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The property guru warned: “The end result will be that your home is left without strong representation at the estate agency.
“To avoid this happening and spot this ahead of time, research your local estate agents in advance and find out whether they typically sell the type of home for which you’re trying to find a buyer.”
4. Tactical fear of loss
According to property expert, Bryce Holdaway, estate agents can often invent phantom offers. He said: “As soon as they know that you’re slightly interested in the property, it’s amazing how quickly there’s another buyer. It taps into the emotion, it taps into your fear of loss and, therefore, you may be prepared to pay an emotional price for the asset.
“My advice on that is don’t necessarily fall for this tactic. Chances are, there might be another buyer; but equally, it could just be another tool the agent is using.”
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