Estate Agent's words when putting offer

Doozergirl

HomeBuy3780 wrote: »

This is really surprising!!! Can I speak directly to property owner? I thought its illegal? Obviously I know the address of property and the seller stays in the property, so I can just go and speak? I don't think so...

You can do your own negotiations without the EA. There's nothing illegal about it.

If the EA has introduced you to the property then they're entitled to their fee from the vendor but there's no law that says you have to use them for negotiations, in fact for anything, as long as they get their fee if they're entitled to it.

princeofpounds

Not remotely illegal! The only thing is that the vendor will still have to pay the EA fee as they 'introduced' the sale.

googler

Doozergirl wrote: »

You can do your own negotiations without the EA. There's nothing illegal about it.

If the EA has introduced you to the property then they're entitled to their fee from the vendor but there's no law that says you have to use them for negotiations, in fact for anything, as long as they get their fee if they're entitled to it.

However, there is the possibility that the seller may be (a) single female, (b) elderly, (c) disabled/disadvantaged, or in some other 'vulnerable' category, and they hired an estate agent specifically so they wouldn't be dealing with (perhaps pushy) buyers directly.....

You may receive short shrift if you approach these selllers directly.

chickmug

googler wrote: »

You may receive short shrift if you approach these selllers directly.

You may but is doesn't stop some folks from trying the direct approach. Nearly all my sellers would refuse to talk to them and refer them to us. A very small minority take it a step further and try and get the seller to agree to sell direct and cut the agents commission. The sellers then call us to tell us about the person and their lack of integrity. One of the last people to try this was a serving policeman!

moneysavinmonkey

Last x3 properties I have made serious enquiries about...

1) there are a number of people interested it is best and final offers today (I declined to offer) - still 'available' on the market 6 weeks later

2) put in a cheeky offer on a dooer-upper and was told another "cash buyer" has offered more than you, so we left it with our lower offer - still 'available' 4 weeks later

3) just viewed a house yesterday, agent already left me an answerphone message saying they already had 'several' offers and are waiting to hear whether we are interested before they do anything. I don't think we will offer anyway though.


This is through 3 different estate agents. I don't know what is going on- is the market picking up or is this just the normal 'spring bounce'? If there are some many offers why are these properties still listed as available? Do estate agents really lie this much, multiple people being interested is putting me off so it's not helping them make a sale as far as I'm concerned!

chickmug

moneysavinmonkey wrote: »

Do estate agents really lie this much, multiple people being interested is putting me off so it's not helping them make a sale as far as I'm concerned!

It would appear many do but you must realise that many don't and there could genuinely be other interset. In my case the activity seemed to concentrate on certain properties at any one point of time. The times I wished some of those chasing one place would show some interest on the lesser desired ones.

One minute you are on the phone to one seller reassuring them all is being done and fingers crossed that a viewer would turn up soon. The next call could be a seller saying they can't cope with all the viewings you are sending can't we cut them down or have a break for a week.

As an agent I would find it impossible to keep telling lies as my memory wouldn't be able to cope.

Bermuda_John

i have been dealing with an estate agent, i got 15% off the price.

I got all the stories, other parties, wont budge on price etc.

The best way to deal with estate agents is to play them at their own game.

If they introduce a third party on the sellers side, then you should introduce a 3rd party..... ie. the seller has to comnsult with xyz before tehy can accept. You then reply to their response with ...... im not sure i can increase my offer i will have to consult xyz!

if they say there is a higher offer, ask them to send you some similar properties on their books.

Never increase your offer by more than £1000, it makes your first one look fake.

Make the seller think they have won any negaotiations.