Phil Spencer shares a warning about estate agents: ‘Be careful what you let out’


Buying a property can be a very stressful experience, but a real estate agent should help alleviate some of that stress. Phil Spencer, the founder of Move iQ, shared his tips for getting the most out of a real estate agent.

Phil, who also co-presents Location, Location, Location on Channel 4 alongside Kirstie Allsopp, has shared his ‘simple tip’ that can ‘transform the process’ of selling or buying a home.

He said in a video for Move iQ: “I have a simple tip that can transform the process: make friends with your real estate agent.

“Now I realize this could be a revolutionary concept, but like all the best ideas, it’s simple and it works.

“Most agents are just honest people trying to pay their own mortgages.

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However, Phil said buyers should be “a little careful what they leak”.

He said: “Good estate agents are great relationship builders, but just try to remember that they are in sales and trained to earn your trust.

“It’s often said that over 70% of buyers spend 20% more than they expected and that’s why estate agents take you to places you can’t afford hoping that you will fall in love with it and throw caution to the wind.

“Some agents, believe it or not, have viewing goals to achieve, so they need to get as many views as possible.

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Phil said he thinks estate agents are a much maligned breed when in his opinion they are much more bothered by the public than they intentionally misbehave themselves.

However, if buyers are feeling suspicious and not being told the truth, or if the agent is hiding something, buyers should ask a direct question.

Phil added: “Or ask the seller, ask your lawyer, ask another agent in the same office.

“If you’re still not sure, ask them again and I promise if anyone’s bluffing, it’ll come out eventually.”

Location, Location, Location is available to stream on All 4.


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