Questions to ask an estate agent?
Answer:
You need to ask him what his percentages are - whether or not this is a 'no sale-no fee' arrangement.
Some Agents offer varying rates dependant upon whether or not they have 'sole' agency rights and there may be a time restriction placed on this before you may offer it to other agents.
Find out how much coverage (advertising) you can expect him to make on your behalf, and whether or not this restricted to local or national mediums.
It may cost more to go with a 'chain' of Agents (like FPD Savilles / Bairstow Eves) but they will give you a much broader cients base than many 'one-branch' locally restricted agents can, and will reach a much wider audience, thus maximizing the potential for a more lucrative sale
Good luck x
What specialist magazines / websites would they advertise in/on. You need to get out of the residential sales market .
Ask what budget they would assign to your property.
Ask how they arrive at the valuation for your B&B, they should know about commercial returns/business value as well as the residential portion.
wha t is the time between up "for sale" and "sold"?
what percentage of "for sale" become "sold".
what is his fee's ,how does he advertise the B&B does he have a web site .
nothing much really he will come in look about and give you an estimated value and then if you want to go ahead you sign a contract .
Actually maybe unsure don't they get sold differently over there/ remember watching a program bids get sent into the soclititor and highest bid on certain day wins isn't that the way it goes?
Ask him/her if they are honest. If the reply is "yes" then get another estate agent.
Ask them if they have sold any other B and B's and what price they got.
How long are you tied in to the contract
How many other properties do they have on the market
Where do they advertise
What do they charge as fees
How long does it take them to sell the average property
What would they value the property at and why
Best question to ask an estate agents is how he is going to keep the price high!. Vary his percentage based on the price he sells it for.
(also ask him where his customer are ocming from e.g. UK wide, or does he belong to organisation like Rightmove),.
value of the property, his commission and how quickly he can sell it.
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