Understanding Estate Agents
At the end of the day the job of an estate agent is as follows:
- Advise on the rental or sales price and strategy
- Create the marketing materials for the property to rent or sell
- Call your best people first and get them through the door
- In lettings it is not uncommon for sealed bids also known as best & finals. Like an auction, agents push for the best price and terms for their client. The landlord or seller.
- The seller / landlord pays the estate agent
- As a relocation consultant, I represent the tenant. I understand how agents think.
###Tips for Buyers & Tenants
- Keep calm. Don’t be pushed into making a rash decision
- Stick to your budget
- Include a 1-year break clause. Is a ‘safety net’ in case.
- Always ask for a professional clean. NEVER ASSUME
- Special Conditions: This is when you can ask for repairs, painting, furniture to be added or removed etc. Don’t be shy to ask.
- If a landlord or seller is ‘tricky’ in the beginning before you sign the contract, can be a ‘warning’ sign not to proceed.
- With buyers: If buying in a block, check there are no forthcoming works. If so, how is this being paid for?
- Buying or renting, check if the property is pet friendly? Many leasehold properties have no pet’s clause. An expensive mistake if buying. No joke.
Whether you are buying or renting you need to double-check everything. Once you exchange contracts on a purchase it is legally binding. Once you sign your tenancy agreement, the same applies.
For the agent the deal is now done.
This article was written by Russell Hunt, Founder of Pets Lets. With over 25 years as a London estate agent and London property search agent covering London and the home counties, and as a proud dog owner of a basset/beagle, establishing the Pets Lets Relocation Service was a natural progression.
We offer our expertise to clients globally, understanding that pets are not just animals, but our four-legged children, affectionately known as ‘fur-babies’.