Just over 4 months is the average time it takes to sell a house from start to finish. And it takes an average of 7 weeks to even get an offer, according to the advisory.
Selling a house can be an easy process, or it can be a hard process and sometimes that is down to the estate agents you use.
Some can be difficult to work with, some have very high fees, and some just don’t work for you the way you’d want. There are typically three options to choose from.
Working with just one estate agent can be a great thing. That agent will work just for you, and they know they will receive the commission on the sale, so they’ll be working hard to sell the house.
If there are lots of buyers looking for a house in your area and you know the house will be an easy sell, then going with just one agent can be the best option.
If there are lots of homes on the market with little interest however, then this might not be the way forward for you.
Movewise estimate that high street agents only sell around 50% of the properties on their books.
Joint agents are two agents who have an agreement between two agents to sell the house.
They will work out who gets the commission or whether they share it and both work to try and sell your house.
This can be useful if you’re selling a niche house through a niche estate agent (e.g., someone who specialises in luxury houses – if you’re lucky to own one e.g. Sotherby’s ) but also using a local one for those looking at the area.
Providing your contract allows, you can have as many agents as you want.
This theoretically means the agents should be working harder to sell your house (so they get the commission of course) but this does mean because you are kind of pitting other agents against one another, fees will be higher.
By having more than one agent you reach more buyers. One estate agent could use a particular way to market your house, and three agents could all use three separate ways, reaching three times as many people.
Although, some do say that it raises concern for a buyer if they can see your house listed with multiple agents.
When you’re using multiple agents, be careful they don’t try to get you to accept a lower offer rather than waiting for a higher, and potentially more appropriate offer, just to win the race and get your commission.
The advantages of using more than one agent
- Reach more buyers.
- Estate agents will work harder to make sure they’re the one who gets the commission.
- More potential buyers means higher offers.
- At least one of them will market better than the others.
The disadvantages of using more than one agent
- Can make it look like your house isn’t popular giving off a desperate vibe so to speak.
- Can make it look like you’ll take a lower offer.
- An agent may try and talk you into taking a lower offer to sell the house.
The decision is yours on how many estate agents you should use to sell your house.
All three methods are effective, but some are more effective for different situations and markets. Be sure to do your research on the current market to make the right decision for you.
Sell a property (all conditions and locations accepted) in between 7 to 28 days for full market value!