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Overpricing!

Published: 15/01/2020 By Allan Fuller

There has been much comment recently in property media about agents who overprice property to gain instructions. It is a simple ploy. Tell a prospective client that their property is worth 10% to 20% more than it really is, backed up by some dodgy evidence, then sign them up on a lengthy contract term during which chip away at the price until it eventually sells.
 This is really doing no one any favours, in fact one commentator has likened it to fraud. Truth is that if a property has been on for months and not sold it gets a stigma and eventually may well sell for less than it could have done if correctly priced to begin with. There are stories of agents who give incentives within their office to see who can persuade their clients to agree to the largest percentage price drop.
 There is another practice that needs to be overhauled. It is amazing that many people do not read contracts when the sign them. Most agents contracts are for 3 months, but do not noticed the additional clause that anything from one to two months’ notice is needed in writing to actually terminate, which effectively ties the owner into a four ,or even five month contract.
 Our policy is to be abundantly clear in our contract, it is only 4 Pages, written in plain English, we saw a competitors recently that was 18 pages long! We are also highly flexible fitting our terms to suit each client.  
 Sometimes people ask us what advantage we have over large companies, well one vital one is that all policy decisions and any action needed to help a client is taken in our office. Large companies by their nature must have ridged policy and long chains of command with tiers of authority leaving little room to adjust for different client needs.
 No one who is unhappy with the service they are getting from a business should be shackled to that company.
 We want our customers to be happy with us and the service we provide, remember that, in the unlikely event you do ever have a query all you have to do is speak to Allan!