24EstateAgents information guide
The International Guide to Choosing and Working With Estate Agents
How to Select the Right Agent, Understand Their Role and Get Better Results When Buying, Selling or Letting Property
A good estate agent can save time, reduce risk and materially improve the outcome of a property transaction.
A poor one can:
* misprice a property;
* lose momentum;
* communicate badly;
* introduce weak buyers;
* create unrealistic expectations;
* mishandle negotiations;
* and make an already stressful process harder.
The challenge is that estate agency works differently around the world.
In some countries:
* one agent may represent the seller.
In others:
* buyers regularly appoint their own agents.
Some markets use:
* exclusive agency agreements.
Others rely heavily on:
* multiple listing systems;
* developer sales networks;
* portals;
* introducers;
* and independent brokers.
Commission structures, licensing, disclosure requirements and legal responsibilities can all vary by jurisdiction.
So rather than asking:
**“Which agent has the biggest office?”**
ask:
**“Which agent is best equipped to achieve my objective in this particular market?”**
Guide Index
- PART ONE — FIRST DEFINE WHAT YOU NEED THE AGENT TO DO
- SELLING A PROPERTY
- BUYING A PROPERTY
- LETTING A PROPERTY
- INVESTMENT PROPERTY
- LUXURY PROPERTY
- NEW DEVELOPMENTS
- PART TWO — UNDERSTAND THE DIFFERENT AGENCY MODELS
- Multiple Agency
- Exclusive Rights
- Open Listing
- Buyer Representation
- Dual Agency
- Developer Agency
- PART THREE — HOW TO SHORTLIST AN AGENT
- Relevant Local Experience
- Relevant Property Experience
- Recent Transactions
- Buyer Database
- International Reach
- Communication
- PART FOUR — THE VALUATION TEST
- Ask for Evidence
- Sold Prices Matter More Than Asking Prices
- Comparable Means Comparable
- Overvaluation Can Damage a Sale
- Underpricing
- Ask the Agent to Defend the Number
- PART FIVE — MARKETING THE PROPERTY
- Photography
- Floor Plans
- Video
- Virtual Tours
- Property Description
- Portals
- Social Media
- Email Marketing
- Signboards
- Private Marketing
- PART SIX — QUALIFYING BUYERS
- Financial Position
- Chain or Dependency
- Motivation
- Viewings
- PART SEVEN — NEGOTIATION
- The Highest Offer Is Not Always the Best Offer
- Do Not Negotiate Against Yourself
- Counteroffers
- Multiple Offers
- Emotional Negotiation
- PART EIGHT — FEES AND COMMISSION
- Cheapest Is Not Always Cheapest
- Ask What Is Included
- Withdrawal Fees
- Marketing Charges
- Referral Fees
- PART NINE — THE AGENCY AGREEMENT
- Term
- Commission Trigger
- Continuing Liability
- Marketing Rights
- Data Use
- PART TEN — BUYING THROUGH AN ESTATE AGENT
- Ask Who the Agent Represents
- Do Your Own Due Diligence
- Verify Important Statements
- “Guaranteed Returns”
- PART ELEVEN — BUYING PROPERTY ABROAD
- Local Market Practice
- Foreign Ownership
- Currency
- Tax
- Local Legal Representation
- Translation
- PART TWELVE — SELLING PROPERTY INTERNATIONALLY
- International Pricing
- Cross-Border Buyers
- PART THIRTEEN — NEW-BUILD AND DEVELOPER SALES
- Show Homes
- CGI
- Build Specification
- Completion Date
- Stage Payments
- Developer Track Record
- PART FOURTEEN — PROPERTY INVESTMENT AGENTS
- Yield
- Occupancy
- Costs
- Exit Market
- PART FIFTEEN — LETTING AND PROPERTY MANAGEMENT
- Tenant Selection
- Rent Collection
- Maintenance
- Inspections
- Emergency Management
- PART SIXTEEN — TECHNOLOGY AND MODERN ESTATE AGENCY
- Portals Create Visibility
- Automated Valuation
- CRM
- AI
- PART SEVENTEEN — WARNING SIGNS
- BEWARE OF FAKE LISTINGS
- Payment Fraud
- Licensing
- PART EIGHTEEN — QUESTIONS TO ASK BEFORE APPOINTING AN AGENT
- PART NINETEEN — QUESTIONS BUYERS SHOULD ASK THE AGENT
- PART TWENTY — THE RIGHT AGENT SHOULD CREATE VALUE
- ESTATE AGENT SELECTION SCORECARD
- Frequently Asked Questions
- PRACTICAL 24ESTATEAGENTS EXAMPLES
- EXAMPLE 1 — SELLING A FAMILY HOME
- EXAMPLE 2 — TWO OFFERS, BUT THE HIGHEST IS NOT NECESSARILY BEST
- EXAMPLE 3 — THE PROPERTY THAT HAS BEEN OVERVALUED
- EXAMPLE 4 — CHOOSING BETWEEN A LARGE BRAND AND A LOCAL INDEPENDENT
- EXAMPLE 5 — BUYING AN OVERSEAS HOLIDAY PROPERTY
- EXAMPLE 6 — THE "8% RENTAL RETURN"
- EXAMPLE 7 — A NEW DEVELOPMENT PURCHASE
- EXAMPLE 8 — THE BUYER WHO THINKS THE AGENT REPRESENTS THEM
- EXAMPLE 9 — SELLING A LUXURY PROPERTY
- EXAMPLE 10 — SELLING AN INVESTMENT PROPERTY WITH A TENANT
- EXAMPLE 11 — THE AGENT WITH 10,000 BUYERS
- EXAMPLE 12 — THE LANDLORD CHOOSING A LETTING AGENT
- EXAMPLE 13 — CHEAP MANAGEMENT THAT BECOMES EXPENSIVE
- EXAMPLE 14 — THE OVERSEAS INVESTOR WHO NEVER VISITS
- EXAMPLE 15 — FOREIGN-CURRENCY RISK
- EXAMPLE 16 — THE AGENT WHO SELLS THE AREA, NOT JUST THE PROPERTY
- EXAMPLE 17 — THE PROPERTY WITH 40 VIEWINGS AND NO OFFER
- EXAMPLE 18 — FEEDBACK THAT ACTUALLY HELPS
- EXAMPLE 19 — THE FALLEN-THROUGH SALE
- EXAMPLE 20 — THE DEVELOPER CHANNEL-PARTNER MODEL
- EXAMPLE 21 — THE SAME DEVELOPMENT FROM MULTIPLE AGENTS
- EXAMPLE 22 — SELLING BEFORE BUYING
- EXAMPLE 23 — A PROPERTY THAT NEEDS RENOVATION
- EXAMPLE 24 — THE AGENT WHO SAYS “I HAVE A BUYER”
- EXAMPLE 25 — WHY FOLLOW-UP MATTERS
- HOW 24ESTATEAGENTS FITS INTO THESE SCENARIOS
- A PRACTICAL EXAMPLE OF THE 24ESTATEAGENTS NETWORK
- A SELLER EXAMPLE
- A BUYER EXAMPLE
- AN AGENT EXAMPLE
- THE PRINCIPLE
- PROPERTY IS LOCAL — BUYERS ARE INCREASINGLY GLOBAL
PART ONE — FIRST DEFINE WHAT YOU NEED THE AGENT TO DO
There is no single “best estate agent”.
