Thu 14 Apr 2016
In an ideal world, the sale of your property would be a smooth ride; your agent finds you a buyer, you instruct a solicitor and leave it in the hands of the professionals. A maximum of 12 weeks passes by, you receive payment for the property and hand over the keys to your purchaser - a job well done. However, this isn't an ideal world that we live in, bumps and occasionally giant potholes can and do appear in the road.
1 in 5 House Sales Fall Through
According to new research, one in five house sales fell through in the first quarter of 2016. One of the main reasons a buyer or seller pulled out was because they didn’t believe the sales process was progressing at a fast enough pace (25%).
Other reasons for fall throughs include:
• The seller withdrawing from a sale to achieve a higher offer (25%)
• A buyer having a change of heart (18%)
• A buyer being denied a mortgage by a mortgage provider (12.5%)
• A chain collapse (6%)
• Survey issues (6%)
• A buyer wanting to renegotiate after the original offer has been accepted (6%)
Your estate agent needs to be expert in sales progression
You may be guilty in assuming that the job of an estate agent is done once they have found you a buyer, but this is far from the case.
A good estate agent will be expert at sales progression and do their very best to ensure the sale reaches a satisfactory exchange and completion. They will liaise with both the purchaser's and seller's solicitors every step of the way, and proactively work towards avoiding and resolving issues if and when they occur.
You get what you pay for
So, you've had two estate agents out to value your home, which they both value at around the same price.
Agent 1 is a new online agent who offers you a cheap fee package - they will market the property for just £895, however you may find that sales negotiation and progression will cost extra.
Agent 2 is a traditional estate agent with many years’ experience in the local property market. Their fee is higher and usually calculated as a percentage of the eventual selling price and will include comprehensive marketing, sales negotiation and sales progression.
Who will be responsible for the sale of possibly one of your biggest assets?
An estate agent with great local knowledge and vast experience of the property sector, in our opinion, is going to be more proactive to ensure your sale goes through as smoothly as possible. The old adage of 'you get what you pay for' is more relevant here than ever. Highly trained, experienced and professional staff will be very motivated to sell your home in the shortest time frame possible, for the best price possible.
Thinking about moving?
At John German we have over 175 years of experience selling property. By choosing us to sell your property you will receive a first class service. We aim to keep sale fall-throughs to a minimum; our sales negotiators are trained in sales progression and qualify all buyers to find you the right buyer for your property.
• Vet all viewings
• Check the financial status of your buyer
• Liaise with all parties up and down the chain to keep you fully informed at all times
For more information, property advice or a free market valuation CONTACT YOUR LOCAL JOHN GERMAN BRANCH
"I have just exchanged contracts and I'm so pleased that the people I'm buying from used John German, they have been wonderful. I don't think we would have got to this point without them. Estate Agents do so much more than just advertise your property, there is a long way to go from someone saying they want to buy your property to actually making it happen. I would definitely recommend John German, thank you so much."