Three estate agents value your home.

One says £275,000.

Another says £285,000.

The third says £300,000.

Be honest. Which one has your attention?

That's precisely why choosing an agent on valuation alone can be dangerous.

The £300,000 figure sounds wonderful across the kitchen table.

It sounds considerably less wonderful three months later if the house is still on Rightmove, you've had four viewings and somebody is suggesting a price reduction.

So before signing anything, ask some less flattering questions.

“Show me how you got to that valuation”

Don't settle for “we know the Peterborough market.”

Ask for examples.

Which similar homes have actually sold recently?

Where were they?

How similar were they in size, condition and location?

And crucially, what did they sell for?

A house advertised for £350,000 isn't evidence that somebody paid £350,000 for it.

Peterborough's city-wide averages can provide context, but your three-bedroom semi isn't being sold to an average buyer in an average street.

The agent should be able to show their working.

And if two agents are £25,000 apart, ask why.

“Who am I actually going to deal with?”

The person sitting in your kitchen may be excellent.

But will you ever speak to them again?

Ask who will arrange the viewings, chase feedback, negotiate offers and call you when something starts going wrong.

Then ask how often you'll hear from them.

“Whenever there's news” sounds fine until three weeks pass without any.

You want to know what happens if the first burst of interest disappears.

“What are you actually going to do in week one?”

Every agent can promise “maximum exposure”.

Ask what that means.

Who takes the photographs?

Is there a floor plan?

Where will the property appear?

Who writes the description?

Will there be video?

Is social-media promotion included?

Are accompanied viewings included or extra?

And when will you see and approve the finished listing?

One particularly useful question is:

“Show me a recent Peterborough property like mine and tell me what you did to market it.”

Now you've moved from promises to evidence.

“How much am I paying in pounds?”

Percentage fees have an interesting habit of sounding smaller than they are.

Ask for the total fee including VAT and get it in writing.

Then ask what isn't included.

Photography?

Floor plans?

Video?

Accompanied viewings?

Withdrawal fees?

Anything else?

Also ask about referral fees.

Your agent may recommend a mortgage adviser, conveyancer, removals company or another service and receive a payment for doing so.

That doesn't automatically make the recommendation bad.

You should simply know when a commercial relationship exists and whether you're free to choose somebody else.

“How long am I stuck with you?”

Possibly not the wording to use at the valuation appointment.

But definitely the information you want.

Read the agency agreement.

Is it sole agency or sole selling rights?

How long is the minimum term?

How much notice do you have to give?

Could you still owe a fee after leaving if somebody originally introduced by that agent eventually buys the house?

The original HSI research also flags an important distinction here:

With sole selling rights, you may still have to pay the estate agent's fee even if you find the buyer yourself. Check exactly what your agreement says before signing it.

This is one of those moments where five slightly boring minutes reading the agreement can prevent a considerably more exciting argument later.

“What happens when somebody makes an offer?”

An offer of £280,000 isn't automatically better than one of £277,000.

Who is the buyer?

Do they have a property to sell?

Is that property under offer?

Do they have a mortgage agreed in principle?

Are they a cash buyer?

How quickly can they proceed?

Ask what information the agent checks and what they will tell you.

Estate agents must pass offers to sellers until contracts are exchanged unless the seller has instructed them otherwise in writing. 

The number matters.

So does the buyer standing behind it.

“And if this all goes horribly wrong?”

Hopefully it won't.

But ask anyway.

Residential estate agents must belong to an approved redress scheme. The researched HSI package identifies the two schemes as The Property Ombudsman and the Property Redress Scheme. 

Ask which scheme the agent belongs to and how their complaints process works.

You probably won't choose an estate agent because they have a wonderful complaints procedure.

You may be very glad you checked it.

One final question

Before the agent leaves, ask:

“What could stop my house selling and what would you do about it?”

It's a revealing question.

You're no longer asking somebody to tell you how wonderful your house is.

You're asking them to identify the problems.

A good agent should be comfortable discussing an awkward layout, ambitious price, tired presentation, difficult chain or anything else that could get between you and a completed sale.

Take broadly the same questions to two or three Peterborough agents.

Then compare the answers.

The winner doesn't necessarily need to be the cheapest.

And they certainly don't need to be the one who produced the biggest number at the kitchen table.

They need to convince you that they know how they're going to sell your particular home.

Property Speak - Translated

Sole agency — You appoint one estate agent to sell your home. Depending on the agreement, you may not have to pay their fee if you find the buyer yourself.

Sole selling rights — You could still have to pay the estate agent even if you find the buyer yourself. Check exactly what your agreement says before signing.

Property chain — A series of connected home sales. Your buyer may need their sale to complete before they can buy yours.

Exchange of contracts — The stage when the sale normally becomes legally binding.

Redress scheme — An independent complaints service you can turn to if your estate agent hasn't resolved your complaint.

Then finish:

If you've sold a Peterborough home before, what would you ask an estate agent before choosing one next time? Tell us in the comments below