The right choice depends on the assignment.
You may need an agent to:
- sell a family home;
- sell an investment property;
- find an overseas property;
- market a development;
- source an off-market opportunity;
- locate a tenant;
- manage a rental;
- advise on pricing;
- negotiate a purchase;
- or handle a portfolio.
Each requires a different skill set.
Back to topSELLING A PROPERTY
A seller normally needs an agent who can:
- price accurately;
- position the property;
- prepare marketing;
- generate enquiries;
- qualify buyers;
- conduct viewings;
- negotiate offers;
- and maintain progress through to completion.
The best salesperson is not necessarily the agent offering the highest valuation.
Back to topBUYING A PROPERTY
In some markets, buyers commonly work directly with selling agents.
In others, a dedicated buyer's agent may:
- search across the market;
- identify suitable properties;
- arrange inspections;
- investigate comparable values;
- negotiate;
- and coordinate local professionals.
Understand who the agent represents.
Back to topLETTING A PROPERTY
A letting agent may provide services such as:
- advertising;
- tenant enquiries;
- viewings;
- referencing;
- deposits;
- tenancy administration;
- rent collection;
- inspections;
- maintenance;
- and property management.
The exact scope should be clearly defined.
Back to topINVESTMENT PROPERTY
Investors need more than attractive photographs.
An investment-focused agent should understand:
- rent;
- occupancy;
- operating expenses;
- local demand;
- resale;
- service charges;
- management;
- and regulatory issues.
A strong residential sales agent may not be a strong investment adviser.
Back to topLUXURY PROPERTY
At higher values, the agent's ability to access qualified buyers may matter more than generating large numbers of enquiries.
Luxury property sales can involve:
- privacy;
- international buyers;
- family offices;
- private introductions;
- relocation;
- and off-market marketing.
NEW DEVELOPMENTS
Developer property requires a different approach.
Agents may work as:
- direct developer representatives;
- external channel partners;
- independent brokers;
- or buyer representatives.
Buyers should understand exactly who is paying the agent and whose interests they represent.
Back to topPART TWO — UNDERSTAND THE DIFFERENT AGENCY MODELS
Sole Agency
A seller appoints one agent for an agreed period.
Potential advantages:
- one accountable agent;
- consistent marketing;
- focused negotiation;
- and straightforward communication.
But the quality of that one appointment matters enormously.
Back to topMultiple Agency
Several agents may be instructed.
This can potentially increase exposure.
It can also create:
- duplicated listings;
- inconsistent pricing;
- poor control;
- and agents competing to close quickly rather than maximise value.
Exclusive Rights
Some agency agreements provide an agent with rights to commission during the agreed period even if the seller finds the buyer independently.
Always read the agreement carefully.
Terminology and legal effect vary by jurisdiction.
Back to topOpen Listing
Some markets allow multiple agents to market a property with commission usually going to the agent responsible for the successful transaction.
This can increase reach but may reduce individual agent commitment.
Back to topBuyer Representation
A buyer may appoint an agent specifically to represent their interests.
This can be particularly useful when:
- buying remotely;
- entering an unfamiliar market;
- searching for specialist property;
- or negotiating complex transactions.
Dual Agency
In some jurisdictions and circumstances, one agent or brokerage may have relationships with both sides of a transaction.
Where permitted, disclosure and consent requirements may apply.
A buyer or seller should understand any potential conflict.
Back to topDeveloper Agency
Agents marketing new developments may receive commission directly from the developer.
That does not necessarily mean the property is unsuitable.
But buyers should understand the commercial relationship.
Back to topPART THREE — HOW TO SHORTLIST AN AGENT
Relevant Local Experience
An agent should understand the immediate market.
Not simply the city.
They should know:
- individual streets;
- developments;
- neighbourhood boundaries;
- school areas;
- transport;
- typical buyers;
- rental demand;
- and current competition.
Relevant Property Experience
An agent who mainly sells small apartments may not be ideal for:
- rural estates;
- commercial investments;
- waterfront homes;
- development land;
- or luxury villas.
Ask what comparable properties they have handled.
Back to topRecent Transactions
Recent evidence is more useful than old reputation.
Ask:
- What have you sold recently?
- At what price level?
- How long did it take?
- How close was the sale price to asking price?
