Exactly what is ‘value for money’ in agency fees?
Many of you will have asked these questions over the years; What exactly does an estate agent do? What are the pros and cons of using an online estate agent? Should I just opt for the cheapest estate agent because they do the same job?
What exactly does your estate agent do?
If you think about it a traditional estate agent is cheap for what they do…you don’t agree?
Well, let’s consider what their fee includes…
- Carrying out a free valuation of your property
- Essential knowledge and expertise of the neighbourhood
- Photographing your property & designing the floor plans
- Property advertising
- Listing your property – Rightmove & Zoopla
- Installing a For Sale board
- Accompanied viewings
- Negotiating offers
- Accessing potential buyers’ financial position & checking their ability to proceed with the sale
- Liaising with solicitors, surveyors & 3rd parties
All at a cost to themselves.
You don’t pay them upfront & remember if they don’t sell your house then ‘No sale – No fee’.
Bet you think they are worth their commission now!
What are the pros and cons of using an online estate agent?
Over the last decade we have seen the rise of online estate agents who offer low, fixed price fees and initially this seemed to be the way forward for house sales.
However more recently these online agents have failed to live up to expectations with consistently high levels of customer dissatisfaction and complaint. Often with houses sitting online for months with no sale at the end of it.
Some online agents ask for upfront fees which means you will have paid their fee even if they don’t sell your property.
Put simply, you get what you pay for – a Post & Wait estate agent (that is one that will post to Rightmove and sit back to wait for the phone to ring!).
And, when they do have a potential buyer then it’ll be you doing the viewing.
On top of this to reach profitability these agents must take on a high number of house sales
and, with a flat fee, they have no incentive to get you the best price for your home.
Should you just opt for the cheapest estate agent because they do the same job?
Estate Agents are not all the same. True, they do a similar job but the more skilful, motivated and professional agent you choose, the better results you will achieve.
When it comes to selling your house – don’t focus on the cheapest fee, focus on the best agent for the job.
A good Estate Agent earning the correct fee will pay you back with a secure sale, a better house price and a happier, stress-free relationship with your agent.
Put simply, you get what you pay for – an Estate Agent who is proactive, professional and will often secure a higher sold price!
The real secret of an Estate Agents value is – negotiation!
A great Estate Agent will create an environment of trust, confidence and discussion, from here they will be able to negotiate. They know when they go to the vendor with a final offer, they can say with confidence this is the maximum your buyer will pay.
At James Berry we believe when you’re selling your biggest capital investment, you deserve a first-class service from an experienced property professional.
Thinking of moving? If you would like a free valuation of your home, please give us a call on 079 1000 4321. We’d love to talk about your moving plans.
Would you love to change your view?
James Berry is ready to help, so get in touch and let’s chat about your new home.
Please do give me a call on 079 1000 4321.
“Has your agent found your buyer?”