When selling a home, Phil Spencer discusses the “one break” that real estate brokers aim to prevent.
Phil Spencer, a real estate guru, has offered some purchasing tips. Regardless of the health of the real estate market, the star of Location, Location, Location explained that there is “one break agents want to avoid.”
It’s no secret that the real estate market has been soaring in recent months, with prices nearly monthly reaching new highs. While this is a wonderful step for vendors and purchasers, it has been difficult work for those in the real estate transaction business. Despite all of their efforts, property expert Phil Spencer has revealed “the one mistake” that estate agents wish to avoid, especially in a crowded market.
“There may well have been occasions in recent weeks when any agent would have been forgiven for needing a break – the workload has been exhausting, as it has been for everyone in the property transaction business,” he wrote in an article for Estate Agent Today.
“However, regardless of the health of the market, the one breach agents want to avoid is when a vendor turns around and withdraws their item.
“It’s a setback for the agent, who would have spent time and money marketing the property and conducting viewings, and it’s also a setback for the seller.
“After all, we’ve been saying for months how hot the market has gotten, but their property hasn’t sold for whatever reason.”
When this happens, Phil explained, an estate agent might adjust their strategy to ensure that your property sells.
An estate agent may “disagree” with your rationale for pulling the house off the market, according to the co-host of Location, Location, Location, but they should find out why you did it.
An estate agent might believe the home is expensive or badly displayed.
However, you may believe that the marketing was ineffective or that there was a lack of communication.
So, what should a real estate agent do in such a case?
Phil advised them to “propose new strategies” based on the information you gave as a vendor.
Taking new images, revising the details on the agent’s website, or offering a virtual tour are some of the suggestions made by the Move iQ Founder.
“I was struck by a piece on Estate Agent Today recently claiming that only 4% of houses featured on Rightmove and Zoopla had virtual tours -,” he continued.
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