- What happened when a sale became difficult?
Buyer Database
Many agents talk about having a database.
Ask what that actually means.
A database containing thousands of old contacts has little value if few are actively looking.
A useful buyer network is:
- current;
- relevant;
- segmented;
- and engaged.
International Reach
For some properties, international exposure can matter.
This is particularly relevant for:
- luxury property;
- resort markets;
- investment property;
- second homes;
- and internationally mobile buyers.
But international reach should be genuine.
A logo saying “global” does not automatically create buyers.
Back to topCommunication
Evaluate communication before signing.
Ask:
- Who will handle the instruction?
- Who conducts viewings?
- How often will I receive feedback?
- How quickly are enquiries answered?
- Can I contact the senior agent?
The service you experience before signing often predicts what happens afterwards.
Back to topPART FOUR — THE VALUATION TEST
One of the easiest ways for an agent to win an instruction is to quote the highest price.
That does not mean it is the correct price.
Back to topAsk for Evidence
A valuation should be supported by:
- comparable sales;
- current competing listings;
- market conditions;
- property condition;
- location;
- size;
- and demand.
Sold Prices Matter More Than Asking Prices
A competing owner may ask any price they want.
That does not establish market value.
Where reliable data is available, actual completed transactions are usually more informative.
Back to topComparable Means Comparable
A property on the same street is not necessarily a meaningful comparison if it differs substantially in:
- size;
- condition;
- view;
- floor;
- garden;
- parking;
- lease;
- amenities;
- or specification.
Overvaluation Can Damage a Sale
A property launched too high may:
- generate little interest;
- remain online too long;
- require repeated reductions;
- and become perceived as stale.
The eventual sale price can sometimes be lower than if it had entered the market correctly.
Back to topUnderpricing
Deliberate underpricing strategies are used in some markets to create competition.
That may be appropriate in certain circumstances.
But the seller should understand the strategy before agreeing to it.
Back to topAsk the Agent to Defend the Number
PART FIVE — MARKETING THE PROPERTY
Good property marketing has one purpose:
to make the right buyer want to know more.
It is not simply a collection of photographs.
Back to topPhotography
Images should accurately show:
- space;
- condition;
- light;
- layout;
- and key selling points.
Over-editing can damage trust when the buyer arrives.
Back to topFloor Plans
Where commonly used and legally appropriate, floor plans help buyers understand:
- flow;
- room relationships;
- access;
- and usable space.
Video
Video can be particularly useful for:
- larger homes;
- overseas buyers;
- luxury properties;
- resort property;
- and unusual layouts.
Virtual Tours
Virtual tours can help filter serious buyers before physical viewings.
But they should complement rather than hide the property.
Back to topProperty Description
A good description should explain:
- what the property is;
- where it is;
- who it may suit;
- important features;
- and practical information.
Avoid meaningless superlatives.
Back to topPortals
Online property portals are important in many markets.
Ask which platforms the agent uses and why.
More portals do not automatically mean better marketing.
The right audience matters.
Back to topSocial Media
Social channels can help create:
- awareness;
- targeted exposure;
- video reach;
- and local engagement.
But social media impressions are not the same as qualified buyers.
Back to topEmail Marketing
A properly segmented email audience can be highly effective.
The key word is:
segmented.
A buyer looking for a two-bedroom apartment does not need every seven-bedroom villa sent to them.
Back to topSignboards
Physical signage remains effective in many locations.
It can generate:
- local buyers;
- neighbours;
- investors;
- and word-of-mouth enquiries.
Rules vary by location.
Back to topPrivate Marketing
Some sellers prefer:
- discreet marketing;
- selected agents;
- direct approaches;
- or off-market introductions.
Privacy can be valuable, but reduced exposure may also reduce competition.
Back to topPART SIX — QUALIFYING BUYERS
Not every enquiry is a buyer.
A good agent distinguishes between:
- interest;
- intent;
- and ability to transact.
Financial Position
Depending on jurisdiction and transaction type, the agent may seek to understand whether the buyer is:
- cash;
- financed;
- mortgage approved;
- selling another property;
- or dependent on another transaction.
Chain or Dependency
Some property markets involve transaction chains.
Others do not operate in the same way.
Where dependencies exist, understand them.
Back to topMotivation
Ask:
- Why are they buying?
- When do they need to move?
- What else are they considering?
- Is this their preferred property?
- Are they ready to proceed?
Motivation affects negotiation.
Back to topViewings
High numbers of viewings do not necessarily indicate strong performance.
Twenty unsuitable viewers may be less valuable than three serious buyers.
Back to topPART SEVEN — NEGOTIATION
A good negotiator does more than relay numbers.
They understand:
- motivation;
- timing;
- alternatives;
- leverage;
- risk;
- and deal structure.
The Highest Offer Is Not Always the Best Offer
Consider:
- finance;
- conditions;
- timing;
- certainty;
- deposits;
- dependencies;
- and likelihood of completion.
A slightly lower offer with greater certainty can sometimes be stronger.
Back to topDo Not Negotiate Against Yourself
If the buyer has not made an offer, do not immediately volunteer a discount.
Let the negotiation begin.
Back to topCounteroffers
A counteroffer should have purpose.
It may be used to improve:
- price;
- timing;
- deposit;
- conditions;
- included items;
- or certainty.
Multiple Offers
Where legally permitted and properly handled, competing buyers can strengthen the seller's position.
The agent should follow local rules and ethical standards.
Back to topEmotional Negotiation
Property is emotional.
That makes professional representation useful.
A good agent can keep negotiations focused when buyers and sellers become personally invested.
Back to topPART EIGHT — FEES AND COMMISSION
Agency fees vary substantially around the world.
They may be:
- percentage based;
- fixed fee;
- tiered;
- success based;
- monthly;
- or combined with management charges.
