What an estate agent does

An estate agent to help you buy or sell your property

When you buy or sell a property, it’s up to you whether or not you engage a buyers or sellers estate agent. An estate agent can support you throughout the process or with just part of it. Read on to find out what an estate agent can do for you and what the costs are.

Some of the things an estate agent can help you with:

The price for which you can buy or sell the property.
Rules that the buyer and seller need to comply with.
How and when you will get the keys to the property or need to vacate your old property.
Looking for a property (buyer’s estate agent) or finding someone to buy your property (seller’s estate agent). If you are looking for a special property, such as a farm or a listed building, an estate agent can find one for you. Some estate agents even specialise in these types of properties.
Viewing a property and negotiating with the buyer or seller. Once you have agreed a price, the estate agent can put together a purchase contract for you.

Pros

An estate agent is usually the first to know which homes will be put on the market.
Organization: The estate agent takes a lot of work off your hands, such as setting up the contract with the buyer and the negotiations.
Knowledge and experience: There's a lot to do when you buy a home. Working with an estate agent enables you to take advantage of his/her relevant and up-to-date knowledge and experience.
Rational: Buying a home can be a very emotional experience. Your estate agent is not affected by emotions and has a rational perspective. This objective sounding board makes it easier for you to make decisions.

Cons

The estate agent's commission can be quite high. Fees vary but are generally 1% to 2% of the purchase price. Some estate agents work with a fixed fee.
An estate agent can be under pressure to close a deal and may not always go for the lowest price.
You may pay additional costs on top of the commission, for example, for adverts.

Good to know about an estate agent

It is optional. Although an estate agent can take a lot of the work off your hands when you’re buying or selling a property, it’s completely up to you whether you engage one or not. You can also choose to have an estate agent support you with just part of the process, e.g. putting together the purchase contract. If you are buying or selling a property yourself, make sure you’re well prepared.

An estate agent has to:

tell you what work he is doing on your behalf and whether that is successful
not help both the buyer and seller of the same house
only buy or sell if you have given your written permission

Estate agents who are members of NVM, VBO or Vastgoed Pro have standard terms and conditions, which set out the agreements that all members have to comply with.

Cost of an estate agent

You pay the estate agent a percentage of the amount for which you buy or sell the property. This is known as commission and is usually charged on the purchase price including VAT. The amount you need to pay is not always the same, as you may be able to negotiate with the estate agent on the percentage you need to pay. Different estate agents also charge different rates.

Discuss your situation

It's nice is to be able to bounce ideas off someone when you need to make a substantial financial decision. The financial advisers at ABN AMRO are happy to help. We will help you find the solution that meets your needs best.

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Reasons for taking out a mortgage from ABN AMRO

Discount on your mortgage interest

Client discount if you have an ABN AMRO payment package. And a sustainability discount when you buy an energy-efficient home or take further sustainability measures.

Free orientation meeting

To find out more about your options, make an appointment for an orientation meeting, free of charge. Wherever and whenever suits you best, by telephone or in a video call.

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You can view and change your mortgage yourself on Internet Banking. From changing the interest rate to making additional repayments. It’s secure and easy.

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