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Inheriting a home is often an emotional and complex process, especially when there are multiple heirs. You all need to agree on what happens to the property. Should the property be sold? By collectively engaging a real estate agent, many discussions and problems can be avoided. A real estate agent offers professional guidance and can act as a neutral mediator, making the process smoother and faster. In this article, you will find tips for jointly choosing the best real estate agent.
Go directly to:
- Inheriting a home with multiple heirs
- The importance of a sale within 8 months after death
- Why a real estate agent is indispensable during the sales process
- Tips for jointly choosing the right real estate agent
- Quickly and objectively compare real estate agents
Inheriting a home with multiple heirs
If you inherit a house with multiple people, you must collectively decide what happens to the property, unless there is a will that already determines the destination. In that case, the will of the deceased applies. It is also possible that an irrevocable power of attorney for sale and delivery has been signed by the heirs (during the life of the deceased). This already determines that the property must be sold.
If these provisions do not exist, discussions may arise about the property's destination. One heir may want to sell, while another prefers to rent it out or live in it themselves. Differences of opinion may also arise about the selling price. In our article on disagreements between heirs you can read more about it. Also read our tips for a quick sale and determining the right asking price.
The importance of a sale within 8 months after death
If you agree on the sale of the house, you have already overcome the first hurdle. It is important to sell the house quickly now - preferably within 8 months after death. If the property is not sold within this period, it becomes part of the heirs' assets. You will then have to pay wealth tax on (your share of) the property.
Additionally, your 'new wealth' may affect any benefits, such as housing allowance, healthcare allowance, and the child budget. You may be entitled to less allowance, or your right to an allowance may disappear entirely. The longer the house is for sale, the longer you also have to maintain and insure it. These costs are the joint responsibility of the heirs.
Why a real estate agent is indispensable during the sales process
If there is one thing we want to advise you, it is to engage a real estate agent for the sale of the inherited property. The four main reasons are:
- Objective and professional view on the value of the property: A real estate agent has an objective and professional view on the property's value and the right selling price. This helps to reduce conflicts between heirs (about the price and conditions).
- A smooth sales process: A real estate agent takes a lot of work off your hands, such as arranging viewings, negotiating, and drawing up contracts. This makes the sales process smoother and faster.
- Advice on accelerating the sales process: A real estate agent quickly sees if anything needs to be done to the property to speed up the sale. This can range from tips for preparing the house for sale to carrying out renovations or full sale styling.
- Neutral mediator in disagreements between heirs: In case of disagreements, a real estate agent can act as a neutral mediator, reducing the likelihood of personal emotions taking over. This makes it easier to make decisions together.
Tips for jointly choosing the right real estate agent
If you are with multiple heirs, it is important that everyone agrees on the choice of the real estate agent. This prevents unnecessary conflicts and delays during the sales process. A real estate agent supported by everyone ensures pleasant cooperation and a smoother sales trajectory. Below you will find four tips for jointly choosing the right real estate agent.
Tip 1: Determine the criteria for comparing real estate agents together
It is best to objectively compare different real estate agents together. This means that all heirs should be involved in selecting and evaluating potential agents. It is also fine if it is collectively decided that one person will take on the task of choosing the real estate agent but agree in advance that no disagreements should arise later.
First, discuss together based on which criteria you will compare different agents. Consider the services you want to receive, the costs you want to incur, the agent's work area, and the minimum sale proceeds you wish to maintain. Note these criteria and have everyone agree to them.
Also, look carefully at the type of real estate agent you want to engage. There are full-service agents who take over the entire sales process. This is useful if you have little time or want to avoid disagreements. Real estate agents have a lot of experience; in most cases, this has a positive impact on the speed and yield of the sale.
You can also choose agents with partial services. But beware: these agents are cheaper, but you will have to perform some tasks yourself. These tasks will fall on one or more heirs, which can lead to discussions and hassle, ultimately causing delays in the sales process. Discuss this thoroughly before choosing this option.
Note: Not all agents have experience selling inherited properties. It can be valuable to choose an agent familiar with the specific challenges and legal aspects involved. Ask about this during the introductory meeting with the agents.
