Can you trust the EA?

SteveoB_2

We are currently house-hunting and found a place we really like, we saw it on the weekend and again yesterday and are seriously considering making an offer. It is on the market for £210k and the estate agent has just called saying that he wants to be honest with us, and the vendors have said they will not accept less than £200k. He also said that there is another buyer who is interested that had a second viewing yesterday and is going to make a decision on Monday.

Does this sound like cunning estate agent tactics to get us to make an offer of £200k? It is the limit of what we would pay for it, but obviously we don't want to pay for any more than we want to!

Any advice would be greatly appreciated.

Robert_Sterling_3

The Estate Agent is trying to get the best deal for his client.

If he can start "a bidding war" it might help his client.

Doozergirl

Offer what you want to offer.

It's a misconception that the EA works for the vendor. The EA works for themselves. To get dinner on the table they need to see houses sell. Phoning up potential purchasers and telling them they have to offer high does not help the EA get a sale - a % of nearly 200k is a lot more than a % of nothing. I think he is probably telling the truth when he says they won't take less as there's no gain to him saying this.

Whether or not these other people exist, you will find out. Don't offer any higher than you would have done without that piece of information. Ultimately, it shouldn't matter what the EA says, you carry on down the path you were going.

poppysarah

Let the EA say what they want.

Has it been on the market a long time? Or has it just reduced it's price?What's its property bee history?