Which estate agent dilemma

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I'm wondering if you can advice as hubby and I keeping going back and forth.

House will go on the market soon. Estate agent A came out and said they'd charge £4000, B said 1%. We hope to sell for over £675,000 so clearly A is better price. Both local agents been around for quite some time and the packages are the same.

Someone more local has just set up a new estate agent. It's brand new, maybe trading 3 months. We sort of know the owner (not well but to say hello to - small village) They only have a handful of properties on the market.

I don't know their rates yet. I realise there is a downside to them being new but wonder whether less houses on the books and keen to make a good impression etc would mean they are a good choice? Obviously they are on zoopla rightmove etc and I guess that's where most people look. And hubby is a photographer and will do his own photos anyway.

Thoughts?

We paid £900 at the peak a year ago plus EPC. Honestly aslong as it's on rightmove with decent photos it will sell if it's going to sell. I would only look at the equality of the estate agent 1million+ as they will have buyer on their radar that aren't looking but would be interested if it's put in front of them.

Are the fees including VAT?
What about if you decide to pull out, is there a clause that you’ll have to pay the fees anyway?

Including vat yes. And we only pay on completion. No minimum term.

I think, because we are in the north and rural it seems to be very different to the south. A house, like ours, on the market for £650-700k will be seen as expensive.

I've decided to just go for the agent that I got a good feeling from at the valuation.

Value wise, although we wanted their advice and opinion, we also have a number in mind that we won't go below. Given that we are in any hurry to move - we intend we market for a whole year before even considering a price change.

What sort of buyer are you looking for, and which agent do you think they would be most likely to approach? Which agent do people in your local area most often use?

We recently sold a probate property, and chose an agent with an upmarket vibe to its name rather than the cheap-and-cheerful one up the road.

When we sold our house we went with a brand new agency who were VERY keen to add to their portfolio. We negotiated with them hard and got a rate a third of the price of their competitors, a four page colour brochure and half page ads in the local press. Sold on first viewing! Try the new one and negotiate them way down! Good luck,

You say the new estate agent is in a small village, is it your small village?

someone else has said don’t sign anything for over four weeks. I would agree.

I would ask them to explain everything to you, if you like what you hear, ask them if they are confident enough for a free run with your property for two to three weeks, if it’s not sold you will have to include the big boys.

a friend put a flat on with a new agent in the middle of July, he exchanged on Friday!

The new agency will be talked about by my friend, I’m talking about him, as I’m sure others are too.

i

Negotiate!

I think a fee based on a percentage encourages them to work harder to get you the best price whereas a fixed fee means they lose nothing if you get a lower offer so that is something to consider. A new agent may work harder as they are trying to establish themselves and build their reputation

So if you saw a house that had everything you wanted/was your dream home you wouldn’t view/buy it because on market with a new agent? This is just ridiculous. I imagine that they have made provision for how bad the market is and think they can sustain it perhaps a one man band and got money in savings to ride it out. Perhaps they are playing the long game and thinking if they ride or would will have a well established business as some of the bigger ones with high overheads will have gone? Either way discouraging people to use them with a load of unfounded nonsense won’t help them!!! Even if they did fold the sale would go on through solicitors! I would give the new agent a go on basis less properties at the moment so more time and keen to impress

Wow, where I am agents charge about 4% plus marketing on top. It makes me want to sell up and move.... 🤔🤪

PS find the rates for the new guy and go with them if reasonable. I'm imagining they'll go hard and great to support start ups

We initially went with 2 high street EAs (not both at the same time) who were terrible - no interest in actively marketing our house, didn't answer the phone, fobbed us off. We then went with a fairly new agency who sold our house within 2 weeks. They were proactive and easy to communicate with - we sensed they were trying (successfully) to build their business. If there was to be a next time (there won't because... never again (!)) then I'd go with a newer EA and a short contract.,