Unveiling the “I Have a Buyer” Estate Agent Ploy – Trick No.1 – Tortoise Property Blog

So today was a turning point. The day when I went, enough is enough!

It is time to call out some ‘slim shady’ tactics as the great Eminem sung about! Yes, the great tricks of estate agency.

Trick NO. 1 – I have a buyer!

Ring Ring…. Ring Ring

Agent: Look, I know you have agreed to work with Tortoise, but I have a buyer!
Owner: Really? That’s great! You really have one?
Agent: Yep, met them this week. They didn’t like the property I showed them, but they would love yours.
Owner: Cool, can you bring them round?
Agent: I’m not allowed until you sign a contract.
Owner: Can you tell me their name?
Agent: Not without a signed contract due to data protection.
Owner: You’re sure that they’re interested?
Agent: Oh yeah, I have told them everything about it!
Owner: When can you come round?

SIGNED ON THE…………….LINE

This happened today! The agent went round, signed the contract, and is going to bring the property to market for £350,000! I explained to the owner that I hear this promise on a regular basis, and it nearly always comes with an excuse. They changed their mind, they lost their job, they lost their own buyer, etc. etc.

Even better, the same home 50 meters up the street has just been reduced from £350,000 by £25,000 this past week to £325,000. It’s in better condition inside, better outside, and now is priced competitively. Therefore, if this person existed, they would have snapped that one up! But no, they are waiting for the next one, in poorer condition and willing to pay £25,000 more!

My Tip NO.1 – Single viewing contracts

If you want to call them out and see if they do have this buyer, sign a contract for a single viewing that states the name of the viewer. The contract should state that the fee is payable only if that single individual progresses with an offer that is accepted on your property and completes the sale.

No more commitment than that!

Every now and again, a buyer like this is about, so I don’t want you to lose out.

However,

“I’m Slim Shady, yes, I’m the real Shady

All you other Slick Salesys are just so cagey

So won’t the real Slick Salesys please ‘fess up,

Please ‘fess up, please ‘fess up?”

Mike Matthews @TortoiseProperty
Recognised in the Best Agents Guide as one of the best 20% of estate agents in the UK 2019, 2020, 2021, 2022, 2023

#OurDifference #TortoiseProperty #Peterborough #Hampton

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