Property: Estate agent advice to avoid when buying a home – ‘don’t agree’

Martin Roberts gives tips for getting on the property ladder

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A great estate agent is key to helping homeowners buy a house, their job is to put your mind at ease and help buyers with a smooth transition from one property to another. However, in some cases buyers may find themselves in the situation where they feel that their estate agent may not be acting in the buyers best interest but their own.

Most estate agents will do their best to ensure buyers get the best deal, although, it is important to remember that estate agents are not just there to help buyers.

After all, they have an agenda too, making the most money they can out of buyers.

Some estate agents may use dishonest methods to increase the commission they make on the sale.

Experts at We Buy Any House have warned about three specific tricks estate agents use to get buyers to offer more money for a property.

Sometimes, estate agents will sometimes offer extra advertising for a fee if your property has been on the market for a while and you’re not securing many viewings.

This advertising is not necessarily always essential.

We Buy Any House (WBAH) commented: “It’s worth considering what this extra advertising is and if it’s worth you paying for it.”

To avoid falling for this estate agent trick, buyers should always make sure to find out what the extra advertising they’re offering and why they have not been doing it since your house went on the market.

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WBAH added: “There are a lot of easy ways estate agents can get more money out of you, so being weary can save you unnecessary costs.”

Another estate agent warning is to read the fine print and make sure that buyers are aware of what they are signing and that they agree to all the details and outcomes.

We Buy Any House states: “Don’t agree to anything until you know all of the details and outcomes.

“Estate agents are salespeople and whilst they may be very charismatic, you want to make sure that the money that they’re getting from you is on your terms, not theirs.”

They highlighted the importance of reading previous seller reviews to find out more about the estate agent the buyer is using. 

“Checking reviews from previous sellers that used the same estate agents can reveal a lot about the company that you may not be aware of at first.”

It’s important to remember that estate agents are a business after all.

The last estate agent tip to consider when buying a property is to be aware of the buyer incentives you’re being offered as the money your saving may be added on elsewhere.

Some estate agents will have offers to encourage potential buyers to give them their business, such as in-house mortgage brokers, discounts and conveyancing services. 

However, buyer incentives are not always such a good thing.

WBAH said: “Sometimes these [buyer incentives] can be easier, but it’s important to remember that the savings you’re getting may be added on somewhere else.

“Going through an in-house mortgage advisor limits your ability to shop around for a better rate, meaning you could be paying more in the long run.” 

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