It is a fairly certain fact that you are probably going to need to use the services of an Estate Agent at some stage in your lives. – Possibly on numerous occasions.

Many people find the prospect of selling (or buying) property using an Estate Agent to be “rather daunting”. - It doesn’t have to be that way – AT ALL!

On the whole, most Estate Agents are professional, and do a reasonably good job. – Some are exceptionally good at what they do, and can offer a wide range of services, - covering not only selling or letting property, but also raising finance / advising on and applying for Planning Permission / Structural Surveys / Valuations and Conveyancing.

Whatever service you may require, choosing the right agent is very important. – The right people can not only make the process “easy and pleasant” for you, but can also “make” or “save” you many thousands of pounds.

On the other hand, the wrong people can cost you just as much, - and give you quite a few headaches along the line to boot!

The problem that faces Estate Agents “on the whole” these days is that, due to the actions of a “few” of their number, the reputation of the whole industry has suffered.

I have been dealing with Estate Agents all over the UK for around 30 years. – I have seen pretty much the whole “spectrum”, from the “excellent to the “lousy”!

Overall, I would say that, as long as you use “a bit of common sense”, there is no reason why any fairly intelligent person, who dedicates “a bit of time and thought” to choosing an agent, should not end up with a company who can do an entirely professional job., and make the whole process of either selling or buying property / land, at least “reasonably hassle free”.

If you have read one of the previous sections dealing with “negotiating to buy land”, you will probably remember the part which advises you to try to “stand back” and look at the process as if it was not actually YOU buying the land or property.

I suggested in that section that you try to put yourself “in the shoes” of someone else, - a good friend of yours, who is advising YOU on how much to offer for a particular property or plot.

You need to bring a bit of that same thinking to this process. – You need to try to look dispassionately and in a totally businesslike manner at the whole “operation”.

What often tends to happen when people are selling land or property, is that they will either “know someone” who used a “particular” agent, and just naturally contact them first “because they have heard of them”, or they will tend to look for the “best looking ad” in the property paper. – Some people will look through the papers and the internet for the agents who are asking the highest prices for similar properties in the area, with the thought that if they can get those prices for these other people, they will probably be able to get them for them too! - WRONG!

If you are selling a property, maybe an agent will call round to see you. - Almost immediately you will “create” an impression in your mind of that particular company based on the person who is standing in front of you. – If you like the person, often, the chances are that they will get your business. – On the basis that “if they are friendly to you, they will be friendly to the people looking to buy and will therefore be more likely to sell the property for you”. – WRONG!

They may take a good look around your house and make “all the right noises” about how nice it is and how they have someone they “think may be interested in this sort of property – just waiting for the right house to appear”. – Making you think “Well if I go with then I’ll stand a good chance of getting a quick sale from that person” – WRONG!

They may sit down with you and tell you that they think they can get you “X” thousand pounds for your property or land, which is quite a bit higher than you expected. – So, you should give them a chance to see if they can. – WRONG AGAIN!

In fact, in reality you should do that before you even contact them!

First of all, I would go and have a look at their offices:

Personally I would contact them first of all by phone.

A lot of the selling is done by phone, and I like to get an idea of how professionally they deal with phone contacts:

i)        What are your opening hours? – Are you open all weekend?

ii)       (If you are selling a plot ) How much land do you have on your “books” right now?

iii)     Do you generally sell much land?

iv)     What do YOU think the strengths and weaknesses of this property / land are? – And how is THIS area selling over all?

v)      Are your properties marketed on the internet? – If so on which site?

vi)     What are your percentage rates for selling? (and are they negotiable)?

vii)   Have you got anyone on your database who would be looking for this sort of thing NOW? (many of them will answer “Yes” to this, - but go further:  - Who are they? Where are they from? How much have they got to spend? – If their answers are a bit “iffy” then they may be bluffing!

viii) How long do you have to stay with them if you are not happy with their progress? - And is there any fee payable if you cancel, either early, or after that period.

 

 

As I have mentioned in the previous paragraph, some of the more “unscrupulous” agents could try to “play a game” here, - where they will value your property high, and say that they have someone who “It would suit perfectly”. 

When that happens, the natural thing is for you to think “Wow! - That much? – That’s great!”

Maybe they are being realistic and telling the truth, - but just test how genuine they are by asking a couple of questions:

If you market your property at too high a price, you may just be lucky and sell it at that price, - but the chances are that you will end up reducing it, and the process of selling it will take longer overall.

Some agents will initially set a high price to get you to give the business to them, - then after a few weeks will call you to say “We are not getting the interest we had hoped for, would you think of dropping the price?” – The chances are that you will, and also that you won’t “ditch them” immediately and go with another Agent.

SO, they still eventually “get the sale”, and their commission, but they knew when they gave you the valuation, that a few weeks down the line they would be asking you to reduce the price to a more realistic level.

 

 

Once you are happy that the Agent you are thinking about using “ticks all the boxes” then you can consider signing up with them. – However, keep them on “probation”, - and if they are not matching your expectations and their promises then get on to them and make your concerns known. – Remember they are going to make a significant amount of money from you when they sell the property.  – So, don’t worry about making sure you actually get your money’s worth!

 

 

When you buy land, unless it is a “private sale”, the seller has usually already chosen the Estate Agent.

The chances are that the seller won’t have read what you have just read in this section. - But, you still obviously HAVE to deal with whoever the seller chooses to sell their property or land. – They may be “one of the best” agents around, - or they may be lousy!

Remember that the agents are “employed” by the seller, not by you. Their contract commits them to giving the best service they can, and to attain the best price they can for their client. - If you bear that in mind in your negotiations, you may find that it helps you to get a better end result.

Once you have viewed the land or property (having first read the relevant sections of this guide), try to have your own “target price” in mind.

At the end of the day, the agent needs to sell the property in order to make their commission fee.

Although they have a contract with the client, it is part of their job to also make the seller aware of ALL the possibilities that arise with respect to potential sales.

If you make ANY offer on the land or property, it is therefore their duty to relay that offer to the seller. – They may add their own thoughts (e.g. “It seems a bit too low from what we have been selling recently in that area”), but they can’t say to you “Don’t be daft, that’s far too low, - I’m not even going to trouble the seller with such a pathetic offer”. - They HAVE TO relay ANY offers.

Try to keep all the negotiations “on a friendly basis”. – You will generally get more success that way. – If the agent “likes you” they are more likely to see your point of view, and when talking to the seller, may even “fight your corner” for you! – At the end of the day the “sale price” will be dictated by the seller, but having someone who sees things from your side ASWELL as the other side, can be very useful!

 

If you go into the process of either buying or selling, make sure you do so with your eyes open, using the “emotionally unattached” methods I described earlier.

Approach the whole thing as a “business transaction” and try not to take anything “personally”.

Ask the right questions, do your homework, and the chances are that you will be quite happy with your selling agent.

Don’t just assume that because you have heard bad things about Estate Agents” in general, that they are all the same. – They are not.

Just as importantly, don’t just think that because that “pleasant person” who calls and compliments your house and tell you that it’s worth a fortune, that it actually is!

Keep your “eyes open” and your “wits about you”: