Switching Estate Agent
When deciding to sell a property, the majority of people will use the services that an estate agent offers to assist with the whole process. There are so many different estate agents these days and choosing an estate agent is a big decision. They have the power to make the sale of your home as stress-free as possible and ensure you get the best possible price for your property.
It isn’t uncommon for people to choose one estate agent but be unhappy with the service they are receiving and want to change agents. Not many people are aware that you can actually switch estate agents if you want to. Sometimes changing agents can make the world of difference to your sale. To help anyone that is considering this, Moovingo Estate Agent has gone into detail about this process below.
Check Your Contract
The estate agent industry in Ireland is regulated by the Property Services Regulatory Authority (PSRA), its mission is to control Auctioneers, Estate Agents, Letting Agents and Management Agents. They work to protect the interests of the public by ensuring that high standards are maintained in the delivery of property services.
As per PSRA regulation, all agents are required to draw up a contract between you and them. Like most contracts, it’s quite detailed but it is there to protect you and outline the agreement in place, if you would like a draft copy of a PSRA contract, please feel free to email us and request one.
Included in the agreement is a section on ‘Termination of the Agreement’, this section includes key items to protect a vendor should an agent go bankrupt or lose their license.
What’s not included and the number one reason sellers switch agents is poor performance. Poor performance generally comes down to no offers, no offers within the Advised Market Value (AMV), low volume of viewers, poor marketing, poor communication and so forth. Generally, when an agent performs poorly and you wish to exit the contract they will allow you to do so without any penalty.
Many agents will have a contractual tie in period. If they do, this means that you either have to stay with them for this length of time or you will have to pay a withdrawal fee to move your property to another agent. These tie in periods can range from 8 weeks to 52 weeks so, it is always worthwhile checking your contract for this before you do anything else.
If you do have a tie in period and you can pay a withdrawal fee, then it is worth weighing up the cost of this before you make any big decisions. Ask yourself if it really is the agent you feel you need to change or is there another way to make a difference?
Raise Any Issues
Speak to your current agents, they will want your property to sell as much as you do. After all, they often get a commission from the completion of the sale. It is always worth telling them about the issues you have at the moment and seeing if there is anything that can be done to correct these. It may be that your agent is able to help and you don’t need to switch to a new estate agent.
After you have raised these issues and if you feel as though they weren’t handled in the correct manner then make sure you use these issues to help you choose a better agent next time. The last thing you want to do is go through the whole process again.
The majority of agents, whether they have a tie in period or not, should be given a notice period. This gives your agent the opportunity to exhaust all current leads and have one last push to get your property sold. Make sure that you are aware of when this notice period ends so you can get things in place with a new agent.
You must be aware that if you’re in a sole agency contract with your agent (your contract will tell you this) then you can’t allow another agent to start selling your property until the old agent has ceased all marketing in accordance with your notice period.
Choose A New Agent
This is one of the most important steps. You don’t want to rush into working with a new agent until you are completely sure that they are the best company for you and your property. Take your time to do your research and look into both high street agents and online or modern agents before you make your final decision.
Speak to any potential agents about the experience you have had previously and make sure that they have a solution to the issues you faced before. Ensure that you are clear about your goals and don’t settle if you don’t feel 100% happy.
Switching Estate Agents Made Easy
All in all, switching estate agents is possible and you can make the move if you’re really unhappy so, don’t suffer in silence. If you aren’t satisfied with your existing agent and would like to find out more about selling your house with Moovingo estate agent, contact us now or book a free property valuation now. Our experienced team will be able to answer any questions that you have about selling a house successfully and we will ensure that you have all of the additional information that you require.