The obvious answer to ‘what do estate agents do?’ is that they sell your house or to find you a new one to buy.
Of course, that’s just a generic description of their role – in reality, there’s a lot more to it. An estate agent wears many hats, from advertiser to negotiator. These are some of the services you can expect to receive for your hard-earned money.
A key skill of any estate agent is their ability to value homes. Too low and the seller won’t make enough money; too high, and buyers will be put off. That’s why estate agents spend years honing their valuation experience, and why an online valuation (although a great place to start) won’t give you an accurate figure.
Your local estate agent will combine market research with recently sold house prices to get an idea of where your property sits. They will then visit your home in person to get a real sense of what makes your home special and who it might appeal to.
On top of that, they’ll think of ways to make your home more enticing to buyer and offer advice on what you can do to add value to your home. A lick of paint can go a long way, and your agent knows what small changes will make a big difference.
Marketing is one of the most crucial roles that an estate agent can provide to a seller, so before you instruct be sure to enquire as to where they’ll advertise your property. Most agencies should be advertising on Rightmove and Zoopla.
As with all sales related services, success is the key when choosing which one to use. If you’re selling, look for boards with ‘sold’ or ‘under offer’ on them; one agent may have a lot more than another. Also, you may find that one particular agent appears to have had more successes in your area than their rivals, which will almost certainly be an indication of a proactive sales approach and good local knowledge.
Your estate agent will be responsible for everything related to your property sale. They’re the ones who will show visitors around your home, field enquiries, and negotiate offers to make sure you get the best price for your property.
A good estate agent will also be brilliant at matching people to property. They’ll know buyers in the area and what they’re looking for, and if your home matches their needs, they’ll make that all-important connection – often before the buyer has stumbled across your home themselves
Once you have received offers on your property and you find one you wish to accept, the estate agent will:
If you’re a buyer, the agent for each property is there to show the property to you. They will accompany you on your viewing (unless the seller is conducting viewings by themselves) and should have a good knowledge of the local area, schools, shops, and public transport. Once you have found your dream home, you will make your offer through them and they will contact the owner on your behalf. You can tell them your reasons for making the offer and they will explain this to the seller in a professional and honest manner. It should be noted that agencies do not usually get involved with surveyors, although in many cases they can recommend one. Ask them to explain what a Homebuyer Report is and why it’s so important; it will, for example, provide you with protection against hidden faults on such a major expenditure.
Using a good estate agent is paramount if you want to achieve the best value for your home and ensure a hassle-free move.
Now is a great time to sell whilst house prices are still very high. If you are interested to know what your property is worth, please click here to book a market appraisal.
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