Should you switch estate agents? - What you need to know before you do!
If you have your home on the market, you will probably have received several letters or leaflets from competing estate agencies.
They may well have made promises about the number of interested people they have looking for a property exactly like yours.
So what should you do??
If you have your home on the market, you will probably have received several letters or leaflets from competing estate agencies.
They may well have made promises about the number of interested people they have looking for a property exactly like yours.
They may have sold similar properties in your street recently.
These letters are so commonly used because it is almost impossible for an estate agent to know when you are ready to put your property on the market, but it is clear that you are trying to move if you are already listed.
You may think that this seems silly because you have already signed up with an agent, but if you haven't found a buyer by the time your current contract runs out, you may consider switching agents and hopefully use them instead.
So if agents are going to the effort of sending letters out to all of the properties on the market, hoping that you will switch, there must surely be some merit in changing, right?
After all, they say that a change is as good as a rest, don't they?
The truth is that there is no right or wrong answer.
Sometimes a change can be as good as a rest and, with a fresh approach and updated marketing, the second agent can often be successful and result in offers for your property.
But it is essential to know when it is time for you to change, and not just be swayed by the marketing of the other agents.
1 - Have you tried everything with your current agent?
When initially having your valuation appointments, you selected your present estate agent for a reason. They must have impressed you because you gave them the business to start with, so don't make any rash decisions, but do you feel you have tried everything? Have they made any suggestions to change up the marketing of your property?
2 - Has your current agent let you down?
Thinking about the process so far, have you been happy with the service provided? An estate agent can not force someone to buy a property, so they can never really guarantee a sale. But have they done everything that they can to generate interest and viewings? Have they called you back when they said that they would? Have you been happy with them on the whole? If you have, then perhaps changing agents will not be better for you? Stick with them if they have done an excellent job, but talk things through with them about your marketing and what can be done to help increase your number of viewings.
3 - Has the new agent promised anything that sounds too good to be true?
Sales patter often exaggerates slightly and may promise the earth. They may have told you that they have a buyer waiting. Often this is an empty promise and will leave you feeling disheartened as soon as you change over to them when this mysterious buyer never appears. If they have promised this, then ask them for some assurance. Perhaps they can prove who the buyer is? Maybe you can agree to have a viewing with that individual? If they have given you a guaranteed timescale for selling your property, ask them how they will achieve this - what is their strategy, and how can they back up the guarantee?
The key point here is don't through the baby out with the bathwater.
The new agent may have promised lots of things that they can't deliver on.
Estate agents can't magic up a buyer, and sometimes it takes time to match the perfect buyer to a property.
If you are communicating with your agent regularly, and they are trying everything they can to secure a sale for you, there is no need to head off to pastures new.
If however, your agent is not communicating with you, and they are not forthcoming with new ideas or viewings, perhaps it is time to look for a more proactive option?
Be careful if you decide to switch agents, as you may end up being liable for paying a fee to them both if you sell the property during the transition.
Check that you are outside of your fixed contract with your current agent before you instruct your new agent to do anything.
Serve notice to end the marketing with the current agent. Check the date and terms so that if the new agent sells the property straight away, you will possibly end up having to pay them both!
If you are unhappy with your estate agent and are thinking of switching, give us a call, we are happy to help, and we will check your current terms of business for you to make sure that you do not end up in hot water!