Cheapest Is Not Always Cheapest
Suppose:
Agent A
charges 1%.
Agent B
charges 2%.
If Agent B negotiates a materially higher sale price or completes much faster, the higher commission may produce the better net result.
Compare:
net outcome — not headline fee.
Back to topAsk What Is Included
Fees may or may not include:
- photography;
- portals;
- video;
- floor plans;
- advertising;
- viewings;
- legal coordination;
- or specialist marketing.
Withdrawal Fees
Marketing Charges
Referral Fees
Agents may receive referral income from:
- lawyers;
- mortgage providers;
- insurance;
- surveyors;
- relocation companies;
- or other suppliers.
Disclosure requirements vary by jurisdiction.
Ask if there is a commercial relationship.
Back to topPART NINE — THE AGENCY AGREEMENT
Term
Commission Trigger
Continuing Liability
Some agreements can create commission exposure after the agency relationship ends if a buyer originally introduced by the agent later purchases.
Understand the wording.
Back to topMarketing Rights
Data Use
Understand how your personal and property information may be used.
Back to topPART TEN — BUYING THROUGH AN ESTATE AGENT
Buyers should remember:
the agent showing you the property may not represent you.
This distinction matters.
Back to topAsk Who the Agent Represents
Before relying on advice, establish whether the agent acts for:
- seller;
- developer;
- landlord;
- buyer;
- or multiple parties.
Do Your Own Due Diligence
An agent can provide information.
They are not a substitute for appropriate:
- legal advice;
- survey;
- valuation;
- tax advice;
- finance advice;
- or building inspection.
Verify Important Statements
If something materially affects your purchase, verify it independently.
Examples can include:
- property size;
- title;
- planning;
- rental return;
- service charges;
- completion date;
- permissions;
- and development facilities.
“Guaranteed Returns”
Treat guaranteed investment returns carefully.
Ask:
- Who guarantees them?
- For how long?
- On what conditions?
- Is the return gross or net?
- What happens afterwards?
PART ELEVEN — BUYING PROPERTY ABROAD
International buyers face an additional layer of complexity.
Back to topLocal Market Practice
Do not assume the process works like your home country.
Differences may include:
- agent roles;
- reservation deposits;
- legal representation;
- ownership restrictions;
- taxes;
- registration;
- and completion.
Foreign Ownership
Some jurisdictions allow unrestricted foreign ownership.
Others restrict:
- land;
- property types;
- locations;
- ownership percentage;
- or legal structure.
Check before committing.
Back to topCurrency
If the purchase and your wealth are in different currencies, exchange rates can materially change the final cost.
Back to topTax
Potential taxes may arise on:
- purchase;
- ownership;
- rental income;
- sale;
- inheritance;
- and capital gains.
Rules vary by jurisdiction and personal circumstances.
Back to topLocal Legal Representation
Use appropriately qualified independent legal advisers.
Do not assume the seller's or developer's advisers protect your interests.
Back to topTranslation
Never sign a document you do not properly understand.
Use reliable translation where needed.
Back to topPART TWELVE — SELLING PROPERTY INTERNATIONALLY
International sellers should think about the buyer market geographically.
Ask:
- Is demand local?
- Regional?
- International?
- Investor-led?
- Lifestyle-led?
The marketing strategy should follow the likely buyer.
Back to topInternational Pricing
A seller may think in one currency while buyers compare in another.
Currency movement can influence demand.
Back to topCross-Border Buyers
International purchasers may need more time for:
- finance;
- legal checks;
- money transfer;
- visas;
- company structures;
- and travel.
The agent should know how to manage this.
Back to topPART THIRTEEN — NEW-BUILD AND DEVELOPER SALES
Developer property deserves particular caution because the buyer is often purchasing:
something that does not yet exist.
Back to topShow Homes
A show home is a marketing environment.
Check exactly what is included in the property being purchased.
Back to topCGI
Computer-generated images can illustrate intended appearance.
They are not the completed property.
Check contractual specifications.
Back to topBuild Specification
Completion Date
Stage Payments
Off-plan purchases may require payments during construction.
The structure varies significantly by market.
Back to topDeveloper Track Record
PART FOURTEEN — PROPERTY INVESTMENT AGENTS
Yield
Occupancy
A theoretical rent is irrelevant if the property is regularly empty.
Back to topCosts
Include:
- management;
- service charges;
- maintenance;
- insurance;
- taxes;
- utilities;
- furnishing;
- and vacancy.
Exit Market
Before buying, ask:
Who is likely to buy this property from me later?
A property may produce rent but have limited resale liquidity.
Back to topPART FIFTEEN — LETTING AND PROPERTY MANAGEMENT
A strong letting agent should understand both:
- tenant acquisition;
- and ongoing property management.
Tenant Selection
The precise process varies by jurisdiction.
Good practice may include appropriate:
- identity checks;
- affordability checks;
- references;
- and legally required verification.
Rent Collection
Maintenance
Ask:
- Who authorises repairs?
- What spending limit applies?
- Are contractors independent?
- Does the agent add a margin?
Inspections
Regular inspection can help identify:
- maintenance;
- damage;
- compliance issues;
- and tenancy problems.
Emergency Management
For remote landlords, 24-hour response capability may be important.
Back to topPART SIXTEEN — TECHNOLOGY AND MODERN ESTATE AGENCY
Property search increasingly begins online.
But technology has not removed the need for skilled agents.
It has changed where agents add value.
Back to topPortals Create Visibility
Portals make it easy to see:
- listings;
- prices;
- photographs;
- and locations.
But they do not necessarily explain:
- motivation;
- hidden problems;
- negotiation;
- market sentiment;
- or off-market opportunities.
Automated Valuation
Automated valuation tools can provide useful indications.
But unique properties may be difficult to value algorithmically.
Local professional judgement remains valuable.
