| Qualification and aim of Estate Agents |
Selling property is a common problem which is faced by majority number of people. If you are also in these peoples and want to selling property than decide to use an Estate Agent. This article should give answer a many simple questions about Estate Agents, how they work, how they are paid and how you can get the most from them.
There are some professional qualifications which are very important for a real estate agent. Estate Agents are not like Chartered Surveyors whose exams are mandatory. It is possible to operate as an estate agent with little or no training. The professional qualifications consist of NVQ levels 2 and 3 in "Sale of Residential Property". The National Association of Estate Agents provides Technical Awards at level 3 in different categories such as Sale of Residential Property, Property Management and Residential Letting.
Estate Agents always operate to make a profit because they are not independent in property market, but directly benefit from rapid turnover of properties. With this in mind, their potential customers can consider the services on offer.
Generally estate agent after seeing your home offer suggest price. This will be based on the price the agent believes the property can sell for. If the agent has researched the area and other comparable properties, it is likely that this suggested price will be based on the actual sales prices of similar property in the area, within a recent timeframe. However, there is a risk that the initial suggested asking price will be higher than realistic, in the estate agents attempt to win the instruction. With this in mind, you can easily acquire a second opinion on the value of your property. Offer a service where homebuyers as well as property professionals can access recent transaction prices within an area and obtain a suggested valuation for a specific property.
Photographing and producing publicity material is the responsibility of the Estate Agency. It will then advertise your property in their window, through "For Sale" boards, via mail-outs and possibly in newspapers and online. Publicity and marketing of your property is responsibility of estate agency.
The aim of Estate Agents to earn profit. Estate agency receives a commission in return of work. The commission is different but usually you would expect to pay between 1% to 4% of the sales price. Make sure you are clear on what services are included in the fee. From the beginning of the process make sure that your contract clearly outlines what the role of the estate agency is to include.
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