Estate Agents London -

How to Choose Your Estate Agents London

We’ve collected expert advice and recommendations and have put together a comprehensive guide – How to Choose your estate agents London.

Straight to the meat…

estate agents sign boards

Estate Agents London – The Basics

• Do not feel obliged to sell your home through the same agent you are buying from.
• Know in advance what to expect from estate agents.
• Make sure to go out and do some field research about potential estate agents London has to offer.
• Once you’ve found an estate agent you think will be “The One” have a meeting and ask her specific questions.

Estate agents London – Managing Your Expectation:
What should you expect from Estate agents?

The estate agents work on your behalf to:

• Value the property
• Market the property
• Arrange and conduct viewings
• Arrange and conduct additional external services such as mortgages and surveys
• Manage the offers
• Liaise with other professionals involved
• Provide the keys on the day of completion.

Most people tend to visit the area in which they want to live, rent or buy, and visit local estate agents there.

When you do, pay attention to the following:

• Does the agent has any presence in the neighbourhood? Look for “sold” signs rather than “for sale” signs (many “for sale” signs might be a result of over optimistic valuations given to clients)
• Check out the local newspapers and publications – do you see the agent’s footprint there?
• Try to have some recommendations from previous clients (preferably ones you know) – this is valuable!
• Use online portals to check which is the most active estate agent in the area.
  - Do they have similar properties to yours?
  - How well are they presenting the properties?
  - Are they descriptive, have clear pictures, floor plans and full information?
• Go as a buyer and see if the service is good, are they being treated properly, are the properties offered – relevant, how are they being presented? In total – would you trust this agent to sell your house for you and do a very good job at it?

Estate agents London – The Inquiry:
Questions you should be asking estate agents

1. What is your experience and how long have you been in the business?
2. Do you have experience selling properties such as yours? What similar properties have they sold recently? How long did it take?
3. Do they have access to buyers (buyer’s list) that are interested in such properties? Do they have access to corporate clients (this is a benefit)
4. What ways will they use to advertise your property? Which websites? what magazines? Ask to see examples – online and in print. How are they presented? As a buyer – would you be interested?
   Estate agents London recommendation: You want your property to be put in front of as many potential prospects as possible. Dig deep here, and ask the agent to show you properties similar to yours she has already advertised.
5. Will the property be handled by one person or more? What is their experience?
   Estate agents London recommendation: Make sure that if a team is handling the sale of your property, each member of this team knows what they’re doing.
6. How will they handle viewings? Are they accessible on weekends and in the evenings? Are they going to show the property in person?
   Estate agents London recommendation: Make sure the agent you choose has a flexible enough schedule to accommodate potential buyers.
7. Do they have a process they follow? Agreeing on a sale is only the beginning of the process. How does the estate agent communicate with all the parties involved, what kind of problems you might expect, what is the timetable for this process?
8. Who is the Estate Agent affiliated with? The Property Ombudsman (TPO) or The Surveyors Ombudsman Scheme (SOS)? Membership in one or both of these two schemes, is a must, as far as you should be concerned.
   Is the agent a member of one of the professional bodies like the National Association of Estate Agents (NAEA), the Royal Institute of Chartered Surveyors (RICS) or the Guild of Professional Estate Agents (GPEA). Membership in such organizations means the agent had to abide a code of practice.
   If the agent is a member of these organisations, it means more accountability for his actions.
   Estate agents London recommendation: Make sure your agent is a member of at least one of the professional bodies mentioned here.
9. How is the valuations of the property made – Anyone can give a high valuation figure, but actually obtaining it is another matter. Is the valuation a result of knowledge and experience, or is it by telling you what you want to hear?
   Estate agents London recommendation: Ask to see comparisons of previous sales in the neighbourhood that have been passed by a mortgage surveyor.
10. What are the estate agent’s fees? How much do they charge, how do they charge and are they willing to negotiate on the fee? Are there any additional charges on top of the fee? and if yes, what are they for?
    Estate agents London recommendation: In recent surveys, estate agents’ fees are averaging 1.5% in the UK, but it is about 1.8% in London (Yes, London is more expensive). Still, it is OK to try and negotiate it (but remember – what you pay is quite often what you get).
11. What are the contracts like? Ask to receive a sample contract. What are the terms and conditions. Is it exclusive? (Read the small print carefully. You might find yourself signed up and legally bound for a long period of time. In this case, if the service is poor – you are stuck with this agent, unless you are willing to pay two fees).
    Estate agents London recommendation: You should insist on a time period of your choice. Month to month or even week to week if the agent agrees.
12. Ask yourself – do you feel comfortable giving them your home to sell? If not, find someone else!

Estate Agents London is all about helping you locating the London estate agent that will suit your needs.