Category: Estate Agents

The Ultimate Guide to The Property Investor Show 2024

What is The Property Investor Show 2024?

The Property Investor Show 2024 is the UK’s largest and most comprehensive property investment event, taking place on 4th and 5th October 2024 at ExCeL London. It’s designed for property investors, landlords, home buyers, and professionals looking to learn, network, and explore the latest trends in UK property investment.

Why Should You Attend The Property Investor Show 2024?

  1. Expert Guidance and Education: Access 80+ free seminars and live speaker sessions that cover everything from property investment strategies to tax implications, legal frameworks, and finance options. Learn directly from industry experts to make informed investment decisions.
  2. Networking Opportunities: Meet and connect with like-minded property investors, developers, estate agents, and financial experts. Build relationships that can open doors to exclusive property deals and collaborations.
  3. Discover the Latest Property Investment Innovations: The show features close to 100 exhibitors, including property developers, technology providers, and mortgage lenders, showcasing the latest investment tools, financial products, and property developments.
  4. Interactive Q&A Sessions: Engage with industry professionals in live Q&A sessions where you can get tailored advice and answers to your specific property investment questions.
  5. Explore International Property Opportunities: Gain insights into international property markets, with representatives from countries like Cyprus, Dubai, Nigeria, Montenegro, Sri Lanka, Portugal, Spain, Turkey, France, Austria, Cape Verde, and the USA, providing advice on overseas investment options.
  6. Free Entry and Exclusive Deals: Both entry to the show and all seminars are completely free. Attendees also have access to exclusive offers on property projects, often with early-bird discounts.

Watch this video to see highlights from The Property Investor Show 2023 and get a glimpse of what to expect at this year’s event.

Event Details

  • Dates: Friday 4th October (10:00 am – 6:00 pm) and Saturday 5th October (10:00 am – 5:00 pm)
  • Venue: ExCeL London, Hall Entrance N4, West Entrance
  • Transport: Custom House (Elizabeth line and DLR)

How to Register for The Property Investor Show 2024

Registration is completely free. It’s recommended to pre-register online to avoid queuing at the venue. Visit the official website to secure your spot.

Key Features of The 2024 Property Investor Show

  • HMO Zone and STR Zone: Dedicated feature areas focusing on Houses in Multiple Occupation (HMOs) and Short-Term Rentals (STR), offering in-depth insights and guidance for investors.
  • International Property Investment: Meet exhibitors from over 10 countries, providing detailed information about international investment opportunities.

Getting There

Public Transport: Take the Elizabeth line or DLR to Custom House for ExCeL.

Driving: Access the venue via Royal Victoria Dock Road or the A112. Note that Sandstone Lane and Seagull Lane are closed.

Contact Information: For inquiries, contact +44 (0)20 8877 0610 or email [email protected].

FAQs

1. Is entry to The Property Investor Show 2024 free?

Yes, both the event and all seminars are free to attend.

2. Who should attend the show?

The event is ideal for landlords, investors, property professionals, home buyers, and anyone interested in property investment opportunities.

3. What are the key benefits of attending?

Gain expert insights, network with professionals, explore the latest property trends, and access exclusive investment deals.


Top 22 Jargons Used by Estate Agents in the UK

Understanding the specific language used by estate agents can be challenging for those unfamiliar with the industry. Estate agents often use terms and abbreviations that are unique to the property market, which can lead to confusion for buyers and sellers. Here, we explain some of the most commonly used jargons to help you navigate the property buying and selling process more easily.

1. Appraisal

An appraisal is an objective assessment of a property’s market value. It is essential in real estate transactions as it helps establish a property’s fair price, which can influence buying, selling, or securing a mortgage. Appraisals consider factors like location, condition, and market trends.

2. Broker

A broker is either a licensed estate agent or a real estate company responsible for facilitating property transactions. They act as intermediaries between buyers and sellers, negotiating terms and ensuring the transaction proceeds smoothly. Brokers earn a commission for their services, which varies based on the deal’s value.

3. Certificate of Eligibility

This document confirms that an individual meets specific criteria to be eligible for certain public benefits, such as housing assistance. In the property market, it may be required to prove eligibility for public housing or rent assistance.

