Top 3 Red Flags When Dealing With Estate Agents
Are you thinking about selling your home? Or maybe you have your eye on that property that would just be perfect for an HMO business? Whatever the case, buying and selling property can be tricky business. That is why most people prefer to avoid all that and let their estate agents handle everything for them. Mostly because:
- They are more experienced.
- They know all the right places to look.
- Have the right contacts for solicitors.
- Can get you a good deal.
The right estate agent can make the entire process of selling or buying your property so easy and profitable. Should you choose the wrong agent on the other hand, not only do you stand to lose money, but you might even end up buying property that is not legally for sale. That is how dire the situation can be.
Fortunately, there are signs that can show you the kind of estate agent you are dealing with when you speak to them. Signs that they may be genuine, or that they might just be the wrong agent for the job. Here are the red flags for which you should be on the lookout.
The estate agents suggests a very high price for your property
What many sellers and buyers may not realise is that most estate agents within the same region look at the same data. This means that should you ask the opinion of three agents as to how much you should list your house for, that figure should be relatively similar. This is because they know how much similar houses in the region sold for and how long they were on the market based on the asking price. An agent that gives you an outlandish figure is either not familiar with the region or does not care how long it takes your house to sell. Either way, they are not the right agent for you.
They do not typically deal with your type of property
As much as an estate agent can sell almost every type of property, those who have specialised in dealing with your type of property are already plugged into the exact market you want. That means they can get buyers or sellers sooner and they know the tricks of the trade within that niche. This means they are best placed to get you the best deal faster. Estate agents that do not typically specialise on your type of property will take longer and maybe even not focus on selling or buying it for you.
They do this as a part-time thing
Selling property is a full-time job for professional estate agents. They have their fingers on the pulse of the market and know exactly when to make what type of moves for the benefit of their clients. Estate agents who do not do this for a living do not have that kind of dedication and may not have the right kind of information. This could be detrimental to your bank balance.
Finding the right estate agent is crucial to your property sales or buying success. Make sure you find the best one.