Can I trust my Estate Agent (part 1)
Employing an estate agent to sell your home is one of the most obvious and often the first place anyone would go. In recent times for obvious reasons estate agents have found it hard. In the uk alone approximately 15,000 estates agents went out of business during the recent recession. They do of course make out that they have your best interests at heart, but at the end of the day business is business and there are a few tricks that they have up their sleeves that will benefit them but also leave the consumer out of pocket.This article will discuss some of the tricks an estate agent will use and what you should look out for.
Firstly, Estate agents wouldn’t be in business if they couldn’t attract your business in the first place. In doing so as someone who wishes to sell that on you will often get a number of estate agents round, often three to view your house size it up and also what they believe it’s worth. As a customer who wishes to achieve the highest value for their property you would likely go with the estate agent who believes your property is worth the most. This is an old trick that’s been going on for many years just so the estate agent can get you in through the door.
What you may find is that if your house is overpriced you would receive hardly any viewings at all, and after a few months of the property being on the market your estate agent would likely suggest that you lower the price. Of course if you lower the price of your home for example by ten thousand pounds it would hit you in the pocket a lot more than the estate agents whereby there is little difference between two percent commission of a hundred thousand pounds and two percent commission on ninety thousand pounds. At the end of the day the estate agent has done their job and got your house sold, but they would honestly say that they put up a smoke screen to attract your business in the first place.
Continue: Can I trust my Estate Agent (part 2)
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