Choosing an Estate Agent

When you sell your property you want to be with an estate agent who you can trust. Here we look at what you need to know to choose your agent correctly.
Like every business some estate agents are great, some mediocre and some wanting top dollar at every opportunity. Be wary and ask the right questions when you choose your agent. Prepare yourself with a list of questions to ask and have a pen handy to jot down their answers - be professional and take your time. It is very costly to buy and/sell a house and you want to keep your costs as low as possible.
Check the commission rate the estate agent is offering. Some will want 2%. This is high in the current market and you must shop around to get the lowest rate. Some will offer 0.75%. You need to haggle and if you are not used to this, remember, it doesn't need to be uncomfortable. You can be upfront and simply state that you want the cheapest commission rate you can get.
The tie-in to the contract must be in your favour. You do not need to go with the agent who has a tie-in after a certain amount of time on their books. In fact, when you sign up with an agent you may be able to give in your notice at the same time. That gives you, say, 4 weeks with one agent and you can renew the contract if you are comfortable with them. Or, after 4 weeks, you can advertise your property with another agent. Again, this is something you can haggle for. This can be a point where people, especially first time sellers, overlook. If you know what to expect you know how best to handle it. Do not simply take the agent's first offer as one that you need to accept. Remember that you are the customer and every estate agent will want your business. Aim for a renewable contract of four weeks with no tie-in and give in your notice as you sign up so that you can renew after four weeks if you are suitably happy with the agent. Speak to the agent about this and again, you can be upfront about it.