Property for sale: The estate agent ‘trap’ you must watch out for when moving home
SELLING a property can cause a great deal of stress for homeowners. While estate agents can be useful, they may not always offer the best advice. A property expert explained the “trap” you must avoid.
The property market has opened up again and many Britons will be looking to move post lockdown. When selling a house, estate agents can help homeowners through the process. However, there are some misleading pointers to look out for.
Most estate agents will do their best to make the selling process easy for homeowners.
However, some agents may not offer the best advice, founder director of estate agent James Pendleton, Lucy Pendleton, stated.
She explained there are some common tricks and tips sellers should be wary of.
For example, certain estate agents will offer advice that benefits them more than the homeowner.
“Weak estate agents love encouraging clients to find somewhere to buy before putting their property on the market with them,” Lucy explained.
“This is the complete opposite of what you should do and is designed to make life cheaper, quicker and more profitable for the agent, not the customer.”
Doing this could ultimately help sellers get more money for their home.
The expert added: “Strong estate agents tell their clients to put their homes on the market early.
“That way they won’t have to sell in a hurry, and accept less than they might otherwise have got.
“The customer will also get more value for money from their agent who will have to work harder, for longer, in pursuit of the best price.”
Before selling, some people will make renovations to update the house.
This can make it more appealing to potential buyers and potentially increase the value.
However, not all homeowners will benefit and they should be wary of advice to do so.
Lucy continued: “Another common trap is being told to improve your home and perhaps add another bedroom before selling.
“A lot of people will then spend £45,000 putting in a loft conversion that only increases the value of their home by £45,000.
“Once you factor in your time, effort and inconvenience you’ve made a loss so most of the time it isn’t worth it.”
Britons should consider the benefits of making renovations to their property before doing so.
Moving is already a stressful experience for homeowners and they should watch out for advice that may not be useful.
Original Article by Sarra Gray – Express