The Benefits of Partnering with a Real Estate Agent to Sell Your Property:

Selecting the right agent can be a challenge, given the variety of services available in the UK. These range from basic listing services that place your property on major online portals like Rightmove to comprehensive agencies that manage every aspect of the sale, from conducting viewings to finalising the deal.

Typically, an agent will:

• Offer a valuation of your property and suggest a marketing price

• Advertise your property across their network

• Screen potential buyers, organise viewings, and handle negotiations

• Provide ongoing advice to help you achieve your selling goals

• Maintain the sales momentum and address any issues that arise
  

The cost of hiring an agent varies, depending on the level of service you choose, and is usually based on a fixed fee or a percentage of the sale price, generally ranging from 0.5% to 3% plus VAT. Many agencies operate on a 'no sale, no fee' basis, although some now charge upfront fees to stay competitive and adapt to new market approaches.

Upon deciding to work with an agent, you'll need to sign a contract outlining the terms of your agreement. There are primarily two types of contracts:

• Sole Agency Contract: This agreement stipulates that you will work exclusively with one agent for a set period. It's crucial to understand the duration of this commitment, the procedure for ending the contract, and any costs incurred if you choose to sell through another party.

• Joint Agency Contract: This allows you to employ multiple agents, which might increase the fee due to the heightened risk of another agent making the sale. In this arrangement, the fee is typically awarded to the agent who first introduces the buyer. Always clarify the fee structure in case of overlapping introductions by different agents.
  

Employing a real estate agent offers several advantages:

• Agents possess in-depth knowledge of the local market, drawing from daily experience as opposed to the average homeowner's infrequent sales.

• They provide professional guidance tailored to your objectives.

• Agents leverage their network and market insight to attract potential buyers.

• They alleviate the stress and hassle associated with direct buyer interactions.

• Agents help detach personal emotions from the selling process, crucial for transactions involving your own home.

• They serve as a buffer and guide through any transactional challenges.

• Listing with an agent ensures your property is visible on major portals, maximising exposure.

• Agents minimise the risk of errors, thanks to their expertise and experience.
  

In essence, a real estate agent not only enhances the visibility of your property but also provides a strategic advantage, making the selling process smoother and more efficient.

Contact veera@alistproperties for a free valuation.

Written by Veera Josey, 9th February 2024