Questions Buyers Should Ask Estate Agents
Topics: UK estate agents, estate agency services, property buying advice
In the UK the majority of properties are sold with the services provided by estate agents. In the media they do not receive the best press although to be fair the people who work as estate agents are a reasonable cross section of society. Fundamentally there are both good and bad agents operating in the UK, with current market conditions however it is the good agents that will prosper, as recession hits, those poor agents are likely to receive less business, to use a proverb it is like cutting the wheat from the chaff. But how can consumers, in this case buyers make the most of estate agents? What are the key questions to ask an agent before employing their services?
Fundamentally the agent is there to act for the vendor of property, it is their job to obtain the asking price for a property, or to get as close to the asking price as possible. It is worth remembering this at all stages of the process, that ultimately estate agents are sales people, there to sell a commodity to a buyer. Hopefully the following information will give buyers an idea of the right questions that should be asked when viewing properties and placing offers.
First and foremost it is advisable to ask estate agents why the property owner is selling their property. While some agents may hold their cards close to their chest, some may give the buyer essential information that will give an idea of the seller’s situation. It is unlikely however that the buyer will tell you that the seller is desperate to move, after all, their fee is calculated as a percentage of the eventual sale price so it is not in their interests to sell the property for a low price. That said, any information gained at this stage can help the buyer put forward a realistic and attractive offer for the property.
It is always worth asking agents how long the property has been on the market, once again this will affect the offer the buyers put in as a house that has sat on the market for an extended period of time will typically attract a lower price. Additionally, a property that has sat on the market for an age may have something wrong with it, either way; this question is a worthwhile one to ask.
The buyer can also gain valuable information by asking how soon the buyer needs to move; by obtaining an idea of the urgency of the move the buyer can gain an idea of how rapidly they must pursue the sales process. It is also usually worth asking estate agents who was involved in calculating the asking price, often this occurs after deliberation between seller and agent although some sellers choose to market their property at a price that they think it is worth, if this is the case, it is sometimes possible to gain the backing of the estate should they think the asking price is too high.
If the price for the property is not negotiable it can be productive to ask estate agents what other properties they have on the market for a similar price. Ultimately they are there to sell you a property and if the process for this particular house has stagnated, they will often be happy to offer another property in that area of the UK that is a similar price. Additionally, this can help in making a seller reduce their asking price, especially if it is too high.
It is hoped this article has given those buying property an idea of how to extract the most relevant and useful information from estate agents in the UK. An agent will work with you to secure a deal; in most cases they will be happy to answer these questions if it increases their chances of securing a deal.
Property specialist Thomas Pretty gives buyers some of the key questions the should ask UK estate agents if they want to secure a great deal. To find out more please visit www.haart.co.uk
Previous Articles Highlighter:
Why Your Trademark Might Be Your Most Valuable Asset (1)
A perfect example of a symbol that is an effective trademark are the golden arches of MacDonalds. When we see those golden arches we immediately make the mental association to MacDonalds hamburgers.
Global Macro Trading The Investment Strategy For Every Season (2)
By sticking yourself in a style box you are missing our on a world of opportunities. David Taggart writes more about generating absolute returns across asset classes and trading styles with Global Macro Trading at "www.themacrotrader.com"
Will The Credit Crunch Increase The Popularity Of Mercedes, BMW And Jaguar Leasing? (3)
2008 has proved a difficult time for the motor industry. As well as other considerations like the price of fuel and an increasing emphasis on greener more fuel efficient and ecologically friendly products car manufacturers and owners have had to take a long hard look at their behavior and face some difficult decisions.
Tips And Advice For Work At Home Mothers (4)
Use friends and family for support and make sure you reward yourself when you are doing well. Martin Reed is the developer and owner of a new online community for women at www.femaleforum.com.
Types Of Savings Account On The Market (5)
Understandably, with such a large bonus at the end of the year the saver is instilled with a saving ethic from the outset. Hopefully this article has highlighted some of the more common varieties of savings account on the market today.
Financial Auditing Fraud - What You Should Know (6)
Although the red flag does not mean any fraud has necessarily taken place, it does mean that there are circumstances which may warrant more in depth checking of data to ensure fraud has not taken place.
Continued Job Growth Makes CDL Employment A Great Career Choice (7)
They have to ensure that their trucks are in good operating order (i.e. brakes, working windshield wipers, proper oil levels, cargo properly secured, etc.) They must be able to recognize potential problems and report them to the dispatcher.
Making An MLM Business Opportunity Work For You (8)
Find out what the company's five and ten year goals are, and find out how you can fit into those goals as a MLM opportunity. Many would-be entrepreneurs choose MLM businesses because of the quick conversion rates and the satisfaction of network marketing they get when they implement the system.
Best Practices For Your Email Newsletter (9)
Obviously, if your newsletter isn't getting delivered, it's not getting read. Check your SPF record, monitor your reputation and sender score, register with the feedback loops. If you don't want to deal with the technical aspects, hire an expert.
Can Anybody Build A Website (10)
Websites can be constructed in a very basic form and even school children are taught to do just this. It is relatively easy to learn how to insert text, to make your site colourful and to upload pictures to catch people's attention.
Newer Articles Highlighter:
Networking To Find A New Job - What Is It? (1)
And how is it done? Because of the nature of the job market these days, many people fear that their current job may become obsolete. People are likely to need to reapply their skills into different jobs throughout their lives.
Enjoy Your Travel - Put Safety First (2)
Observe and be aware of the people around you. Somehow, you are going to feel uneasy if something is going to happen. Before you can travel to a foreign place, it is best to make a hotel reservation.
How To Buy A Wetsuit (3)
Flatlocked stitching is very strong and flexible but allows water to seep through needle holes. This is good for summer suits. Blind stitching will normally be used on more expensive winter suits and does not allow water through.
Car Care: How To Maintain Your Tires (4)
Proper rotation means moving the front tires directly back to the rear, and exchanging the rear tires with the front on opposite sides. Remember, your car or truck can have all the power in the world, but if it's not properly transmitted to the ground through the tire, it's all worthless.
Used Car Buying Tips (5)
These days you can even go online to companies like carfax, and get a detailed report that is certified. There is a general saying that lady driven cars are better but it is only a saying, buying the used car with proper maintenance history is much better than going for those lady driven cars.
Water Damage Trends And Historical Origins (6)
While the cleaning was taking place, all the windows in the home were opened to let the "fresh air" dry the affected rooms. However, unless you lived in an area with single digit humidity, your floors warped, and mold and dry rot developed in the walls and other poorly ventilated areas.
Low Cost Advanced Website Traffic Tactics For Everyone (7)
Make online friends and let them know about your website. This is an advanced website traffic tactic that advertises subtly but works effectively. Good thing about this is it doesn't cost you anything at all!
Breaking News! Travel Can Be Affordable For The Entire Family With Vacation Home Rentals! (8)
The city self-catering rentals were ideal for vacation or corporate rentals. A summary of the alternatives we saw in a nutshell are as follows: Hotels- Perhaps a little too formal, especially for a long stay.
How Real Estate Training Works (9)
Another approach to learning about real estate investing is taking classes. You could take a study-at-home course; there are many excellent study-at-home courses including some offered by accredited universities.
The Many, Different Trends In Chandeliers Lamp (10)
It is the place where you receive guests and entertain visitors of all sorts. It is best advised to awe them at first strike with lovely chandelier lamps right when they enter the house.