Home Residential Property £36,000: the value of the right estate agent

£36,000: the value of the right estate agent

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25th Apr 17 7:54 am

Britain’s top estate agents are netting tens of thousands for home sellers

Data released today by EstateAgent4Mehas shown that appointing the right estate agent can net those selling their home up to £36,000 above their original asking price.

The UK’s best-performing agent, Roy Brooks of East Dulwich, has achieved an average sale almost 6 per cent above asking price over the past six months, netting clients £36,064 on average. Other successful agents have bagged their customers bonuses of over £20,000 compared to their original estimates, showing the value of thoroughly researching and appointing the right seller for your home.

At the other end of the spectrum, however, some agents are having to settle for prices which are dramatically lower than clients expected. Many estate agents who operate in prime Central London areas have had to agree sales at around 10 per cent lower than their original asking price – meaning reductions, in some cases, of more than £700,000.

The findings were compiled using data from EstateAgent4Me, a unique online tool from HomeOwners Alliance which allows homesellers and buyers to check the vital statistics of estate agents in their area. By searching using their postcode, prospective sellers and buyers can investigate local agents’ success rates, sale speeds and how likely an agent is to achieve or exceed their asking prices. 

The five best performing agents in the country (in terms of added value for clients) all hailed from London and the surrounding South East, where property prices have remained buoyant over recent months:

Estate Agent Location Average selling price Average per cent of asking price Average value added
Roy Brooks East Dulwich, London £657,855 105.80 per cent £36,064
Wilson Heal Amersham, Buckinghamshire £695,000 104.30 per cent £28,653
Cockburn Mottingham, London £329,750 109.40 per cent £28,280
Christopher Edwards Pinner, London £358,452 107.90 per cent £26,279
Simmons & Sons Basingstoke £383,746 106.90 per cent £24,856

However, there are agents in all areas of the country which regularly exceed their asking prices and earn their clients thousands. In Bristol, top-rated agents netted homesellers over £12,000 more than their asking price, while in Birmingham the best performers raked in an extra £5,700. (See below for the top-performing agents in major cities across England)

Paula Higgins, CEO of the HomeOwners Alliance, said: “We all know that choosing the right estate agent can have a big impact on the success of a home sale, but few would have predicted the financial difference it can make.An extra £36,000 may well be the difference between securing your dream home or having to make do with your second choice. Alternatively, it could pay your renovation bill once you’ve secured your move.

“When listing your home on the market it may be tempting to instruct the agent which gives you the highest valuation. However, by using the EstateAgent4Me tool, sellers can find out which agents are prone to over-valuing properties and which are successful in achieving or exceeding their asking price.” 

The top-rated agents across England’s largest cities are as follows:

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