Cheap agents will cost you money
Everybody loves a bargain but there is a growing realisation that a low price doesn’t necessarily equate to value for money. In the current economic climate, you can see why a low price is attractive but it is value for money that should be the more important factor for people. This is definitely the case for people selling their home, a process which can carry a lot of fees and expenses.
Given the costs of selling a home, you wouldn’t blame someone for looking at the cost of two agents and deciding on the lower fee being charged by an estate agent. If both agents offered the same level of service, choosing the cheaper option would be the smart decision but this isn’t the always the case. Even if you could guarantee that the cheaper option would provide you with the service you need, it would be a justifiable decision but many homeowners are finding out that low fee agents do not provide them with the service that provides them what they are looking for.
The emergence of online agents and the ability to automate certain aspects of the home selling process has helped lower costs and if you know what you are doing or you can take responsibility for certain aspects of selling your home, it is a chance to save money. Most people will find that they need to rely on an traditional agent to sell their home though, and this is where the work of a skilled, experienced and professional estate agent will make all the difference.
Low fee agents can cost you money
One issue that many property sellers have found is that cheap agents working for a lower fee are often in a rush to sell a property. Selling a home quickly is of benefit to them sometimes but not when the house is sold quickly because it has been discounted in price. A low fee estate agent needs a fast turnover over property to allow them to make a required level of money in a certain period of time.
As an example, say an agent needs to make £1,000 a week to cover their costs and make a living. An agent that charges £500 for selling a home only needs to sell two a week to earn stay afloat, so this provides them with time to sell your home properly. An agent that charges £100 for selling a home has to sell ten properties a week to make a living, and this means they won’t have the time to devote to you and what is likely to be your biggest asset. An agent working in this manner is likely to cut corners and provide you with fewer services. They are also likely to make concessions in the selling of your home, which may cost the seller money in the long run.
Saving £300 or £400 up front by choosing a lower fee agent is not a saving if the actions of that agent cost the seller thousands in the selling price of their home. This is why there is a need to review your choice of estate agent and make sure that they offer you the services that you require. There is nothing wrong with choosing a low fee or affordable option, but you need to make sure that this option also provides you with value for money and won’t cost you money in the long run.
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