Sole Agency – Is it worth it?

We understand how stressful it can be to sell your home, and it is understandable that prospective sellers may be tempted to appoint two or more agents in the hope of increasing their chances of selling. However, this can be counter-productive, for the following reasons

1. A sole agent has time to negotiate the best deal for you, rather than trying to secure a sale at any price before the other agent finds a buyer. Build a platform of competition between buyers – not agents.

2. More agents = more exposure? Not really. Too many cooks spoil the broth, and an agent with effective advertising and internet presence is likely to reach all relevant and serious buyers.

3. Don’t cheapen your house – appearing desperate encourages low offers.

4. A sole agent is accountable to you and committed to delivering results.

5. A sole agent is willing to invest considerable time, effort and expense in marketing your property as there is guaranteed commission when a sale results.

6. Buyers are attracted to sole agencies, as they know they will be dealing with the main player and are unlikely to be gazumped.

7. There may be certain security or sensitive issues involved that can be compromised under a multiple agency.

8. Conflicting prices/terms in different agents’ adverts can jeopardise a sale.

9. Sole agency avoids potential claims for double commission if there is any confusion over who introduced the buyer.

10. Commission levels are usually lower than multiple agency fees

11. Statistics show that sole agency properties sell faster.

Most of our properties are sole agencies because of our passionate belief in accountability, service and results, so when the time comes to sell, why not call us on 020 8458 8555.

I hope you enjoy reading our property-related articles and market reports such as the one above.

If you’d like to submit any suggestions for future topics you’d like us to address then please do let us know.