, promoting your property online, and sometimes – but not always – in the local newspaper.

However, you'll have to manage calls from potential buyers and show them the property, follow up to see if they want to view again, or better still make an offer and negotiate the price yourself. The fee is payable upfront whether or not your property sells.

More traditional agents will offer a mix of the services highlighted above and charge accordingly. Charges range from 1% to 2% for ‘sole agency’ – ie, you give one agent responsibility for selling your home, or from 1.5% to 2.5% to sell on a multiple agency basis (more than one agent is appointed to sell your home).

Don’t forget: agents are negotiators – so try to negotiate their fees!

Estate agent contracts

It's important to read the contract the agent gives you. Check that these areas are covered and, if necessary, seek to clarify the relevant clauses:

• What happens if you find a buyer yourself, for example a work colleague, friend or neighbour?
• If you're not happy with the agent's service, how long does the contract tie you in for? Ideally aim for a six to 12-week break clause.
• What happens if you're unhappy with the agent's service and want to complain?

For more details on finding the best estate agent in your area and how to negotiate with estate agents, buy 'Buy, Sell and Move House' by Kate Faulkner. Also, take a look at our advice on unfair contracts here.