Estate Agency: Avoid hidden costs

Estate Agents, gyms and low-cost airlines are among businesses that could be taken to court under proposals recommending law reform. The Scottish Law Commission and other bodies have said British courts should be empowered to scrutinise the fairness of costs tucked away in small print.   Regrettably, Edinburgh has recently seen the emergence of a few companies promoting cut-price fees which appear just too good to be true.  This new trend is extremely surprising given Agents in other parts of the UK have been raising their fees due to the additional legwork now required in these tougher market conditions caused by economic difficulties.

Estate Agents are definitely not 'all the same' and buying a cheap poor service standard could end costing a substantial amount more at the end due to unforeseen additional costs and,  more importantly, by poor negotiating skills in the handling of your most important financial asset. A proven professional with a strong work ethic prepared to go the extra mile for their client will more than earn the accepted standard commissions fee.

TIPS

1. Compare written fee quotes carefully making sure each are considered on a like-for-like basis

2. Scrutinise charges relating to additional brochure production, phone calls etc

3. Factor in any extra costs for advertising, photography and administration fees

4. Check costs quoted for advertising in the ESPC (currently an across the board registration fee of £325.20 for Edinburgh properties up to £500,000)

5. Check the style of brochures to be used which should be specific to your property and include the asking price, individual features, floor plan and exact benefits of its location

6. Beware of flat-fee commissions payable upfront which might tie you in to an unsatisfactory service

7. Charges for Home Reports (ensure only approved surveyors are used and include a Mortgage Valuation in the pack)

8. Check functionality and quality of their web site

Drummond Miller promotes a culture of integrity and we do not seek to deceive clients so simply charge a fair and reasonable price for an excellent service.  Our very experienced and hard working sales staff have a good knowledge of the properties and are totally focused on achieving sales. There is an art in ensuring every property is seen and in the best light and managing stock levels carefully will avoid problems excessive overloading causes. Our aim is to be better than our competitors and we happily make ourselves directly available to clients.  Invaluable feed back and honest advice will be provided whilst our in-house solicitors are constantly on hand for more in-depth legal advice.

We would be delighted to discuss all aspects of property marketing including:

1. Pre-sale valuation and presentation advice

2. Tailored marketing strategies

3. Property acquisition/search

4. Professional showing services

5. Advice on Home Report providers

6. Time scales

Telephone 0131 229 3399 (0759 58 20611 outwith office hours)