Have you ever wondered what an estate does for their client exactly? They take a fee when they sell a property, but that doesn’t mean it is a simple process on their side. The following guide aims to provide a few of the important things that an estate agent can do for you:
- Evaluates your home – one of the things that an estate agent can do for their client is to help them evaluate their home. Setting the worth of a property is a major aspect because it needs to be competitive concerning the current market situation. They use their expert knowledge of the property market, in addition to any nuances added by relative factors, such as the area of the property, the market situation, the specifics of the property, etc. Sometimes, it pays to get evaluations from more than one estate agent, just to see if any of them are over-estimating the price, to secure you as their client. This is a bad practice, which some agents, unfortunately, resort to.
- Market your home – another important aspect of the work of estate agents is their commitment to marketing your home. This includes having professional photographs, drawing an accurate floor plan and a description that attracts interest. Such extras should all be included in the fee that the agent charges for selling and marketing your home. Your estate agent should also be able to explain what the legal requirements are for marketing your home. This includes getting an Energy Performance Certificate. The estate agent might be able to connect you to an assessor, who will do the necessary work to provide you with one.
- Conducts viewings – the estate agent should also conduct viewings and have potential buyers check out the property. They should answer any questions and queries these buyers have. The agent may also arrange an open house, where several buyers come to visit at the same time. The benefit of having an agent deal with viewings is that you can save some effort on your side. Additionally, it is viewed as a more neutral way of doing things.
- Negotiate on your behalf – the estate agent can accept offers for your property and then relay your response to them. The goal of the agent during this time is to have the best interest of the seller as to their main goal. In that sense, they can initiate and lead negotiations, so that both sides come to a mutually agreeable consensus.
- Check how serious the buyer is – estate agents take proactive steps to learn more about the availability of funds for the buyer. This covers things like whether the buyer needs a mortgage, or is a cash buyer. Even if the buyer is not financially qualified, the agent should put it through to the seller. After that, the estate agent needs to monitor the buyer’s progress on achieving the funds.
- Keeps the sale moving – when the buyer accepts an offer, the estate agents issue a Memorandum of Sale to all parties involved – buyer, seller and their solicitors. The estate agent will then make sure things move forward at a quick pace because nobody likes to have a delay due to unexpected issues popping up. At this stage, the estate agent acts as an adviser to the seller, and their role is quite helpful.
These are all important aspects of the work of an estate agent that you need to keep in mind. That is how you will be able to make the most of using such services.