Thoughts from a potential buyer

NervousYetFeisty

Want to take it a step further?
Once your house is up for sale, mystery shop the agency and judge how it promotes your property. Ask for properties of similar spec and see if it recommends yours, and whether it recommends it well.

(from http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1106688587,89908, )

I'm looking to buy and am surprised how useless some EAs are. I know that the EA is working for the vendor not me, but they need people like me too! I've come accross some terrible photos and website entries, and I have been chasing property details from one EA for a couple of weeks now. Perhaps they've run out of stamps.

If any of these sellers mystery shopped, they'd drop their lazy EAs like a stone. I hope they do, then I might stand a chance of actually buying one of their houses

lush_walrus

Its like everything in life though isnt it, there are good and bad in every career.

As you say the EA works for the vendor, but of course they need you too, ultimately without buyers there are no sales.

I might be biased, but they do also have to work pretty hard and time isnt always there for anything.

EAs do also have to filter out time wasters as buyers dont always behave themselves very well either and you would be surprised how many of those there actually are. There are lots out there who make appointments only to never actually turn up, not really caring that in some cases the vendor has taken time off to show people around, then there are those who decide to put in offers with no idea what they can actually afford, the list goes on.

The thing you really need to bare in mind is that despite reports to the contrary in a lot of areas there are still a hell of a lot of potential buyers out there and so really if you want the best service and to be the first to be told about new properties then get yourself known by the agents in the area you are looking. Rather than just calling or checking on websites go and see them and try to be remembered. Be specific about what you are looking for and when you start seriously looking call in a coiuple of times a week. That way the EA will know you are a serious buyer and will remember you enough and understand what you are looking for enough to call you when something which may be what you are looking for comes up for sale. Also be polite and respectful to them, you are up against people same as everywhere else, and if you get those people to like you they will equally help you. If you are rude or critical they really wont put themselves out very much for you, as someone who is hassle before finding somewhere, will (in my experience) be hassle when the sale starts and EAs want to avoid that for themselves and for the vendors!

The thing that you need to remember is that as a buyer you do not have the same choice of agency as a vendor does. If you like or dislike a particular EA you cant really afford to block them off of your list as it may well be that that EA has the property you want for sale.

NervousYetFeisty

Thanks for the tips, Walrus!
I am very polite (I think), but I can see that EAs get annoyed with timewasters. I wouldn't dream of breaking an appointment for a viewing and the reason we've not booked any viewings yet is that we've not got far enough along the mrotgage process to feel happy about making offers. It seems reasonable to me that one wouldn't book viewings without having one's finances arranged as far as possible. We will be ready very soon though, hence my frustration!
At least one of the properties I'm interested in has been on the market for months and months. Perhaps the seller has annoyed the EA!

rizla01

Hmmm EAs - second only to the dreaded Double Glazing Rep, IMHO.

lush_walrus

NervousYetFeisty wrote:

Thanks for the tips, Walrus!
I am very polite (I think), but I can see that EAs get annoyed with timewasters. I wouldn't dream of breaking an appointment for a viewing and the reason we've not booked any viewings yet is that we've not got far enough along the mrotgage process to feel happy about making offers. It seems reasonable to me that one wouldn't book viewings without having one's finances arranged as far as possible. We will be ready very soon though, hence my frustration!
At least one of the properties I'm interested in has been on the market for months and months. Perhaps the seller has annoyed the EA!

Hahaha, yeah maybe!! Good luck with the search, it will all be worth it when you get your keys to a lovely place.

By the way if you do have any specific questions as you go along, feel free to pm me I try not to loiter too much in the property sections these days, but am more than happy to help.

lush_walrus

rizla01 wrote:

Hmmm EAs - second only to the dreaded Double Glazing Rep, IMHO.

Always try to remember they are just people, same as you are and although it is very easy to tar the whole bunch with the same brush, realistically Im sure you cant really beleive that a profession with more than 40,000 people in really contain exactly the same people?

This kind of comment always amuses me as ultimately how many EAs has anyone really come across in comparison to the rumours they like to spread!

