• June 22, 2024

Greycoat Real Estate Buyers vs Agents: How Credibility and Respect are More Important Than Ever in UK Real Estate

The UK real estate market has been fluctuating quite a bit lately and it has left buyers and agents at one another’s throats, figuratively speaking. Greycoat Real Estate would like to remind everyone of just how important both respect and credibility are when doing business in this industry and how we should all maintain our integrity during these stressful times.

 

Buyers are Low-Balling Agents

 

Gregycoat real estate agency finds profitable opportunities. Looking to get the best deals and discounts possible, many buyers in the prime central London real estate market have started low-balling agents with offers that many call unrealistic at best and laughable at worst. This of course leads us to two major problems. Firstly, low-balling can be seen as insulting and may rub agents the wrong way. Alternatively, low-balling can make a buyer look naive and cause them to lose credibility.

 

More Price-Related Problems

 

According to Greycoat Real Estate, transaction volumes have gone down quite a bit in the past year; however, this doesn’t have to do with a lack of demand but is instead price-related because many buyers think they have an overwhelming advantage. Expecting a massive 20% price reduction compared to last year, buyers have been low-balling agents as previously explained.

 

It should be noted that discounts do exist but they must be found through respectful negotiation rather than through blatant displays of entitlement. On the flip side, agents need to be mindful that they carefully guide buyers through the negotiations without being insulting or condescending. The more respect both sides show for one another, the more likely they can come to a mutually beneficial agreement.