4. Commission

A commission is the fee paid to an estate agent for their services in buying, selling, or renting property. This fee is usually a percentage of the property’s sale price and can vary based on the agent’s role and the complexity of the transaction.

5. Escrow

Escrow involves a neutral third party holding funds or assets during a property transaction. This company ensures that both the buyer and seller meet all contractual obligations before the transaction is completed. Once all conditions are met, the escrow company releases the funds accordingly.

6. Fair Market Value

Fair market value is the estimated price that a property would sell for on the open market. It reflects what a willing buyer would pay and a willing seller would accept, considering the property’s condition, location, and market conditions.

7. For Sale By Owner (FSBO)

FSBO refers to properties that are sold directly by the owner without the involvement of an estate agent. This method is often used to save on commission fees, though it requires the owner to handle all aspects of the sale, including marketing and negotiations.

8. Home Inspection

A home inspection is a detailed assessment of a property’s condition, usually conducted before a sale. Inspectors examine the property’s structure, systems, and components, identifying any defects or necessary repairs. This process helps buyers make informed decisions.

9. Property Portals

Property portals are online platforms where properties are listed for sale or rent. Examples include Rightmove, Top 10 Property Agents UK and Zoopla. These websites provide comprehensive listings, including photos, descriptions, and pricing, making it easier for buyers to find properties.

10. Listing

A listing refers to the detailed description of a property available for sale or rent, typically found on property portals or estate agency websites. It includes essential information such as price, location, and key features.

11. Property Valuation

Property valuation is the process of determining the worth of a property. It involves assessing various factors, including the property’s condition, location, and market trends. Accurate valuations are crucial for setting sale prices, securing financing, and assessing taxes.

12. Chain

In real estate, a “chain” refers to a sequence of linked house purchases where each transaction is dependent on the preceding one. A break in the chain can delay or collapse the entire series of transactions.

13. Completion Date

The completion date is the day when the legal transaction of transferring ownership of a property from the seller to the buyer is finalized. It’s the day the buyer can move into the property.

14. Conveyancing

Conveyancing is the legal process of transferring property ownership from one person to another. This process involves a series of legal checks, document preparations, and finalizing the transaction.

15. Equity

Equity in a property refers to the difference between its current market value and the outstanding amount of any mortgages or loans secured against it. It represents the owner’s financial stake in the property.

16. Freehold

Freehold ownership means that the owner has outright ownership of the property and the land on which it stands, indefinitely. This is the most complete form of ownership.

17. Gazumping

Gazumping occurs when a seller accepts a higher offer from a new buyer after already agreeing to a sale with another buyer, but before the contracts are exchanged.

18. Leasehold

Leasehold is a form of property ownership where the buyer owns the property for a specified number of years, as outlined in the lease. The land on which the property stands is owned by a freeholder.

19. Mortgage Offer

A mortgage offer is a formal document from a lender confirming that they agree to provide a mortgage loan for a property. It includes details of the loan amount, interest rate, and terms.

20. Surveyor

A surveyor is a professional who assesses the condition of a property. There are various types of surveys, including basic valuations, homebuyer reports, and full structural surveys, depending on the buyer’s needs.

21. Under Offer

A property is described as “under offer” when a buyer has made an offer to purchase, and the seller has accepted it, but the sale has not yet been finalized.

22. Yield

Yield refers to the return on investment a property generates, typically expressed as a percentage. It’s calculated by dividing the annual rental income by the property’s purchase price.

Including these additional terms expands the list to cover more of the commonly used jargons in the UK property market, providing a more comprehensive understanding of the language used by estate agents.

Apply for a Repayment of the Non-UK Resident Stamp Duty Land Tax Surcharge in England and Northern Ireland

Check if you can and how to apply for a repayment if you’re a non-residential purchaser of property in England and Northern Ireland.

Who Can Apply

You or your estate agents can apply for a repayment of the surcharge paid on a property if all the purchasers are individuals and have spent 183 days in the UK in any continuous 365-day period:

  • Starting no more than 364 days before the effective date of the transaction.
  • Ending no more than 365 days after the effective date of the transaction.

