Looking to sell (The Sellers Guide)

It’s a well known fact that moving home is one of the most stressful events of our lives. Instructing the right estate agent is not only essential to maximise your sale price but will also enhance your moving experience.

To ensure that we achieve the best possible price for your property we utilise one of the most effective marketing campaigns in the industry. We currently advertise every week in the Wharf newspaper, every week in the Recorder, fortnightly in the Property Mart and quarterly in The Property Guide. All our adverts are striking, double page spreads and stand out from the competition.

Due to the nature of our client’s working day, they tend to search for their property using the internet. In fact, 82% of our successful leads came from the internet (DSP internal research). In response to this research, we have extended our internet portal advertising to include: primelocation.com, findaproperty.com, rightmove.com, propertyfinder.com and fish4homes.com. We update all of these sites three times a day from our state of the art software systems.

Using our market research we identified that the biggest single complaint sellers made about their selling agent was the fact that they were not kept properly informed on the progress of their sale. This led to increased stress.

To combat this we ensure that all vendors are contacted whenever there is any progress on their sale. Our dedicated computer software package automatically creates diary entries to update vendors, thus eliminating human error. We never fail to remember that we are employed by you and aim to provide the best possible service.

Our sales teams are affiliated to the National Association of Estate Agents (NAEA) and the Ombudsman for Estate Agents (OEA). Therefore they are kept up to date on all up coming legislations.

Our sales teams have a vast and long standing knowledge of their market place and therefore can confidently advise buyers on the properties they are marketing.

The new Home Information Packs (HIPs) legislation maybe introduced essentially to speed up the house buying/selling process. The information contained within the pack is to provide the buyer with the preliminary paperwork that their lawyer would apply for once the transaction commences. Also included in the pack is an Energy Efficiency Report (EER) that will illustrate the energy rating of the property and the potential energy rating once recommended changes have been implemented.

The HIP may need to be in place and ready to hand out at the time the property marketing commences. There are various types of HIP that vary from the basic, that cover the legal requirements and the more comprehensive that are more likely to expedite the sale. Our recommendation is that you fulfill your legal responsibility with the basic HIP and leave the rest to the buyer’s lawyers.

Landmark Property Services will be happy to accept a HIP provided by you only if:

• It has been compiled by a member of the Association of HIP providers.
• The HIP was put together within six months of our marketing launch.
• You are the legal owner of the HIP and give us written authorisation to act as agent for it.

If you don’t have your own HIP, Landmark Property Services will be happy to provide you with one. We constantly monitor the level of service provided by our HIP Company and therefore reserve the right to change our supplier.

The HIP price and payment terms we offer vary tremendously and as such, our sales teams will be happy to provide you with the current information in writing.

Basic Principals of Residential Estate Agency

In order to maintain a high level of service to our customers and ensure compliance with certain legal requirements, Landmark Property Services are members of the NAEA and OEA scheme.

The following quote is from David Quayle of the OEA setting out the basic principles which govern the transfer of ownership of residential property in England.

• “Firstly, an Estate Agent’s primary responsibility remains at all times to their Vendor Client (the seller), while retaining a duty of care and fair treatment to all prospective Buyers.
• Secondly, the Estate Agent holds a legal obligation to forward all offers received for a property to their vendor client, unless they are of an amount or type that which the latter has specifically instructed the Estate Agent in writing not to accept.
• Thirdly, following acceptance of an offer Subject to Contract either party (e.g. Seller or Buyer) can renegotiate either the price or any conditions of the agreed sale, or indeed withdraw without penalty – until such time as Exchange of contracts has taken place.
• Fourthly, it is always the Seller’s decision, and not that of the Estate Agent involved, to whom and at what price a property should be sold. Mortgagees in Possession have a legal obligation to obtain the best price available for a repossessed property, but are allowed latitude in this respect through taking into consideration each individual offeror’s ability to substantiate his/her own offer and willingness to proceed quickly to Exchange of Contracts.”

Guide to Selling - frequently asked questions

HOW MUCH DO YOU CHARGE?

Our standard sales rate is 3% plus VAT. However, we are happy to reduce this fee considerably if we are appointed as the sole selling agent. Our sole agency rates are dependant on a number of factors, our Sales Managers will be happy to discuss this further.

HOW LONG WILL IT TAKE TO SELL MY PROPERTY?

The office record is 24 minutes from the point of instruction to securing an offer. While we cannot guarantee this speed for every vendor, it will give you an idea of how quickly things can move. The average time that a property is on the market is around 4 weeks, but this is only an estimate as some properties sell quicker then others.

WHAT REGULATORY BODIES DO YOU BELONG TO?

We are members of the Association of National Estate Agents (NAEA), the Association of Residential Letting Agents (ARLA) and the Ombudsman for Estate Agents (OEA). Unfortunately there is currently no legislation regarding the licensing of estate agents, so you are advised to thoroughly investigate whichever estate agent you choose to instruct. We are happy to provide names of clients who are prepared to give us a reference.

HOW CAN I BE SURE OF ACHIEVING THE BEST PRICE?

In our opinion, we run the most extensive advertising and marketing campaigns in our respective office areas. As we are one of the most prolific agents in the East London area, our valuations are based very much on fact, not fiction.

WHAT ARE HIPs?

Home Information Packs (HIPs) maybe first introduced to speed up the house buying process. As a seller, you may soon be obliged to provide information to the buyer at the time they are introduced to the property. As a company, Landmark Property Services are happy to recommend a HIP provider to you and in some cases are happy to agree finance terms with you. Please speak to our Sales Managers for further information on these. For more comprehensive information on HIPs, please click on the following link: www.homeinformationpacks.gov.uk