Are the larger and VERY expensive estate agents the best?

Question

I want to sell my business. Some estate agents are really expensive. Is it justified to pay so much in charges or would a smaller estate agent be just as good if the business is worth buying?

Answer 1

In short - large and more expensive does not mean the best.

You should shop around for the best deal. Estate Agents can find you buyers and help market your property, but beware of the fees. Do not use sole agency, this puts you at risk if you are with a less than honest agent (some are honest) who will then get a "friend" to make an offer below market value (which they wont tell you).

Market through multiple agents (different companies - not just branches), you may pay up to 1% more commission but this way you will maximise the sale price. Do not assume small agents are better, some are, some are not, the safest way is multiple agent marketing. Additionally consider marketing your property on line - many companies provide this service - type property to sell in your search engine and take a look.

Good luck

Answer 2

Since most answers are against using a larger company, I'll give you a reason that you may want to use one. Sometimes these companies and agents have more contacts than smaller companies and may be able to sell much faster - which would save you money by not having to sit as long on the market.

Other than that, you should interview a few different companies and make a decision based on who you think can sell your business faster and with less hassle, whether they're large or small.

Answer 3

You have the option of selling your business yourself. If you are going to use an agent I would suggest a smaller company. I think they do a better job. For example my company has only 25 agents but we use the MLS system just like the bigger companies. I do find that we are more ethical than some of the larger companies. We are not as concerned with numbers and follow the rules more than some do. I can't mention any names but there are a lot that push the limits. I would use one just as I would not try to defend myself in court. Good luck.

Answer 4

Try selling it on the net, it costs as little as £100 one of the companies are call propertyladder (I think) lol - As a mortgage broker my view of estate agents are that people should stop using them and use the net, they are scoundrels that will squeeze every last penny out of you and not always honestly. As for the big estate agents they are the worst of the lot. K

Answer 5

You don't actually need to use an estate agent at all, but if you must, the size makes no difference if there are potential buyers out there. It's just a matter of making sure they know about it and the price is right.

Answer 6

No. In fact if you put in a little research yourself you can do without Estate Agents. They are just another way of extorting money from people who do not understand the way the system operates. I would not go as far as calling them bloodsuckers like solicitors and barristers, but they appear to have similar backgrounds.

Answer 7

No because the smaller ones may take less money from the price of the house i should know i work in one

Answer 8

The largest one in Britain (Foxtons) was revealed to be crooked a few months ago on TV. They arranged fake passports and systematically lied to customers and buyers.

Answer 9

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Answer 10

You get what you pay for.