The effective date of the transaction is usually the completion date. You must apply for the repayment within 2 years of the effective date of the transaction.

What Information You’ll Need

To apply for a repayment, you will need the following details:

  • Bank Account Information: UK bank account and sort code details for the recipient of the payment.
  • Unique Transaction Reference Number (UTRN): From the Stamp Duty Land Tax return submitted when the property was purchased.
  • Effective Date of Purchase: Usually the completion date.
  • SDLT Amount Paid: Including the non-resident surcharge.
  • Purchase Price: If it’s a freehold property (or other ‘consideration’ if the transaction included goods, works, services, debt release, etc.).
  • Total Lease Premium: If it’s a leasehold property.
  • Net Present Value Calculation: Used when the SDLT was calculated if it’s a new lease.

If you’ve already reclaimed the higher rate on additional dwellings, you’ll need the amount of SDLT due after the refund. You may need to ask your solicitor or conveyancer for these details.

If You Are an Agent Acting for the Purchaser

Estate Agents will need a document signed by the purchaser confirming authority to apply for a repayment on their behalf. This letter of authority should specify if the repayment is to be paid into an account other than the purchaser’s and include the relevant account details. You’ll need to upload an image of this signed document with your online application.

How to Apply for a Repayment

Your application requests HMRC to amend the Stamp Duty Land Tax return for the property. You’ll be asked to certify that the amendment is correct.

There are two ways to apply depending on whether you have a Government Gateway user ID and password:

  1. With Government Gateway: Use your user ID and password if you’ve registered for Self Assessment or filed a tax return online.
  2. Without Government Gateway: Apply via email if you do not have a Government Gateway user ID.

Ensure to save your application and return to it later if needed. Only apply by email if you do not have a Government Gateway user ID.

Need Assistance?

If you find the application process challenging or prefer professional assistance, consider contacting the best estate agents in the UK. They can provide expert guidance and help streamline the application process.

How to Sell a House in Birmingham – 15 Steps

Selling a house in Birmingham involves careful planning and execution. This guide covers 15 essential steps to ensure a smooth and successful sale. We address specific considerations for the Birmingham market, including costs, local regulations, and frequently asked questions.

15 Steps to Sell a House in Birmingham

1. Decide if Now is the Time

If you’re considering selling your home in Birmingham, assess the following factors:

  • Personal Circumstances: Ensure your situation is conducive to selling, as it can take up to six months.
  • Time of Year: The best times to sell are typically spring and autumn. Winter and summer months may see less buyer activity.
  • National Market Conditions: Low mortgage interest rates increase buyer interest.
  • Local Market Conditions: Birmingham’s property market can vary by area, with higher demand in certain neighborhoods.

2. Decide if You’ll Rent or Buy

Consider your next accommodation:

  • Buying a New Home: You’ll know how much you can spend once your current home sells.
  • Renting: This option provides flexibility, especially if you’re moving to a new area and want to explore before committing.

3. Compare Estate Agents

Choosing the right estate agents in Birmingham is crucial. Consider the following:

  • Performance: Look for agents with a strong track record in your area.
  • Fees: Don’t just go for the lowest fee; balance cost with quality of service.
  • Valuations: Obtain valuations from at least three agents to get an accurate idea of your home’s value.

4. Check if You Already Have an EPC

An Energy Performance Certificate (EPC) is required by law. If you don’t have one, it costs between £35 and £80. Check your property’s EPC status and improve your rating if possible by making energy-efficient upgrades.

5. Get Your Property Valued

Valuations are crucial for setting the right asking price. Use local estate agents for the most accurate valuations. Obtain at least three valuations to determine the appropriate price.

6. Decide How Much to Sell Your Home For

Set the right asking price based on:

  • Local Market Conditions: Use tools like local house price indexes.
  • Estate Agent Advice: Trust their expertise in setting a competitive price.

7. Put Your Home on the Market

Your estate agent will list your property on key platforms like Top 10 Property Agents and Zoopla, and provide offline marketing through their network.

8. Prepare Your Property for House Viewings

Enhance your home’s appeal by:

  • Decluttering: Remove personal items and excess furniture.
  • Kerb Appeal: Ensure the exterior looks inviting.
  • Fixing Issues: Address any necessary repairs.

