Category: Property Management

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8 Ways to Work with your Estate Agent for the Best Results

So, you’ve picked out your estate agent to help sell your home, but what’s the next step? While for the most part the baton is now with the agent, who’s responsible for keeping the progress of the sale on track, there are still some things you can do to achieve the very best desired outcome when selling your house.

Try looking at it this way: you and your estate agent are now a team. You’re on the same side and are both equally motivated to secure the right sale. In light of that, it’s best to make sure you’re aligned on exactly what you want to achieve over the next weeks or months.

Still not sure where you stand or what your next steps should be? Not to worry, we understand! That’s why we’ve collated 8 useful pointers which take you from that initial estate agent meeting through to obtaining the right offer.

  1. Be clear on your timeline

Before you do anything else, make sure you and your agent are aligned on your expectations from the outset. Ask questions and iron out any queries you have, as well as giving an indication of how quickly you’re looking to move – whether you’re aiming for a specific timeframe or you’re happy to hold on a little longer for a more generous buyer. This will really help your agent organise and prioritise your requirements.

  1. Stay updated

Working with your estate agent requires communication on both parts, so keeping in close contact is paramount. Let your agent know how regularly you’d like to be updated on the sale’s progress along the way. For consistent, general updates, we suggest every seven to ten days, but we also recommend aiming for a couple of days after every viewing to gather the potential buyer’s feedback.

  1. Act on feedback

Potential buyers tend to be honest and forthcoming with their opinions on a house, especially after a viewing. So, while there will be positive feedback, there may also be some criticism. If this happens, try not to be disheartened and instead let your estate agent know that you’re open to all kinds of feedback so you can use it to your advantage. You may notice common themes in the feedback you receive, which will help you decipher what you can do to improve your home for the next viewing. For instance, the buyer may suggest that the décor is a little tired or that certain areas need some TLC. Be prepared to dedicate some time to these updates, potentially with a fresh lick of paint or a weekend of DIY fixing – you can rest assured that it will make all the difference on your next viewing.

  1. Decide on a marketing strategy

Give your estate agent a steer when it comes to where you want your home to be advertised to potential buyers. You’ll likely want a ‘for sale’ sign up, but aside from that, decide on whether you want your house advertised in the local press and stipulate how many times you want it to be shown if so. Give an indication of approximately how long you’d like your house to appear in the estate agent’s window and provide some direction as to which online portals you want to see your home shown on.

  1. Approve the marketing

Your agent will likely have a list of marketing details for you to approve, all of which should highlight the qualities your home has to offer. They will be used to market your house and will likely be the first place potential buyers will read about your home. So, while the estate agent will have thoroughly checked through this information, you also want to make sure nothing has been missed in the description.

  1. Showcase your home’s best angles

Alongside the marketing description, the images of your house should be a top priority, too. To help the photographer capture the best shots possible, try to give your home a thorough tidy before they arrive, move the likes of bins and parked vehicles out of shot for the day, and if you can, switch on accent and mood lighting to create an ambient atmosphere.

Once the house is in shape, add a few stylish touches with fresh flower bouquets in vases, and complete the dining table with your favourite place settings – this will really enhance the lifestyle photography and give viewers a chance to envisage themselves in the space. Try to maintain this look for viewings so potential buyers can fall in love with your home on their visit, too.

  1. Try to be flexible with house viewings

Of course, the more viewings your estate agent can book in, the more offers you’re likely to get. It’s a well-known fact that weekends are when most people are free to view a property, and it gives potential buyers enough time to mull over what they’ve seen and make an offer on Monday morning. Viewers are also more likely to be looking at several houses over a weekend with the aim of making an instant comparison, so it’s best that your home is scheduled in at this time too rather than on a weekday, where it may not remain fresh in their mind.

  1. Carefully consider your offers

Lastly, remember that most of the offers you get will be negotiable, even on occasions when they might seem a little low. Usually, most buyers will get in touch again with a better counteroffer if the first is politely declined, so try not to be too quick to dismiss an offer from a potentially committed buyer.

Do you want to know more about how you and your estate agent can work together? Or do you have general questions about marketing your home? Either way, feel free to reach out to our team, who are always more than happy to help. Simply contact us by phone on 01772 252136 or send us an email at info@stonehousehomes.co.uk and we’ll get straight back to you.

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Switching letting agent – All you need to get it right

As a landlord, when you use a letting agent to find a tenant – and particularly if you have a ‘fully managed’ service, where they look after both the tenant and the property on your behalf during the tenancy – there’s a lot of trust involved.

