What Do Agents Do?

There are many professional estate agents in and around the UK and the service they offer can be invaluable in selling your property. They usually start by visiting your property and suggest prices for you to consider:

• An asking price – What to advertise for?
• A fair price – if you cannot achieve the asking price
• A lower price – likely to sell the property within the quickest time possible

These prices will be an opinion of how much he or she thinks they can sell your house for, so it's worth getting the opinion of at least 3 agents, who have a good understanding of the property market in your area. Estate agents are not legally entitled to provide a survey, only a surveyor can do that and it will be the surveyor who ultimately calculates what your property is worth.

Use the estate agent's knowledge. Ask questions to find out how the property market is moving in your area, how many viewings to expect and what percentage of the original asking price you can expect. This is important market information which will help you set the price and manage your expectations.

Arrange a contract

An estate agent will require a contract between yourself and them. They will usually draw up and send you a contract based on 'sole agency', 'sole selling rights', 'multiple agency' or 'joint sole agency' terms. Make sure you read the agreement terms and the small print in detail and question anything you're unsure about. The estate agent will be able to explain what each type of term means.