An online estate agency claims it has evidence traditional agents have attention spans “not that much longer” than goldfish when it comes to the properties that they market.
House Simple claims that traditional agents lose interest in homes they are marketing if no offers have been received within two week.
The online agency, in a poll of more than 2,000 people who have sold a property in the past 12 months, says 50 per cent felt their agent’s commitment to sell dropped off considerably after the initial marketing period, and by the second week they felt they were already having to chase the estate agent for updates.
House Simple also claims “it is not uncommon for high street agents to promise an unrealistic sale price to get sellers signed up only ... to quickly recommend a price drop once the property is marketed.” It claims 51 per cent of those polled revealed their agent suggested they drop the asking price soon after marketing began.
The poll also suggests 21 per cent of those surveyed regarded half or more of those would-be buyers who came to viewings were actually time-wasters - in London and Wales that figure rose to 40 per cent.
“Agents only receive their commission once a property is sold, so they need to secure an offer quickly. Once they have you signed up, their interest in your property can wane rapidly if an offer doesn’t materialize” claims Alex Gosling, House Simple’s chief executive.
“Sellers shouldn’t feel under pressure, but often do, to lower the price to attract a buyer, especially when viewings dry up. And the agent is in a much stronger position to suggest dropping the price, when the seller is tied into a contract.”