Paddington Real Estate Agents, things to be wary of
You put a lot of trust and faith into your estate agent, that they will always work in the best interests for you, that they will find you a perfect home for a lower price than you wanted to pay and that they will be able to sell your property for more than the initial asking price. We assume that our estate agent is honest and reputable, but unfortunately, this isn’t always the case with estate agents. Some agents work in their best interests, pushing you into things or tricking you into making snap decisions and doing whatever they can to make sure that they get the biggest commission cheque possible. If you are looking for a real estate agent in the Paddington are, there are some things that should make yourself of and be wary of to avoid making any of the mistakes and falling into the same pitfalls that many people before you have:• Things estate agents will do to try to get your business:o They will overvalue your home, promising that they have the ability to sell it for more than it is worth. o They may provide fake documentation showing similar properties in the area that they have sold recently for a high price, they will sometimes even erect fake ‘sold’ signs on properties to make them look better, even though they had nothing to do with the sale. o May offer to provide you with fake documentation and other things that will make it easier for you to secure a mortgage.• Misleading photo’s: estate agents have been known to save time for themselves and use photographs from another similar property instead of actual photos of the property itself, to advertise the property. Further to this, they have been known to photoshop photographs to improve how the house looks, for example getting rid of anything unsightly close to the home, such as overhead electricity and telephone lines etc. This makes viewing the property for yourself essential before putting in any offers on the home. It is also worthwhile getting yourself the floor plans or blueprints of the property so that you can the dimensions and size of the house for yourself, you can see if the layout matches the photographs and that the structure of the house is as represented in the photos. If you cannot view the home for yourself, perhaps you live too far away from the property, why not try video calling or skyping the estate agent and getting them to walk you around the home. • Estate agents have been known to try to increase the amount you are willing to offer on a property or rush you into making quick and rash decisions. Some apply pressuring or scare tactics, such as getting a friend or relative to call them when they are showing a property to you and pretending that this is another couple who is interested in the property and is making an offer themselves. Another trick that they use is scheduling two viewings at one time, making believe to each couple that the other couple is really interested in the property. • Estate agents don’t always tell you everything, for example if they received an offer on the house that is less than the initial asking price, the estate agent may not tell you as they do not want you to accept a lower offer and reduce their commission cheque at the end of it. Often estate agent won’t reduce their commission rates if the house sells for less than the asking price. • It has been known for estate agents to accept an offer on the property but continue to show people around the property in hope that they will find someone with more money who is willing to pay more than the first person, this is called gazumping. • Estate agents have been known to sell a property to a family or friend or a cheaper price than the asking price.