Putting in an offer and the sales techniques of EAs

chickmug

nixinix wrote: »

thought I should add my proof showed more funds available than my offer but my offer was accepted

I remember, last year, one person so eager to prove their finances they showed me paperwork proving they had money to the tune of £1 million pounds and were only buying somewhere to let at a fraction of that price.

I often have similar where the buyer knows the score and is extremely obliging yet I have those who see my asking the simplest and least intrusive of questions as "How dare you" question my integrity.

So my policy is:

DO NOT TRUST ANYONE UNTIL THEY PROVE THEY DESERVE THAT TRUST

dubsey

If it were a repo the EA will keep it on the market until exchange (they seem to in this area anyway) and then they put an ad in our local paper inviting higher offers. I remember seeing lots of these ads in the nineties, then virtually none until a few months ago. Our local paper had three ads for properties this week. So when buying a repo I think there is probably still an element of risk involved on what the final price paid is, which has nothing to do with the EA, but I daresay they would still be blamed for it.

hostman

When we offered on a property last month (which was accepted, sale process going through atm), the agent wanted us to talk (over the phone) to their in house financial advisor to "qualify" our ability to borrow. It is simply a sales tactic, if we opted to use their advisor, they would receive extra commission.

Needless to say, we already had an agreement in place with a family friend recommended IFA and so were not interested. Not accepting their advisor has not derailed the transaction.

Spend five minutes listening, then politely say thank you, but you're happy with your current arrangements.

chickmug

hostman wrote: »

When we offered on a property last month (which was accepted, sale process going through atm), the agent wanted us to talk (over the phone) to their in house financial advisor to "qualify" our ability to borrow. It is simply a sales tactic, if we opted to use their advisor, they would receive extra commission.

Needless to say, we already had an agreement in place with a family friend recommended IFA and so were not interested. Not accepting their advisor has not derailed the transaction.

Spend five minutes listening, then politely say thank you, but you're happy with your current arrangements.

Good for you and I am very happy with the property sales commission and do not look for extra from finance & countless other soruces. Unlike other EA's I know who brag about the amount they make.