An estate agent who has worked for multiple estate agencies for more than 20 years has revealed some common tricks employed by agents. The estate agent, who calls themselves “The Secret Estate Agent” said they have seen both “scandals” and “corrupt” tricks used to garner interest from buyers. The agent said it’s always to best to get a second opinion and see a property for yourself to avoid certain “pitfalls”.
There are a plethora of practices that are actually illegal for estate agents to use.
Most estate agents are registered with the Property Ombudsman and have to a agree to a Code of Practice.
If an agent breaks those rules laid out in the Code of Practice, they can be penalised, according to GetAgent.co.uk.
The “Secret Estate Agent” wrote in The Sun that they were left “aghast” after they saw a colleague “dramatically undervalue” a property for an elder woman before then buying it for himself.
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They will then choose the valuation and agent they think is the best or most reasonable.
Matthew Cooke, regional director of fixed-fee estate agency YOPA told The Daily Telegraph that when valuing a property agents look at the location and its local amenities such as transport and schools.
They will also look at what improvements have been made to the property, whether the property has good views, whether it has potential to be extended and whether it has been looked after.
Often, when valuing your property, an estate agent will compliment what you have and use “sales patter” to try and sway you to choose them, according to The Secret Estate Agent.
However, it’s important you make the decision yourself and don’t feel pushed to choose any one person.
They said: “One method is to tell you that you have an attractive property in an area that is sought after, with many buyers already lined up.
“You must use your own judgment to decide whether this is the case or not, because it is an often-used tactic for an agent to land a client.”
When buying a property, it’s important to view the home in person.
A lot of property photos – though stunning – are sometimes enhanced to make them look bigger and brighter.
Bear this in mind when looking at properties online and don’t leave any stone unturned when viewing in person.
The Secret Estate Agent said: “It is very rare you will see any photographs in a brochure that have not been digitally enhanced in some way.
“Pictures are taken on a wide-angle lens to give the impression of larger rooms.
“Photographs outside the home are usually Photoshopped to give a clear blue sky – offering a cleaner, smarter image.”
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