What do estate agents do? - Yopa Homeowners Hub

The short (and obvious!) answer to ‘what do estate agents do?’ is that they sell your house and/or find you a new one to buy.

Of course, that’s just a generic description of their role – in reality, there’s a lot more to it. An estate agent wears many hats, from advertiser to negotiator. These are some of the services you can expect to receive for your hard-earned money.

Valuing (and boosting) homes

A key skill of any estate agent is their ability to value homes. Too low and the seller won’t make enough money; too high, and buyers will be put off. That’s why estate agents spend years honing their valuation experience, and why an online valuation (although a great place to start) won’t be enough to start a sale.

Your local estate agent will combine market research with recently sold house prices to get an idea of your property’s ideal asking price. They will then visit your home in person to get a real sense of what makes your home special and who it might appeal to.

On top of that, they’ll think of ways to make your home more enticing to house hunters, and could even add value to your home. A lick of paint can go a long way, and your agent knows when a small change will make a big difference.

Marketing

Marketing is one of the most crucial roles that an estate agent can provide to a seller, so before you instruct an agent be sure to enquire as to where they’ll advertise your property. Some high street agencies are part of a larger chain, whilst others are independent or part of a franchise, and as a consequence marketing budgets can vary quite substantially.

Every good agent, whether local or national, will advertise your home on at least one major property portal, most commonly Rightmove or Zoopla. Your agent may also offer some extras, such as ‘premium listings’, which can make your home more visible on these sites. Tech-savvy agents may also offer targeted promotion on social media. Don’t be afraid to ask!

Getting your property sold

Your estate agent advises on pricing and marketing, handles enquiries and negotiations, and helps progress the agreed sale. You make the decisions and supply the information needed, and your conveyancer handles the legal work.

Some estate agents offer a lot of flexibility when it comes to your property sale. Local Yopa agents, for example, can host unlimited viewings for you if hosted viewings are part of your bundle. But you can also choose to host viewings yourself, if that’s what you would prefer. If you do choose to host viewings yourself, any good agent will give you guidance and tips on giving a tour to prospective buyers. Estate agents also collect feedback, which can help make future viewings even better.

A good estate agent will also be brilliant at matching people to property. They’ll know buyers in the area and what they’re looking for, and if your home matches their needs, they’ll make that all-important connection – often before the buyer has stumbled across your home themselves.

When your home is on the market, estate agents will also:

Put up a ‘for sale’ board if you wish.
Act as a go-between for negotiations between buyers and sellers.
Help keep paperwork moving between you, the buyer and both conveyancers.
If there is a chain involved, they will monitor all the links.
They will liaise with both sets of solicitors.
They will deal with any problems that might occur throughout the sales process.

Buying through an agent

If you’re a buyer, the agent for each property is there to show the property to you. They will accompany you on your viewing (unless the seller is conducting viewings by themselves) and should have a good knowledge of the local area, schools, shops, and public transport. Once you have found your dream home, you will make your offer through them and they will contact the owner on your behalf. You can tell them your reasons for making the offer and they will explain this to the seller in a professional and honest manner. It should be noted that estate agencies do not usually get involved with surveyors, although in many cases they can recommend one. Agents also:

Advise you on progress and how long your purchase will take. This can vary depending on buyer/seller circumstances, but the agent will keep you updated.
Answer any questions you have about the property, contacting the seller if necessary.
Recommend local tradespeople if you need to carry out works after completion.

Sometimes an estate agent may get lucky, if they already have someone on their books who falls in love with a new-to-the-market property and a quick sale is achieved. However, more often than not, it takes many hours and a lot of advertising, general marketing, negotiating and viewings to find a buyer – and that’s why their skills are so vital.

Happy buying and selling and good luck with a successful, stress-free move!