Happy New Year to all my regulars and I sincerely hope that 2017 turns out to be good for all
In the last few posts I have mentioned the importance of getting the Product right – your property – now, I want to switch the Focus to its Promotion. So now the House is ready and looking sharp. So ask yourself, how am I going to Sell it? Quite simply, you can sell your home yourself, use a traditional estate agent, or an online estate agent. Each has its own advantages and Dis-advantages.
If you use an agent make sure you do plenty of research, but also decide if you want one Agent or multiple. You may think that having it for sale with lots of Agents increases you chance of a Sale. However, I would say that it can make you look desperate to sell and therefore may encourage lower Bids. Fine if your are in a Hurry, but not if you want to maximise your Value. You are far better spending a decent amount of time assessing the Agent you invite round to Value before deciding which to opt for.
All Agents are required by Law to Get written Agreement from you in order to Sell your home. The written agreement’s are a legal requirement designed to protect you and the Agent and act as a binding Contract between both parties. This invariable will be their Agency Agreement, be it Sole Selling Rights, Sole Agency or Multiple Agency. There are other types used, but theses are the three main ones used around Bedford. They are fairly standard as they have to meet the criteria laid down by legislation. The key is to read these carefully and think about the implications of the clauses contained within. For example. The agreement will have a term usually 6-12 weeks. This effectively ties you into using them for the duration. If they then fail to meet your expectations, your stuck with them, particularly galling if its a Sole Agency or Sole Selling Rights Agreement.
Online Agents are becoming more prevalent as they can offer savings over conventional agent, as long as you feel happy conducting viewings and are prepared to chase and badger solicitors once you’ve agreed an offer. They do give you the power to control the Sale online and not be reliant on the Agent so much. With online Agents, Fees are mostly paid in Advance to List the Property for Sale. This is a good option if you want to control things for yourself.
However, you could try and sell yourself, but only if you have the time, and are prepared to Pay for some Advertising perhaps or are a whizz with Social Media. Therefore being well organised and having a Patient nature are essential!
Now when an Agent visits your Home, they will promote themselves in order for them to get your Business. If you are looking at the Bigger ‘Corporate Agents’ that inhabit most of the high street in Bedford, the person who visits you to carry out the Market Appraisal is the Lister or Senior Negotiator. This will invariably be one of their most experienced Staff member who’s main task is to get Properties on their Books to Sell. Once you have signed their Agreement, it is unlikely you will see him Again. He is not tasked with selling your Home. This will be left to the more Junior Negotiators to arrange and where contracted to, conduct viewings at your Property. Once an offer has been Accepted, Sales Progressors will monitor and maintain the Chain. Smaller Agents tend to have a much more hands on approach, so chances are you’ll get to deal with the Same Person throughout the Sale.
Trust. This is what selecting agent fundamentally is about. Do you feel happy with your Selection. Do your initial impressions of the Agent fill you with Confidence ? Remember, the Agent works for you, so is Bound by the Law of Agency to act in your Best Interests and not their own or the Buyers. You are going to be working with them to sell your Home. You should feel that you can trust them to help you do this. If you are not sure, then try another Agent, or better still ask friends, family or acquaintances for anyone they could recommend.
When it comes to viewings its important to consider who is going to do them. Ask yourself, am I happy to do them? Do I feel confident enough to present my home in an objective and honest manner? You may love your Home but it is important to remember that, to any prospective client it is just another house they are looking at. If you fail to disclose anything or are deemed to be dishonest in any way, it could have pretty serious repercussions later.
If you sign up with an Agent, then make sure the Agent is contracted to do them. Many Agents in Bedford do not and rely on homeowners to carry out Viewings. This is something that I am strongly against. It is far better for the Agent to conduct viewing as they should be skilled in the art of negotiation and be best qualified to promote your home in a one-to-one situation. If they are not then ask yourself, am I with the right Agent? If your in doubt, time to go back a few steps and re-evaluate your Agent Selection.