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Estate agents market and sell property. They also deal with paperwork, monitor the chain (of buyers selling their old home and sellers buying their new home), liaise with your solicitor and negotiate with buyers and sellers. Estate agents do not deal with surveys – you will need a surveyor for that, but they might have partnerships in place to recommend a surveyor to you.Estate agents and feesIf you are buying a property there should be no estate agent fees involved. If you are selling, you will usually pay between 0.75% and 3.5% of the selling price to your estate agent. Again, shop around, and negotiate once you’ve found an estate agent that you would like to work with. Check that the fee includes VAT or you’ll need to add another 20% to the price of the fee.Buying from an estate agentYou can register with several estate agents. To choose which will be best, look at the type of properties they offer, ask their fees (if applicable) and speak to friends and family for their recommendations.Make a note of conversations that you have, including who you spoke to, the date and time. This keeps you in control and is a useful reminder of what’s been discussed and agreed. Do this between yourself and the agent and you can be sure you will be able to better record the manner as to how the deal is going through for you.Once you’ve decided to sell using an estate agent, choose one by asking questions about their track record in selling properties like yours. Find out how they intend to market your property online, as that’s where many people start their search. And remember, there will be a fee involved.
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