Back to topCRM
Modern agents should use customer relationship systems to understand:
- buyer preferences;
- previous enquiries;
- viewing history;
- and current requirements.
This can improve matching.
Back to topAI
Artificial intelligence can assist with:
- descriptions;
- lead qualification;
- image processing;
- data analysis;
- and customer service.
It should not replace accurate property information or professional judgement.
Back to topPART SEVENTEEN — WARNING SIGNS
Be cautious if an agent:
- cannot justify the valuation;
- pressures you to sign immediately;
- avoids discussing fees;
- cannot explain the agency agreement;
- has poor communication;
- provides misleading property information;
- promises guaranteed prices;
- cannot identify recent comparable transactions;
- constantly blames the market;
- or recommends every property as an “investment opportunity”.
BEWARE OF FAKE LISTINGS
Property scams can involve:
- properties that do not exist;
- properties the advertiser does not control;
- cloned listings;
- fake landlords;
- false developer offers;
- and payment instructions altered by fraudsters.
Never transfer large sums solely on the basis of an email.
Back to topPayment Fraud
Property transactions can attract payment-diversion fraud.
Independently verify:
- bank details;
- recipient;
- and any changed payment instructions.
Licensing
Many jurisdictions regulate real-estate agents.
Where licensing or registration exists, verify the agent appropriately.
Back to topPART EIGHTEEN — QUESTIONS TO ASK BEFORE APPOINTING AN AGENT
About the Market
□ What similar properties have you sold recently?
□ What evidence supports your valuation?
□ Who is the likely buyer?
□ What competing properties are currently available?
□ How long are comparable properties taking to sell?
About Marketing
□ Which portals will you use?
□ Will you use professional photography?
□ Will you create video?
□ Do you have relevant buyers already registered?
□ Will you market internationally?
□ Will you use email marketing?
□ What is your launch strategy?
About Service
□ Who handles my property?
□ Who conducts viewings?
□ How quickly are enquiries answered?
□ How often will I receive feedback?
□ How do you qualify buyers?
About Fees
□ What is the commission?
□ What is included?
□ Are there additional marketing charges?
□ Is tax added?
□ Are there withdrawal charges?
□ When does commission become payable?
□ Do you receive referral fees?
About the Agreement
□ Is it sole agency?
□ Exclusive?
□ Multiple agency?
□ How long is the term?
□ How do I terminate?
□ Is there continuing commission liability?
Back to topPART NINETEEN — QUESTIONS BUYERS SHOULD ASK THE AGENT
□ Why is the owner selling?
□ How long has the property been available?
□ Has the price changed?
□ Have previous transactions fallen through?
□ Are there offers?
□ What is included?
□ Are there service charges?
□ Are there restrictions?
□ Is it occupied?
□ What are comparable properties selling for?
□ Who does the agent represent?
□ Is the agent receiving commission from another party?
Not every question must be answered, and disclosure rules vary.
But asking them can reveal useful information.
Back to topPART TWENTY — THE RIGHT AGENT SHOULD CREATE VALUE
An agent's job is not simply to upload a listing.
A professional agent can create value through:
Pricing
Positioning the property correctly.
Presentation
Making the property easy to understand and attractive to the appropriate audience.
Reach
Finding relevant buyers.
Qualification
Separating genuine prospects from casual enquiries.
Negotiation
Improving the commercial outcome.
Communication
Keeping all parties informed.
Progression
Helping prevent an agreed transaction from collapsing unnecessarily.
That is what the fee should be buying.
Back to topESTATE AGENT SELECTION SCORECARD
Score each shortlisted agent from 1 to 5.
| Category | Agent A | Agent B | Agent C |
|---|---|---|---|
| Local market knowledge | |||
| Comparable transactions | |||
| Valuation evidence | |||
| Marketing quality | |||
| Buyer database | |||
| International reach | |||
| Communication | |||
| Negotiation experience | |||
| Fee transparency | |||
| Contract flexibility | |||
| Personal confidence |
Do not automatically choose the highest valuation or lowest fee.
Choose the agent with the strongest overall proposition.
Back to topFrequently Asked Questions
Should I choose the agent giving me the highest valuation?
No.
Ask for evidence supporting the valuation.
Should I choose the cheapest agent?
Not automatically.
Compare the likely net result and quality of service.
How many agents should I interview?
Enough to compare genuinely different approaches.
Three is often a practical starting point, but there is no universal rule.
Is a large agency better than an independent?
Neither is automatically better.
A large group may offer:
- reach;
- systems;
- and resources.
An independent may offer:
- local expertise;
- senior involvement;
- and personal service.
Judge the actual office and people handling the instruction.
Is online-only estate agency a good idea?
It can suit some sellers.
Compare:
- support;
- viewings;
- negotiation;
- local expertise;
- and whether the fee is payable regardless of sale.
What does “off market” mean?
Usually that the property is being offered selectively rather than publicly advertised.
The exact meaning can vary.
Do estate agents work for buyers?
In some markets, yes.
In others, the selling agent primarily represents the seller.
Always establish the relationship.
Can an agent represent both buyer and seller?
This depends on local law and agency rules.
Where permitted, conflicts and disclosure must be carefully managed.
Can I negotiate estate-agent commission?
Sometimes.
But do not focus so heavily on commission that you weaken the service required to achieve the sale.
Are estate-agent valuations legally binding?
Normally they are marketing opinions rather than formal valuations for lending or legal purposes.
Terminology and regulation vary.
Should I accept the first offer?
It depends on:
- price;
- market;
- buyer quality;
- timing;
- and alternatives.
Is the highest offer always best?
No.
Certainty and conditions matter.
Should I use the agent's recommended lawyer or mortgage adviser?
You may choose to, but understand whether referral fees or commercial relationships exist and whether you are free to choose independently.
How do I know whether an overseas agent is legitimate?
