How to choose an estate agent without being flattered into a mistake
The agent who values your home highest is not the one who will sell it for the most. They are the one who wants the instruction.
Estate agents compete for instructions, and the easiest way to win one is to name a high figure. An owner who has been told their home is worth £350,000 will usually instruct the agent who said £350,000 over the two who said £320,000, even though the two may be right.
The consequence is predictable: the property sits, the price comes down, and the eventual sale is at a figure lower than a correct initial valuation would have achieved, several months later. The high valuation cost money and time.
What to ask before instructing
The questions worth asking are the ones with verifiable answers. An agent who cannot evidence their claims is telling you something about how they will evidence their work later.
- How did you arrive at that figure, and can you show me three sold comparables supporting it?
- What is your average percentage of asking price achieved, and what is your average time to sell?
- How many properties did you sell in this postcode in the last twelve months?
- Who will conduct the viewings, and how much local knowledge do they have?
- What is included in your fee, and what is charged extra — photography, floor plans, portal upgrades, Energy Performance Certificate?
- What is your notice period, and what are the terms if I want to leave?
Reading the answers
The agent who arrives with comparable sold data and a marketing plan is doing the work. The agent who arrives with a high number and a confident manner is doing the selling — of themselves, to you.
Sole agency is usually the right structure, because it makes one agent accountable and motivates them to spend on marketing. Multi-agency can work for unusual properties, but it dilutes effort and often means no agent treats the property as a priority.
Holding them to the plan
Agree in writing what will be done and when: photography by a date, portal listings live by a date, feedback after each viewing, a review meeting at four weeks. A plan with dates is what turns a promise into an obligation.
Review at the agreed point against evidence rather than sentiment. If there have been no viewings, the issue is the price or the marketing, and both are diagnosable. An agent who cannot tell you which, with reasons, is not managing your sale.
Common questions
- Should I choose the agent with the highest valuation?
- Almost never. An inflated valuation wins the instruction and then costs you money through a delayed sale and a later reduction. Choose the agent whose figure you can verify from sold comparables, and who can explain their marketing plan in specific terms. If their valuation is much higher than the others, ask them to justify it with evidence — and be sceptical if they cannot.
- Is sole agency or multi-agency better?
- Sole agency suits most properties. It makes one agent accountable, justifies their spending on professional photography and portal upgrades, and avoids the situation where several agents each assume another is doing the work. Multi-agency is occasionally right for an unusual or high-value property where a wider net genuinely helps.