After a colleague employs a ‘illegal’ manoeuvre, an estate agent is ‘left aghast’ – ‘this may happen.’
A REAL ESTATE AGENT has disclosed some of the tactics used by agents when dealing with buyers and sellers. “Totally unlawful” was one of the strategies they’ve seen an agent utilize.
An estate agent with over 20 years of experience working for several agencies has exposed some common techniques used by agents. The estate agent, who goes by the moniker “The Secret Estate Agent,” claims to have witnessed both “scandals” and “corrupt” tactics used to entice customers. To prevent certain “pitfalls,” the agent advised getting a second opinion and seeing a house for yourself.
There are a slew of methods that estate brokers are prohibited from employing.
Most estate agents are members of the Property Ombudsman and must adhere to a set of guidelines.
According to GetAgent.co.uk, an agent can be penalized if they contravene the restrictions outlined in the Code of Practice.
According to The Sun, the “Secret Estate Agent” was left “aghast” after witnessing a colleague “dramatically undervalue” a house for an elderly woman before buying it for himself.
“This is completely illegal,” they added. But I’ve seen that happen before, so I’m sure it happens elsewhere.
“If you have rogue agents willing to take advantage of the system, this can happen to anyone.”
An estate agent’s responsibilities include determining the worth of a seller’s property.
A seller may choose to have their home appraised by various agents before putting it on the market.
They’ll then pick the best or most fair valuation and agent for them.
According to a Yopa spokeswoman, while appraising a home, realtors consider the location as well as nearby facilities such as transportation and schools.
They will also consider what renovations have been done to the property, if it has good views, whether it has expansion possibilities, and whether it has been well-maintained.
According to The Secret Estate Agent, an estate agent will often compliment what you have and use “sales patter” to try to persuade you to choose them while appraising your property.
Are you looking for a new house or just want to take a look around? Please enter your postcode here or go to InYourArea.com. However, it’s critical that you make your own decision and don’t feel compelled to do so. “Brinkwire News Summary.”