Phil Spencer reveals the one thing estate agent’s say that you should never listen to

Especially if you want to sell quickly
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  • If you are looking to put your home on the market this year you’re probably going to need the help of an estate agent. However, before you go for any old estate agent, Phil Spencer has a top tip for choosing an estate agent that you need to hear.

    Related: Phil Spencer explains why an older home might not be the best choice for a first-time buyer

    The presenter and property expert best-known for hosting Location, Location, Location, is also the co-founder of Move iQ. He regularly shares his top property tips to help potential sellers and buyers get the best deal.

    In an interview with Express.co.uk, he revealed his key advice for sellers when choosing an estate agent. If you are looking to sell quickly for a good price Phil Spencer’s choosing an estate agent tip should get you on the right track.

    Phil Spencer’s choosing an estate agent tip

    ‘When you’re selling your home, it’s vital to choose an estate agent you’re happy to work with,’ Phil Spencer says. ‘It’s extremely important to look for someone who is experienced, enthusiastic and helpful.’

    Phil Spencer choosing an estate agent tip 1

    Image credit: Jeff Spicer/PA Archive/PA Images

    However, the expert warns against choosing an estate agent that suggests the highest asking price. He warns that while a high valuation might sound appealing, it could make the property tougher to sell.

    ‘Quite often I see properties that don’t sell simply because the asking price was too high from the outset. It’s off-putting to buyers,’ advises Phil Spencer.

    ‘As time goes by, the house doesn’t sell and buyers assume there’s a problem with the property. In these instances, the house is sold for less than if it had been realistically priced in the first place.’

    Phil Spencer choosing an estate agent tip

    Image credit: Colin Poole

    Avoid falling into this trap by asking around for valuations. This will help you gauge what is a realistic asking price that could help your home to sell more quickly.

    ‘It’s vital that you get at least three separate asking price estimates from agents before picking one,’ says Phil Spencer.

    Phil Spencer choosing an estate agent tip

    Image credit: Colin Poole

    ‘Some agents have been known to quote a high initial asking price, in order to win your business, but will then urge you to start dropping the price soon after you’ve signed up,’ explains the property guru.

    If you are in any doubt about the asking price a potential estate has quoted you. Maybe it sounds too good to be true. Phil says always go with your gut instinct.

    Related: Phil Spencer says you should do THIS if you want to buy a house by 25

    ‘It’s important that you trust your instincts,’ explains Phil. ‘Look at what other similar properties in the area have sold for.’

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