Dealing With the Estate Agent

The Article

When you are buying a home dealing with estate agents is not as hard as some people think. Estate agents can sometimes be the butt of many jokes and as a whole, they don’t seem to have a very good name for themselves. Although some have got a reputation for being untrustworthy you cannot tarnish all of them with the same brush. There are probably more honest ones out there who do a very good job as well.

Although there are a number of people buying houses using the Internet, buying privately through newspaper ads and a few other direct sources, the majority of people still go through the estate agents Burnham to get their houses. Most people’s first port of call is the agent’s window when they are looking for a house. If you look at the larger websites on the net it will be full of estate agent’s houses for sale. Even driving down the road you will probably see estate agents boards with a number on it to call them to arrange a viewing.

Dealing with an estate agent is fairly straight forward as long as you know some of the rules. The estate agent works for the vendor. They are the ones paying the agents wages. The higher price that can be achieved for the sale of the property the happier the vendor and the more commission goes into the estate agents pocket. However, if you are buying a properties to let in Virginia Water, by law every offer that is put in must be forwarded to the vendor. So if the agent says to you that the vendor would not accept such an offer, you need to insist that the offer is put forward anyway. The Estate agents are legally bound to treat you fairly so if you feel you have been misled in any way or they have been economical with the truth in the sales particulars, you can complain to the NAEA, The National Association of Estate Agents () and you could be due for compensation. When choosing an agent make sure they are registered with the association.

Normally the quickest way to buy a house is through an agent so you may have to deal with them sometimes. If this is the case always remember the rules. They do work for the vendor and so may try to play you off against other buyers to try and raise the price of the property. They could say things like “We have already had an offer from such an such and the vendor hasn’t accepted but we know if you go near the asking price you will definitely get it” When you do present an offer, it may be wise to have the help of a solicitor to submit your offer with conditions that no other offers are accepted for a set period. That saves you being gazumped while you are sorting out the legal side. Try and build a relationship with the seller as well as the agent so hopefully, if the agent does try to do the dirty on you the seller may let you know.

So play the game and as long as you stay one step ahead of the estate agent you will be fine.