Real Estate Agents Guide
Written by zanet copyright © 2006
Real estate agents are demanding up to £1000 from buyers. We reveal the con here on Rental property management.
Real Estate Agents - the issue
For many years it's been every home movers nightmare, not just the moving and the hassle of packing up home, not just the outragous taxes, stamp duties and other moving costs. The thought of paying estate agents for whats often known as "money for old rope". Well the governement has now told them to clean up ther act. Though this was raised in June 2004 and still nothing has been enforced
The tricks real estate agents use
England house purchasing process needs to be undergoing some dramatics changes. Estate agents are asking buyers for upto £1000 backhanders to enable them to have the properties they want ahead of the crowd. This is a total missuse of position and yet has gone on for years. The money lines the estate agents pocket and is never seen coming off the house price or future fees.
Outrageous Fees
While a % is used as an estate agents fee, the work involved in sales doesnt reflect the payment. You could market most properties for a few hundred pounds, yet the average payment is between £3000 - £5000.
Undervaluing
To get a quick sale, estate agents will undervalue a property, tha sale takes place with minimal work and the fees taken are easy money. This is why it's recommended that a homeowner always takes three independent valuations before agreeing to go with an agent.
Estate agent lies
Never, surely not. In 1979 and act was passed to make it legal that alldetails are to be accurate and passed on to the property seller. In fact, this is rarely enforced.
Gazumping
A study showed that one in five buyers were gazumped. This was often due to esate agents marketing properties while under offer.
In Ireland they have moved away from the percentage system as prices have gone out of control. The average cost to sell a house is around £700, which is a lot lower than the average 1.75% that estate agents ask for in England.
Identify your market, This free guide is so useful, so book mark it and use it at the start of each new project.