7 smart questions to ask your estate agent

Your home may be repossessed if you do not keep up repayments on your mortgage.

Your choice of estate agent will play a momentous role in how quickly your property is sold – and the selling price you achieve. This decision could earn you thousands of pounds and save you a ton of stress. It shouldn’t be taken lightly.

That’s why it’s recommended to communicate with several estate agents before deciding which one to instruct.

• What's in this guide

  What's in this guide

  1. How much is my property worth and why?
  2. What is your fee and is it negotiable?
  3. Have you sold properties like mine before?
  4. What services will you provide?
  5. Is there anything I should change about the property before listing it?
  6. What is the follow-up process with buyers who have viewed the property?
  7. Will you be selling my property or a different member of the team?

How much is my property worth and why?

It’s an estate agent’s job to attract the best selling price for your home, but that doesn’t mean you should automatically instruct the agent who values it highest.

It’s a common strategy for agents to overvalue your property in order to win your business.

In this scenario, the agent often struggles to attract buyers and ends up dropping the selling price after a few weeks. The end result is a huge delay in selling your property. An unnecessarily stressful situation for you.

By getting valuations from at least three estate agents, you’ll gain a better understanding of your home’s true value.

It’s also recommended to probe agents on how they calculated your selling price. Even better, do your own research. You can use websites like Rightmove or Zoopla to see how much similar properties in your area are selling for, then compare these properties to your own. This should give you enough insight to decide which agents are giving you a realistic valuation.

What is your fee and is it negotiable?

High street estate agents tend to charge a fee based on a percentage of the property’s selling price. These fees typically range anywhere between 1% and 3.5%. This serves as a motive for them to achieve the best possible selling price.

Some online estate agencies charge a fixed rate, which can often work out cheaper, although the service they provide is not always as comprehensive.

Either way, many agents will drop their fee in order to secure your business, so don’t be afraid to haggle. If you’ve visited several agents, you could quote a competitor’s fee and ask your preferred agent to match it.

Take note of how well they haggle. An agent who bargains hard for their own fee will surely do a great job of negotiating a good price for your home.

If they refuse to drop their fee, consider negotiating on other areas of the service, such as the notice or tie-in period.

Have you sold properties like mine before?

Estate agents who have sold similar homes to yours will understand the key selling points that buyers are looking for. They’re also more likely to have a large pool of prospective buyers already on their books. You should ask how many buyers they have looking for properties in your price range.

Alternatively, instead of asking whether they’ve sold houses like yours before, you could approach the agents who are currently selling similar properties to yours.

What services will you provide?

Estate agents may be able to justify a higher fee if they provide a more comprehensive service. Here are some questions you should ask about the services they provide.

• Will they conduct viewings on your behalf or will you have to do it? Do they conduct viewings on evenings and weekends?
• What marketing materials do they prepare (e.g. professional photographs, floorplans, online tours)?
• Where will they advertise your property? Will it feature on the big property portals? In newspapers? Do they provide a “for sale” board?
• Will they provide an Energy Performance Certificate (EPC) and how much will this cost?

Is there anything I should change about the property before listing it?

This question will help you prepare the house for sale. It will also give you a good idea about an agent’s expertise. Ask them what they would emphasise to buyers while showing them around the property. If they can sell the benefits well to you, there’s a good chance they can do the same with potential buyers.

What is the follow-up process with buyers who have viewed the property?

Will the agent follow up with buyers who have viewed a property? Do they vet them to check their personal situations and affordability? The more detailed this process is, the less likely you’ll have a sale fall through.

Will you be selling my property or a different member of the team?

Selling your property can be a stressful experience. You have to rely on a number of third parties to complete the sale and this can sometimes leave you feeling helpless.

The estate agent is arguably the most important person you’ll work with in this process, so it’s worth finding an individual who you trust to do a great job. If you know that it’s this person (and no-one else) who’s responsible for securing a great selling price, it can give you peace of mind.

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