Estate Agents, Buying, Renting and Selling Property

If you're thinking of purchasing a property it is important to use all the resources available to you. Check out every Estate Agent in the area as well as the local press for private property adverts. Drive around the areas you're considering purchasing property in to see if there are any new houses being built which may not be advertised yet.

The internet is a good source of information and there are a few large portals which advertise many thousands of properties, however none of the major internet portals will advertise all the properties available, so it will be necessary to search out individual Estate Agents web sites. A search for Estate Agents, on Google or MSN should prove fruitful. Of course, it's also important to note that not all Estate Agents will have web sites.

Auctions can be a useful source for property for sale and property can sometimes be purchased at discount prices.

When viewing a property for sale in ensure that everything is sound. Roll back the carpet to check out the state of wooden flooring. If there's a crack in the ceiling, get out your step ladder and have a good look at it (have you ever taken a step ladder to a viewing?). Don't allow the Estate Agent conducting the viewing to rush you. Buying a house is one of the biggest purchases most people make so it's important to take your time, the old saying "act in haste, repent at leisure" definitely applies to purchasing property.

Always remember that an Estate Agent will be acting on behalf of the seller. Once the property is sold, the Estate Agent will receive a commission on average 1.75% of the sale price. So, it is in the interest of most Estate Agents to get the highest price they can for the property, but they may be willing to accept offers below the stated sale price. You'll need to work out exactly how much you'll need to spend on the property to bring it up to your standards and this figure could be the basis for your offer. e.g. sale price less cost of repairs = offer price.

How does the property compare to others of similar price? It really is essential to view as many properties as you can in order to get a feel for the market. So the more sources of property for sale you can find, the better.

Of course, if you're looking to rent a property it is also important to search all the sources of information you can. Drive around the local area of that you're interested in to see if there are any "TO LET" signs apparent.

Estate Agents can be a good source of property to rent and of course the internet is a very useful resource. Try searching for Estate Agents on Google or MSN as well as property to rent etc.

If selling your property, you're probably going to need the services of an Estate Agent because, although there may appear to be other cheaper ways to sell, none are more effiicient than selling through an Agent (if you know different, please let me know). After all, if you work hard for a living you need to be honest with yourself. Can you afford the TIME to "do it yourself"?

Try to get three valuations. Most Estate Agents will be happy to provide a valuation free of charge, after all, they will get a large commission if they sell your property. The highest valuation may not always be the best though, because the property may not sell at all or at best be hanging around for a LONG time.

It's a very good idea to get to know your local area well before you sell and get a feel for what other similar properties are selling for. Go for the agent who gets closest to your "guess".

You can of course check out online fixed fee "sell it yourself" deals and while the appeal of saving thousands of pounds cannot be denied, an Estate Agent will generally earn their money by getting a quicker sale. They'll also try their hardest to get the highest price for your property.

Like anything else, when selling property, it pays to do your homework and shop around.