9. Choose a Conveyancing Solicitor

Select a conveyancer to handle the legal aspects of your sale. Both local and online conveyancers are options. Ensure they offer a fixed fee service.

10. Accept an Offer

When receiving offers, consider:

  • Proximity to Asking Price: Compare offers with your asking price.
  • Buyer’s Financial Position: Assess their reliability.
  • Estate Agent’s Advice: Follow their guidance on negotiations.

11. Negotiate Contracts

Negotiate the terms of the sale, including:

  • Completion Date: Adjust to benefit the buyer.
  • Inclusions: Decide what fixtures and fittings are included.
  • Survey and Tax Costs: Offer to cover certain costs to sweeten the deal.

12. Exchange Contracts

Your conveyancer will handle the exchange of contracts, setting a completion date. This process makes the sale legally binding.

13. Complete the Sale

On completion day:

  • Transfer Funds: The buyer’s conveyancer transfers the mortgage funds.
  • Transfer Ownership: You hand over the keys and vacate the property.
  • Move into New Home: If buying, coordinate the move to your new property.

14. Pay Off Your Mortgage

Your conveyancer will use the sale proceeds to pay off any outstanding mortgage. Ensure all fees are covered before receiving the remaining funds.

15. Pay the Conveyancer and Estate Agent

Your conveyancer will deduct their fees and your estate agent’s commission before transferring the remaining sale proceeds to your account.

FAQs

What is the first thing to do when selling a house in Birmingham?

Request a valuation from a local estate agent to get an accurate estimate of your home’s value.

Should I buy before selling my house in Birmingham?

This depends on your situation. Buying first provides clarity on budget, but renting offers flexibility.

What costs should I expect when selling a house in Birmingham?

Expect to pay estate agent fees (1-3% of the sale price), conveyancing fees (£500-£1500), disbursements, and possibly EPC costs (£35-£80).

How long does it take to sell a house in Birmingham?

The process typically takes 3 to 5 months, depending on market conditions and the complexity of the sale.

For accurate property valuation services, contact our top-rated estate agents in Birmingham today!

How Do I Switch Estate Agents in London?

Switching estate agents in London can be a strategic move if you’re not getting the desired results with your current agent. This guide covers when and how to switch estate agents in London, considerations before making the change, and important steps to follow for a smooth transition. We also answer frequently asked questions about switching estate agents in London.

When Should You Change Estate Agents?

Changing estate agents, especially in a competitive market like London, is a significant decision. It involves risks, but switching from an underperforming agent can have many benefits. Consider changing agents if:

  • Your agents aren’t responsive or don’t communicate as agreed.
  • You haven’t had many (or any) house viewings.
  • Their properties aren’t advertised on online property advertising platforms .

Can You Change Estate Agents in London?

Yes, you can change estate agents in London, but you might be subject to a minimum tie-in period. This is the minimum time your estate agent has to market your house, usually ranging from 4 to 12 weeks. Check your contract for tie-in periods and any fees for early termination.

Considerations Before Switching Estate Agents

Before switching, consider these factors:

  • Fixed Fee Contract: You might have to pay a fee to exit the contract.
  • Sole Agency Agreement: Your agent only gets a fee if they find a buyer.
  • Sole Selling Rights Agreement: You’ll have to pay the fee, no matter what.

Review your contract to understand your position and rights. Speak with a solicitor if you’re confused about your rights.

Why Do You Want to Switch?

Create a list of reasons why you’re unhappy with your current agent and note the positives too. This balanced approach will help you make a rational decision about whether to leave your current agent.

Common Reasons to Switch:

  • Lack of Communication: If your agent doesn’t respond to messages or calls, it’s a sign of poor service.
  • No House Viewings: Consider if it’s due to poor marketing or other factors.
  • Property Not Listed Online: Your agent isn’t doing their job if your property isn’t on major platforms.
  • Pressure to Reduce Asking Price: Ensure you get at least three valuations to set the right price.

