Selling or buying property is often referred to as one of the most stressful events in life – but it doesn’t have to be.
In this current climate especially, the expertise, knowledge and all-in-one service that a Solicitor Estate Agent can offer you is crucial.
Now, more than ever, if selling and/or buying the relationship that can be established with a Solicitor Estate Agent from start to finish could end up saving you (and gaining you) more than you think…
Consider the true cost of selling and reflect on false economies
Your home is by far your biggest asset. When you are making one of your biggest life decisions it is imperative that you select a Solicitor you engage with and cares about your goals and how to best help you achieve them.
You should consider what is important to you – do you want your Solicitor to be available to talk to you or are you happy being on the conveyancing conveyor belt with little contact from your Solicitor?
Often, the sale of your property is one of the very few occasions in life where you can maximise your capital tax free. This is a time to engage experienced professionals – it is not the time to find the cheapest agents you can that could cut critical corners but we also don’t believe marketing and selling your property has to cost the Earth!
You don’t buy the cheapest in other important areas of your life so why engage the cheapest agents to undertake the biggest transaction of your life? Cheapest doesn’t always mean cheapest or best. The cheaper fee could end up costing you more, particularly if your property does not sell or achieve its full potential with an online agent.
It’s completely understandable that homeowners may be attracted to online estate agents with clever TV marketing with cheap upfront Estate Agency fees. Research clearly shows that you won’t necessarily be saving money and it could be a very bad assumption to make! Consideration must be given to your final outcome.
Together EPPG Solicitor Estate Agents have over 100 years’ experience in the Edinburgh property market. This experience stands us in excellent stead to provide you with the best knowledge of the local area and ensure you get the best price for your property.
That is why 25% of property sellers in the ESPC entrust the four firms in EPPG with the sale of their property.
We have spent many years forging quality relationships with other solicitor estate agents, surveyors and mortgage advisors all to give our clients the best experience possible.
A Solicitor Estate Agent crucially markets your property on ESPC (the Edinburgh Solicitors Property Centre), the most important property portal in East Central Scotland.
ESPC agents get their clients 3% more on average for their property sale.
If you are selling a property at £200,000 for example – that’s £6,000 more! They won’t tell you this, but if you use an online Agent to sell your home your property will not be advertised in the ESPC – so your marketing reach is materially restricted.
You can use ESPC’s helpful online calculator here to find out how much more you could get for your property with a Solicitor Estate Agent member firm.
EPPG Firms have all seen examples of even more dramatic differences in selling prices achieved.
In 2018, two mirror image 3 bedroom semi-detached properties went up for sale in Clermiston. EPPG member Deans sold one for £401,250. The very same month, a well-known national franchise sold the other for £330,000. The true cost to that seller of a “cheap” agent was over £70,000. Source: Rightmove sales archive.
With Solicitors on hand to complete the conveyancing once you have successfully accepted an offer on your property, there is no need for you to be passed from a marketing agent to production line conveyancing processing firm (who could be based anywhere in the country) who don’t know you, the local area nor what you want to achieve from your transaction.
EPPG firms offer comprehensive, solicitor-led services involving several experienced professionals throughout the sales process from first valuation and appraisal through to completion and moving:
- We have skilled and experienced valuers obtaining the most accurate and up to date Home Report value estimate to send to the surveyors.
- We have access to the detailed ESPC Member Portal – not available to the public or non-Solicitor Estate Agents.
- Meticulous marketing executives prepare your property for the market aided by eye-catching professional photography, detailed, accurate floorplans and well-written descriptions with a good understanding of what buyers are looking for.
- Property teams pair the property to a database of active buyers.
- Conscientious sales negotiators carefully generate the best results, knowing that a fast sale is not always the best sale.
- On the ball legal teams make sure title deeds are ready for inspection, i’s dotted and t’s crossed with necessary paperwork so they can swiftly issue a qualified acceptance of the best offer.
- Skilled solicitors make sure the Sellers best interests are at the heart of what they do, tying in an onward purchase and carefully negotiating to make sure the next home is the best buy it can be.
Our top tips for deciding who to sell your biggest asset with:
- Choose your Estate Agent wisely, choose one that has an incentive to sell your property and will work hard to obtain the best sales price.
- Do your research and speak to several agents before deciding.
- Ask for examples of recent sales in the area, and what sales prices have been achieved recently. Ask if any have gone to a competitive closing date. Closing dates and good sales prices being achieved is indicative of skilled negotiation experience.
- Check recent reviews and testimonials on trusted (and free) review pages such as Google. If an agent is in favour of paid-for alternative review sites (which can be vetted and deleted), ask yourself why this may be.
- An honest agent will always be happy to put you in direct contact with anyone who has left a recent review.
- Remember – there is no point in saving a few hundred at the start of your sale, if it is going to cost you up to tens of thousands off the sale price.
- Consider carefully whether, if you pay an estate agent up front, if they will be sufficiently incentivised to get the best price for your property.
Testimonials for EPPG Firms
Neilsons: “Thank you Neilsons for selling our home. After 4 years of trying to sell our rural home (a property with particular appeal) with online agents… we took advice and recommendations that Neilsons would be our best option, for price, for their marketing, and friendly assistance. That advice was true and our experience with Neilsons has been excellent. Neilsons took great care and attention to the photographs and how we wished to market out property. We had support and assistance from the team in Corstorphine and our Negotiator was always understanding and accommodating to our needs. Nothing was too much trouble and they always phoned back or emailed as they promised. The Solicitor, Dave Marshall, concluded the sale and continues to assist us with other matters. I can thoroughly recommend Neilsons Solicitors and Estate Agents.”
Warners: “Expert advice and an incredibly helpful team helped us get an offer accepted on the home of our dreams and then secure an excellent offer on our current flat – all in less than a month. We have felt so well-supported by Warners and can’t speak highly enough of everyone we engaged with over the past month. Particular thanks to Michelle for the constant support and for going the extra mile as we moved towards closing on our flat. Thanks also to Anne and Amy for booking all the viewings so efficiently. We also really appreciated Scott’s advice as we noted interest and made an offer on the house that will now become our new home.”
Deans: “I took three firms, including Deans, for an initial valuation to sell my property. I did not choose Deans for the sale, but a cheaper agency. There were small problems at the start. I lost confidence in my selling agency and chose Deans to help me find and purchase a property. Deans were helpful and positive from the start. My solicitor was ahead of the game, answered messages the same day, and asked if I had concluded missives on my sale. I did not understand the meaning and importance of this, so she explained clearly. The solicitor for the sale was not responding to my buyer’s enquiries, and time was running out. I was desperately worried – my purchase of my new home depended on the sale proceeds being available on Thursday when settlement and my move were due, and my cheap solicitor still had not concluded missives on Friday night. My stress was enormous. Writing to the Managing Director got the sale missives concluded on Monday, after eight weeks. Deans concluded on my purchase within two hours and guided me to successful move. Don’t waste money on cheap goods or services!”
VMH: “Such a professional team, always on hand to answer questions and provide advice from marketing through to the sale…Having used an online agent and (terrible) cheap conveyancer in the past, VMH have surpasses all expectations and I can’t recommend more highly”
Next week’s topic… purchasing a property with a Solicitor
In next weeks article we will look at the purchase considerations and the role of your Solicitor in the purchase transaction! Most sellers want continuity and to coordinate their sale with their purchase and that is what we do, and we will cover this in next week’s informative blog.