Where regulation exists, verify:
- registration;
- licence;
- company;
- office;
- and professional standing.
Use independent legal advisers.
Can I buy property without an estate agent?
In many jurisdictions, yes.
But an agent can provide valuable market access, negotiation and transaction support.
What is the biggest mistake sellers make when choosing an agent?
Choosing the agent who tells them what they most want to hear.
PRACTICAL 24ESTATEAGENTS EXAMPLES
How Different Property Situations Require Different Agents, Strategies and Decisions
The easiest way to understand estate agency is to look at how the decisions change in different situations.
These examples are illustrative rather than specific investment recommendations.
Back to topEXAMPLE 1 — SELLING A FAMILY HOME
A homeowner plans to sell a four-bedroom house.
Three agents provide valuations:
| Agent | Suggested Asking Price | Fee | Proposed Strategy |
|---|---|---|---|
| Agent A | £475,000 | 1.0% | Standard portal listing |
| Agent B | £525,000 | 1.0% | Standard portal listing |
| Agent C | £485,000 | 1.5% | Professional photography, targeted database, launch campaign |
Agent B appears attractive because the valuation is highest.
But the seller asks for comparable evidence.
Recent similar homes have actually sold between:
£465,000 and £490,000.
Agent B cannot provide evidence supporting £525,000.
Agent C recommends launching at £485,000 and explains how the property will be positioned.
The lesson:
The highest valuation is not necessarily the best valuation.
An unrealistic asking price can cost more than a higher commission.
Back to topEXAMPLE 2 — TWO OFFERS, BUT THE HIGHEST IS NOT NECESSARILY BEST
A property is marketed at £400,000.
Two offers arrive.
Buyer A
Offers:
£405,000
but:
- has a property to sell;
- has not yet accepted an offer;
- requires mortgage finance.
Buyer B
Offers:
£395,000
and:
- has no property to sell;
- has finance agreed;
- can proceed immediately.
The £405,000 offer is higher.
But it also contains significantly more transaction risk.
The seller might:
- accept Buyer A;
- negotiate Buyer B upwards;
- or ask both buyers for best and final offers.
The important point is:
Price is only one part of an offer.
A professional agent should help the seller understand the quality of the buyer as well as the number.
Back to topEXAMPLE 3 — THE PROPERTY THAT HAS BEEN OVERVALUED
A seller initially lists at:
£750,000.
Comparable sales suggest closer to:
£675,000.
After eight weeks there are:
- few enquiries;
- two viewings;
- no offers.
The price is reduced to:
£715,000.
Then:
£695,000.
Buyers browsing property portals now see that the property has:
- been available for months;
- had several price reductions;
- and remains unsold.
Some begin to assume there is a problem.
Eventually it sells for:
£660,000.
It is impossible to know precisely what would have happened under a different strategy.
But this illustrates why launching at an unrealistic price can sometimes weaken rather than strengthen a seller's negotiating position.
Back to topEXAMPLE 4 — CHOOSING BETWEEN A LARGE BRAND AND A LOCAL INDEPENDENT
A seller has two choices.
Agent A
Large international brand.
Offers:
- major website;
- large marketing department;
- multiple offices;
- international branding.
Agent B
Independent local agency.
Offers:
- 15 years' experience in that neighbourhood;
- personally handles every viewing;
- already knows several buyers seeking that property type.
Neither is automatically better.
For a highly specialised local family-home market, Agent B may have the advantage.
For an international luxury property, Agent A's wider reach may matter more.
The correct question is:
Which agent has the strongest route to the likely buyer?
Back to topEXAMPLE 5 — BUYING AN OVERSEAS HOLIDAY PROPERTY
A buyer living in Germany wants an apartment in southern Spain.
The selling agent represents the seller.
The buyer likes a €350,000 apartment and is told:
- it has strong holiday-let potential;
- demand is excellent;
- and similar properties achieve attractive rental income.
Instead of relying exclusively on the sales agent, the buyer independently checks:
- title;
- planning status;
- community charges;
- local letting regulations;
- taxation;
- expected management costs;
- and realistic rental occupancy.
The property may still be an excellent purchase.
The point is that:
An estate agent's role does not replace independent legal, tax and property due diligence.
Back to topEXAMPLE 6 — THE "8% RENTAL RETURN"
An investor is shown an apartment costing:
$300,000.
The agent advertises:
8% rental yield.
That sounds like:
$24,000 per year.
But further investigation shows annual costs of:
- management: $3,000;
- service charges: $4,500;
- maintenance: $1,500;
- insurance: $700;
- vacancy and letting costs: $2,300.
Net income before tax and finance becomes approximately:
$12,000.
That is closer to:
4% on the $300,000 purchase price.
The lesson:
Always establish whether an advertised yield is gross or net.
Back to topEXAMPLE 7 — A NEW DEVELOPMENT PURCHASE
A buyer is considering an apartment in a development scheduled for completion in two years.
The sales brochure contains:
- swimming pool;
- landscaped gardens;
- gym;
- premium kitchen;
- impressive CGI images.
The buyer asks the agent:
“Which of these items are actually included in my purchase contract?”
That question matters.
Marketing material illustrates the development.
The contractual specification determines what the developer is legally obliged to deliver.
The buyer therefore checks:
- exact unit;
- floor;
- orientation;
- internal area;
- balcony;
- parking;
- finishes;
- appliances;
- payment schedule;
- and completion provisions.
EXAMPLE 8 — THE BUYER WHO THINKS THE AGENT REPRESENTS THEM
A buyer views ten properties through the same estate agent.
They begin treating the agent almost like their personal adviser.
But the agent has actually been instructed and paid by the sellers.
That does not mean the agent is behaving improperly.
It simply means the buyer should understand the relationship.
If the buyer wants someone specifically tasked with:
- sourcing;
- analysing;
- and negotiating property on their behalf,
they might consider appointing their own buyer's agent where that model is available.
