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Here’s what Black Friday taught us about cheap upfront estate agent fees

30November Author: Dave Dyer . Date Posted: 30th November, 2016

IF YOU’RE anything like us, you’re probably sick of hearing about Black Friday. And while we love a bargain, it’s fair to say that in the world of deals and discounts, all may not be as it seems.

For a start, if your sole motivation in buying anything from a TV to a fridge is the greatest number of pounds you can shave off the asking price, then you might not end up with the appliance to best suit your needs. These are the offers that promise the world, but on closer inspection, fail to live up to expectations.

To carry the analogy further, you may even have to shell out for another TV or fridge, just because the so-called bargain that caught your eye in the first place wasn’t quite hitting the mark.

As the old saying goes, you get what you pay for.

Or, to put it another way, buy cheap, buy twice.

The same applies to estate agents’ fees. While cheap upfront deals might seem initially attractive, it is essential that anyone selling their home enters a contract only when they have a full understanding of what, exactly, is on offer.

NEGOTIATING THE BEST OUTCOME

If you’re selling your home, you want to know that your estate agent is working in your interests to achieve the best possible price. When a flat upfront fee is involved, you’ve still had to pay, no matter how much the house eventually sells for, or indeed when it sells.

There is a danger that there is little incentive to create the most favourable outcome to you. After all, they already have your money and an agent who has been paid upfront might not be as proactive in marketing your property as you’d like.

You might weigh up your options and still decide this is the best fee structure for you, but be aware that you may be missing out on what your property could have achieved if you had chosen a different route.

EXPERIENCE COUNTS

Make sure that you use an estate agent with enough local knowledge and experience to market your property properly. We’ve been selling and letting houses in Buckshaw Village, Chorley and the surrounding areas since 2004 and we’re incredibly proud of our track record.

We know our local market and that’s why Rightmove named us number one estate agent for Buckshaw Village for the year to date – what’s more, we realise 97 per cent of the asking price on average.

CHECK WHAT’S INCLUDED

Pay attention to the small print when signing any agreement with an estate agent. If you’re happy to supply your own images, conduct your own viewings and generate high quality prospects from genuine would-be buyers (not time wasters) then you might be perfectly happy with a no-frills option.

Remember that if you’re not sure what’s included in the price of a contract, it’s important to ask. Many cheaper estate agents can’t afford the overheads that come with having a shop front, for example, meaning that your property may miss out on some great marketing opportunities. If there are any problems along the way, it won’t be a matter of popping into your estate agent branch and talking to somebody face to face, either.

Here at Redrose, we believe in the importance of absolute transparency and great communication. Our clients also receive:

• Professional photography as standard
• Full colour floor plans (did you know that Rightmove stats have shown that using floor plans increases buyer interest by 30%?)
• Listings on Zoopla and Rightmove
• Office-front TV advertising for maximum exposure
• Accompanied viewings if required
• Plus, a host of friendly advice and guidance drawn from our years of experience selling and letting out property

If you would like Redrose to sell your home or to book a free market appraisal, just get in touch with the team on 01257 547061.

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