It seems it really is tough times for almost everybody in South Africa.Reports are now surfacing of estate agents, desperate to get their commission quickly, deliberately under-valuing properties to encourage speedy sales.
This is pretty despicable, as we all know many property owners are already really suffering and some are even facing the prospect of going into negative equity.If property owners are convinced by agents that their homes are worth far less than what they really are they could stand to lose hundreds of thousands of rands.
While it must be extremely difficult for those working in the property industry at the moment it is no excuse to abuse a position of trust.Most estate agents are fully aware that their earnings are commission based and that there will be slow times as well as good times.They should not punish the people who enable them to do the job they have chosen.
This is certainly not always the case and your estate agent has probably given you a very fair evaluation.To set your mind at ease when considering an agent for the sale of your property treat them as you would any other potential employee, check their references.Ask them if they have passed the their NQF examinations, this should give you an indication if the person is interested in bettering their career prospects.
Also ask them what market research they have to back their evaluation and how many sales they have actually had in the last year.A reputable agent will have no problem supplying any relevant information to you.
As a seller you should be very comfortable with the person you entrust to sell your home, not only do you allow them access to your home but they are directly involved in how much money you will receive for the property.If you feel your agent doesn’t have your best interests at heart or that they are perhaps bullying you into a sale don’t forget that it is your home.Report the person to their superiors if necessary or if they don’t have any or don’t help you contact the EAAB (Estate Agency Affairs Board).They will be able to advise you as to what to do next.
If you check out your agents credentials you should have no further problems and by using a company that has a reputation to protect you should be able to trust them to get you the best deal possible.If you suspect an agent is trying to get a quick sale for their own sake take the appropriate steps to protect your investment.Ignoring it could cost you alot of money.
