Did you know marketing your property with multiple agents could cost you more than just their fee!
Posted 01.09.21
The benefits…
On the face of it, having a number of agents marketing your home for sale when you are super keen to sell your property sounds smart and a great idea. In theory, the viewings should be higher and naturally, you could see this as the opportunity to achieve more interest and a higher price! But in fact, there will be a number of pitfalls you will need to consider.
The pitfalls…
With multiple agency, this means you instructed a number of agents to market your property where they are competing against each other to agree a sale on your property. As the world of estate agency is based around No Sale No Fee, it means the agents see it as a race to find a buyer before their competition, otherwise, they do not get paid. This now becomes a race to find a buyer before the other agents, instead of finding the best buyer for you, which creates a huge shift in the agent’s priorities!
You also risk a situation where several buyers will be registered with more than one agent and a fee dispute around who introduced the buyer to you appears! This is not a situation you want to be in.
Will the agent find the best buyer for you or them?
Based on the short facts above, with multiple agency marketing, there is always going to be a situation where you will receive several offers on your property from different agents. The difficulty you will have is identifying which buyer is the best buyer for you? Because the agents will both say they have the best buyer!
We do feel this takes away the whole reason you employ an agent to sell your home. Finding the best buyer for your client is what a good agent is about. See why we are different and how we could help you sell your home. Click here
Our view
Multiple agency marketing can have its place, but make sure you ask the agent all the right questions when they present a buyer! We call it our 4 rule policy, ask the agent if they have one?
Matt Holmes
Director
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