How to choose the Right Estate Agent and get the maximum sale price for your property
Learn how to Choose the Right Estate Agent and Get the Best Price for Your Home. Selling your home is a significant decision, and choosing the right estate agent can make all the difference.
In a current market with property listings at their lowest since 2009, estate agents are competing fervently for your business. However, it’s crucial to exercise caution, as not all estate agents possess the same qualities, and making the wrong choice could result in significant costs down the line.
Selecting the right estate agent holds immense importance especially in Dublin. Making a hasty decision or choosing an agent solely based on low fees offered might seem appealing at first, but it could lead to unrealistic valuations, lacklustre marketing efforts, and ultimately, a compromised sale price for your property.
Here’s how to pick the best estate agent and ensure you get the maximum sale price for your property.
1. Shop Around
Before committing to an estate agent, it’s essential to evaluate your options. Invite at least three agents to view and value your property. Do your homework by looking at other properties for sale in your area and understanding current market trends. This knowledge will empower you to assess the agents’ valuations more effectively.
2. Assess Responsiveness
When you contact prospective agents, pay attention to their responsiveness. Did they return your calls promptly and treat you respectfully? Responsiveness is crucial, especially if your sale is time-sensitive due to legal or other commitments. Niamh Moran, partner at Carmody Moran Solicitors, highlights the significance of an agile and responsive agent in ensuring a smooth process.
3. Create Healthy Competition
Having multiple agents view your property can create healthy competition among them. Schedule all three agents to visit on the same day, letting them know they have competitors. This competition may motivate them to provide a better service and potentially reduce their fees.
4. Beware of Inflated Valuations
Some agents may overestimate your property’s value to win your business. Breffnie O’Kelly, a registered estate agent, warns that such practices are not uncommon. It’s essential to ask for evidence of their valuation and whether they can provide comparable properties to support their claims.
5. Prioritise Efficiency in the Bidding Process
A seamless and efficient bidding process is crucial. Choosing an estate agent who uses an online-bidding platform can facilitate this. Delayed bidding processes can lead to bidding fatigue among potential buyers and may deter them from making competitive offers.
6. Evaluate Marketing Strategies
Your property’s visibility to potential buyers is essential. Ask prospective agents about their marketing strategies, especially their presence on social media platforms like Instagram, TikTok, and Twitter. Different platforms may be more effective for specific types of properties, so understanding their strategy is vital.
7. Don’t Always Choose the Cheapest Agent
While fees are an essential consideration, don’t make your decision solely based on the cheapest agent. It’s more prudent to focus on the value they offer. A slightly higher fee that results in a significantly higher sale price can be a wise investment.
8. Negotiate Fees
Sellers often have room to negotiate fees. Be direct and discuss your expectations with the agent. It’s often more effective to negotiate specific terms rather than simply asking for their “best price.”
9. Insist on a Feedback Loop
Communication is key. Ensure that your agent will provide regular feedback on potential buyers’ comments and responses. Feedback helps you tailor your property to meet buyer expectations and can be invaluable in adjusting your approach.
10. Demand an Engaging Listing
Your property listing should be engaging, informative, and accurate. A lazy, uninspired listing can deter potential buyers. Ensure that your agent prioritises high-quality photographs, detailed descriptions, and includes specifics about the property’s key features.
11. Set a Clear Schedule
Ask your agent about their plans for open viewings in the initial weeks of marketing. The early stages of a marketing campaign are crucial. Maintaining momentum and ensuring a clear schedule for key milestones, such as deposit payments and valuations, is vital to avoid delays and buyer withdrawals.
12. Consider the Details
When selecting an estate agent, it’s crucial to pay attention to the details. Make sure your agent can provide you with a floor plan, square footage, and high-quality images. The order in which they present these details is also essential. A professional and strategic listing will emphasise the most attractive features of your property, giving potential buyers a clear and engaging view.
13. Follow Through on Momentum
Maintaining momentum in the selling process is key to success. The first few weeks are critical, and good estate agents understand this. According to Owen Reilly, managing director at Owen Reilly estate agents, this initial period is when the best results often occur. Clear schedules and open viewings help create competitive interest in your property.
