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

Britain’s top estate agents are netting tens of thousands for home sellers, research finds. We take a closer look at how to choose the right estate agent for you.

April 28, 2017

right estate agent

Key findings: 

  • EstateAgent4Me figures show the best estate agents can achieve an average of £36,000 over their asking price
  • The most successful agents in Britain and major cities revealed
  • Despite cooling property market, some estate agents are achieving prices almost 10% above asking prices

Data released by EstateAgent4Me has 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% 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% 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 % of asking price Average value added
Roy Brooks East Dulwich, London £657,855 105.80% £36,064
Wilson Heal Amersham, Buckinghamshire £695,000 104.30% £28,653
Cockburn Mottingham, London £329,750 109.40% £28,280
Christopher Edwards Pinner, London £358,452 107.90% £26,279
Simmons & Sons Basingstoke £383,746 106.90% £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, Chief Executive 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:

 

Birmingham

Estate Agent Location Average selling price Average % of asking price Average value added
Wolfs Harborne £192,450 103.1% £5,787
Shakespeare’s Hall Green £230,000 101.2% £2,727
Evans Kings Norton £137,500 101.7% £2,300

 



Bristol

Estate Agent Location Average selling price Average % of asking price Average value added
Andrews Bristol £250,000 105.2% £12,357
Elephant Bishopston £399,950 102.6% £9,986
Hollis Morgan Clifton £237,750 103.8% £8,708

 



Coventry

Estate Agent Location Average selling price Average % of asking price Average value added
Loveitts Coventry £149,659 101.1% £1,610
Shortland Horne Walsgrave Rd, Coventry £150,000 100.9% £1,365
Whitegates Coventry £125,000 100.9% £1,115

 



Leeds

Estate Agent Location Average selling price Average % of asking price Average value added
Preston Baker Roundhay Rd, Leeds £245,000 101.7% £4,095
William H Brown Headingley £159,714 100.7% £1,120
Linley & Simpson Horsforth £162,881 100.1% £168

 



Liverpool

Estate Agent Location Average selling price Average % of asking price Average value added
Venmore Liverpool £73,986 106.8% £4,711
Sutton Kersh Cotton Street, Liverpool £45,000 110.6% £4,296

 



Manchester

Estate Agent Location Average selling price Average % of asking price Average value added
Harrisons Urmston £220,000 101.3% £2,823
Thornley Groves Manchester £166,119 101.3% £2,103
Springbok Manchester £108,250 102.45% £2,587

 



Newcastle

Estate Agent Location Average selling price Average % of asking price Average value added
Pattinson Chillingham Rd, Newcastle £109,967 103.5% £3,733
Bailey & Co Jesmond £239,409 100.9% £2,360

 


 

Felicity Blair of Roy Brooks Estate Agents says: “It’s great when an independent body affirms that you are doing a good job, and this news from HOA is exceptionally rewarding. Thank you for providing a tool to help sellers identify agents that are most accurately determining values, as we believe this is key to a successful sale.”

Alec Jupp of Elephant Estate Agents says: “We are very pleased to be recognised as a top performing agent by the HomeOwners Alliance in what is a very competitive market place.”

Andrew Morgan of Hollis Morgan Estate Agents says: “As an independent firm of estate agents and auctioneers we are able and, indeed, dedicated to being true agents for our clients – our whole team takes pride in guiding them professionally and emotionally through the whole process of selling to achieve the best possible price whatever difficulties need to be overcome. We quite simply take pride in doing a great job and becoming long term friends with our many satisfied clients.”

 

To find out more about estate agents in your area, use our estateagent4me tool. For more information on selling your home, take a look at our advice pages.

 


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