How to Change Estate Agents in London

Switching agents can be straightforward if you follow these steps:

  1. Review Your Tie-in Period: Check your contract for the tie-in period.
  2. Give Notice: Many contracts require a minimum notice period.
  3. Create an Agent Shortlist: Compare and contrast terms and conditions.
  4. Interview Agents: Ask questions like, “Why do you think my property hasn’t sold?”
  5. Choose a New Agent: Discuss and establish terms before signing a new contract.

Important Things to Do When Changing Estate Agents

  • Read Your Contract: Understand the tie-in period and potential exit fees.
  • Give Notice: Ensure you follow the correct notice period to avoid breaching the contract.
  • Get Details Passed On: Request details of previous viewers from your old agent.

Will Switching Estate Agents Cost More?

You may need to pay your old agent if you signed a fixed-price sole selling rights agreement. Examine your agreement carefully before switching.

FAQs

Can you get out of an estate agent contract in London?

Yes, you can exit during the cool-off period or in case of a contract breach.

Can you have two estate agents in London?

Yes, but it depends on your agreement. Some agents include exclusivity agreements in their contracts.

How do I give notice to an estate agent in London?

Check your contract for the notice period and give notice in writing via email or letter.

Can I cancel my estate agent contract within 14 days in London?

Yes, many contracts include a 14-day cooling-off period.

Will I have to pay commission to my old agent after switching in London?

You might have to if you signed a sole selling rights agreement.

Can I sell my house privately in London after listing with an estate agent?

No, you must wait for your contract period to end to avoid paying fees.

When is an estate agent in London entitled to commission?

Commission fees are usually due upon conclusion of the sale.

How Much Does a Property Valuation Cost in Leeds?

Understanding the cost of property valuation in Leeds is crucial for anyone looking to buy or sell property. This guide covers who charges for valuations, the different types of valuations and their fees, and important information specific to the Leeds property market. We also provide tips on getting your property valued for free and answer common questions about property valuations in Leeds.

Who Charges for Valuations?

Traditional estate agents in Leeds typically offer free valuations with no obligation to list your home with them. However, fees apply when using chartered surveyors or mortgage lenders. Chartered surveyors in Leeds charge from £250, while mortgage lenders add approximately £150 to other fees for their valuation services.

What Do Valuations Cost the Estate Agent?

Estate agent valuations in Leeds are free, but they incur costs. These include travel expenses, data gathering, and time spent evaluating the property, amounting to about £80-£150.

Types of House Valuations and Fees in Leeds

Property Valuation TypeAverage Cost
Estate Agent ValuationFree
Independent House ValuationFrom £250 to £500, relative to property size
RICS ValuationFrom £400 or over £900 in complex cases
Mortgage ValuationFrom £150, usually increases relative to home value

Online Valuations

Many online house price calculators provide estimates using algorithms. However, they may lack accuracy and not account for recent property developments.

Estate Agent Valuation

An estate agent in Leeds visits your home to give an estimate, which is used to set the asking price. This service is typically free and considers multiple factors.

Independent House Valuation

An independent surveyor or chartered surveyor provides an unbiased valuation, costing upwards of £250.

RICS

The Royal Institution of Chartered Surveyors (RICS) offers detailed surveys contributing to accurate valuations. These surveys are often used during the buying process and may be required for certain schemes like Help to Buy.

Mortgage Valuation

Mortgage lenders require a valuation, often using RICS surveys, to ensure the property is worth the offered amount. This valuation costs from £150.

What’s the Difference Between a Valuation and a Survey?

Valuations determine the worth of a property, while surveys identify structural issues and defects. Surveys are generally required during buying or selling and come with various costs.

How Much Do Surveys Cost?

Survey TypeAverage CostNotes
Condition Report£350Basic level, checks defects and safety issues.
Homebuyer Report£450Detailed, highlights issues for buyers.
Building Survey£750Extensive, for older buildings, checks structure.
Property Valuation Survey£300Official valuation by a chartered surveyor.

Is It Worth Getting a Property Valuation?

Yes, obtaining a property valuation is essential, especially if you’re selling or buying with a mortgage. It helps set realistic expectations and is a requirement for mortgage lenders.

