Joint Agency or Double Trouble?
Last week we placed a prestigious property onto the market in a coordinated effort to achieve the very best price possible. Both ourselves and another Estate Agent met the client independently before sharing information in a considered meeting. We had contrasting opinions to the other agent about a few different aspects of the potential sale but the vendor, prior to the instruction had heard both viewpoints and wanted maximum exposure. Sometimes, if Estate Agents work together honestly, the client can benefit from a “Joint Agency” instruction. The problem is not many do because not many Estate Agents work well together.
This is very much a contrasting story to other “Multiple Agency” experiences we have witnessed. Thankfully due to our speed of sale, we have not seen others agent instructed after ourselves, but we have begun marketing at the tail end of another’s agency period and this has led to complications for our sellers.
Despite instructions from their clients to the contrary, these Agents have not removed the properties from their own websites, Rightmove or shop windows. The result of these practices in Coventry are that “Multiple Agency” simply confuses potential buyers and leads to unsympathetic and reduced offers at best. At worst the buyers look elsewhere entirely. What the client should remember is that if their home has been on the market without offers then something is wrong. When this is the case, a fresh pair of eyes and ears can be the start of a successful new beginning rather than a prolonged sense of disappointment.
Continuing to employ the Agent who hasn’t achieved what they promised to achieve really does does not solve anything. Thankfully the quality of our brochures, photography and I.T systems have allowed us to continue our number one ranking for Speed of Sale and Click Through rates during these “multiple agency” excursions and have seen properties that have sat unloved for many months sell for asking prices after multiple viewings.