Time for A Change? What To Do If You Are Not Happy With Your Estate Agent
The process of selling your property is a daunting task and you want to make sure your chosen estate agent is acting in your best interests to make the selling process easier whilst always trying to achieve your objectives. You want results so what should you do when results aren't forthcoming? Here is some valuable advice...
Your home has been on the market for a while now. Interest in your property has not been as good as you had hoped, or had been promised and you now have doubts that your current agent isn’t performing as well as they should be.
However, if you are going to discuss your agents performance, you need evidence of poor performance, not just a nagging feeling. So, how can you tell if, indeed, your agent is not performing as expected?
Little or No interest
If potential buyers are scrolling past your property on the online portals or not contacting your agent to enquire further about your property or to arrange a viewing, this will be the first alarm bell that your estate agent isn’t performing as well as they should be.
You should have an open conversation with them, voice your concerns and ask why this is the case.
It is advisable to not go in all guns blazing immediately! Ask if there is anything you can do from your side to push things along. Whilst you should have been advised on preparing your home for sale prior to commencing marketing, there could still be something you can do to improve the enquiries or amount of viewings you’re getting.
It is very easy to get frustrated - especially in the first few weeks of marketing - however, selling property really is often a waiting game. The key is to satisfy yourself that your agent is doing everything they can to sell your home. If you believe that they are, then stick with them. If not, then it maybe time to switch.
Review the Marketing Plan
A good agent should have a specific marketing strategy for your home. A plan to get your property seen by audiences that will be most interested in properties of your type, in your location, at your price.
A common reason for little interest in your home is that your agent isn’t putting it in front of enough people - or, more importantly, the right people. If buyers are not aware that your home is for sale, they certainly won’t be booking a viewing.
There needs to be some proactive marketing by your agent. Simply uploading your property to the major property portals (Rightmove, Zoopla, On The Market) and waiting for buyers to come flooding in will not work.
Ask your agent for a full breakdown of how your home is being marketed and take a look for yourself. You should have been presented with your marketing strategy at your initial market appraisal appointment. However, it will do no harm to revisit it.
Ask about the agents own website traffic, property portal statistics and, very importantly, their social media presence. Do they have active accounts? How are they engaging with the online world?
Digital Presentation
Check out your property online. This is where the majority of home hunters will start their search.
You want your home to stand out in the initial search after a buyer has entered their specific criteria. The first impression of your home will either make the user click for more details or, they will simply scroll past it.
Wherever possible, your property profile should include floor plans, videos, professional photography, a detailed description of the home itself and local information such as schools, shops and amenities. If you find your listing lacks any of these, ask why.
Search for your own property - would you click on it?
Incorrect Details and Lack of Updates
Red flag time.
Online marketing moves very quickly, however, that does not mean your property listing is ever out of date. If you discover that the property details are not identical on the different online media, this is a major cause for concern.
Agents should be on top of any changes made to your property's listing. Photographs should be switched, descriptions should be updated and revisited regularly. If you spot any mistakes, inform your agent and note their reaction.
Communication Problems
Communication between agent and seller is absolutely vital.
You should always be comfortable being able to ask your agent anything. They are your property partner and you are paying them a decent fee to sell your home. If calling them makes you feel uncomfortable, the relationship is not right and needs addressing immediately.
If you are constantly being fobbed off or your calls aren’t being returned, this should set the alarm bells ringing too. You should feel like you are their most important client!
If you are constantly chasing your agent instead of your agent regularly updating you, then it maybe time to change.
Team Knowledge
Ideally, every property sale should have a designated, responsible member of the agents team. However, different stages of the sale will more than likely involve different members of the team, however, knowing that there is a single person responsible for your sale will help enormously. That being said, the agents whole team should be aware of the sales progress at all times so you can get updates or answers quickly and efficiently.
Be Openminded
Ask your agent questions to get answers that will put you at ease. Be open minded and don't be offended or annoyed if you hear something you don't like - as long as it is relevant and accurate.
After all of this, if you are totally satisfied that your agent is working with you to sell your home but it still isn't generating any interest, then your asking price is too high. If you are getting viewings but no offers, buyers may well be feeling that your home isn't worth the price compared to similar houses that they have seen.
Price Reductions
If your agents go to solution for increasing enquiries and viewings is to constantly suggest reducing the price then it is likely that their motives for marketing your property in the first instance are questionable.
Yes, there are instances where market conditions change and a price correction is required - but a reductions should not be used as part of a strategy to sell your home.
Many agents are more interested in obtaining listings rather than making sales. Staff are often paid commission for generating new business rather than achieving a sale which naturally focuses individual agents on just securing your instruction and doing little else after that!
What Next?
If you have come to the conclusion that a change of agents will benefit your chances of achieving a sale then you need to check a few things.
Will terminating your agreement incur a fee? Check your agency agreement carefully.
Also, agents will have a minimum contract term; 16 weeks, 20 weeks even 26 weeks is common. Be sure to check whether or not that time frame has elapsed.
When you are armed with your facts, you will be in a much better position to make a decision to suit you.
If you would like to discuss any aspect of selling or buying a home, our team are always available of offer any advice or support. Please call James, Lucy or Joshua on 01332 300195
