How to spot a pushy estate agent and what to do about them when thinking about selling your home
Having your property valued can be a nerve-racking experience; it isn't something you do every day, after all. But when you have an estate agent in your living room, what should you do if you feel pressured into making a decision on the spot? Read this article to find out more...
Have you ever felt uncomfortable around salespeople? When your spidey senses tingle, and you pull away from them as soon as possible? Of course you have - none of us likes to be sold to. It can feel disingenuous and as if you are being manipulated into buying something.
Pushy salespeople can be a huge turn-off, and we tend to come into contact with them where commission payments are involved, particularly in car garages or furniture shops. You know, the places where you walk in and the sales staff start circling like sharks, trying really hard to make eye contact so that they can strike up a conversation with you. And the automatic reply to the innocent enough, "Do you need any help?" It is a quick and firmly spoken "No thanks, I'm just looking." Even if we do need help choosing or have questions about a specification, as a form of self-protection, we would rather wait until we are 100% sure that we are going to buy rather than engage in conversations with salespeople.
But what if there is only one salesperson, not a whole team of them? And what if they are sitting in your living room?
When we invite estate agents into our home to provide us with a valuation, it is because we want to know the information they will give us. The dynamic is somewhat different than when you are in a store or a showroom. And perhaps that is why our guard is down?
So, when you are having your property valued, what should you be wary of? Where does the boundary lie between the agent showcasing and highlighting their knowledge and experience and them pushing you into signing a contract with them?
You want to know about the ability and expertise of the agent, so there needs to be a certain element of sales pitch, but there is a line. And that line is when a sales pitch turns into 'pushy' sales, which looks like:
- Pressure to sign up right now - you should be given time to consider the information you've been given and decide how you would like to proceed. Selling your home is a huge undertaking and not something you should jump into.
- Scarcity tactics - You should not be convinced to sign contracts with anyone based on scarcity tactics. It is a powerful method but is not altogether ethical. Scarcity tactics would be if you were told that a buyer would be perfect for your property and are actively looking to buy, but they might have found somewhere, so you had better be quick before purchasing something else. The chances are that there is no perfect buyer.
- Increasing fees or a fee deal with a looming expiration date is a pressure tactic to speed up your decision-making. If you take a few days, the fee will be higher, so you had better decide now to get it cheaper.
- Agreeing to your opinion of valuation without providing any advice, guidance or evidence as to what the property value could or should be is, unfortunately, a common and not particularly ethical practice. This ensures that the valuation price is favourable because it is essentially your preferred price. If you have signed a fixed contract of, say, 16 or 20 weeks, the agent will be able to put your property on the market, and when there is no offer forthcoming, they can simply advise you to reduce the price.
What can you do instead to protect yourself from pushy salespeople and fixed contracts that tie you up?
- Take your time - don't allow yourself to be pushed into signing anything or rushing to make a decision, regardless of scarcity or pressure tactics.
- Consider all the evidence provided by all the agents you speak to.
- Take an average of the valuation suggestions and then choose the agent you are most impressed by or 'gel' with. You will be working together for many months, even if the sale is agreed quickly, so you need to get on and trust each other.
If you want honest advice, helpful guidance and expert information when you sell your property, get in touch with our property experts today.