Estate Agents; A Worthwhile Service?

Many people would be forgiven for resenting the amount of money we pay estate agents whenever we are selling property. It is true that estate agents can earn good money but within the industry it is generally understood that to earn a decent wage, the job has to be fulfilled effectively in order to receive the commission.

No matter what your view of estate agents is, it is a fact that almost ninety percent of property sellers will still use an estate agent rather than following the private sales path. Even so, with the property market in flux and a growth in the number of private sellers, now is the time to assess whether it is better to sell privately.

In terms of costs it is clear that selling privately will do away with the fees of the estate agent and will result in a greater amount of the sales figure going directly into the seller's pocket. It is worth remembering however that even if you are saving money on fees, the cost, in terms of time and effort is far greater when selling privately. So before considering a private sale, consider whether you really have the time to devote to the process. It is this time and effort that still leads many people to choose estate agents.

Advertising is one of the key tasks undertaken by an estate agent. In the majority of cases this is worth the fees alone as it is one of the more laborious processes. Typically agents will use the local press and internet property portals to market homes. Normally the fees for this advertising are included in the eventual percentage taken by the agent; hence it is worth remembering that if going it alone, the cost of this advertising will have to be factored in. One medium of advertising that is not available to private seller is the shop window. This form of marketing, which may seem somewhat antiquated, is still one of the most popular with potential buyers.

Estate agents do not simply market properties however; most will act as a screen for potential buyers, performing the task of weeding out the time wasters. In the same vein, they will also be able to identify worthwhile buyers that may be able to offer more to the seller. One argument is that as the agent is not the owner of the property they do not understand its unique appeal. This view however does not take into account the years of experience and the large number of properties the agent has sold in the past; ultimately there is not much a property can offer which an agent has not seen before.

One of the biggest benefits of employing estate agents is the large pool of buyers they may already have on their books. As a private seller it requires a great deal of effort to root out buyers who may be interested in your property, an agent already has these potential buyers on file and knows whether your house will be suitable for their needs. The result is that the agent can get the ball rolling immediately and if the pool is exhausted, it is refreshed on practically a day to day basis.

Ultimately employing estate agents to sell property is an advisable course of action. While the internet may have made it easier to sell privately, to succeed in the property industry a great deal of knowledge is still needed. Usually the services of a professional are worth the few percent paid in fees.

Seed Newsvine

Bookmark this article in your preferred program

Comments

Add Comment

Popular Articles in this cathegory

This article is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.