Tip 2: Objectively compare multiple agents
It can be challenging to contact different agents as a group and lay all the information side by side. When each heir contacts different agents, a jumble of information can quickly arise. This lack of overview can lead to confusion and disagreement, making it harder to reach a joint decision.
To prevent this problem, you can use Mijn Verkoopmakelaar for free. On our free platform, you can compare different agents objectively and clearly. You only need to register the inherited property and provide some specifications. You will then receive responses from various real estate agents in the area.
Extra tip: When making the request, mention that it concerns a property from an inheritance and that you would like to engage an agent with experience in this area.
In their responses, the agents will inform you of:
- What the total real estate agent fees are
- Which tasks they take off your hands
- What they think of the property
- What they believe the expected sale proceeds are
- Which sales strategy they apply
- Free
- Independent
- Non-binding
- Fast
Real estate agent fees
Real estate agent fees can vary significantly between agents, so it is important to compare the rates carefully. We closely monitor the average real estate agent fees per city/region for you. Click on your place of residence to view what real estate agents charge on average as a commission. This gives you a good benchmark.
Through our platform, you can save up to 40% on real estate agent fees because the agencies on our platform offer competitive rates.
Note: Do not focus solely on the rates, but also look at the services you receive for them. Check the conditions and also discuss what happens if you withdraw the sales assignment. Does that have financial consequences?
Estimated sale price
Also ask the agent for an estimate of the sale proceeds and see if you are on the same page. This helps to have realistic expectations and to determine if the agent can meet your price expectations.
If you use Mijn Verkoopmakelaar, you can see per agent what their performance is and whether the office meets the expectations outlined in advance. You can compare estimated sales proceeds with actual sale prices. This is useful, as it immediately shows what to expect.
Reviews from other sellers
Also check out the reviews from sellers who preceded you. This gives you a better picture of the agent's service. Do not only look at the number of stars but also at the specific comments that clients have left.
Tip 3: Schedule various introductory meetings (free)
If you have selected multiple agents that fit the criteria, it is important to schedule a number of (free) introductory meetings. During this meeting, you not only gain more insight into the agent's approach, but it also helps you determine if it feels right. Since you will be working together a lot, it is important that the click is good and that you feel comfortable.
Schedule meetings with multiple agents, for example, 3, so you can compare well and make the best choice. During these meetings, you get a clear picture of both the agent and the office, which is essential for a smooth and pleasant collaboration. If you use Mijn Verkoopmakelaar, you can easily schedule an introductory meeting in your online environment.
Tip 4: Go prepared to the introductory meeting
During an introductory meeting with an agent, it is crucial to be well-prepared. This helps you determine if this agent is the right choice for your sales trajectory. Here are some important questions you can ask:
- Experience with the neighborhood: Ask about the agent's experience in selling homes in the area. Inquire about recent sales and how the agent approaches the local market.
- Experience with inherited properties: Specifically ask about the agent's experience in selling inherited properties. Ask about the points of attention and advice the agent has for selling an inheritance home.
- Cost structure: Clearly ask about the agent's cost structure, including any additional fees for services such as advertising, photography, or open houses. Make sure you have a complete overview of all possible costs and how they relate to the services offered.
- Communication: Pay attention to how the agent communicates and how quickly and clearly they respond to your questions and concerns. Good communication is essential for a smooth sales process.
- Support after the sale: Inquire about the support the agent offers after the sale, such as handling administrative matters and any aftercare. The sales process does not end with signing the contract.
With these questions, you get a clear picture of the agent's approach and reliability, which helps in making a good choice.
We help you quickly and easily find the right agents for selling the inherited property. Find the best agents at competitive rates, and compare professionals based on methodology, costs, and performance.
- Receive proposals from multiple agents
- Get clarity in advance about the costs and methodology
- Choose based on performance and results
- Over 3000 people have gone before you
- Free & non-binding
- Free
- Independent
- Non-binding
- Fast
Do you have questions about our service? See how it works here or contact us!
