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Should I instruct the agent that offers me the lowest fee?

Using an estate agent based purely on fee is always a very strange concept. Just take a moment to consider what you are doing.  The company you are instructing to represent you in the sale of what is generally the most expensive asset you own, is basically unable to negotiate their own terms of business successfully.  They clearly don’t believe in the service they provide and believe that offering their services at a vastly reduced rate is the best way to attract clients.  Is this really the agent you trust to secure the very best possible price on your home?  They have just given their own service away at what can sometimes be a hugely discounted rate without a second thought, so why for one moment, would you consider this company to be the right agent for your home?

Selling a property in a rising market with demand outstripping supply is not exactly an arduous task but that really is missing the point.  The role of an agent is to maximise its clients return.  Not about simply finding a buyer and agreeing the deal as expediently as possible.  A good agent will spend thousands of pounds marketing a property correctly.  Professional photo’s, floor plans, press and internet marketing comes at a price.  As does employing, educated, qualified and competent staff that will be responsible for handling the sale of your property.

The public are always the first to revel in the media coverage of the behaviour of unscrupulous estate agents and yet it is the public who create the opportunity for these people to exist.  When I was actively working as an estate agent it always staggered me that the public seemed more concerned with how much discount I could offer them on my fee than they were in my credentials as an estate agent.  Did they want to know about the company’s accreditations, the awards, the testimonials from previous clients, the lengths we go to, to ensure the very best marketing and presentation or our track record?  I think you already know the answer to that.  The secret to good estate agency is successful marketing.  Attracting a variety of potential buyers that then have to enter a highly competitive market to secure the property they desire.  Is the cheapest agent the right agent to fulfil this role?   Very rarely is the honest answer.

10/11/17

Should I instruct the agent that offers me the lowest fee?

by Alasdair Carpenter

Valuation

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