Back to topEXAMPLE 9 — SELLING A LUXURY PROPERTY
A €4 million villa is being sold in an international resort market.
Publishing it everywhere may not necessarily be the strongest strategy.
The likely purchasers may include:
- international entrepreneurs;
- executives;
- investors;
- family offices;
- and existing property owners in the area.
The appointed agent develops a narrower strategy:
- high-quality photography;
- professional film;
- direct communication with qualified buyers;
- international broker cooperation;
- targeted digital campaigns;
- and carefully controlled viewings.
In this market, generating:
five genuine qualified enquiries
may be far more valuable than generating:
500 casual online leads.
Back to topEXAMPLE 10 — SELLING AN INVESTMENT PROPERTY WITH A TENANT
An investor owns an apartment occupied by a reliable tenant.
The owner wants to sell.
There are potentially two different buyer groups:
Owner-occupiers
They may want the property vacant.
Investors
They may see the existing tenant and rent history as an advantage.
A good agent should establish which market creates the stronger proposition.
Simply advertising:
“Two-bedroom apartment for sale”
misses the investment story.
Back to topEXAMPLE 11 — THE AGENT WITH 10,000 BUYERS
An agent tells a seller:
“We have 10,000 people on our database.”
That sounds impressive.
The seller asks:
- How many are actively looking?
- How many are looking in this location?
- How many want this property type?
- How many are in this price range?
- How many have been active recently?
The relevant audience turns out to be:
143 potential buyers.
That is still extremely valuable.
In fact, it is more useful information than the original 10,000 figure.
Relevant reach is more important than raw database size.
Back to topEXAMPLE 12 — THE LANDLORD CHOOSING A LETTING AGENT
A landlord compares two agents.
Agent A
Management fee:
7%
but maintenance coordination is charged separately.
Agent B
Management fee:
10%
but includes:
- tenant communication;
- inspections;
- maintenance administration;
- arrears management;
- regular reporting.
The landlord lives overseas.
Agent B may therefore provide better value despite the higher percentage because the landlord requires a genuinely managed service.
Back to topEXAMPLE 13 — CHEAP MANAGEMENT THAT BECOMES EXPENSIVE
A landlord selects the cheapest management company.
They later discover the agent:
- rarely inspects;
- responds slowly to maintenance;
- applies large contractor mark-ups;
- and provides poor financial reporting.
A relatively small saving in annual management fees creates much larger costs through:
- delayed repairs;
- tenant turnover;
- and poor property condition.
Management should be evaluated on:
total outcome, not commission percentage alone.
Back to topEXAMPLE 14 — THE OVERSEAS INVESTOR WHO NEVER VISITS
An investor living in Singapore buys an apartment in Europe.
The property will be rented permanently.
For this buyer, the agent's ability to provide:
- remote viewings;
- digital documentation;
- local legal introductions;
- management;
- maintenance;
- financial reporting;
- and tenant communication
may matter more than having a prestigious high-street office.
Different clients place value on different agency capabilities.
Back to topEXAMPLE 15 — FOREIGN-CURRENCY RISK
A buyer agrees to purchase an overseas property for:
€500,000.
Their funds are held in another currency.
Between reservation and completion, the exchange rate changes significantly.
The effective cost in the buyer's home currency increases.
Nothing about the property changed.
But the acquisition became more expensive.
International buyers therefore need to consider:
- purchase price;
- transaction costs;
- and currency exposure.
EXAMPLE 16 — THE AGENT WHO SELLS THE AREA, NOT JUST THE PROPERTY
Two agents describe the same apartment.
Agent A says:
“Beautiful two-bedroom apartment with balcony.”
Agent B explains:
- walking time to transport;
- local restaurants;
- nearby schools;
- beach access;
- business district;
- rental demand;
- and planned infrastructure.
Buyers are rarely purchasing only:
walls and a roof.
They are buying:
location + lifestyle + access + opportunity.
Strong agents understand this.
Back to topEXAMPLE 17 — THE PROPERTY WITH 40 VIEWINGS AND NO OFFER
A seller is initially pleased because the agent has conducted:
40 viewings.
But there are no offers.
Possible explanations include:
- incorrect price;
- misleading marketing;
- poor qualification;
- condition problems;
- unsuitable audience;
- or something buyers discover during the viewing.
The correct response is not simply:
“We need more viewings.”
The agent should analyse why the existing viewings are not converting.
Back to topEXAMPLE 18 — FEEDBACK THAT ACTUALLY HELPS
After each viewing, an agent reports:
“They liked it but it wasn't for them.”
This tells the seller almost nothing.
Useful feedback might instead show that several buyers independently considered:
- the kitchen dated;
- bedrooms small;
- asking price high;
- garden excellent;
- location ideal.
Patterns in feedback can support decisions about:
- price;
- presentation;
- or marketing.
EXAMPLE 19 — THE FALLEN-THROUGH SALE
A buyer agrees to purchase a property.
Several weeks later the transaction collapses.
A weak agent simply returns the property to the market.
A strong agent immediately:
- contacts previous interested parties;
- reopens negotiations;
- updates marketing;
- explains the position appropriately;
- and attempts to preserve momentum.
Transaction progression is an important part of agency performance.
Back to topEXAMPLE 20 — THE DEVELOPER CHANNEL-PARTNER MODEL
A major property developer may appoint a network of independent agents or channel partners.
Rather than relying entirely on its own sales team, the developer gains access to:
- local agents;
- international agents;
- investment advisers;
- specialist brokers;
- and their existing client networks.
An individual agent may therefore market developments located thousands of kilometres away.
This model is particularly common in international new-build markets.
For buyers, it makes one question important:
Who is the agent representing and how are they being paid?
