How to Switch Estate Agents and Get The Offer You Need
Selling a property can be a stressful and frustrating experience, especially if your sale isn't going as planned. If you're facing a lack of progress, poor communication, or unfulfilled promises from your current estate agent, one option is to consider switching agents.
While it may seem daunting, changing agents is often simpler than most sellers expect and can significantly improve your chances of securing a committed buyer. Here's how to make a smooth transition to a new agent and get your sale back on track.
1. Assess the Situation
Before deciding to switch, take a step back and assess the reasons why your property isn’t selling. It could be down to several factors:
- Price: Is your property competitively priced for the market?
- Marketing: Are the videos, photos, description, and overall presentation effective?
- Agent Performance: Is your agent proactive, responsive, and providing you with regular updates and feedback?
If you're unsatisfied with your agent’s efforts, and their solutions don't seem convincing, then it’s worth considering a change.
2. Check Your Contract
Before jumping ship, review the contract you signed with your current agent. Most estate agent agreements include a tie-in period, which is a set amount of time you're locked into working with them exclusively. Leaving before this period ends could result in penalties or fees. Common contract types include:
• Sole Agency Agreement: You’ll only pay the agent if they sell your property, but be careful, as you may still owe them a fee if another agent secures the sale during the tie-in period.
• Multiple Agency Agreement: You can list your property with multiple agents, but fees tend to be higher.
Ensure you fully understand the notice period you need to give and whether you’re at risk of paying double fees. For example, if a buyer introduced by your first agent purchases your property, you may still owe them a commission, even if you’ve already switched agents.
3. Communicate with Your Current Agent
Before terminating the agreement, have a candid conversation with your current agent. Let them know you're unhappy with their service and explain the specific issues you're facing, whether it's poor communication, lack of marketing effort, or too few viewings.
In some cases, the agent may suggest changes, such as re-photographing the property or re-launching it online. However, if their response doesn’t convince you, moving on might be the best course of action.
4. Give Proper Notice
If you decide to switch agents, follow the proper process for giving notice. Send a formal letter or email outlining your decision to terminate the contract, and ensure you get written acknowledgment from your agent. Stick to the notice period specified in your contract to avoid any legal or financial complications.
5. Choose Your New Agent Wisely
Now that you’ve decided to switch, it’s crucial to find an agent who can meet your expectations.
Share your situation with potential agents and ask for their honest feedback. Keep in mind that you’ve already had one agent who overpromised and underdelivered.
If a new agent provides some hard truths—like the need for redecoration, repairs, or adjusting the price—appreciate their honesty.
In the end, a successful partnership with an agent is built on trust. You need someone who is upfront with you and committed to putting in the hard work to sell your home.
Here’s how to choose the right one:
• Ask for Recommendations: Seek advice from friends, family, or neighbours who have sold similar properties in your area.
• Interview Agents: Meet with a few potential agents and ask the right questions:
o Why do you think our property hasn’t sold?
o What will you do differently from our previous agent?
o What are your marketing strategies?
o How often will you provide updates?
It’s important to choose an agent who is transparent, responsive, and has a clear strategy for re-engaging potential buyers.
6. Freshen Up Your Marketing
One of the main benefits of switching agents is the opportunity to breathe new life into your property’s marketing. The new agent can offer a fresh perspective on how to present your home. Consider:
• Staging the Property: Make sure your home is presented in the best possible light. Declutter, add fresh flowers, or stage certain rooms to appeal to buyers’ lifestyles.
• New Videography & Photography: High-quality, professional video and photos can make a significant difference. Your new agent should suggest re-photographing your property to give it a fresh look on property portals.
• Re-launching Online: Once the property is removed from online portals, your new agent can re-list it, attracting new buyers and gaining fresh exposure.
7. Avoid Double Fees
One key concern when switching agents is the risk of paying two commissions. To avoid this, ensure that your new agent knows about any buyers your previous agent introduced to the property. Keep a record of these names and work with your new agent to prevent any disputes over commission if one of these buyers later purchases your home.
8. Set Clear Expectations
Once you’ve chosen a new agent, agree on clear terms regarding communication, marketing, and timelines. Regular updates on viewings and feedback will help you stay informed and feel in control of the process.
Conclusion
Switching estate agents might seem like a big step, but it can often provide the fresh approach you need to sell your property.
By assessing your current situation, following the correct procedures, and choosing a new agent with the right expertise and enthusiasm, you can significantly improve your chances of securing a buyer.
As always, if you have any questions or if you’d like some general advice about the Romford property market, get in touch using the details below.
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07969 638349
duncan.kaye@keysandlee.co.uk
