ESTATE AGENCY MYTHBUSTERS

Estate Agency hasn’t always had the best image in the public eye to say the least, but most agencies and agents themselves have a great deal to offer both sellers and buyers. Having a competent and trustworthy agent on your side as a seller can ensure you get the very best price for your property without all the hassle, whilst buyers can benefit from feature rich enhanced agency listings and a personal approach to help guide them through their purchase journey.

As agents, we hear all sorts of things about the property industry and agency. Here are a few of our favourites, along with what actually happens….

“Estate agents just put your house on Rightmove and that’s that”

Not true. A competent agent will employ a range of marketing methods and techniques, alongside a portal listing to ensure that your property is marketed effectively far and wide as well as locally. Sure, Rightmove is a great “shop window” and an essential part of the process being so widely used and recognised, but it is not the only tool in the box. People buy houses, not browsers so a rapport with a good agent acting on your behalf or keeping an eye out for a property for you is the best place to start. Ask your agent what differentiates them from the competition and why you should choose them.

“Online valuations give you an instant accurate price appraisal”

Not true I’m afraid. Online valuations are a quick and easy way to get a rough idea on value, but they are based on a very wide set of parameters that take little or no account of your actual property and rather more focus on previous sold prices, neighbouring property sales and market indices. Whilst they are fun tool and a way for agents to engage with an audience, they are not to be relied on. Call in a few trusted agents to give you a more precise valuation based on an actual inspection of what you have to sell.

“Anyone can be an estate agent”

This one is actually pretty much the case! Whilst you do not need qualifications as such to be an estate agent, there is no substitute for proper training, industry regulation and experience. Look for an experienced agent that is qualified, a member of a professional trade body and one that is signed up to an independent redress/ombudsman scheme to ensure you are in safe hands. 

“No sale, no fee means I won’t pay anything if I don’t sell”

In most cases, this does mean exactly what it says on the tin but beware to read the small print. With some agency agreements, you will be responsible for expenses in the event of a non-sale. Whilst this is not a fee, it can be something you have to pay back so carefully read their contract and ask the right questions. Seek plain English and don’t sign anything you are not entirely happy with. Never sign up at the first meeting - if an agent can’t wait to give you space and time to decide or will only offer you a certain fee if you sign now, smell a rat and move on, this practice only serves their purpose not yours.

“All agents sign you up for a minimum marketing period”

Most agents will have a minimum marketing term once you are signed up, which will prevent you going elsewhere, but not all. We have never had a minimum term and we never will. These contractual terms serve to protect the agent, not you as the seller. If you want to retain complete control of your instruction, insist on there being no minimum marketing term. If the agent is confident that they can do what they are telling you, they will have no issue with this.

“Estate agents are expensive, cheaper is better”

As in all walks of life, cheaper is rarely better. Getting the right agent and the right support can mean the difference between selling and not selling and perhaps many tens of thousands of pounds in the selling price. Some properties require specialist attention and experience to get them showcased in the right way and in the right places. Ask a range of estate agents out to seek their advice and consider their fee based on what they have to offer. There are relatively inexpensive options for selling your home if you so wish, but a certain service comes at a certain price, so make sure you know exactly what you are getting and what you can expect from your agent. Also, don’t be afraid to ask for a discount on a quoted fee – you might not always get a result but there is no harm in asking!

“Agencies favour high net worth out-of-town buyers and second home cash buyers”

Not true. A good agent will consider all buyers on behalf of their clients and recommend a buyer based on many variables, not just the price. Cash is not always best and there are many occasions when a motivated local buyer buying a new home will out-perform a cash buyer that already has a home. Sure, sometimes it is the cash buyer that gets the property but certainly not in all cases. Position yourself as an attractive buyer and build a relationship with your local agents to increase your chances of being a successful applicant. Ultimately, it is the seller that finally decides who to sell to, not the agent.

