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The Financial Times Asks:  Should we Love Estate Agents?

The Financial Times Asks: Should we Love Estate Agents?

7th December 2015

A recent article published by the Financial Times asked this question: Should the public learn to love estate agents?  Sibley Pares Residential would like our customers to want to agree with its author, Ed Mead, who thinks the answer is yes!  Mead, who writes for the Financial Times and is the executive director of London based estate agents Douglas & Gordon, says that all too often people blame estate agents in the same way that they shoot the messenger.

There is a misconception that the Estate Agent stops working once an offer has been accepted; however, this is not the case. There could be for a number of reasons to pull out of the sale/purchase, which, the article states are rarely the fault of the agent and commonly include:  the process being too slow, the buyer finds a property they prefer, the seller decides not to sell or the survey reveals unforeseen problems.  The seller can accept a better offer, however unethical this might seem.  Legally ‘under offer’ does not mean sold!   Anyone, whether buyer or seller, can pull out until contracts have exchanged. The government refusing to further regulate the system means that the weak links in the process, such as this, remain.

The consequence: all too often, the Estate Agents unfairly takes the blame. So why should you love your estate agent?  Mead argues that there is one very good reason namely “very few property dreams come true without one.” As in fact good Estate Agents, like the Sibley Pares Residential team, work to help realise people’s goals; to achieve the best possible price and to enable people to move towards their dream home. The Estate Agent papers over the cracks of this country’s imperfect property buying system with knowledge and understanding.

As the article states, contrary to popular conception, the marketing of your property forms only 20% of the work an agent does.  Much more of their time is spent contacting buyers, showcasing the property, following up on viewings, negotiating the best price for your home, chasing up the buyer, seller, solicitors etc. until the final paperwork is signed, starting a new chapter in the history of your home and life.

The team at Sibley Pares Residential work hard like this to secure a sale. Diane Broomham, Residential Manager explains: “we all understand how stressful the whole process can be, we are dealing with homes, lives, dreams and most people’s largest asset!  So much is invested in the sale.  The professional approach of the team contributes to making the process as easy as possible.  I agree with the article that it is not simply a case of preparing details and advertising your property, we are there for you throughout. Accepted it’s our job, but we are genuinely pleased and excited if we have made a real difference to our clients and their buyers”.  

So whilst Mr Mead thinks we should learn to love estate agents, the team at Sibley Pares Residential would not arrogantly demand this of our clients, but we certainly hope that professional firms like ours can over throw the poor reputation and stigma of residential estate agents. We want our clients to see that we are passionate in offering a service and appreciate that this leads to successful outcomes which add value and save heartache and wasted money!  To love us yes, but only when we have earned your respect.