How to choose an estate agent in London
Selling a home, buying a home, renting your property out, finding a place to rent in a prestigious area, evaluations…it can all become an incredibly frustrating, overwhelming and costly task if you don’t know up from down in the real estate industry. That's why estate agents exist in London: to take the pain out of the process and make getting a home or finding a tenant something enjoyable and fulfilling—if they know what they’re doing.
The trouble with the luxury property business in London, as it is everywhere, is that the layperson doesn't always have all the information required to make a solid decision and may be taken in by unscrupulous agents who happen to be very good at marketing if they aren’t careful. Lucky for you, we’ve done all the hard work and come up with a set of guidelines to help you find the right estate agent for the job. These do’s, don'ts, red flags, and green flags will guide you through the process and connect you with the perfect agent for your needs.
Simple Questions To Ask
Estate agents in London deal with some of the best-informed, wealthiest and most selective clients in the world, so they need to know their stuff. There are a few very basic questions you can ask any estate agent you meet or are considering to vet them at the start of the shopping around process to sort the wheat from the chaff, so to speak.
How many properties have you sold or rented out in this area?
What would your instincts be about a marketing strategy for my home?
How will you communicate with me throughout the process to keep me informed?
May I please see some references from past clients?
What makes you stand out above the crowd in your industry?
Your Checklist
Look For Advertisements in the Relevant Area
Let’s say you’re looking for a property in a beautiful location like Kensington. It’s likely you’ll take more than one drive around the area looking at all the local amenities, the streets you prefer, and so forth. Keep your eyes peeled for advertisements from agents already working in that area. Contacting these agents before any others will help speed up the process because they’ll be familiar with the nuances of the Kensington area.
Consider An Agency’s Overall Reputation
If you come across an agent you like the look of, we recommend considering their agency’s reputation as a whole. While it's possible to find a standout agent in an unknown, new or not entirely successful agency, it's unlikely. Consider an agency like Chestertons. Their reputation as deal closers and excellent communicators precedes them and is easily verifiable (see the coming points). They are well known as one of the best estate agents in London, and, as such, are more likely to be able to take you all the way.
Read Reviews
The best source of information in most industries is reviews from previous clients. A client who has paid for a service and is unhappy with what they received is hardly likely to post a nice review: they’ll be honest, and aggressively so, so you’ll easily know which agents to avoid and which ones to choose over all the rest. Writing a nice review doesn't get a client anything extra, so they have no motivation to lie. Reviews are the source of information that's most likely to be (at least for the most part) true and accurate.
Compare Rates, Terms and Commission
Different agents and agencies will work on different rates, terms and commissions for their agents. It’s essential to find an agency that gives you the best rates and finds the best terms for you, but that will also compensate your agent well for the huge amount of work that goes into marketing a home. Everyone who is part of the process should see the best possible outcome, and you’ll find that agents are far more motivated to work hard when they’re taken care of by a decent commission.
Review Track Records
An agent who has successfully sold, rented out, managed or bought homes for clients in the past is the best choice. There may be brand new agents with a nose for an excellent deal and natural talents, but if they haven't been tried and tested, you won’t know for sure what kind of service you’ll get. Choosing an agent who has proven themselves time and time again gives you the best chance of the best possible deal and the easiest process.
Review Past Marketing Strategies
This is essential if you are selling a home or are interested in letting one out. Marketing strategies target the demographic that would look for a home in the area in question at the price in question. Depending on the property, marketing can include photo and video shoots to show your home off to its best advantage, social media marketing, flyers, and possibly even a billboard. Reviewing what agents have done for properties similar to yours in the past will give you an idea of whether or not they will promote your home the way you’d prefer.
Trust Your Instincts
Even as a client with no understanding of the property industry at all, you should trust your instincts. Something inside you will usually indicate one way or the other whether or not the fit, the deal and the terms are entirely right for you. Trust that gut feeling because it's usually more spot on than most people give it credit for.
The More You Know…
…the better choices you're equipped to make. These tips and strategies will help you choose the perfect agent for your needs, and before you know it, your home will be sold and you’ll be enjoying your new chapter in your perfect new space.