“Coffee and Bread”

The long-held belief that baking some bread and making coffee will increase the chances of you selling your home is most probably not true I’m afraid! Pleasant, homely smells may be a nice touch and make your viewers buy into a certain type of lifestyle to a certain extent, but they are unlikely to be the determining factor. That said, a well presented, tidy and clean house might make all the difference so make sure you go around your home with a “viewers eye”. Remember you live there and will be used to the space, so you need to approach your preparation from a different standpoint. Agents understand that you “live” in a house but take a step back and look at what is lying around, make the beds, clean the house and generally make the space as clean and un-cluttered as possible for viewings. Also, mow the lawn and try and make sure the viewing journey is as simple as possible, from viewer parking up to gaining access and moving around the property and grounds.

“People only rent as they are unable to buy”

Totally untrue. We have a wide range of tenant applications from all sorts of people, a lot of whom choose to rent a house these days. The flexibility of renting a house, along with the lack of maintenance hassle and expenditure can be a big factor for many people looking to move home. Sure, there will always be people that fall through the cracks in the mortgage market for whatever reason and are therefore only left with renting, but increasingly of late we have seen an uptick in young couples taking 12 month tenancies to retain flexibility in where they live, along with retired couples selling their home in order to rent a property that they do not have to maintain whilst releasing valuable capital to enjoy their retirement. In short, there are all sorts of lovely tenants out there, moving for all sorts of reasons.  

“Agents decide which tenants get offered rented houses”

This is not entirely true. The agent will play a part in this, but the final decision always rests with the landlord and owner of the property. Disappointingly, there are far too few houses to go around at the moment combined with a lot of people seeking rented accommodation, so it is not uncommon for there to be 20+ applications for a single house. In order to best place yourself as a would-be tenant, be honest when you fill in your application form and develop a positive relationship with the agencies in the town so they can present your circumstances to the landlord. A healthy credit score, no bad credit and a stable proven income are all pivotal factors a landlord will consider when competition is so fierce in the rental market but also don’t be afraid of promoting yourself as a local family when applying as many landlords would also want to take this into account. 

“Start & Co have been selling and renting houses in Newquay since 1977”

True! Established in Cliff Road in 1977 and still run by the Start family in Cliff Road, we have been selling and renting houses here for the local community in Newquay for 44 Years and continue to strive to offer the very best personal and experienced service, from our family to yours. If you have any property requirements or just need some free advice, give one of our team a call on (01637) 875847.

Estate Agency hasn’t always had the best image in the public eye to say the least, but most agencies and agents themselves have a great deal to offer both sellers and buyers. Having a competent and trustworthy agent on your side as a seller can ensure you get the very best price for your property without all the hassle, whilst buyers can benefit from feature rich enhanced agency listings and a personal approach to help guide them through their purchase journey.

As agents, we hear all sorts of things about the property industry and agency. Here are a few of our favourites, along with what actually happens….

“Estate agents just put your house on Rightmove and that’s that”

Not true. A competent agent will employ a range of marketing methods and techniques, alongside a portal listing to ensure that your property is marketed effectively far and wide as well as locally. Sure, Rightmove is a great “shop window” and an essential part of the process being so widely used and recognised, but it is not the only tool in the box. People buy houses, not browsers so a rapport with a good agent acting on your behalf or keeping an eye out for a property for you is the best place to start. Ask your agent what differentiates them from the competition and why you should choose them.

“Online valuations give you an instant accurate price appraisal”

Not true I’m afraid. Online valuations are a quick and easy way to get a rough idea on value, but they are based on a very wide set of parameters that take little or no account of your actual property and rather more focus on previous sold prices, neighbouring property sales and market indices. Whilst they are fun tool and a way for agents to engage with an audience, they are not to be relied on. Call in a few trusted agents to give you a more precise valuation based on an actual inspection of what you have to sell.

“Anyone can be an estate agent”

This one is actually pretty much the case! Whilst you do not need qualifications as such to be an estate agent, there is no substitute for proper training, industry regulation and experience. Look for an experienced agent that is qualified, a member of a professional trade body and one that is signed up to an independent redress/ombudsman scheme to ensure you are in safe hands. 

“No sale, no fee means I won’t pay anything if I don’t sell”

In most cases, this does mean exactly what it says on the tin but beware to read the small print. With some agency agreements, you will be responsible for expenses in the event of a non-sale. Whilst this is not a fee, it can be something you have to pay back so carefully read their contract and ask the right questions. Seek plain English and don’t sign anything you are not entirely happy with. Never sign up at the first meeting - if an agent can’t wait to give you space and time to decide or will only offer you a certain fee if you sign now, smell a rat and move on, this practice only serves their purpose not yours.

