The overall shortage of housing stock in relation to demand suggests that finding a buyer should not be too difficult irrespective of which agent you choose to sell your property. So it’s tempting to become less discerning over your choice of agent and simply choose the cheapest!
However, this approach usually turns out to be a considerable false economy, as the difference between a good agent and a mediocre (or internet-only) one, can be highly significant.
First, the difference between the cheapest and the most expensive agent is probably only about 1% of the sale price. However, the ability of a good agent to negotiate the highest price the market will pay (which is usually between 5% and 10% more than the average buyer would pay) is clearly worth far more than this.
Cheap agents rely on turnover of stock, rather than the actual amount of fee charged to make their money. With a shortage of stock, they feel the pinch more than the higher quality agents and are therefore more interested in arranging the sale at any price, rather than negotiating the best terms for their client.
However, the better agents have a reputation to protect, and they are passionate in their quest to secure the asking price wherever possible. Indeed, in we often secure figures in excess of the asking price for our clients.
It’s your equity at stake here. So when choosing the right agent to sell your home, what is more important to you – low fees, or the most money in your pocket and the security of a well-managed sale?