Price Toppers Report for August
Today we take a look at the monthly round up of Price Toppers for August. Price Topping is the tactic of overvaluing a property at an attractive (but unrealistic) price to entice the seller to sign a contract. Later, the High Street agent will then advise the seller to reduce the price in order to sell the property at a price more in line with the actual market rate. Ultimately the agent still gets a percentage of the sale as the seller is locked into a long contract with that price-topping agent! As you can see from the chart for August, many of the traditional High Street agents are guilty of regular price topping. This is why here at Edward Giles we don’t lock our clients into long contracts.