How Estate Agents work
Unfortunately, estate agents don’t have a particularly good reputation, here in the UK or globally.
Here is a brief list of some of the most important jobs estate agents do when selling a property:
PREPARING FOR MARKET
We will advise you what you can do to help prepare your house to go onto the market for sale. A personal favourite is to de-personalise the whole house: removing personal photos if there is a lot of them, packing away beauty products on show, and hiding pet toys, litter trays and removing any ‘dirt’ in the garden. Remove ‘clutter’ that won’t be used until after the move. Ensure large boxes are put away in the garage or loft before the estate agent takes the photos and any video.
MONEY LAUNDERING COMPLIANCE
Nowadays estate agents have to ensure identification is provided for both buyers and sellers. We take the legislation side of the job very seriously to protect the people who we buy and sell houses for. If you deal with an agent that doesn’t do this they are cutting corners.
Some say that negotiation is the most important part of an estate agent’s job, getting you the most money for your home. For us, it is very enjoyable agreeing a sale and making sure both buyer and seller are happy. It’s not always the highest offer that is the best offer. It’s about knowing your clients and finding out what motivates both buyer and seller and picking the right match. Estate agents negotiate offers on houses every day and are used to dealing with people’s emotions.
It’s no good accepting an offer and taking the house off the market if the purchaser then doesn’t take any action for 6 weeks
This is the reason I earlier wrote that negotiation is arguably the most important part of the job. And that’s because I would argue sales progression is more important because it is where the process starts to cost you serious money. It’s no good accepting an offer and taking the house off the market if the purchaser then doesn’t take any action for 6 weeks, ‘one in the hand is worth two in the bush’ and that’s why progressing a sale to completion as quickly as possible can not be underestimated. A good estate agent will have contacts with reliable solicitors and be able to recommend one suitable for you depending on your circumstances. The agent will then keep all four parties updated: the seller, their solicitor, the buyer and their solicitor. Often solicitors need a little nudge to move things forward or it might be the seller that needs a reminder to return the paperwork he has had on his table for a fortnight. Remember a house sale is not legally binding until exchange of contracts so a good estate agent will work with all four parties to get you to that point as quickly as possible.
Why are John Lewis more successful than most? It’s not just one thing, but a lot of little things and that’s what makes a good estate agent in my opinion and something as a seller it is very difficult to judge on just one meeting