Both types of agreements have their plus and minus points. The commission rate for sole agency is cheaper than multi-agency but if you instruct the wrong estate agent you will be stuck with them for the duration of the contract. But while this may keep them on their toes, it may also keep them from being honest with you. Unfortunately, this buyer has an incomplete chain below them. Your agent advises you against accepting the offer until the chain comes together, which is sensible advice. Now, same scenario, only this time three estate agents are vying for the commission.
The information provided to the seller may differ.
How to Negotiate When Selling Your Home
The buyer may be presented as being in a stronger position than they really are, so the offer is accepted and the other agents back off, buying time for the less than truthful agent. Instructing too many agents can also give buyers the wrong impression. All the agents advertised the property with Rightmove which meant the property came up eight times consecutively on the search results page.
Did prospective buyers think the seller was keen or desperate? A stream of low offers determined the latter to be the case. If multi-agency is your preference, stick to a maximum of three estate agents. When property is scarce, competition between estate agencies can be fierce. Providing a prospective seller with an inflated appraisal of their home has proved a reliable tactic for agents to win business over their rivals.
Check the property pages of your local paper as well as the internet. However, bear in mind that websites listing sold prices will not specify if a property was in good order or required refurbishment. Invite a minimum of three estate agents to appraise your property.
Buying A House
If one recommends a much higher asking price than the others, ask him why — does he have a special buyer that will pay the higher price? Lastly, do not disclose how much you want for your home or what other agents have quoted until the estate agent in front of you has completed their appraisal and presentation. I remember one chap instructing us to sell his home then becoming extremely difficult with viewings — allowing us just two one-hour slots a week. He then went away on holiday without telling us and on his return complained about our lack of results and took his property off our books.
Thinking about Selling your Home?
Ask that they phone ahead of visiting the property. If you provide your agent with a set of keys, they should be stored securely and never released to anyone except authorised people such as surveyors.
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And once again, a phone call in advance is courteous. Even where the seller is available for viewings, the estate agent should accompany buyers whenever possible.
Doing so will allow other members of the sales team to see the property, not just the negotiator who appraised it. They should provide you with a breakdown of how the buyer intends to finance the purchase.
If the buyer has a chain, your estate agent should check details of that chain prior to notifying you of the offer. We are there when you need us, in person, by phone, or by text message. It is easy to hire any agent, but choosing the most qualified agent takes planning. Your house spends fewer days on the market when you have a qualified, experienced, honest agent working with you. We are able to answer any questions that you may have about selling your home. E-mail Revolution Realty at realtyrevolutionnola gmail.
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