Everything you need to know before signing a contract

So, you have decided you are going to sell a property - well done, that is the first decision made! Next decision is to have some agents round to give you a valuation. It is a good idea to have at least 3 agents visit you - a good suggestion is to have a corporate agent, a large independent and then a smaller independent agent - that way, you are getting a really broad spectrum of agencies so therefore, getting a really good range of opinions. Now, you have to make the decision which agent (or agents), you are going to instruct to market your property. Don't always go for the top price - the agent could be over valuing just to get your instruction! Do your own research about your local market and be confident with the value you are going to market at. Also, don't just base your decision on the fee the agent is going to charge you. An agent may appear to be more expensive, but if they get you a better price in the timescale you want, then you have actually been charged less! Before you sign any agency agreement, be sure to check if that agent is going to be charging you upfront fees. The biggest thing to check, is how long your agent of choice ties you in to a sole agency. To explain, a sole agency means you are "tied in" to that agent for a specific length of time. During that time, you cannot withdraw your property from them and sell with another agent. It is well known, that some agents are now tying people in for over 20 weeks. Remember, this means that for 5 months, you are going to have to work with that agent, so make sure you like them and are confident that they speak the same language as you. Ensure they understand your goals and the timescale you are wanting to work to. Don't forget, that if you want to work with an agent quoting such long agency terms, you can negotiate with them - if you don't ask, you don't get, and you will just get their standard terms - look out for the small print and also check their notice period. A good thing to do, is to prepare a list of questions before you invite your agents out for marketing appraisals, and make notes of the answers. another things to remember is that you do have a cooling off period if you sign the agreement in your own home, so if you feel you have chosen the wrong agent, use that timescale wisely. Good luck with choosing the right agent that fits your needs. For more information, please do call us on 01945 588111

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