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Mon 18 May 2015
Caveat emptor......”buyer beware!” A common phrase in the property world to advise a purchaser that a property is being sold as seen or that full information about a property may not be readily available to them. I am however increasingly coming across the need to flip this on its head and say Caveat Venditor...........”SELLER BEWARE!”
The internet undoubtedly revolutionised the property industry through online marketing, street views of property, availability of historical transaction data at the click of a button, virtual tours, online reports and news articles from property professionals based in Mid Wales called Tom.............you name it, the list goes on. However there is a downside to the internet when it comes to selling property.
There has been a significant increase over the last few years of so called “online estate agents,” promising all sorts to their clients, from better service to cheaper fees compared to traditional “High Street agents.” Well, “CAVEAT VENDITOR!” I am seeing more and more that I am called out to property that has been on the market with an online agent but failed to sell, or to give my professional advice to potential clients who have spoken also to an online agent. My major concern is what I am consistently being told by the owners of these properties relating to the advice that they have been given by online agents.
I felt compelled to put pen to paper when last week, following a string of occasions where clients have been given questionable advice by online agents, I visited a delightful property, the owner of which had also contacted one such company. I was horrified to learn that the online agent in question had sent a representative to carry out a “valuation” on the property with no knowledge of the local or regional property market whatsoever and they had over priced it by £175,000! I was gob smacked to say the least. Bad advice, bad customer service, bad for consumers and bad for our industry!
We traditional agents are here doing what we do for a reason. That is to provide our clients old, current and future a comprehensive and professional service when it comes to selling their property utilising the very latest technology both on and offline. Of course the internet plays a huge part but it is not the be all and end all, we wouldn’t do what we do if it was! Face to face contact with a professional who has invaluable local knowledge and experience within a very tough property market is the key to getting the right result when selling the most important thing you own, your home.
So if you are thinking of selling this year, CAVEAT VENDITOR, SELLER BEWARE! Do not be drawn in by false promise or over inflated pricing, I guarantee you will suffer in the long run. It is a big decision choosing who you wish to sell your property, but make that choice carefully and opt for someone with integrity, comprehensive marketing both on and offline and most importantly someone who knows what they are talking about!
Tom Carter - Newtown Office (01686 623123)