Five ways to spot a rogue agent
1. Ask them why they are quoting this price guide. If they can’t give a clear answer and waffle a lot about “buyer feedback” you might be dealing with a rogue.
2. Ask for their list of recent sales and see whether you agree that these properties are a fair comparison.
3. The rogue agent will do everything in their power to avoid taking any pre-auction offers. They may say that the property HAS to go to auction or they may be terrible at returning phone calls and responding to emails. If you make a pre-auction offer that is above their price guide put it in writing. If the vendor rejects the offer they will have to increase their guide by law.
4. Most rogues will publish the bottom price as their guide. The intention remains as it always was – to be under where they think it will sell. (But please don’t take this tip to infer that all agents who quote the bottom price are rogues…) We have also seen some creative terminology that a few agents are using in order to get around the new rules.
5. Rogue agents are often very difficult to get hold of, hard to pin down and will often talk in riddles.
Published:- 11 April, 2016
Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.