Normally, you put your property on the market but the estate agent is the one who actually sells it to buyers. It is a critical decision to choose the right agent and protect you from any future trouble. The questions below may help you.
1. Are there any other costs?
Before using a brokerage service, make sure that you know all costs of the selling process. Remember to ask your real estate agent as detailed as possible about any other charges that you have to pay for. And it is best when all these marketing costs should be free.
2. How will you market my home?
Nowadays, there are more and more property portals for home listings. These are where high street agents should earn their commission and reel off lots of experience and local knowledge. As a home seller, you also know where your agent lists your home. Of course, with prestigious portals, the opportunity for your home to be connected with the right buyer is always higher.
3. What happens if we disagree on something?
Make sure there is mutual respect from the beginning of the sale because you are paying brokerage fee. There are too many home sellers being bullied by their agents to accept a sale price. Even though you aren’t comfortable with the deal, your agent may want the house sold to get commission. In case that some things went wrong, you may need to resolve a dispute with your estate agent. Therefore, try to reach an agreement on this before you hire an agent to avoid troubles that can occur in selling process.
4. Will I have any future liability if I take my home off the market and sell with another agent?
Imagine you were with an agent on a sole agency contract and you were unsatisfied with their service, then you found another agent to help you sell your home. Some months later, your home was sold and you pay the latter agent the commission you owe them for selling your home. But the first agent also asked for commission because they argue the purchaser was originally introduced by them. In fact, this case could happen months or even years after you left the first brokerage contract.
Therefore, always read your contract carefully and understand what continuing liability you might be signing up to beyond contract term. Never accept any suggestion that you should pay fees for two finders.
(Source: Home Owners Alliance)