Should You Use More Than One Agent To Sell Your Property?
This is a question often asked and can have multiple answers.
As a rule of thumb to start with using just one agent is recommended. The main reasons being:
- Creates the wrong impression - When you have a property on the market with more than one agent the property can look desperate. This will more than likely end up with lower offers.
- Buyers using the agents - This is an important reason, a buyer can use the agents against each other and may sway the agents into persuading the vendor to accept an lower offer to stop the other agent getting the sale.
- Pool of buyers - Using multiple agents wont necessarily get your property out to a larger market. Buyers are not loyal to agents, and that most agents are in essence tapping into the same pool of buyers.
- Double commission - Buyers may have seen the property with one agent, but then may put an offer in with a different agent. The agent who introduced the buyer to the property initially has just as much right to claim full commission on the sale of the property as the agent who took the offer that was accepted by the seller. Therefore the seller could be left in a situation where they are legally obliged to pay two agents full commission on the sale of their property, which can be exceptionally costly and means the seller walks away from the sale with less.
It would be recommended to get one agent to start. If the property hasn't sold after 9 - 12 weeks speak to the agent to see what they can do to achieve the sale. There may be some things you can both work on. If you feel the agent isn't working hard enough for you, or is clueless on how to proceed without any plan B then suggest you change agents.