The Real Problem With Real Estate Agents

The Real Problem With Real Estate Agents



The Real Problem with Real Estate Agents
Real Estate Agents - the​ issue
For many years it's been every home movers nightmare, not just the​ moving and​ the​ hassle of​ packing up home, not just the​ outrageous taxes, stamp duties and​ other moving costs .​
The thought of​ paying estate agents fees for​ what’s often known as​ money for​ old rope .​
Well the​ government has now told them to​ clean up their act .​
Though this was raised in​ June 2004 and​ still nothing has been enforced.
The tricks real estate agents use
England house purchasing process needs to​ be undergoing some dramatics changes .​
Estate agents are asking buyers for​ up to​ £1000 backhanders to​ enable them to​ have the​ properties they want ahead of​ the​ crowd .​
This is​ a​ total misuse of​ position and​ yet has gone on for​ years .​
The money lines the​ estate agents pocket and​ is​ never seen coming off the​ house price or​ future fees .​
Outrageous Fees
While a​ % is​ used as​ an​ estate agents fee, the​ work involved in​ sales doesn’t reflect the​ payment .​
You could market most properties for​ a​ few hundred pounds, yet the​ average payment is​ between £3000 - £5000.
Undervaluing
To get a​ quick sale, estate agents will undervalue a​ property, that sale takes place with minimal work and​ the​ fees taken are easy money .​
This is​ why it's recommended that a​ homeowner always takes three independent valuations before agreeing to​ go with an​ agent.
Estate agent lies
Never, surely not .​
In 1979 and​ act was passed to​ make it​ legal that all details are to​ be accurate and​ passed on to​ the​ property seller .​
In fact, this is​ rarely enforced.
Gazumping
A study showed that one in​ five buyers were gazumped .​
This was often due to​ estate agents marketing properties while under offer .​
In Ireland they have moved away from the​ percentage system as​ prices have gone out of​ control .​
The average cost to​ sell a​ house is​ around £700, which is​ a​ lot lower than the​ average 1.75% that estate agents ask for​ in​ England.




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