We’re often asked; ‘What will you do to earn your fee when selling our property?’. In this article, we explore this common question that often pops up in the minds of homebuyers and sellers.
While it’s natural to have some concerns about costs, we’re here to shed light on the value that estate agents bring to the table and why the fee a good estate agent charges for their service can be worth every penny!
Let’s face it, everyone loves to feel like they’ve got a good deal, and it can be tempting to go with a cheaper option, even when it comes to selling your home. After all, as long as your property sells, does it really matter which agent you choose?
Well put simply, yes, it absolutely does matter! For most of us, selling our home equates to trading our biggest asset, so it makes sense to select an estate agency who will get you the best return on your investment. With this in mind, the most successful agents tend to charge higher fees, which helps to ensure the best level of service.
In fact, choosing the cheapest agent can actually end up losing you money if they do not have the skill set, resources and experience to negotiate the best offer on your property. Plus, many of the cheaper agents (especially online agents) ask for their fee to be paid upfront, and if you think about it, why would they work their hardest for you when they’ve already been paid? A good agent will usually work on a no sale, no fee basis, meaning if they don’t sell your property, you won’t pay the agreed fee in your contract. This ensures your agent will work hard for you throughout to get you the best price for your property and get your sale through to completion.
So, let’s break down exactly what your fee pays for:
Expertise and Market Knowledge:
One of the primary reasons estate agents charge a fee is because we provide a wealth of expertise and market knowledge. Property transactions can be complex, and navigating through them successfully requires specialised knowledge and experience. Estate agents dedicate their time to understanding local property markets, analysing trends, property prices, what buyers are looking for and staying up to date with relevant regulations. By doing so, you receive valuable insights and guidance, helping you to make informed decisions including marketing your property at the right price.
Time and Effort:
Selling or buying a property involves a significant investment of time and effort. Estate agents undertake numerous tasks on your behalf, saving you from the hassle and stress that come with the process. From property valuations and market research to organising viewings and negotiating offers, agents handle a multitude of responsibilities, ensuring you a smooth and efficient experience. By charging a fee, we can dedicate the necessary time and resources to achieve the best possible outcome for you.
Marketing and Networking:
Another essential aspect of an estate agent’s role is marketing the property effectively. We employ various strategies to showcase your property’s highlights, such as professional photography, videography and virtual tours, floorplans and engaging descriptions. Additionally, agents have access to extensive networks and platforms, both online and offline, to promote your property to potential buyers. Through marketing efforts and connections, we increase your property’s exposure, attracting a larger pool of interested parties and potentially securing a higher selling price. The fee charged by estate agents covers these marketing expenses and ensures your property receives maximum visibility.
An Established Brand:
The more reputable an estate agency is for helping people buy and sell houses in an area, the more their fee may be. This is because many buyers will be far more inclined to make an offer on a house that is marketed by a well-known and trusted estate agent with a reliable sales reputation.
Negotiation Skills:
Negotiation is a crucial element in any property transaction. Estate agents possess strong negotiation skills honed through years of experience. We act as intermediaries between you and your buyer, advocating your best interests. Skilled agents are adept at navigating complex negotiations, finding common ground, and achieving favourable outcomes for you.
Sales Progression Support:
Additionally, we offer emotional support during the sales process, alleviating the stress that often accompanies buying or selling a home. At Arden, we’ll provide you with a dedicated Sales Progressor, who will become your main point of contact. They will be in regular contact with you, your buyer and the solicitors in order to be able to update you on the progress of your sale right through until completion. The fee charged encompasses the value they bring through their negotiation expertise and unwavering support.
Finding Your Next Dream Home:
Last but not least, when you are paying an agent to sell your home, not only will they have your best interests at heart regarding your sale, but they’ll also provide additional support in helping you find your onward purchase. At Arden, you will always the first to be told about upcoming properties that suit your criteria, often before properties even hit the market. Working together this way helps to ensure smooth and stress-free sale completions on both your current and next home.
Now that we’ve explored the question of why estate agents charge a fee, hopefully it’s evident that we offer invaluable expertise, save you time and effort, employ effective marketing strategies, and negotiate on your behalf, all while helping you find your next property. Our fees reflect the value we provide throughout the entire journey. By enlisting the services of an estate agent, you can confidently navigate the complex world of property transactions, secure favourable outcomes, and experience peace of mind.
Remember, behind every fee lies a dedicated professional team ready to guide you through the exciting process of buying or selling your home. So, the next time you embark on a property adventure, embrace the expertise and support that an estate agent can offer— we’re here to make your dreams come true!
For a Free Valuation, contact your local Arden branch. We have offices in Barnt Green, Bromsgrove, Lydney, Redditch, Rubery, Solihull and Worcester, and our friendly team of experts are here to advise and help you every step of the way!