When selling your home, how do you find a reliable estate agent – especially in a sector that’s about as well regulated as barrowload of spider monkeys.
Young London, a lettings, sales and management agency that considers itself to be on the side of the saints rather than the spivs, offers some tips to help sellers identify a reputable agent:
Play web detective: Research the agent’s website – check whether they are members of any professional associations, if they have won any awards and whether their information is easily navigable, up to date, and accurate.
Do they stand out from the crowd? With more than 80% of house hunters turning to the web for their property search, online marketing has never been more important. Does the agent use twitter or facebook to reach a wider audience and do they advertise directly online, or is your property left languishing, lost on the portals?
What are they marketing? Agents already listing properties similar to yours should have a clear idea about rental and sale values, a greater understanding of the local area, and potentially a long line of registered applicants already seeking property in comparable areas and price brackets.
Testing, testing… A quick way of testing if an agent knows their stuff is to ask them about Home Information Packs, Home Reports (in Scotland), Energy Performance Certificates, Gas Safety Certificates and Tenants’ Deposit Protection. A good agent should be able to talk about these confidently and explain your legal obligations when selling or letting.
Check them out… Prepare a checklist of questions; make sure the agent knows the market, ask them specifically about local amenities, the demographics of the target market and how well your property fits into it. You’ll also want to check what is the likely demand and how quickly they think they can sell or rent your property.
First impressions count: Is the agent responsive and do they follow up your enquiry with an informed answer? Their initial contact could indicate their professionalism and how they run their business.
Seek out hidden charges: A reputable agent should be transparent and upfront about their fees from the beginning. Don’t be tempted to go for the cheapest agent you come across; make sure you are clear on their charges and investigate the full range of services their quality of service.
Lettings retention and renewals: If looking for a lettings agent, do the tenants generally stay for the duration and how many tend to renew their tenancy? In terms of renewals, remember, the agent should be negotiating on your behalf to achieve the best possible rental and aim to avoid renewals coming at a point in the year when demand is low, such as near Christmas.
How do they manage? Any letting agent with a strong property management team should have reliable contractors to fix any headaches. Are their maintenance firms members of any professional bodies? Can they tell you the cost of typical maintenance jobs and how soon they would expect to have someone on site after a reported problem?
