An infuriated agent has hit out at an article in a national newspaper which slates the industry.
The Express has advised the public to beware of estate agents’ “tricks”.
For example, it advises buyers where the agent has told them that someone else has made a higher offer to demand written proof – even though this could breach data protection laws.
The advice quotes the HomeOwners Alliance warning about the trick, said to be used by estate agents to get buyers to offer more.
The article says: “This falsely increases what sellers will get, but also the commission estate agents will pocket.
“Buyers should always make sure they see something in writing.”
The article quotes the HOA as saying: “Your below-asking-price offer has been accepted, the property you are buying is off the market, and it’s all steam ahead towards completion.
“Then the next week, the estate agent calls to say that someone who viewed the property previously has put in an offer a few thousand pounds above yours. You smell a rat.
“If you suspect this is a false bid, challenge the estate agent and ask to see proof in writing that this third party exists and they are willing to make a higher offer.”
The article goes on to discuss another “trick”.
The article advises: “[Make] sure you don’t reveal the minimum you will accept for your home, if selling.
“While estate agents want to get good prices for the homes they sell, they also don’t want to work too many hours to get their commission.
“For this reason, they may be angling for their sellers to accept a lesser offer than they want.”
Surveyor Alan Batt said the article amounted to a gross misrepresentation of the industry, adding: “The advice encourages the breach of so many data protection and consumer regulation laws, I don’t know where to begin.”
Batt, whose business is in Wigan, went on: “There are approximately 20,000 agents in the UK, the vast majority of which work very long hours, with many open seven days a week, providing a professional service.
“We continually invest time and money into professional development, employ thousands of employees, trainees, graduates and apprentices, get involved in and encourage local community projects, and raise significant sums of money for a wide variety of charities.
“Most of all we care about all our clients whether they be buyers, sellers, landlords or tenants.
“But of course that doesn’t count as news.”
Comments (23)
So what?!!!
The buyer is often trying to get the place for less than the asking price when they can afford to pay more. The agent, quite rightly is trying to squeeze the buyer to their maximum or their genuine cut off price.
Attention to all buyers: Bid what you are prepared to pay or the max you can afford. If that doesnt secure the purchase, keep looking.
Toz4 only.
I think perhaps you need to read the article that kicked this whole thing off once again!
Misunderstandings are all about miscommunications mostly but I’m happy for you to have had the last word on this. It is, after all, a topical issue.
You mean you have no further word to offer. Your vessel is, as usual, empty.
It’s a free and democratic country (although you may well argue that one too!). Everyone’s entitled to their opinions. You don’t have to believe me if you don’t want to and I’m not trying to force you to – even if you may be.
I’d leave off the cooking sherry if I were you, Sir.
It’s done its job. You’re done to a crisp.
I’m alive and free, of such dogma
Some would say your posts strongly suggest otherwise.
If a newspaper such as The Daily Express publishes something like this, most people would tend to think about the analogy ‘There’s no smoke without fire.’ After all, the paper will have done some due diligence to verify the claim before publishing.
Surely those trying to rubbish this article here are not, for a moment, suggesting that the newspaper which published it, did so just to sell a few extra copies?
Note too, that it is only those in the same business as that of the accused whom are trying to undermine it.
In fact I have personal experience of estate agents operating in this way, so it doesn’t surprise me. Beyond earning extra commission, it helps them with justifying the price quoted on the next free property appraisal they do in the area and also, the kudos of the fact that it was ‘their’ agency that got the best sale price!
Sorry but I couldn’t resist commenting. 😉
“After all, the paper will have done some due diligence to verify the claim before publishing.”
Complete b0ll0cks, Mr Hendry – and you either know that and are just trying to chuck a lit firework into the room as usual, or are commenting on an article that you clearly haven’t read.
“Surely those trying to rubbish this article here are not, for a moment, suggesting that the newspaper which published it, did so just to sell a few extra copies?”
That is the point of every article in a newspaper.
“Note too, that it is only those in the same business as that of the accused whom are trying to undermine it.”
Possibly because they are ‘the ones who know the truth’…
“In fact I have personal experience of estate agents operating in this way, so it doesn’t surprise me.”
Share your experience for discussion, then. We can all say that “this” or “that” happened and leave it art that.
“Beyond earning extra commission, it helps them with justifying the price quoted on the next free property appraisal they do in the area and also, the kudos of the fact that it was ‘their’ agency that got the best sale price!”
Sorry, Mr Hendry – “retired” Chartered Surveyor, alleged ex-Estate Agent and absolute spreader of MDT extraordinaire – do you actually understand what the role of an Estate Agent is?
Actually – scratch that last one. You have given us irrefutable evidence that you don’t have a frickin’ Scooby on that account for the best part of ten years now.
Sorry but I couldn’t resist commenting… (insert ‘up your s0dding chuff, sunshine’ emoji here)
I love the fact that we simultaneously tricking buyers into them paying more than they want to whilst also selling the property for the lowest price the vendor will accept. Quality, intelligent, accurate journalism- but what do you expect from a journalist at the express who was at mail online previously.
Newspapers write to satisfy their political parties and their advertisers. There is no longer professionalism. Like politicians and the internet don’t believe what is written.
Just reading an article where a Newspaper has taken a 2 year old Facebook comment made by someone, to comment on a storm, named that person and used the comment from 2 years ago to describe yesterdays storm..!
Newspapers really should put their own ‘tricks’ in order!
Would not give the article a second thought or anything else that type of paper publishes.
their days are numbers.
hardly anyone reads a newspaper and they are giving them away for free
For the Public… the “trick” with Newspapers is don’t believe a great deal of what they write.
However, do believe that a Newspaper around your Fish n’ Chips is essential!
For all the hard working professional Estate Agents going about their business today – Happy Friday 13th 🙂
Does this article appear, by any chance, in a rag owned by a Billionaire non-dom, who has been desperate to get Brexit done before the new Anti-tax Avoidence Directive, along with Boris, Mogg et al?
I think he has a few more bob tucked away than the average estate agent.
So can estate agents write an article about why the public should ignore the made up stories , sensational headlines and downright lies penned by journalists ?
Go for it, iainwhite87 – I look forward to reading the published article!
Someone’s copied and pasted an article from the 80’s
I was literally thinking ‘1985 called – it wants it’s estate agent back’.
Well said Alan.
Lazy, sensationalist journalism. Some of my staff did not leave the office until almost 9pm last night (They are contracted only until 6pm). They want to return all calls before going home and offer the very best service.
Obviously we try to get the best price for a seller but trying underhand tactics at 1.5% we only make an extra £15 per £1000 it’s not worth jeopardising a sale to squeeze an extra 5k once the sale is agreed to ‘Boost’ our commission for a poxy £75!
Agreed. It just shows a fundamental misunderstanding of how to structure a deal, whether property or otherwise.
No agent would scupper a deal with a false bid that makes as you say £15 per thousand. Vendor makes £10,000 and you see £150. Then they swiftly completely contradict themselves by saying agents don’t want to work too hard to get a good offer for their sellers. But obviously hard enough to create false offers tgthat make them a row of beans.
Do these idiots ever consider the absurdity of what they say? More worryingly is that the Express journalist wouldn’t say ” Hang,on this just doesn’t make sense”