What To Look For in an Estate Agent

Published: 03/03/2024

So, you're considering selling your home and moving in 2024. No doubt you've started to take a little more notice of estate agents and the property market in general. Read this article to find out what you should look for in your estate agent before putting you most valuable asset on the market.

Deciding who's best to trust your sale with can be a minefield, each will promote their services as they encourage you to sell your home with them. How do you decipher these many different approaches to establish precisely what you need from an estate agent to sell your home and which agent is right for you?

Promotion & Marketing

The key factor for an estate agent when marketing your home is coverage. There is a perfect buyer for your property, and they are the people who will fall head-over-heels in love with your home that they would pay almost any price because they simply have to have it. Of course, there are other buyers, but they will be slightly less perfect, and these compromises will manifest themselves in the offer that you eventually accept. So, can the agents pinpoint this ideal buyer to sell your home for the best price? Coverage doesn't just mean online of course. A good estate agent will cover your area and have buyers already on their books waiting for something ideal. Coverage and marketing can also include social media and the local glossy lifestyle magazines. If you're considering using an agent that doesn't cover all these bases, simply avoid them and go with an agent that offers the full package. A agent that skimps on marketing will reflect on your final result.

A Valuable Database & Applicant List

Certain agents suit certain properties. Mount & Minster, for example, tend to sell mid-market and premium homes. Therefore, the right agent will already have a list of buyers that suit a certain type of house. If your home is a little bit more special and different to the run-of-the-mill £250k house, make sure you select an agent experienced in handling premium properties at the mid to top-end of the market. Buyers of premium properties will not register their interest with an agent who doesn't market the type of properties they're looking for. Look for an agent that markets similar houses to yours. They will be able to promote yours in a similar fashion and give you a huge advantage.

Your Agent is a Representation of You and Your Home

Again, certain homes are best suited to a certain agent. There are two extremes of the spectrum: one is the cheap, internet-only, 'DIY' agent that represents low-value and attracts a below average buyer with a restricted, cheap budget. These are best suited to those that don't care about service and aren't seeking a premium for their end-price for the house. The other is very high-end, expensive agents who tend to sell houses in excess of £1 million and will prioritise their time and efforts on high net worth clients and their very high-priced properties, as opposed to those that may have a house valued anywhere between £300,000 and £800,000 who will undoubtedly be lower down their priority list. Pick an agent that best suits the value of your home. Go cheap and you'll attract lower offers. Go expensive and you'll likely attract no offers at all!

Aim for Good-Value, Not Cheap

The old saying is very relevant when selling your home: 'cheap isn't good and good isn't cheap'. In the long run, the agent's fees are largely irrelevant. Unless you're using a cheap internet-only agent, you only pay if the property sells, and of course selling is the outcome you're looking to achieve anyway. The total fee percentage is a tiny proportion of your actual sale price, but if you compromise on the agency because you're trying to save on fees, you'll likely sell your property for a much lower price. The cost of reductions and negotiations is often around 10%, whereas an agent's fee is not likely to be much more than 1.5%. Therefore, if you choose a cheaper fee to save a few thousand, but they're not as skilled at negotiation or simply don't have the contacts to achieve the highest price for your property, you'll have lost much more money in the long run.

A Better Overall Service

They say moving home can be one of the most stressful things you'll ever have to go through. We disagree as it doesn't have to be. Choose the right agent and you save copious amounts of stress and wasted time, efforts and even money! A boutique, smaller agent will offer a more bespoke service that will be more hands-on with a more qualified and personal approach. The larger national firms will have many other clients and houses for sale whereby you're just one of many and you'll have less service as their time is diluted with more properties. Your property is likely to be your most valuable asset, don't let it be just another house, instead let it be promoted as a special home. A house and a home may seem to be the same product, however your agent will be able to project a difference which will make a huge difference, either to whether it sells in the first place, or whether it sells at a better price.

Select the wrong agent and it can have dire consequences for your moving experience and the amount of equity you release from selling your property. If you want to know how Mount & Minster sells homes with a more premium approach, with clever technology, AI, Social Media and a connected database of buyers from London to secure you the very best price for your home, contact our team today.