Myths of Low Cost Estate Agents

Published by on

Cameron Stephen and Co. solicitors and estate agents in Edinburgh debunk the myths of low cost estate agents.

There are many different reasons people have for selecting the Solicitor Estate Agent to sell their property.

After all, it is their biggest asset so they want to make sure they put it in the best possible hands. However, cost is also a factor in these. Which is why WE DON’T CHARGE A COMMISSION BASED ESTATE AGENCY FEE – as Our Fixed Price Estate Agency Philosophy explains, we don’t believe you should pay more simply because the value of your property is higher. Here we debunk some of the most common myths in regard to low cost or fixed fee solicitor estate agents.

 

1. Very few low fee Estate Agent offer a conveyancing service but will happily steer you to a firm of solicitors of their choice, where most agents earn a handsome commission for the legal referral. Commissions are very often paid on the onward purchase. By not offering conveyancing low fee agents lose substantial control of the transaction.

We are Solicitor Estate Agents – Members of the ESPC and therefore can do both estate agency and conveyancing for not only the sale of your property but also the purchase of your new property – all your work done under one roof and therefore we retain control of the transactions at all times.

 

2. Low fee agents don’t employ valuers and claim you should rely on the Home Report for a valuation. A professional valuers role is entirely different from a chartered surveyors role. A professional valuer will advise on many different marketing strategies to maximise the selling price of your property. Cutting corners in marketing often results in cutting the price of your property.

We have our own in house Property Manager who carries out each step of the Estate Agency transaction, from initial free pre sale valuation all the way through to the negotiation and acceptance of the offer.

 

3. Many low fee agents tend to heavily promote their low fees rather than offering creative and innovative marketing solutions to help sell your property.

We do not ask our clients to pay for any advertising promoting our Fees – why should our clients pay for advertising us?

 

4. Many online low fee agents operate online and it can sometimes be very difficult to obtain dedicated client support.

We pride ourselves on our dedicated team and the can be found at our office in Leith or at the end of the phone – our phones are answered by a human, there are no irritating automated phone services or call centres where you end up speaking with 5 different people and are still no further forward with arranging that viewing or crucially submitting an offer.

 

5. If a low fee Estate Agent can't protect their own fees, do you honestly believe they will be able to protect the selling price of most people's biggest financial asset: your property?

We absolutely protect our fees, we just don’t believe the value of your property should determine what fees we charge – our fee is always £850 + VAT (unless we have a seasonal promotion) – a traditional Solicitor Estate Agent will charge you a percentage based on the value of your property – therefore if you’re property is valued at £250,000 as a general rule your Solicitor Estate Agent will charge you 1% as an estate agency fee – this equates to £2,500 + VAT – a difference of £1,650. That’s the cost of a reasonably priced holiday for two!

 

6. Basic property schedules with poor quality photographs and some don't even provide hard copy sales brochures. A hard copy sales brochure is absolutely essential to professionally market and present your property. Don't accept the standard excuse - "everyone will only look at your property online".

We use Professional Photographers and Floorplans and all our brochures are also printed professionally – we would never sell a property without hard copy sales brochures. Your biggest asset deserves to be showcased at its best and we make sure your property always looks its absolute best.

 

7. If low fee agents offered the same expertise and commitment as quality respected agents then the quality agents would cease to exist. The reality is traditional Estate Agent do more and ultimately achieve you more.

At Cameron Stephen & Co we have all been involved in the Edinburgh Property Market for more years than we would probably care to mention – our knowledge and expertise is second to none! And you can be assured you transaction is being carried out by professionals.

 

8. Why would a low fee Estate Agent fight your corner to help you achieve even a slightly better price for your property, when they've already been fully paid for their services?

You do not pay for our services until the sale is settled - any costs paid in advance are costs we incur on your behalf – we don’t need incentives to do the best for our clients.

 

No Selling Agent can guarantee they will be able to sell your property for more than any other agent – the sale prices are driven by market – but we ensure you do not accept anything less than you and your property deserve – the absolute best.

 


Cameron Stephen & Co. solicitors and estate agents in Edinburgh also offer a FREE Pre-sale Valuation service. For more details please get in touch on 0131 555 1234.

Follow us on Facebook and Twitter for notifications of new articles like this one.

Tags

Related Articles