How to Get Your House Valued for Free

To get a free valuation in Leeds:

  • Enquire at both digital and traditional estate agents.
  • Prepare your home for viewing.
  • Research local house prices to set realistic expectations.

FAQs

Is a property valuation free in Leeds?

Most estate agents in Leeds offer free initial valuations. Mortgage company valuations and specific types of valuations do have charges.

What is a valuation fee for?

The fee covers travel costs and the professional’s time to examine the property and gather data.

Will estate agents value houses for free in Leeds?

Yes, estate agents typically offer free valuations to help set the right price and secure clients.

For accurate property valuation services, contact our top-rated estate agents in Leeds today!

Historic Estate Agents in UK Chestertons Now Shares Ownership Title with Swiss Equity Firm Emeria

In the latest property market news, one of UK’s heritage real estate Agents, Chestertons, was acquired by Swiss Private Equity Firm Partners Group, Emeria for a mysteriously generous sum of money! According to experts, the Emeria deal came as a blessing in disguise for the otherwise grappling financial situation, these 200-year-old estate agents in London were facing for a while.

A joint statement released by the now Chestertons-Emeria Group stated, “In a move that will see substantial investment into the expansion of the 200-year old business. Chestertons will now operate within Emeria UK’s ‘Champions’ division”. While the UK real estate market rocks on a bed of sky-touching prices and disruptive mortgage rates, a power move like this by Emeria is believed to change the fate of prime and elite real estate dealings.

However, Chestertons, owned by Mercantile Group since 2005, is looking forward to putting their two decades of struggle to good use with this merger. In the words of now Chairman Mr. Salah Mussa, “In the 19 years since acquiring Chestertons, I have watched the brand grow substantially to resume its place amongst the leading names in residential property. With 2023 set to be a record year for the business, it demonstrates how we have transformed from a struggling small agency into a thriving, resilient business.”

With 30 already operational offices and a dream of further expanding their wings within the UK, this historic Estate Agents in London signed off a hushed deal of £100 million, as per The Financial Times. While this UK-based merger dropped jaws across town, rest assured Chesterton’s non-UK offices spanning 12 locations including Greece, Spain, Morocco, and the United Arab Emirates will remain under Mercantile Group’s ownership.

In related news, the Chestertons-Emeria collaboration news followed suit right after a series of blockbuster mergers from the real estate industry. Notable takeovers include US property moguls CoStar Group, who acquired prominent property portal OnTheMarket for £99 million. Dating just a year back, online estate giant Purplebricks was acquired by Rival Strike for just £1 million. In the words of CoStar “attractive strategic entry point into the UK residential property market”.

What Does an Estate Agent Do?

The real estate market is a multibillion-pound industry and involves the renting, buying, and selling of properties, homes & houses. It is a very competitive market. The real estate agent is the point of contact between the buyer and the seller. They guide both parties and make sure that the transaction is smooth and profitable for both ends.

This article will look at the different tasks and responsibilities of a real estate agent job and how they can help you.

Real Estate Broker vs. Real Estate Agent

Real estate agents and real estate brokers are licensed to facilitate real estate transactions. While they must take the same licensing exam, they perform different roles in the buying and selling of property.

One way to differentiate between a real estate agent and a broker is by expertise. In general, a broker has more education and training than an agent. Brokers are best equipped to handle complex transactions and receive higher compensation for the work that they do.

Real Estate Broker:

A real estate broker or realtor is a person who represents sellers & buyers of real estate, houses or property, a perfect example is Newry Property Sales. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions.

Real Estate Agent:

A real estate agent is an individual who has completed all of the requirements to qualify for a real estate license, which typically includes taking a number of courses in real estate law and practice. Under the supervision of a licensed broker, the agent may assist in negotiating the sale or lease of property on behalf of their clients. The agent may also show properties that are listed with other brokers or agents.

First Step to Buying a House Includes: Meetings and Tours

As an independent contractor, a real estate agent has to be great at time management and skillfully handling many tasks simultaneously. Real estate agents who are successful at their jobs tend to be extremely organized while being able to deal with the unexpected. Most real estate agents work alone, so they need to know how to do everything that’s involved in running a business, from writing blog posts and marketing their services to updating their database of clients and staying on top of their own finances.

