“They undervaluated my property just to make a sale....”

Sep 08,2006
By: 'rodley'
Sep 08,2006
1 people found
this helpful
They undervaluated my property just to make a sale.
Was this helpful? Yes
By: myspace
Feb 14, 2008
Myspace Estate Agents take customer service and client satisfaction very seriously and as the Managing Director since April 2005 I would like to personally apologise to anybody who has had a bad experience with us. Fortunately they are few and far between, but as in everything else, it is very difficult to please everyone all of the time.

Agents generally have a bad reputation. We overvalue to win instructions, we undervalue to achieve a quicker sale, we don't care about the purchaser because we are being paid by the vendor etc. etc. I am sure that some agents are like that but many of us aren't.

Myspace are constantly selling properties in the areas we cover. We have many clients who have been satisfied by our services and would recommend us, indeed some do. We never undervalue to achieve a quicker sale, and we never overvalue to win an instruction, indeed we quite often lose out to higher valuations, only to be instructed later on or to find out the property sold close to what we valued it at in the first place. As you can imagine this is very frustrating for us. We look at what we have sold recently and what has been sold by other agents in the area and using these comparables we offer our professional opinion on what your property could be worth, suggesting a marketing price also. If you would like to try at a higher price because of another agent's valuation then we would be happy to give it a go.

Our fees are not ambiguous in the slightest. We have a sole agency fee and a multiple agency rate. Often we are asked to negotiate those percentages, and depending upon the situation, we do. However, it is not our custom to offer to reduce our fees at a later time or have made promises of reducing it in the future. This I suspect is a miscommunication, but Myspace have no recollection of Rodley's instruction, so I cannot comment directly.

Finally, we are members of the Ombudsman of Estate Agents and must therefore follow a code of practise and have a duty of care. We believe in the valuations we offer and the service we provide and on this we try not to compromise.

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