Estate agents

Estate agents are instructed by, and act for, the seller not the buyer. They advise on price, circulate property details, often place property advertisements in the local press, put up a ‘For Sale’ sign, arrange appointments for potential buyers to look over the property, taking them round if required, and negotiate the sale.

Although the agent acts for the seller, they should be able to help potential buyers with answers to questions about the local area, such as the proximity of shops, schools or public transport.

It is the seller who pays the agent. The service is free to the buyer. Estate agents’ fees, or commission, are normally based on a percentage of the sale price, although sometimes it may be a fixed amount. The amount charged will depend on the estate agent and the type of ‘agency agreement’:

• Multiple agency agreement – several agents market a property at the same time, Usually, the agent who makes the sale is the only one paid
• Sole agency agreement – one agent has exclusive selling rights for a certain period. Agents often charge a lower rate if they have a sole agency on the basis that they are more likely to get the sale and therefore get paid

Choosing a home

You’ll find it helpful to decide on what you are looking for in a home, before you start receiving estate agents’ property details – the number of bedrooms, any particular age or style of property, the facilities you want nearby etc. Consider, too, the costs involved in the move.

Making an offer

Once you have decided on the property you want to make your home, you will need to make an offer. If you want to haggle over the price, you can do so either direct with the seller or with the estate agent.

The price agreed is your offer and you may wish to put it into writing.