Latest agent 'tactics' - One to watch out for!
As if they weren’t in deep enough trouble already, a new Estate Agent ‘tactic’ is being reported on the Internet.
It is reported that some Agents are asking sellers to name a range of prices instead of a single price. They explain that the seller stands a better chance of selling the house if they put in a range rather than a single price. (It’s difficult to really see the logic in this statement but that’s what is reported.)
The ‘wrinkle’ though is that their fee is fixed in the small print as x% of the HIGHER price. Obviously in this present market, any buyer will always offer the LOWER price (if not less), so it’s the seller that loses out.
Yet again the best advice is that if you MUST use an Agent, always check their terms and conditions with a fine-tooth comb to see where they are locking you in or benefitting from hidden costs.