What are the pros and cons of changing estate agents?

Employing the services of an estate agent can be among the most popular methods of selling a house within the UK. If you select the services of an estate agent Kettering to assist you in selling your property, you’re placing your trust in them to swiftly locate a buyer for the most affordable price and to see the sale through until it is completed. What should you do in the event that things don’t take the way you expected?

Estate agents cost thousands of pounds to provide their services, so you need to ensure you’re getting your money’s worth. If the estate agent you’re currently working with isn’t able to sell your home then you’re better off finding a different one who is able to do it, or is that right? It all depends on the situation.

If you are a seller, changing to a different estate agent isn’t as simple as it may appear. There are a variety of practical commercial or contractual reasons for staying with the agency you’re currently with is the best choice. Before you decide to move your company elsewhere, you’re advised to weigh the advantages and cons of switching estate agents.

Benefits of switching estate agents

If your home has been on the market longer than you thought, the sales have slowed down and you’re not getting offers that are close to the price range, then you might be wise to ask the agent. If you feel they’re not in a position to find an interested buyer, haven’t put into the process enough or you’ve been unable to work with them due to different reasons, it might be time to consider doing something new. The primary benefits of switching estate agents in order to sell your home are:

Improved relationship. When your working relationship with the agent has broken down and they’re not communicating effectively and with you. Or even worse you find them to avoid your calls or messages and you don’t get a response, it will be very difficult to work with them again. Change of agents can allow you to develop a relationship with another person who can offer all the assistance and support you require.

A fresh market analysis. If you’ve taken the advice of your agent but it’s still not working you, they might have not understood the market. An estate estate agent may review the most recent price comparisons and offer a new viewpoint to consider.

Reach new potential buyers. Each estate agency has its own databases and channels for marketing. Moving agents can expose you to a different set of buyers who haven’t yet visited your home. Utilizing a tool for comparison such as GetAgent will help you locate agents who have a proven track of selling similar properties to yours.

Fresh enthusiasm. If your current agent isn’t inspired to sell your property selling the property to an individual eager to sell is a great way to draw attention to your property. This could even help your agent jump into action for a final action before losing the contract to a competitor.

Marketing will undergo refreshed: Property owners receive the greatest interest when they first hit the market. A ad that’s been laying for a long time becomes old because buyers have had a look at it before, or believe there’s something wrong that’s wrong with it. A new listing with fresh photos and a description could spark excitement.

Bring fresh strategies to table. Your current agent may have gone through the typical strategy and then be puzzled about why the house hasn’t sold. A different agent with expertise, market knowledge or a creative mind could have some other techniques to get buyers.

Find out which agent is the issue. If the agent is blamed on the market, issues with the property or unrealistic expectations, they may be correct. But, perhaps, using an alternative agent will determine if the issues were beyond their control or if they’re filled with excuses.

Pros and cons of switching estate agents

Before you instruct another person to sell your home take into consideration the potential dangers and pitfalls of switching estate agents. The terms of the contract that you’ve made with your agent will have an impact on how simple or difficult it will be to switch to a different one and the first thing to check is the small terms.

There is a chance that you could be bound by an exclusive period. Find out if the contract contains an exclusivity time frame. If so, they could be entitled to commissions on any sale within a specific timeframe regardless of whether you discover another method to sell your home. The longer this period of exclusivity is and the longer you need to wait until you are able to sell the property to an agent who is not yours.

It is possible to be charged a double commission. A different type of contract is that it entitles agents to an introducer fee, in which they can receive a commission if an individual they introduced to purchase the property. If you change agents and a client who was introduced by the agent you chose is able to buy from the other agent, both agents could assert a claim to an amount. To prevent this from happening, make sure that you’ve got a list of those whom the agent who introduced you to and also that you know that both agents know what the commission split will be before you move forward with the other agent.

The new agent you choose to work with may not be pushing your property as much. If they believe they’re not receiving the full commission due to the fact that your agent’s contract allows them to an amount that is cut off, your home might be on the list of properties that they’re selling and receive the full amount.

A new agent might be worse than the one you had before. However, there’s no guarantee the new estate agent you choose to use is any more effective than the one you had before. If you have two agents working on the property and the property isn’t yet been sold, it’s not the best option in the eyes of buyers. It’s challenging, even though it might appear to them as if they’re doing twice the work , but for a fraction of the cost.

It is possible to lose a potential buyer who was contemplating an offer. If your agent is the one who removed your property from the market, potential buyers who are already in the process may be lost and their focus diverted to other areas, especially in the event of a delay in listing the property by your new realtor.

There are other costs that may apply. The contract may stipulate that you must pay the agent’s expenses like advertising, and to be reimbursed if you choose to decide to end the contract.

It’s likely to be quite a hassle. In addition to having to review the fine print in your contract with your previous agent, and to vet any new agents to make sure you don’t commit the same mistakes over and over again and again, you’ll have undergo the entire procedure of valuing and photos, as well as getting an office set up repeatedly. It can get messy when your previous agent doesn’t cooperate with either you or the new agent after you’ve decided to switch, especially if things don’t get communicated properly or there’s a dispute over who’s legally entitled to the commission.

Do you need to change estate agents?

After you’ve reviewed the terms of your current contract, take a look at your options for the advantages and disadvantages mentioned above and how they pertain to your specific situation. If you’re having serious issues with your agent, and the contract you signed isn’t too restricting, it could be the best solution. However, remember that switching estate brokers is rarely the answer. It’s possible that you can solve the issue with the agent you currently have by having a honest and open dialog with them. This is your first point to contact them.

There are many other options to consider when you’re unable to sell your home that don’t require changing estate agents. You can also sell your house without an estate agent with these alternate methods to sell your property.

Organizations like Which, Homeowners Alliance (HOA) or The Property Ombudsman may be in a position to provide guidance if you want to file a complaint against an agent , or believe that you’re locked into an agreement that is unjust.