Back to topEXAMPLE 21 — THE SAME DEVELOPMENT FROM MULTIPLE AGENTS
A buyer sees the same new development advertised by:
- Agent A;
- Agent B;
- Agent C;
- and the developer directly.
The underlying property may be identical.
The difference between agents may therefore lie in:
- responsiveness;
- market knowledge;
- after-sales support;
- investment analysis;
- language;
- local representation;
- and understanding the buyer's requirements.
An agent's value should not be measured solely by access to inventory everyone else also has.
Back to topEXAMPLE 22 — SELLING BEFORE BUYING
A homeowner wants to move but has not yet sold their existing property.
They find their ideal next home.
The seller receives two offers:
This buyer
Excellent price but depends on selling their current home.
Another buyer
Slightly lower offer but already ready to proceed.
The strength of the chain or transaction dependency may influence the seller's decision.
A good agent should establish this early rather than discovering it weeks later.
Back to topEXAMPLE 23 — A PROPERTY THAT NEEDS RENOVATION
A dated house could be marketed as:
“Property requiring modernisation.”
Or the agent could identify who may actually value it:
- developers;
- renovators;
- owner-builders;
- investors;
- or buyers seeking a project.
The property has not changed.
The target audience has.
Correct positioning can transform marketing results.
Back to topEXAMPLE 24 — THE AGENT WHO SAYS “I HAVE A BUYER”
Before signing an agency agreement, a seller hears:
“I already have someone who wants a house exactly like yours.”
The seller should ask:
- Have they seen the property details?
- Are they actively looking?
- What is their budget?
- Are they financially qualified?
- When did you last speak to them?
Sometimes there genuinely is an ideal buyer.
Sometimes it is simply an instruction-winning technique.
Evidence matters.
Back to topEXAMPLE 25 — WHY FOLLOW-UP MATTERS
A prospective buyer views a property and says:
“We need to think about it.”
A passive agent waits.
A professional agent follows up appropriately and discovers:
- the buyer likes the property;
- the main concern is price;
- they are also viewing another house tomorrow.
That information creates an opportunity to negotiate.
A considerable amount of estate agency value happens after the viewing.
Back to topHOW 24ESTATEAGENTS FITS INTO THESE SCENARIOS
These examples also explain why property buyers and sellers benefit from choosing what information they receive.
Someone looking for:
a holiday apartment in Portugal
does not necessarily want updates about:
commercial property in New York.
An investor interested in:
Dubai off-plan developments
may not need:
rural properties in France.
A landlord may be interested primarily in:
- letting agents;
- property managers;
- investment opportunities;
- landlord services;
- and local market updates.
A seller may want:
- estate agents;
- valuations;
- local sales information;
- and property-market news.
The 24EstateAgents model allows subscribers to choose the property sectors and locations relevant to them rather than receiving indiscriminate property marketing.
Back to topA PRACTICAL EXAMPLE OF THE 24ESTATEAGENTS NETWORK
Imagine three estate agencies join 24EstateAgents.
Agency One
Specialises in:
Dubai new developments.
Agency Two
Specialises in:
Spanish holiday homes.
Agency Three
Specialises in:
UK residential property.
Each publishes information relevant to its sector.
A subscriber interested only in:
Dubai investment property
can follow that subject.
Another interested in:
Spanish holiday homes
can follow a different stream.
The subscriber does not need to join three separate agency databases and then receive everything those agencies send.
They select the information relevant to them.
Back to topA SELLER EXAMPLE
A homeowner considering selling may subscribe to:
estate-agent and property-market updates in their area.
Over several months they begin seeing:
- recent listings;
- market commentary;
- advice;
- local developments;
- and information from participating estate agents.
When the time comes to sell, they may already recognise agents that have demonstrated expertise.
The relationship starts before the valuation appointment.
Back to topA BUYER EXAMPLE
A buyer looking for an investment apartment could select interests such as:
- apartments;
- investment property;
- new developments;
- and a preferred location.
Participating agents can then communicate relevant opportunities without sending unrelated property categories.
Back to topAN AGENT EXAMPLE
An estate agent has ten properties available.
Instead of broadcasting all ten to every contact, they could communicate:
- villas to villa buyers;
- investment property to investors;
- apartments to apartment buyers;
- and new developments to subscribers who specifically selected new developments.
The result should be:
fewer irrelevant messages and more relevant conversations.
Back to topTHE PRINCIPLE
Traditional property email marketing often asks:
“Who is on our database?”
A more useful question is:
“Who has said they are interested in this type of property?”
That distinction is central to 24EstateAgents.
The objective is not to send more property emails.
It is to make property communication more relevant.
Right property. Right audience. Right reason to open the message.
Back to topPROPERTY IS LOCAL — BUYERS ARE INCREASINGLY GLOBAL
Every property occupies one exact location.
But its next owner may live:
- across the street;
- in another city;
- or on another continent.
Modern estate agency therefore combines:
- local knowledge;
- digital marketing;
- professional negotiation;
- and increasingly international reach.
24EstateAgents helps buyers, sellers, landlords, investors and property professionals follow estate agencies and property opportunities relevant to them.
Subscribers can choose interests including:
- residential property;
- luxury property;
- apartments;
- villas;
- investment property;
- new developments;
- overseas property;
- buy-to-let;
- lettings;
- property management;
- relocation;
- and regional property markets.
The best estate agent is not necessarily the one with:
- the biggest brand;
- the highest valuation;
- or the lowest commission.
It is the one most capable of getting the right property in front of the right people — and then turning interest into a successful transaction.
Choose the agent, not just the agency.
This guide provides general information for an international audience and does not constitute legal, financial, tax, valuation, investment, property or agency advice. Estate-agency practices, licensing, disclosure requirements, fees, contracts, ownership rules and transaction procedures vary significantly between jurisdictions. Buyers, sellers, landlords and investors should obtain appropriate local professional advice.
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