“All agents sign you up for a minimum marketing period”

Most agents will have a minimum marketing term once you are signed up, which will prevent you going elsewhere, but not all. We have never had a minimum term and we never will. These contractual terms serve to protect the agent, not you as the seller. If you want to retain complete control of your instruction, insist on there being no minimum marketing term. If the agent is confident that they can do what they are telling you, they will have no issue with this.

“Estate agents are expensive, cheaper is better”

As in all walks of life, cheaper is rarely better. Getting the right agent and the right support can mean the difference between selling and not selling and perhaps many tens of thousands of pounds in the selling price. Some properties require specialist attention and experience to get them showcased in the right way and in the right places. Ask a range of estate agents out to seek their advice and consider their fee based on what they have to offer. There are relatively inexpensive options for selling your home if you so wish, but a certain service comes at a certain price, so make sure you know exactly what you are getting and what you can expect from your agent. Also, don’t be afraid to ask for a discount on a quoted fee – you might not always get a result but there is no harm in asking!

“Agencies favour high net worth out-of-town buyers and second home cash buyers”

Not true. A good agent will consider all buyers on behalf of their clients and recommend a buyer based on many variables, not just the price. Cash is not always best and there are many occasions when a motivated local buyer buying a new home will out-perform a cash buyer that already has a home. Sure, sometimes it is the cash buyer that gets the property but certainly not in all cases. Position yourself as an attractive buyer and build a relationship with your local agents to increase your chances of being a successful applicant. Ultimately, it is the seller that finally decides who to sell to, not the agent.

“Coffee and Bread”

The long-held belief that baking some bread and making coffee will increase the chances of you selling your home is most probably not true I’m afraid! Pleasant, homely smells may be a nice touch and make your viewers buy into a certain type of lifestyle to a certain extent, but they are unlikely to be the determining factor. That said, a well presented, tidy and clean house might make all the difference so make sure you go around your home with a “viewers eye”. Remember you live there and will be used to the space, so you need to approach your preparation from a different standpoint. Agents understand that you “live” in a house but take a step back and look at what is lying around, make the beds, clean the house and generally make the space as clean and un-cluttered as possible for viewings. Also, mow the lawn and try and make sure the viewing journey is as simple as possible, from viewer parking up to gaining access and moving around the property and grounds.

“People only rent as they are unable to buy”

Totally untrue. We have a wide range of tenant applications from all sorts of people, a lot of whom choose to rent a house these days. The flexibility of renting a house, along with the lack of maintenance hassle and expenditure can be a big factor for many people looking to move home. Sure, there will always be people that fall through the cracks in the mortgage market for whatever reason and are therefore only left with renting, but increasingly of late we have seen an uptick in young couples taking 12 month tenancies to retain flexibility in where they live, along with retired couples selling their home in order to rent a property that they do not have to maintain whilst releasing valuable capital to enjoy their retirement. In short, there are all sorts of lovely tenants out there, moving for all sorts of reasons.  

“Agents decide which tenants get offered rented houses”

This is not entirely true. The agent will play a part in this, but the final decision always rests with the landlord and owner of the property. Disappointingly, there are far too few houses to go around at the moment combined with a lot of people seeking rented accommodation, so it is not uncommon for there to be 20+ applications for a single house. In order to best place yourself as a would-be tenant, be honest when you fill in your application form and develop a positive relationship with the agencies in the town so they can present your circumstances to the landlord. A healthy credit score, no bad credit and a stable proven income are all pivotal factors a landlord will consider when competition is so fierce in the rental market but also don’t be afraid of promoting yourself as a local family when applying as many landlords would also want to take this into account. 

“Start & Co have been selling and renting houses in Newquay since 1977”

True! Established in Cliff Road in 1977 and still run by the Start family in Cliff Road, we have been selling and renting houses here for the local community in Newquay for 44 Years and continue to strive to offer the very best personal and experienced service, from our family to yours. If you have any property requirements or just need some free advice, give one of our team a call on (01637) 875847.