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Phil Spencer shares warning over estate agents: ‘Be careful how much you let slip’

Buying a property can be a super stressful experience but an estate agent should help alleviate some of that stress. Phil Spencer, the founder of Move iQ, has shared his tips for getting the best out of an estate agent.

Phil, who also co-presents Location, Location, Location on Channel 4 alongside Kirstie Allsopp, has shared his “one simple tip” that can “transform the process” of selling or buying a home.

He said in a video for Move iQ: “I have one simple tip that can transform the process – make friends with your estate agent.

“Now, I realise this might be a revolutionary concept but like all the best ideas it’s simple and it works.

“Most agents are just decent people trying to pay their own mortgages.

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However, Phil said buyers should be “a little bit careful how much they let slip”.

He said: “Good estate agents are excellent relationship builders but do just try and remember that they are in sales and they are trained to win your trust.

“It’s often said that more than 70 percent of buyers spend 20 percent more than they ever set out to and this is the reason why estate agencies take you to places that you can’t afford hoping that you’ll fall in love with one and throw caution to the wind.

“Some agents, believe it or not, have viewing targets to meet so they need to do as many viewings as they possibly can.

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Phil said he thinks estate agents are a much-maligned breed when in his opinion they get messed around by the public far more than they intentionally behave badly themselves.

However, if buyers feel suspicious and that they’re not being told the truth, or the agent is hiding something, buyers should ask a direct question.

Phil added: “Or ask the vendor, ask your solicitor, ask another agent from the same office.

“If you’re still unsure, ask them all again and I promise you if somebody’s bluffing it’ll come out eventually.”

Location, Location, Location is available to stream on All 4.

SOURCE: https://www.express.co.uk/life-style/property/1670956/phil-Spencer-estate-agents-warning-property-market

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