When Taking a Property Onto the Market: Key Steps for Estate Agents

When taking a property onto the market, it's standard practice for estate agents to schedule a follow-up appointment to kick off the marketing process. This follow-up might happen the next day or several weeks later, depending on any preparatory work needed on the property. However, my advice is to maximise your efforts during the initial visit.

Picture this: you've just completed a market appraisal, and the homeowner is ready to sell their home with you. Would you simply leave and plan to return in a few days? You could, but this approach risks losing the business to a competitor who might swoop in and sign them up first. Instead, aim to accomplish as much as possible during that first visit. This could involve getting your terms and conditions signed or even creating a floor plan. The more you achieve initially, the lower the chance of losing the client.

Consider another scenario: the homeowners agree to sell with you but need to finish some decorating first. One option is to call them weekly to check progress. A better approach is to inform them you'll handle all tasks that won't be affected by the decorating, like signing compliance paperwork, producing floorplans, and writing the property description. Once the decorating is done, you'll only need to take photos, streamlining the process and solidifying your relationship with the owner.

Let's dive into some specific tasks you should focus on during these appointments, starting with compliance. Compliance might not be exciting, but it's crucial. As estate agents in the UK, you are the first line of defence against financial crimes like money laundering. While this blog isn't a comprehensive compliance guide, always consult with a specialised compliance company if you're unsure about the rules.

To get started, you need to verify the identity of the person selling the property and confirm they have the right to sell it. This involves checking photographic ID, such as a passport or driving licence, for all legal owners. If they lack these, other documents can suffice. Additionally, verify ownership through documents like land registry records, mortgage statements, or property deeds. Ensure you store these securely in your CRM system to avoid any mishaps.

Next, focus on getting your terms and conditions signed by the homeowner. This document is vital as it outlines your responsibilities and fees, and it ties the homeowner to selling with you. Ensure all legal owners sign it to avoid any misunderstandings. Many agents use online signing platforms to streamline this process, but if you're using paper, promptly upload a copy to your CRM.

Another critical document is the property information form (PIF). This form, completed by the homeowner before the property goes on the market, gathers essential information about the home. It helps you answer common questions buyers might have, like the age of the boiler or whether the loft is boarded. Being knowledgeable about these details enhances the buyer's experience and boosts your credibility as an estate agent.

Moreover, the PIF can protect you from potential issues down the line. For instance, if a survey reveals problems like Japanese knotweed, having a signed PIF showing the homeowner disclosed all known issues can save you from disputes. It ensures transparency and safeguards your reputation.

In summary, by maximising your efforts during the initial appointment and handling key tasks upfront, you not only make the process smoother for the homeowner but also secure your position as their chosen estate agent. Compliance, thorough documentation, and efficient workflows are your best allies in delivering excellent service and closing successful deals.