14. Timeline Awareness
If your property sale involves complex factors, such as a probate sale, your agent should understand the process and tailor their timeline accordingly. Niamh Moran, partner at Carmody Moran Solicitors, emphasises the importance of avoiding delays. A well-planned timeline ensures that the sale proceeds smoothly, reducing the risk of the buyer withdrawing.
15. Leverage Negotiation
Estate agent fees can vary, typically ranging from one to 1.5 percent of the sale price. These fees can be negotiable, especially if you engage your agent directly. Instead of merely asking for their “best price,” consider offering specific terms. Agents may be more open to negotiation when they see a clear benefit.
16. Diversify Marketing
The broader the exposure your property receives, the better the chances of attracting potential buyers. Estate agents should have a proactive marketing strategy that extends beyond traditional channels like Myhome.ie and Daft.ie. Social media platforms such as Instagram, TikTok, and Twitter can be effective for reaching diverse audiences, depending on the type and location of your property.
17. Always Follow Your Instincts
Remember that, in the end, you’ll be working closely with your estate agent during the selling process. Choose someone you can trust and feel comfortable with. Beyond their technical skills and marketing strategies, consider your personal rapport and whether you believe they genuinely have your best interests at heart.
In conclusion, choosing the right estate agent is a critical decision that can significantly impact your property sale. The process involves careful evaluation, effective communication, and negotiation. Prioritising factors such as responsiveness, marketing strategies, and overall value over cost is essential.
In a competitive real estate market, it’s crucial to maintain momentum, adhere to timelines, and build a positive working relationship with your chosen estate agent.
The insights provided in this blog post are derived from an article by Joanne Hunt, a contributor to The Irish Times, with a focus on the expertise of our very own Niamh Moran, partner at Carmody Moran Solicitors.
To maximise the sale price and ensure a smooth selling process, take your time to evaluate multiple agents, emphasising their responsiveness and marketing approaches. By following these steps, you’ll be better equipped to select the right estate agent and achieve a successful home sale. Please note that this blog post consolidates the insights from the aforementioned article and the contributions of Niamh Moran, providing a comprehensive guide to choosing the ideal estate agent for your property sale.
Your Expert Guide to Buying a House and Property in Dublin
Buying a house is a viable solution to the challenges faced by many single individuals in the property market. However, it’s essential to fully grasp the financial and legal implications. If you’d like to explore these topics further or gain more insights read and learn from the Irish Times article by Joanne Hunt. Her comprehensive coverage sheds light on the various aspects and tips on property acquisition.
We take immense pride in our partner, Niamh Moran, at Carmody Moran Solicitors, whose invaluable insights have greatly enriched this blog. Niamh’s extensive legal expertise and experience have played a pivotal role in providing you with reliable information on property acquisition, conveyancing, and many related legal expertise.
You can find the article on the Irish Times website, which serves as an excellent companion piece to this blog, offering a broader perspective on property ownership in Ireland.
Seeking independent legal advice and crafting clear agreements on ownership and responsibilities are critical steps for a successful and harmonious co-ownership experience. Partnering with a legal expert, such as Niamh Moran from Carmody Moran Solicitors, can provide invaluable guidance.
When buying a house or property in Dublin
Property ownership can take different forms, and the legal and financial intricacies can be overwhelming. Whether you’re a first-time buyer, a couple purchasing together, or co-owning with friends, seeking guidance from property conveyancing solicitors can help you navigate these complexities and safeguard your interests.
Don’t embark on your property ownership journey without a clear understanding of the legal landscape that surrounds it. By making informed decisions and seeking expert conveyancing advice, you can turn your property ownership dream into a secure and fulfilling reality.
Want to learn more about Conveyancing & Property Ownership in Blanchardstown, Tyrellstown or anywhere in Dublin?
For assistance now concerning buying a house or property in Dublin, Ireland, please do get in touch with Carmody Moran Solicitors by email [email protected] or telephone 018272888 for assistance from our expert legal team.
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Niamh Moran is a partner at Carmody Moran Solicitors in Dublin. Niamh’s litigation experience includes injury claims law (both Plaintiff and Defendant) and is an Advisory Board Member of the State Claims Agency.