Price Topping Round Up for July
In today’s blog we look at the monthly round up of High Street Price Toppers for July. Price Topping is the age-old tactic of overvaluing a property to get the seller to sign a contract with the High Street agent which locks them in for a long period. Later, the agent will then usually advise the seller to reduce the price in order to sell the property at 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 agent! As you can see from the chart below 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.