January 21, 2022
Estate agents often marked themselves as helpful property heroes. However, there are more than a few imperfections with their services.
Still, these professionals are an essential aspect of buying and selling property. They give both parties access to a wider market, boosting the prospects of all parties involved considerably. So how can you deal with these experts in a way that mitigates as much risk as possible?
Just because an estate agent is enthusiastic about things, it doesn't mean you should be too. The two of you will often have very different agendas during the homebuying process, so it's important to stick to your guns at crucial moments. You should place a measured amount of trust in your estate agents. Here's why.
Vague And Misleading Language
Estate agents aim to facilitate the purchase and sale of the property. Because of this, some of them will resort to dubious practices to push things along. Where these problems are most apparent is in their use of language.
One word they might frequently use to describe small properties is 'petite'. It is a generous term that can often pay tribute to homes that are altogether cramped and uncomfortable to reside in. They may also claim that you can 'put your own stamp on things' if the property is in a dire state of disrepair and requires extensive additional work.
Try to decode the true meaning behind their statements. If there are any grey areas in their language use, don't hesitate to ask them directly for clarification in simplistic terms. Most should abide by that request, but if they remain elusive, cease further dealings with them and look for better service elsewhere.
If you feel you have been misled to your detriment, you should complain to the agents themselves first. If you aren't met with any satisfactory resolution, take your case to resourceful schemes that will work to find solutions for you.
Pushy Conveyancer Recommendations
Many estate agents will recommend conveyancers for you to use. Some of them will be more insistent than others. It's always best to make your own arrangements here. Finding an affordable online conveyancer has never been easier, as you can discover free instant quotes online. Conveyancing Supermarket can help you with this, and you can compare the prices you find with their calculator. With their fast, free, and no-obligation quotes, you can save hundreds of pounds.
Purchasing a property is a big expense, with numerous costly components running alongside it. It's always best to shop around for the best prices available. Who knows, you may be surprised by what you find? Of course, there's no harm in investigating the estate agent's recommendations as well but try to gather up some more options too. Politely refuse any pushier estate agents you encounter.
It's always a good idea to hire a surveyor for a property you're interested in. This keeps you informed on the condition it's in. You will also receive recommendations for any necessary repair work that needs doing.
Unfortunately, some estate agents have been known to discourage their clients from using particular surveyors for their needs. Try not to take these comments at face value. It could be that the surveyor in question is apt at what they do and risks undoing the sale that the agent is attempting to orchestrate.
Don't accuse your estate agent of misleading you on instinct alone. Instead, approach the surveyor they spoke about directly and see if there's any truth in the agent's claims. If you find their judgement to be less than credible, then you'll also know not to take some of their other supposed 'honest' impressions too seriously either.
Remember that surveyors operate independently. Have a similar mindset, as it's more likely to help you establish a productive working relationship and ultimately secure a quality property. If the home you were warming to does indeed need lots of corrective work, then you'll be thankful for not heeding your estate agent's advice and wasting excessive amounts of time and money.
Hiking Offer Requests
Estate agents understandably wish to make as much money as possible from properties and commission fees. That said, some of them will resort to less acceptable behaviours. For example, some would-be buyers reported having their offers accepted, only to be told later by estate agents to provide a better and final offer for them.
Changing the rules halfway through the game clearly isn't fair and leaves many people in an unfortunate position. Most of them will likely go back to square one if they cannot hand over the additional funds.
Estate agents should ideally be more sensitive to the challenges first-time buyers face too. However, they often accepted offers from potential buyers who did not even view the property last year. It's suspected that the homers were bought, renovated cheaply, and then rented out to other people. Estate agents are part of a business and so understandably chase the money, but those practices do arguably come with a moral and ethical cost.