You’re relying on your letting agent to:

  • Find a ‘good’ tenant who can and will pay the rent in full each month, and who will treat your property well
  • Ensure both the tenancy and the property comply with all relevant legislation
  • Communicate well with you about the let and keep you updated on any legal changes that might affect you
  • Manage inspections, maintenance and repairs, and fix any problems quickly and cost-effectively on your behalf
  • Handle any change of tenancy so that void periods are minimised and the property continues to be let at a fair market rent
  • Advise you when rent increases might be possible and if/when upgrades or changes might be worthwhile (for ideas, check out our blog, ‘How to present your rental property to attract the perfect tenant’) [April 2021]

Your rental property may be one of your biggest financial assets, and it’s important that it’s let and managed well. Your agent should be working to ensure constant and consistent rental income, so that your costs are covered and, ideally, you’re left with some profit on top. And they should also be making sure that the property itself is kept in good condition so that your tenant has a safe and comfortable home, and the capital value is protected.

If any of that isn’t happening, and your agent is falling short of your expectations, you might be thinking about switching. But what’s the best way to do that?

Here’s our handy guide to making the transition from one letting agent to another as smooth as possible.

  1. Check the terms of your agreement with the agent

If you’re only using the agent to find a tenant, giving them notice should be fairly straightforward. But if you have a fully managed service, there will often be an initial tie-in period, and you might not be able to switch immediately unless the agent has breached their obligations in some way – however, see point 3! The agreement will also state how it can be terminated by either you or your agent and the notice you need to give.

One important thing to note is that it’s common to have a clause that states you’re obliged to keep paying fees to the agent for as long as the tenant they introduced is living in your property. That’s something you may need to discuss with your new agent, to make sure switching doesn’t mean you end up paying two sets of management fees!

  1. Find a new agent – before you give notice!

Unlike switching estate agents, where it might not matter too much if it takes a few weeks to find a new agent to sell your home, if you have a tenant in your property, you need to make sure they remain properly managed.

There are a lot of systems and processes involved in successfully managing a tenancy, as well as a good understanding of lettings legalities. So, if you can make sure you have a new agent ready to take over, they should be able to manage the handover so that nothing gets missed.

Some key checks to make on any new agent: 

  • Do they have Client Money Protection insurance? (legally required)
  • Do they have membership of a redress scheme? (legally required)
  • Do they belong to a professional industry body that has a Code of Conduct, e.g. Propertymark or Safeagent?
  • How do they stay up to date with legal changes?
  • Are they successfully letting and managing properties like yours?
  • Do they have an attractive website and good-quality marketing?
  • What’s their average time to let a property and average annual void period?
  • If possible, speak to one or two of their current landlords.

These things should give you a good idea of how professional they are and how well they would manage your property and tenant. Then the final point on your checklist is: do you like them? These are the people who you and your tenants will be dealing with for the foreseeable future – possibly years – so it’s important that you like their approach.

Once you’ve found the agent you’d like to move to, it’s time to give your current one notice.

  1. Explain to your agent why you want to leave them

The best resolutions tend to come from having an open and amicable discussion, so make sure you’re clear about your reasons for wanting to switch – it’s often helpful to make a list ahead of having a conversation – and explain them to your current agent. If they agree that things haven’t worked out, they may be prepared to negotiate over any contractual tie-in you might have. For example, if their tenant is still in the property, you could try to reach an agreement to pay them a one-off ‘introduction’ fee, rather than having to keep paying them every month until the tenant leaves.

Importantly, check they’re happy to pass on the tenancy file – including things like tenant referencing information, deposit protection details and gas check certificates – to your new agent, and that they will contact the tenant to ensure a smooth handover with rent payments etc.

Whatever you agree with your agent, make sure it’s confirmed in writing.

Remember, it’s a legal requirement for every letting agent to be a member of either The Property Ombudsman or the Property Redress Scheme, which offer independent third-party dispute resolution. So if you’ve already spoken to your agent about why you want to leave – and put it in writing – and they don’t resolve things to your satisfaction, you can then take the matter to whichever redress scheme they belong to.

And then the final step is to engage your new agent. Be honest about why you’re making the move to them, and be clear on your expectations of their service. In our experience, a successful relationship between a landlord and their agent depends on good communication, so start as you mean to go on!

If you’re thinking of switching from your current agent, we’d love to hear from you. We can discuss the levels of service we offer and help you find the right letting and management solution that fits with your aims as a landlord. Call us today on 01772 252136 or email info@stonehousehomes.co.uk , and we’ll be happy to arrange a discreet and confidential chat.