Estate agents need to have strong written and verbal communication skills—especially when dealing with difficult situations—and should be able to negotiate with confidence.

They must also build a network of other professionals in the industry and beyond: mortgage lenders, building contractors, home inspectors, attorneys, architects, cleaning services—you name it!

Preparing and Listing the Property

  • Prepare the home for showings
  • Show the home to prospective buyers
  • Handle negotiations with buyers
  • Advise clients on market conditions
  • Make sure all paperwork is filled out correctly

Preparing and listing the property is the core task of any real estate agent. The agent will ask for a listing agreement from the seller. This is a legally binding contract between the seller and the agent that clearly states what services the agent will provide, how long they will try to sell your property and at what price.

After you sign this document, the agent will take pictures of your property to include in their marketing materials and on their website. They may also walk through your property with you to make suggestions about how to prepare it for sale by advising on topics such as decluttering and getting rid of old furniture or outdated wallpaper or paint colours.

Once all this is done, the agent will write up a description of your property that includes information such as its location, the price that you are asking, unique selling points (such as new windows or an updated kitchen) and local amenities (such as nearness to public transportation or schools).

Estate Agents Handle Property Lease & Sales

  • Real estate agents work for brokers
  • Must be qualified & have a valid license 
  • They work with both home buyers and sellers
  • Overall real estate agents act as a fiduciary

Estate agents are the professionals you call when you’re thinking about buying, selling or renting a house. They have all the answers to your questions about real estate. No one could possibly understand best about your needs than an expert with a degree in real estate who can negotiate for you and offer up advice on how to get what you want in a property transaction.

Estate Agents’ Salary in UK:

Depending on the location, real estate agents are typically paid by commission. This means their salary is determined largely by how many sales they close. A real estate agent in Newry, Northern Ireland stated the average annual salary for estate agent in UK & Northern Ireland is around £30,500.

Where in the USA the average is around £60,000 plus commission

Real estate commissions are vary from 5 to 20 percent of the house sale price, depending on location

  • This is negotiable for the seller
  • The commission is split between the listing agent and the selling agent
  • Sometime the selling agent’s share is typically 50% of the commission

The commission is usually a percentage of the selling price of a property and is negotiable. Typically, it’s 15 to 20 per cent of the sales price, but this number can vary depending on where you’re selling.

The listing agent and selling agent each get half of the total commission, but the selling agent’s share is often greater than 50% because he or she does most of the work.

Once a House is on the Market for Sale or Rent

The role of estate agents in working with sellers

  • Meeting with and understanding the needs of sellers when listing new properties.
  • Prove your ability to market, negotiate, and demonstrate your market knowledge.
  • Establish an asking price based on an analysis of the current local market and comparable properties.
  • Provide the property with relevant listing services.
  • To prepare a listing presentation and advertising collateral, take photos of the property, including the interior and exterior.
  • When you conduct open houses, stage the home properly to make it look perfect.

The Role of Estate Agents with Buyers

  • Meeting, interviewing, understanding, and qualifying prospective buyers.
  • Look up potential properties that match the needs of your clients on listing services.
  • Set up showing appointments for prospective buyers based on their schedules.
  • Show buyers properties and explain details you learned during research or when talking to other real estate experts (home inspectors, appraisers, etc.).
  • Demonstrate negotiation skillset and  them know details about the property you learned from your research or from

Conclusion:-

Estate agents are all about helping their clients find the place that is most suitable for them. Whether they specialize in buying, selling, or renting, real estate agents serve a critical purpose within the last step of the real estate process.

How To Find The Right Estate Agent in Edinburgh?

House hunting is anything but easy. Whether you’re looking for some temporary renting possibilities or dreaming of settling down on your favorite property in Edinburgh- cracking the real estate market is no bed of roses. But that doesn’t mean you have to settle for sub par living accommodations; especially when you have top-notch estate agents in Edinburgh right at your disposal.

If you’re in the market for a new home and you’re not sure how to land the perfect estate agent, we have a few tips for you to consider.  It’s important to find the right estate agent to help you through the process. But there are possibly a hundred estate agents out there; how can you possibly decide who’s the best for you and where will you find them?

