Here, we explain how to get your own way when dealing with estate agents - and what to do if things go wrong.
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Buying through an estate agent
Selling through an estate agent
You don’t have to sell your property through an estate agent these days. There are plenty of sites that let you do it yourself. Check out The pros and cons of online estate agents for more.
But if you still want to use an agent, be sure to follow these tips.
Do your own research
Speak to family and friends – do they have any recommendations for good estate agents in your area? Check out local newspapers and the for sale boards to see what sort of presence the different agents have.
Get a range of quotes
Don’t just get a single valuation. Invite at least three estate agents over to value your property and get them to explain exactly why they’ve come to the conclusion they have.
While it would be nice if you could get the highest valuation when you sell your property, don’t let that influence who you go for.
Find out how the property will be marketed
The estate agent works for you. So you need to know exactly what you are paying for. How do they plan to expose your home to the biggest number of potential buyers? Do they have an online presence? Will they be handling showing interested parties around your house or will they be leaving it up to you?
Make sure you’re happy about the way your property will be sold before you sign up. And hold them to it – don’t let them fob you off if they aren’t holding up their side of the bargain.
Incentivise them
The fees that you will have to pay the estate agent are always negotiable, so make sure you haggle.
Another option is to use a ‘fee ladder’ to incentivise them to get the best possible price for you house. The higher the price they sell for, the better their fee.
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Complaining to the Property Ombudsman
If your experience with the estate agent has not been the best, then you’ll first need to complain directly. If they don’t deal with that complaint to your satisfaction, raise your issues with The Property Ombudsman (TPO).
You should be fairly confident of getting a result: in the last year, TPO received 3,304 complaints that required a formal review and, of these, 83% were supported.
TPO will consider your complaint if you believe the estate agent has:
- Infringed your legal rights
- Failed to follow the rules and obligations under any code of practice they may have signed up to
- Treated you unfairly
- Been guilty of maladministration
For more, check out the complaints process section of the Property Ombudsman’s website.
Thanks to Samuel LeGood of Abbot Fox for his help with this article.
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