When you first signed up with your estate agent, you no doubt did so because you were confident they could sell your home.
But perhaps now, following multiple viewings and maybe even an offer or two, things have started to look rather different. Is your asking price too high? Has the market shifted? If even your agent seems to be losing hope somewhat, you could well be questioning whether you need to hire someone else for the job.
Certainly, if you don’t think enough viewers are coming to look at your place, or if you feel under pressure from your agent to bring down the asking price, or if it seems your estate agent has stopped communicating with you, or your home isn’t listed on the big portals, these are all potential red flags and reasons to consider hiring someone else.
It may be that your current agent hasn’t done such a bad job, but it’s now time for a change of direction and a fresh approach. Or maybe their early promises haven’t been fulfilled, leaving you dismayed that your property still hasn’t sold.
Here’s our checklist of things to bear in mind if you’re in this situation and considering switching agents:
- Look at the small print
Understand what you have signed up to, so that you know where you stand legally before you switch. Essentially, you’re likely to have committed to an estate agents agreement.
A sole agency set-up is one of the most common, and means your current agent has exclusive rights to sell your property as long as the contract is valid.
Whatever the arrangement, check whether you’re tied into a minimum notice period and, if so, how much of that remains. Understand any fees for early termination of your contract, plus any continuing liability to your agent once the notice period has elapsed.
The Property Ombudsman’s Code of Practice clearly states that if a vendor ends their contract with an agent, they should receive clear written details of all ongoing liabilities.
Another option is a multi-agent agreement, in which the sale is opened up to others – although you’d normally pay a higher fee for an arrangement like this.
- Research prospective new agents
Now that you understand your rights, you can research a shortlist of new estate agents. And, as when taking on any other service, it’s worth asking friends and family for recommendations. At the same time, check out their Google reviews to see how others fared with the agents you’re considering hiring.
Equally, look at how agents come across on any social media. Do they resonate with you online? If they do, the odds are you’ll get on with them in real life as well.
- Look at the facts
Consider the number of viewings you’ve had and over what timeframe, and ask your agent whether this is typical for similar properties they’ve worked on.
On the big online portals, are similar homes to yours under offer by now – or still on the market?
Additionally, ask yourself whether you’ve had consistent interest in your home while it’s been on the market, or whether viewings have been decreasing in number.
- Make sure you’re genuinely getting a better deal
You’ll naturally want to ensure the switch really is worth it. Look for:
- Enthusiasm for your property – this should be apparent from the first meeting onwards.
- Initiative – what will the new agent do to be proactive in marketing and chasing offers and viewings?
- Make sure the new agent has enough time to dedicate to your property sale. Of course, it’s great if your potential agent is in demand, but they need to have enough time to commit to your sale.
Summing up
Once you’ve decided it’s definitely time for a new agent, look at your current contract and any conditions you’re tied in to. If you have a set notice period, you’ll need to allow it to elapse first; otherwise you’ll be in breach of your contract.
Next compare agents based on how briskly they sell properties like yours, how close they typically get to the asking price and so on. Interview prospective agents to see which is likely to provide you with the best value.
Then discuss terms with your preferred new agent and ask them about tie-in period, commission and any applicable notice period. Finally, you’ll be ready to sign you new contract.
Oakfield says
At Oakfield Estate Agents we often take on customers who have decided to switch from their previous operator. We work across East Sussex, with a presence in Lewes, Heathfield, Uckfield, Hastings, Eastbourne and Bexhill, offering lettings and sales. We’ve frequently succeeded where our competitors have failed.
So if you live in our area and have struggled with a previous agent to sell or let your home, get in touch, check out our contact details here.