Building a relationship with the Estate Agent
June 14th, 2010
Estate Agents have a legal and moral obligation to act in the best interests of the vendor; after all they are the ones paying their fees. No Estate Agent should ever advise a client to accept an offer which could be detrimental to them so whatever your relationship with them do not expect this. Where a good relationship with the Estate Agent can be invaluable is: –
In a rising market.
When house prices are rising and there is a shortage of property on the market, the vendor may have accepted your offer but if you have not exchanged contracts any higher offers that come in the Estate Agent must pass these onto the vendor. A good relationship could see the Estate Agent let you know when if any offers are received, or helping you re-negotiate your offer and making sure your offer is the one the vendor finally accepts also the Estate Agent will be more receptive to progressing the sale at a quicker pace to exchanging contracts by making sure any obstacles in the way are dealt with rather than being left on the desk.
In a declining market
When house prices are falling and there is a glut of properties on the market, you will find Surveyors will start to down value properties, your relationship with the Estate Agent will become invaluable if you find yourself in the position where your purchase has been down valued and you need to re-negotiate your price down, remember the Estate Agent must at all time act in the vendors best interests, so your relationship with the Estate Agent is vital if you want them to convince the vendor that your offer is the best offer they will receive.
Over the years Happy Homes have built up excellent relationships with Estate Agents and this enables them to offer, exchange and complete on the purchase of properties within excellent timescales reducing the amount of worry and hassle for its clients.