Personally I own a small chain of EAs so that must make me the real real bottom of the pile and route of all evil, but then Im also a qualified architect, so I wonder if that changes my level up or down in comparison to the double glazing rep!!!!.

meanmachine_2

Lush, on average what % of buyers are time wasters?

I'm keen to get the perspective from "the enemy", as I'll no doubt be looking again in earnest for an overpriced dump in Spring.

Being a highly professional, considerate person, what can I do as a buyer to help the agent? And what are total faux pas?

It's a serious enquiry. I loathe agents, as you know, but I would like to know what makes the "ideal buyer" and what makes for a nightmare buyer.

rizla01

Hi Lush,

Actually my comment was rather tongue-in cheek , meant to arouse the passions. No offence meant!

I was a successful DG salesman for 14 Years after a brief spell (18 Mths)in EA and my partner owned & ran a chain of four EA offices in Essex.

Probably like yourself, she too was sick of the lazy EA's that bring the business into ill repute. She at least did the job properly and like me was very proffiicient at progress chasing and in keeping the customer well informed along the way - something that is almost forgotten these days it would seem. Then again we were both trained by one of the best - Bairstow Eves!

I now do quite a bit of buying and selling and find the 'spotty nosed little oiks' to be very annoying to say the least. Then again perhaps I'm just getting old.:)

distilled

In the New Homes Industry we have a saying. "All buyers are liars" and this is probably the case among EAs too. I agree entirely with previous posts, if you're a serious buyer, give out the right signals and you'll get first class service.

lush_walrus

meanmachine wrote:

Lush, on average what % of buyers are time wasters?

I'm keen to get the perspective from "the enemy", as I'll no doubt be looking again in earnest for an overpriced dump in Spring.

Being a highly professional, considerate person, what can I do as a buyer to help the agent? And what are total faux pas?

It's a serious enquiry. I loathe agents, as you know, but I would like to know what makes the "ideal buyer" and what makes for a nightmare buyer.

Hi MM,

There are all different levels of time wasters, some arent really a worry or a problem at all but others are and create no end of problems. I would say:

On the mailing list: probably 40% of people registered never actually view anything. Which although of course there are costs associated with sending info out to them etc, they in themselves do not create any problems.

Potential Viewers: Probably about 3% call to make appointments without even knowing the area or have ever been to the area. These are a problem, as just incase they are serious you have to make the appointment for them even though in the back of your mind you have a feeling that they will not turn up. Probably about another 10% of people who make appointments do not turn up due to not going to see the area before making the appointment and then driving up and realising its not what they want. As they rarely call to cancel and when you call they ignore their phones, these people and the ones above create the most problems. As ultimately the vendor is sat at home waiting for the potential buyer to arrive, who by the time we have all concluded that they are no shows are probably back at home drinking tea. These people are the bain of any EAs life without a doubt, although it is fair enough to not want to go into a property when you get to the area, the least the person can do is either knock on the door and tell the vendor or else call the EA and let them know. By contacting no one everyone is left in limbo wondering if they are going to turn up, and this can go on for a couple of hours, while the poor vendor has to put their life on hold.

The upshot is also that if you get a few people doing the same thing in a row, normally quite common in less desirable areas with what appear to be bargain houses then inevitably the vendor starts to doubt that the EA is doing their job properly or is making the viewers up. Vendor gets annoyed and takes the property off the market to put it on with someone else.!

Day trippers: These come in all shapes and forms and amazingly find it amusing to go and view properties they have no intention of buying and often can not afford! There arent too many of them, but they exist and soon become pretty known in EAs. But what can you do, they may well have been to view 200 properties over the space of 2 years in all different price ranges, but how can you really block them from viewing, you cant!

Vendors with no intention of selling: Now these really amaze me, ok the people that ask EAs to value their properties every six months or so are nearly understandable as they obviously have an obsession in finding out how much their property is worth. But the ones that go to the extent of putting it on the market and waiting till they get an offer to take it off again, now these are crazy, who wants people wondering in and out of their house for nothing! Probably about 4% of vendors are like that.

