Buying a home is a milestone for many, but it’s also one of the most complex financial decisions you’ll ever make. While estate agents are there to facilitate the process, some might use tactics that prioritize closing deals over addressing your needs. At Home Sold Today, we believe in empowering homebuyers to make informed decisions. Here’s a breakdown of six common estate agent tricks and how to avoid them.
1. Overemphasizing the Importance of Location
The phrase "location, location, location" is a cornerstone of real estate, and for good reason—it affects property value, commuting convenience, and access to amenities. However, estate agents might overly emphasize the location, persuading you to overlook issues like the property’s condition or size. A house in the perfect neighbourhood could still be a poor investment if it requires significant renovations or doesn’t meet your needs.
What you can do: When considering a property, evaluate its overall value. Ask yourself whether the location justifies the compromises you’d need to make. Prioritize factors like layout, condition, and long-term suitability alongside location.
2. Creating a Fear of Missing Out (FOMO)
Estate agents often use urgency to push buyers into quick decisions, saying things like, “There’s a lot of interest” or “You’ll lose out if you don’t act now.” While high competition in the housing market is real, some agents exaggerate this to pressure buyers. Decisions made under pressure often lead to regret later.
What you can do: Don’t rush. Research the property, consider your budget, and seek independent advice. If you feel pressured, take a step back and reevaluate. Verify claims of high competition by asking for evidence, such as proof of other offers.
3. Using Vague or Ambiguous Language
Estate agents often use phrases that sound appealing but may mask underlying issues. Common examples include:
“Has potential” – Could require significant renovation or reconfiguration.
“Needs TLC” – May hide costly repairs or extensive maintenance needs.
“Cozy” – Often a euphemism for small or cramped spaces.
While not outright dishonest, such descriptions can mislead buyers into underestimating what’s required to bring the property to their desired standard.
What you can do: Ask for specific details about the property. For instance, if the agent mentions “potential,” inquire about the condition of structural elements, plumbing, or electrical systems. Consider a professional inspection for a clearer picture.
4. Encouraging You to Overbid
In a competitive market, estate agents may suggest that you offer more than the asking price to “stay competitive.” While this might sometimes be necessary, it’s also a tactic to drive up the sale price, benefiting the seller and the agent. Overbidding can leave you financially stretched, especially if the property’s appraisal doesn’t support the higher price.
What you can do: Set a clear budget and stick to it. Research comparable property sales in the area to gauge the property’s fair market value. If the agent pushes for a higher offer, request data or evidence to justify their recommendation.
5. Downplaying the Need for a Property Survey
Estate agents may suggest that a property survey isn’t necessary, claiming the house is in “perfect condition” or “recently renovated.” Skipping a survey might save time upfront, but it’s a risky move that could cost you thousands later if issues like damp, structural damage, or outdated systems are uncovered after purchase.
What you can do: Always commission a property survey, particularly for older homes or those priced lower than market value. A survey not only identifies potential problems but can also serve as leverage during price negotiations if costly repairs are needed.
6. Withholding the Asking Price
Some estate agents avoid disclosing the asking price upfront, aiming to spark bidding wars. This tactic can confuse buyers and lead to frustration. Without a clear starting price, you risk overpaying for a property that might not be worth it.
What you can do: Always insist on knowing the asking price. Transparency is crucial when making such a significant investment. Compare the property’s price to similar listings in the area and consult a trusted professional to evaluate its true market value.
Tips for Navigating the Home-Buying Process
Do Thorough Research: Understand local market trends, average prices, and the condition of properties in your desired area. Knowledge is your best defence against misleading tactics.
Work with Independent Experts: Hire your own surveyor, solicitor, or mortgage broker instead of relying solely on recommendations from the agent. This ensures you get unbiased advice.
Visit the Property More Than Once: Multiple visits can reveal details you might miss the first time, such as noise levels, lighting at different times of day, or hidden maintenance issues.
Ask for Documentation: Request energy performance certificates (EPCs), past survey results, and any planning permissions to ensure you have all the facts about the property.
Trust Your Instincts: If something feels off about a property or the agent’s behaviour, don’t ignore it. Investigate further or seek a second opinion before proceeding.
The Home Sold Today Promise
At Home Sold Today, we are committed to honesty, transparency, and prioritizing your needs. Our goal is to help you find the right home, not just close a deal. By understanding common estate agent tactics and how to counter them, you can navigate the home-buying process with confidence.
Your home is more than an investment—it’s a place where memories are made and lives are built. Take your time, ask the right questions, and make choices that align with your goals. For a stress-free and transparent home-buying experience, trust Home Sold Today.
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