Getting the Better of Estate Agents

A former estate agent, Pav Sheen has written a book exposing some of the underhand tactics used by estate agents to make more profit.

He has published a book Tips, Tricks, Traps: Everything You Need to Know About Estate Agents

These are some suggestions from his book: Tips for Getting the Better of Estate Agents:
Buying a House

1. Ask Questions and Demand Answers - When you are viewing the property, ask questions and insist on getting answers. For instance, “Why so many cracks in the wall? Is this subsidence?”. Your questioning will both elicit information and put the agent off-balance.

2. Don’t Display Emotion when Looking - Avoid Getting Over excited at a Property You Really Like - Avoid Emotion. It’s like playing poker

3 Come Across as Being an Experienced Buyer. If you are not, pretend to be experienced or bring a friend along.

4. Avoid Gazumping Get a Friend to Check whether the estate agent is still accepting offers after yours has been accepted. If so there is a danger of being “gazumped”

5. Speak directly to the Owners. If you mistrust the agent, get the offer directly.

Selling Your House

6. Get Free Valuation. If you want a free valuation for your house you will probably need to say you intend to put it on the market.

7. Don’t be misled by a minimum contract term. This is a tactic to try and avoid competition

8. Reduce Commission. If the agent asks you to accept a reduction in the price of your house, why not ask them to have a similar % reduction in their commission.

9. Use Competition between Agents. To get the best offer from an agent, tell them you have been looking at the competition and they have made a good offer

10. Beware of overly social estate agents. As a general rule the longer you spend with them the more likely you are to sign up with them.

• UK Housing Market