The next step is to get a HIP before a real estate agent can take on marketing aspect of the sale. The HIP or Home information Pack is a must for houses being sold in Wales and England. This ensures that complete information is available on the market. According to law a HIP should contain key information on the property being marketed and must be provided by the seller’s agent. The HIP ensures that there are no confusions about property being sold in minds of the buyers and give buyers important information at start of the sales process. Therefore there are fewer chances of delays etc because of misinterpretation of information.
A very comprehensive way of gathering information about a property is through a property questionnaire. This is a document filled in by prospective home seller and contains information such as property size, expected value, items available, condition, any issues etc. This questionnaire must accompany EPC (Energy Performance Report), Sustainability certificate (for new homes only) and sale statement of address. The sale statement of address must include the name of seller, title and address etc. The agent must make sure that seller ha submitted copies of original documents which show ownership of the property. These official copies are usually held by the land registry. Some time properties are mortgaged etc. Evidence of this extra information that includes any other tenancies affecting the property must be gathered as well. After gathering all related documents about the property, agent should conduct a survey to ensure all the information checks out. This survey would usually include a complete house check and a visit to local authorities.
The real skills of each sales agent is seen when he has to market a sales, therefore each real estate broker has to be as creative as possible, in order to gain a competitive edge over rivals. There are a number of marketing