Selling through an estate agent offers a number of advantages
and disadvantages. It may not suit everyone but it is still the
best option for some people.
Pros
All paperwork, viewings and offers should be taken care of
for you
Your agent should have a list of people looking for properties
like yours and should be very familiar with the local market
You should have a good chance of getting the maximum sale price
possible
Your home should be marketed and advertised widely in all the
right places
Cons
Not all estate agents offer the service described above
Some estate agents will put pressure on you to use
their mortgage brokers and surveyors - because they get
commission from doing this
Potential buyers using the agents' mortgage broker may get
preferential treatment over those who do not - regardless of who
makes the best offer for you
Estate agents' fees vary widely but can take a big chunk out
of your sale price
In fact, some estate agents are pretty crooked - so make sure
you get valuations from two or three and don't be afraid to quiz
them about how they work.
Remember...
If you do choose to sell your home through and estate agent, make
sure you understand all the details of the contract:
What will all the fees be?
How long are you tied to that agent?
Don't be afraid to negotiate on fees - even the
government recommend it!
In 2004, an Office of Fair Trading report* into
estate agencies concluded that "Consumers can and
do benefit from shopping around and negotiating on fees. This should
be encouraged."
*Estate
Agency Market in England and Wales, Office of Fair Trading, March
2004. (Crown Copyright).
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