Because there are so many estate agents to choose from, it seems like common sense to focus on either the cheapest or most expensive agents. If you’re selling your property to free up equity, downsizing, or are worried about expense, it can be easy to assume that picking the agent with the lowest fees is your best option. Because estate agents fees are the biggest cost of selling a house, choosing to work with the cheapest agent seems to be the best way to get a good deal.
However, many of the lowest priced agents do not have the capacity to promote your home properly. Nor do they have the experience or local knowledge you need to value a property accurately. This could mean that you won’t end up getting the best price for your house, and you’ll have lost out more than you saved.
On the other hand, the more expensive agents appear to offer a level of service that is superior to the others. They promote themselves as able to reach a larger number of motivated and high-paying buyers. This may be the case. However, an estate agent’s ability to sell your house quickly and for the best price comes down to a lot more than their fee.
It’s vital to take into account other aspects of each estate agent’s experience before deciding who to work with. Take the time to research how long it takes the agent to sell a property, how close they usually are to achieving the asking price, and whether they have experience selling similar houses to yours in your local area. These statistics will give you much greater insight into what they can offer you than their quoted fee alone is able to.
We recommend that you get quotes from at least 3 different estate agents. This will give you the chance to interview a few of the people you might work with, and compare whether they are a good fit. When you get these quotes, make sure to ask the agents to include VAT and any potential extras that they foresee arising, so that you’re not caught out later.
Unsure which agents in your area have the right experience? Our data-driven comparison tool provides objective insight into the top performing agents in your area. Check it out here, and see which agents are actually worth their fee.