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How to deal with an estate agent



When you are viewing the property, ask questions and insist on getting answers. For instance, "Why so many cracks in the wall? Is this subsidence?". Your questioning will both elicit information and put the agent off-balance.

Avoid displays of positive emotion when viewing. Be quiet, calm and sceptical, even dour. It will disconcert the agent, who will be unsure what line to take with you. When he asks questions, let your answers be short, to the point, and delivered with a poker face.

Always remind the agent of how experienced a buyer you are. The awareness of a solid buyer can play a key role in negotiating the price. From the owner's point of view, better a solid buyer and a lower price than a risky buyer offering the full price.

To avoid gazumping, get a friend to call up the estate agent about the property you have agreed to purchase to see if they are still marketing that property. If the agent is still accepting viewings, then it is possible you'll be gazumped. Confront them with their duplicity, and look for other properties.

By law, all offers must be communicated to the vendor. If you mistrust your agent, try to exchange telephone numbers with the owner, once you have agreed a deal. Use an excuse, such as wanting to discuss the sale of furniture. This will ensure communication between yourself and the vendor. Failing this, try to drop a note through the vendor's letterbox with your name and telephone number.

When calling to book a valuation, always tell the agent that you are looking to put your property on the market. This will always guarantee a free valuation. If you tell the agent that you need a valuation for a re-mortgage, or a divorce valuation, they will always try to charge you for it.

A common tactic used by agents before signing is to state that they have a minimum contract term. In reality, this is not the case. It is merely another sales tactic, first to give the agent maximum exclusivity for selling time, and, second, to freeze out the competition. In fact, the contract can be amended, so do not be misled.

Throw the agent off-guard by invoking 'parallel reduction'. If you have to reduce the price on your property, then the agent should be willing to reduce his commission. If you have to take a hit, why shouldn't he?

A good tactic a vendor can use to get a lower fee is the playoff close, when the vendor plays one agent against another.

For example: "We've seen a few agents and we've narrowed our choice down to you and one other agent. We would prefer to go to market with you, but the other agent has offered a lower commission. If you can match that, we'll come on the market with you." While doing this, smile.

Beware tea and coffee. Agents will always try to increase the amount of time spent with a potentially strong buyer.

Although agents often work against each other in the of"ce, they sometimes join forces in what is called "office assistance". Another agent offers the buyer a beverage, a display of manners with an ulterior motive. The more time an agent has with you, the more time they have to make you comfortable and sell you other products. "Estate agents' culture is such that you do almost anything not to lose a sale. When I was an agent we played on people's ignorance and nudged them into making decisions, so that we could close a deal as quickly as possible. . however not all estate agents are evil. There are a few who do have your best interests at heart."

In conversation with Henry Sutton Pav Sheen is author of 'Tips, Tricks, Traps'. For more information visit www. beattheagents. co. uk




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