Threatening: Again the bane of life for everyone involved, the people that threaten to pull out in the hope of getting extra money off or to hurry along something that cant be hurried. I can understand it is stressful but why pull out threats which help no one! It can be either buyers or vendors who pull this stunt and to be frank it never really works. If a vendor threatens to pull out as they want the sale to be exchanged and completed in the next week the only thing you can do is point out that all of the people in the chain have spent out money and that if they do pull out then they will not speed the process but slow the whole thing down as they will be back to square one. Sometimes explaining works, sometimes it doesnt but either way one little threat upsets everyone in the chain. If the buyers are trying to get things done, then unless there really is a pressure to move, leave it be. A good agent will continually chase the chain & solicitors to make sure that everyting is going along ok, so leave it be. Hassling and threatening is not big and not clever!

People who offer on two properties: Again very annoying and unfair to all involved. These people watch everyone shell out money, find properties to move to, knowing that they are still unsure which way to go.

People who offer only to disappear: Normally these are people who after offering, find something else they like. But rather than calling and withdrawing their offer, they leave it exactly where it is and avoid any calls.

People who lie about their status: These are the people who say they are cash buyers, sold, whatever they think will make their offer attractive only to later confess that infact they havent sold and their property isnt even on the market!

People who offer when their property isnt on the market: These people are very frustrating. They offer on property then expect the vendor to instruct the EA to take it off of the market and accept their offer. No vendor is really going to ever do this. Depending on where the property is, it could take years for the property to sell, how can anyone really expect someone to take their property off of the market on the speculation that their property may sell. whats even more frustrating about these people is that when they do eventually sell, if they find that the property they wanted has been sold they scream blue murder, accuse the EA of gazzumping and refuse to remember that they have already been told that the property will continue to be marketed. My advice would be never offer on anything without haivng sold your own property, without having sold you are not in a position to buy anything so offers are worthless.

There are probably lots of other types of messers that I have forgotten about, but that is a sample of what you have to deal with.

My advise if you are buying get to know the EAs in the area you are looking. Rather than sending emails or enquiries from rightmove, go in in person and try to get them to remember you. EAs get lots of emails day to day and calls requesting being put on the mailing list, so if you just stick to that you are just one of a number who will receive the standard send outs, generally days after the property has actually come on the market. If you get to know them, then when something that fits your criterior comes onto the market the EA will call you and then you get the chance to be one of the first to see it. If you remain a faceless, personalitiless piece of card then you will be clumped in with the rest of the unknowns.

Make sure that you know what area you are looking in, what type of property you are thinking of buying and how much you genuinely can afford. But within that try to be a bit open minded to other options, if you genuinely need a garage then fine stick to it, but if infact what you actually want is space to store junk or a property that you wont have hassle to park around then something without a garage may still be the perfect thing for you.

Turn up to all of your appointments, if you cant make it then dont hide, call the EA and be upfront. Simularily if you did go to see the outside last night and its not your thing, then call the EA and let them know. If you are late for an appointment, again call, as leaving people sat in wondering if you are coming frustrates the vendor and equally frustrates the EA.

Be honest if you dont have a mortgage arranged then say so dont put in an offer pretend that the mortgage is in place then try to arrange it in the meantime as fast as you can, because you will still be slow in comparison to if it were arranged and everyone will get twitchy and think something is wrong.

When you find the property you want and the offer has been accepted then be patient. Give the vendor a chance to find somewhere to move to and dont start issuing threats if they havent within a couple of weeks. The EA will be in touch with the vendor and checking that they are viewing things and making an effort, so if you are worried speak to them. Infact, do keep in touch with the EA, simply calling to ask how things are going is fine and will re-assure the EA that everything is fine and that you are a genuine buyer. Patience is a virtue in these things, be understanding of the vendor needing time. A vendor is in a far worse position when looking for a property than a first time buyer, the FTB has all of the time in the world to find somewhere, where as realistically a vendor can only just start looking when they have an offer, so bear that in mind.

Whatever you do walk into the EA with the attitude that they are just people, rather than they are people that are going to stich you up. Most wont, of course there are good and bad, but give them the benefit of the doubt and try to help them to help you.

Then you will be fine!

lush_walrus

rizla01 wrote:

Hi Lush,

Actually my comment was rather tongue-in cheek , meant to arouse the passions. No offence meant!

None taken, Im just a bit tetchy about all the stick EAs get!