When it comes to selling a property, choosing the right estate agent is crucial. But what factors influence a vendor's decision when selecting an agent? According to the Property Academy Home Moving Trends Survey 2022 conducted by Dataloft, professionalism and knowledge were the top reasons why prospective vendors choose their agents, regardless of their age or experience as sellers.
It's not surprising that professionalism and knowledge are critical factors for vendors when selecting an estate agent. After all, selling a property is a significant financial and emotional decision, and vendors want to work with someone who is experienced, reliable, and knowledgeable about the local property market. A professional estate agent can provide valuable insights into the market conditions, help vendors set realistic expectations, and offer guidance on how to present the property in the best possible light.
However, when it comes to the most cited reason for choosing an agent, the survey found that it was 'confidence in an agent's ability to market my property,' followed by 'liked and trusted them.' These findings indicate that vendors want an estate agent who can effectively promote their property to potential buyers and someone they feel comfortable working with. This suggests that while knowledge and professionalism are important, personal relationships and communication skills are also critical in building trust and ensuring a successful sale.
Interestingly, the survey also found that 37% of vendors include 'pleased with their valuation' in their top 5 reasons for selecting an agent. This factor was more prominent among younger and less experienced sellers, indicating that they may place more importance on the initial property valuation than their more experienced counterparts. A realistic valuation is essential, as overpricing can deter potential buyers, and underpricing can result in a lower sale price than the property's true value.
Finally, with the property market stabilising, selecting an estate agent who understands market conditions and prices accordingly is crucial for achieving sales success. As market conditions can change rapidly, estate agents must keep up to date with the latest trends and fluctuations to ensure that their clients receive accurate and timely advice.
In conclusion, selecting the right estate agent is a crucial decision for vendors when selling a property. While professionalism and knowledge are essential, personal relationships, effective communication, and a realistic valuation are equally critical in building trust and ensuring a successful sale. Ultimately, working with an experienced estate agent like Taylor Robinson who understands the local market and can price accordingly is key to achieving a successful sale in today's property market.