We can help you with that-

Meet Top 10 Property Agents

Gone are the days when you had to physically run around from place to place, searching for the right estate agent. We understand how difficult and taxing the house hunting process can be; and that’s why have created a ready directory listing all the cream Edinburgh letting agents. All you have to do is visit our official page and browse through our index of estate agents. When you find the one you like, simply connect with them and take your house hunting process forward.

Your To-Do List Before you Select Your Estate Agent

Do your research

The first step is to do some research on the different estate agents in your area. Find out about school districts, safety of a particular place, rising costs in and around the city, and more. Usually, online reviews are the best place to start. If you’re not sure where to begin, your estate agent can also be of massive help to you.

Meet the agents

Once you’ve narrowed it down to a few agents, it’s time to meet them in person. This will give you a chance to see if you feel comfortable working with them and to ask any questions you may have.

Ask around

Before you sign anything, it’s important to ask around for referrals. Friends and family are a great place to start, and you can also check online review sites like Trust Pilot to see what other people have had to say.

Get a quote

Before you commit to an agent, be sure to get a quote for their services. This will give you a crystal clear idea of the type of budget you want to invest, along with additional ideas like the market rate, cost of additional services. In fact, this can also help you identify hidden costs and if they are being levied or not.

Now that you have a fair idea of where and how to begin, start with your research right away and when you’re sure about moving to Edinburgh, visit our Top 10 Property Agents website to connect with the best letting agents in Edinburgh.

The Ultimate Checklist for Staging Homes by Top 10 Property Agents UK

Wouldn’t it be nice if you walked into what could potentially be your next home and saw the interiors in pristine condition?

According to a recent study, that’s exactly what 80% home buyers look for- a beautifully maintained home ready to make more memories.

That’s one of the top reasons why Estate Agents in Leeds believe a staged home is the key to happiness, for both the buyers and the sellers.

If you’re wondering how to get started, we have a shopping list ready for you right here.

Put Yourself In Your Buyer’s Shoe

The first thing estate agents want you to do when you’re selling your home is to walk around your space and figure out what might appeal to the buyers.

This is simply the planning phase where you can conceptualize or visualize all the ways you can make your home more snug and comfortable.

De-clutter and Decorate

A messy home will always drive away potential buyers. I mean, would you want to walk into a disheveled room and think of buying the place?

Before you wave goodbye to your old home, make sure you have organized and decluttered your space so that it looks more spacious and clean.

In fact, adding a touch of personalization like old family photos can actually add up to the emotional quotient of the home.

Decide on First Impression Makers

When we asked our estate agents in Leeds what makes a home sell, they said highlighting the best feature of the house and promoting it throughout.

It could be the crystal clear pool or the beautiful garden out front. Something as trivial as decorating your front porch or adding some fun elements to your living room could add up to the aesthetic value of the property making your home a stunner at the first sight.

Don’t Forget the Bathroom

Home buyers are looking for a safe haven they can call home and that means paying extra attention to the kitchen and the bathroom area.

While you’re de-cluttering your bedroom and drawing room, don’t forget to the tiles and grout in the bathroom and kitchen floors.

Removing old stains and keeping your kitchen and bathroom squeaky clean will definitely add a few brownie points to your home.

Make Your Home Memorable to Your Buyers

Sure, home buyers go through at least 2-3 properties in a day, based on how proactively they are looking.

At the end of the day, they’d probably just sit down and choose from the list they’ve visited and shortlist the ones that made an impact. This brings us to the question- how did your home make an impact? Even with nice interiors and an outstanding curb appeal, what sticks is the aura of the home.

It could be anything from the incandescent lighting in the backyard to the smell of cookies baking in the kitchen, from scented candles in the bathroom to contrasting curtains against the cream bedroom walls- appeal to their senses is the trick.

Although these pointers are mostly for residential homes, commercial agents in Leeds swear by the same when it comes to commercial properties.

If you’re not sure how to go about this alone, we have a ready directory of acclaimed estate agents in UK, prepared to walk you through this big sell.

Simply visit our official website and choose from our list of top-notch estate agents in UK and connect with the one you feel like.