The Truth about Estate Agents – We Debunk Four Common Myths
How much of what you know about estate agents is really true? This three-minute read debunks a few common urban myths.
The digital revolution has given rise to several assumptions about estate agents, but we’re here to tell you they’re not true. It’s time to separate fact from fiction and debunk four myths about estate agents.
1) Estate agents just post stuff on the property portals. Anyone can do it.
Given that 95% of people search for their next home online*, any selling strategy that doesn’t have a strong digital element is a failed one (but more on that in a minute). When selling a property, dozens of decisive calls are made before and after a home is listed online. You must nail the asking price, presentation, photography, viewings and negotiations. Then, once a sale is agreed, you need a professional in your corner to keep the process moving, paperwork ticking along, and wrap up the deal ASAP.
2) Agents are redundant. Properties sell themselves these days.
You can sell a property, or you can sell it for top price. Which one would you prefer? (Bear in mind the difference could be tens of thousands of pounds in your pocket.) There are companies out there that encourage sellers to do it themselves. But as selling your home is probably the biggest (and most stressful) deal of your life, do you want to wing it? Don’t short-change yourself. Get a pro to help you do it properly and more profitably.
3) Digital selling strategies just involve property portals.
There’s no doubt that property portals are essential, but great agents take their digital strategy so much further. They’re active on social media platforms like Facebook and Instagram and work hard year-round to engage their local community. Before choosing an agent, analyse their social media presence and website. The best agents are proactive, professional and have engaged databases that help when it comes to selling your home for the best price.
4) The best valuation is the highest.
Since the dawn of time, some less scrupulous agents have pursued a strategy of making ridiculously high valuations just to land listings. But sellers these days are more price-savvy than ever as a huge amount of information about past sales is available online. Twitchy lenders are also unwilling to provide a mortgage if the price is outside market norms. If your valuation is astronomical, you’ll deter genuine buyers and drag out the sale (and wind up dropping your price eventually). Always go with an agent with a good track record, who gives you comparable evidence and who tells it to you straight.
Bonus myth-buster – Not all estate agents wear pointy shoes, flashy suits and only care about their commission. We take pride in not being your typical type of estate agency.
Get in touch with us here at Millbanks by giving us a call on (01953) 453838 or drop us an e-mail to propertysearch@millbanks.com to discover why people choose us to sell what is usually their biggest tax-free asset.
* Survey by Property Price Advice