If you are considering appointing an agent ...

Print off and note their response:

Here’s a checklist for interviewing prospective estate agents - when marketing properties in England and Wales

These are the KEY questions you should ask each estate agent, before you decide to appoint one.

You may possibly feel that the following is too laborious to bother with, in which case we’d be glad to promote your house advert online, independently of all agents, using the Property-Match web site instead.

Please note that we would like to be able to offer professional advice to both buyers and sellers during their property transactions.

However, if we did so, this would, unfortunately at present, bring the whole of Property-Match (UK) under the scope of the Estate Agents Act meaning that we would have to physically inspect each property and do independent measurements as well as the particulars drafting etc..

We are therefore forced to decline to offer such advice formally, unless the law is changed but you are, of course, welcome both to advertise houses with us and to discuss your intentions for the marketing of the house you wish to advertise with us. It’s just that you must realise that any advice we may give, is merely that; just informal advice and therefore it should only be treated as such.

Ask each agent in turn, the following questions:

1.Firstly obtain their branch office’s name and address.
2.Secondly, explain the timescale that you would like to allow for the marketing of the particular property being sold (this is vital information for the agent, if they are to know how to value for a sale within the time to be allocated.
3.Having seen round the house, what are your thoughts? If you have an appraisal figure, how (exactly) have you arrived at it? [Please be aware that a proportion of agents undervalue in order to get a quick sale, a proportion overvalue in order to gain the instruction and the remainder tend to value houses fairly. It’s best to select one of these. There is however, a third kind of appraisal ‘card' that estate agents sometimes play. They ask you, the owner, what you think the property is worth. The answer given usually tends to be on the high side (understandably), but the agent will usually agree anyway. He is in fact acting like the agent that quotes high, just to get the instruction but he saves himself having to do the persuasion. Please be aware of this. It is better to ask the agent for the suggested asking price and not suggest one yourself - after all that is why they are there.]
4.Do you think prices are going up, or down in this locality currently? Is it a buyer’s or a seller’s market currently?
5.How many similar properties to ours have you sold over the past 6 months and what prices did they achieve?
6.How long did you take to sell these houses on average?
7.Approx. how many viewings did it take to get each sale?
8.Are you aware of buyers who are currently looking for houses of this type and price range; and are any cash or in a sold position right now (it does happen)?
9.Will you constantly advertise my property in your window for the first ten weeks, or the initial duration of the agency contract?
10.What buyer-matching activities do you do within your office, to find both locally and nationally sourced enquiries?
11.Which Internet property portals will my property appear on?
12.Can I have online access to check the recent viewing statistics for this property?
13.Are both floor plans and room pictures included in the property details provided?
14.Who, in your office, will be dealing with my property? (If possible, at least meet them and have a chat.) Will they all come and see the house for themselves?
15.How do you check that buyers can afford my property?
16.Will you (for example) only send people to view if they have their loan finance already allocated, or do other checks first?
17.What procedures do you have, to follow up each viewing and what feed back do you expect to obtain from viewers, following a viewing?
18.Will you also do accompanied viewings, if required and could they be arranged for weekends and evenings as well?
19.Is the EPC you arrange a portable one, in the event that your agency contract should come to an end, for any reason? (Will it be compiled by a registered and accredited Domestic Energy Assessor?)
20.May we pay your EPC provider direct instead of giving you the money first?
21.If I prefer to, may I arrange my own EPC, e.g. through my solicitor instead?
22.Will it be OK for me to market my own property privately too? It would be best to have this specifically covered in the contract, by a footnote, so that there can be no misunderstanding. Possible wording: - “Whilst this contract is in operation I may introduce private buyers to the house without incurring any fee liability under this contract.” In addition, you should strike out any clause suggesting a dual fee would be payable if a website other than the agent’s one is used.
23.What will your agency fee be (fixed, a percentage, or a mixture)? Even though agents will naturally present their fees as being non-negotiable, they are without question, negotiable. The OFT market study into home buying and selling [OFT1186 Feb 2010] highlights agent’s fee pricing points [Page 66-69]. These depend on house price bands. 33% of sellers manage to negotiate a lower fee with their chosen agent. It is perhaps appropriate to suggest that if agents can’t negotiate on their own fees, how good might they be at negotiating the correct price for your property when the time comes? OFT Findings OFT Q&A
24.Will there be an upfront sum or registration fee payable?
25.Which consumer redress scheme(s) do you belong to and if I should have a complaint, how would it be handled?
26.How long would I be locked in to the agency contract we are considering? (Beware if this exceeds 8 weeks + 2 weeks notice.)
27.If you are appointed, please confirm I will have a right of approval (and for checking the accuracy of) the property particulars before these are printed and before they go live online?

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