If you are considering appointing an agent ...

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.

If you feel (and you may well be right) that the following is too laborious to bother with by half, we’d be glad to promote your house advert online, using the Property-Match web site instead.

We would also like to be able to offer professional advice to both buyers and sellers during their property transactions.

However, if we did so, this would 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 and particulars drafting etc..

We are therefore forced to decline to offer advice until the law is changed but you’re welcome to advertise houses with us of course.

Ask each agent in turn, the following questions:

✴Their branch office’s name and address?
✴What is your appraisal figure and how (exactly) was it arrived at?
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. Its 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 very aware of dealing with this kind of agent.
✴Ask each agent to define 'market value'? If they include the phrase 'best price' or willing buyer, be doubtful and ask them to define 'valuation'. For our definitions please see our page: How to Value.
✴If they again suggest ‘best possible price’ without mentioning valuing by adjusting for differences between recently sold prices and the house about to be sold, we advise you to put them on the extremely doubtful list.
✴How many similar properties to ours have you sold over the past 6 months?
✴What prices did they each achieve?
✴How long did you take to sell these houses?
✴How many viewings did it take to get each sale?
✴How many buyers are you currently aware of as looking, in my property's price range?
✴Are any of the buyers that you know (that may be interested in buying this house) either in a cash, or in a sold position right now?
✴Will you constantly advertise my property in your window?
✴Will you advertise my property in a local newspaper, if so which one and how often?
✴When you do a mail-shot, how many of my details would you plan to send out?
✴How do you match details to applicants?
✴Which property portals will my property appear on?
✴Are floor plans and room pictures included in the property details provided?
✴Who, in your office, will be dealing with my property? (If possible, meet them and have a chat.)
✴How many different members of staff might show the viewers around my property?
✴Will you accompany buyers on all viewings?
✴Do you arrange weekend and evening viewings?
✴What procedures do you have, to follow up each viewing?
✴Will you only send people to view if they have their loan finance already allocated?
✴How do you check that buyers can afford my property?
✴How will you deal with any problems: E.G. No viewings, no offers, bad survey, buyer withdraws without reason, buyer fails to secure their loan finance. Who deals with sales chain progression work?
✴Is the EPC you arrange a portable one, in the event that your agency contract should come to an end for any reason?
✴Can I arrange my own EPC through my solicitor instead?
✴Will it be OK for me to market my property privately too? It would be best to have this covered in the contract, by a footnote if necessary, so that there can be no misunderstanding.
✴What estate agency qualifications have you / your staff each got?
✴What would 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
✴Will there be an upfront sum payable?
✴What charges do you make, apart from your agency fee and to whom?
✴Will you inform me and in writing, if you agree to take any payments from any 3rd parties in respect of my house instruction?
✴Which consumer redress scheme do you belong to?
✴If I should have a complaint, how would it be handled?
✴What other associations do you belong to?
✴How long would I be locked in to the contract we are considering? (Beware if this exceeds 8 weeks.)
✴If you are not introducing buyers and getting offers, would I be allowed to cancel the contract early?

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