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Ever Fallen for the “Buy Cheap – Buy Twice” Trap?

What’s the difference between an estate agent and a great estate agent?

I can tell you – its 4% of your asking price.

According to extensive research, the average estate agency achieves just 95% of the asking price whereas great agents achieve 99-100% (at Helmores we achieved 99.1% average during the whole of 2019). On a £500,000 house, that 4% difference equates to £20,000 more for your house… that’s a lot of money! So we can agree that choosing a great estate agent is crucial?

As with anything good, great, extra-ordinary or premium service, it’s slightly more expensive but BETTER VALUE overall.

How many times have you opted for the cheaper option, only to have to return and buy the quality option. As the saying goes, buy cheap, buy twice.

Estate Agents are no different, there are the good, the bad, the ugly and the remarkable. A bit like surgeons… some have carried out lots of procedures and so have more experience and knowledge, some have only just started and could more easily make a mistake.  When it comes to estate agents and negotiation, it’s no different.

Picture this… You have a house which you’re planning on marketing at £500,000.

Agent 1 is offering to sell it for 1% but has a track record of achieving 96% of asking price and agent 2 is offering 2% but has a track record of achieving 99%… which is the cheaper agent? Agent 1 right?

No, of course not!

Agent 2 is because they’re more likely to achieve you £15,000 more for your house but only charge you £5,000 more so you’re £10,000 BETTER OFF at the end… that’s what it’s all about… the END amount of money in you’re left with IN YOUR POCKET

A great tool is the estate agent performance comparison website here: www.getagent.co.uk   – it will show you which agents are achieving the best prices in your area.

Thanks for reading – if you have any comments or questions feel free to post below, or get in touch, I’d love to hear from you!

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Estate Agents serving Devon with property related matters since 1699.

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