OMG! BBC Whistleblower - Estate Agents

Cristy

What worries me about this debate is the number of people that hold the view that cheating EAs are amiable scoundrels whose "white lies" are really in the interest of both vendors and buyers. Any such behaviour from other professions would have caused outrage (or worse!).

Oh and BTW - I have heard the 'lots of people are interested' lie so many times before, it is practically meaningless now and would not influence me to offer on anything any quicker or higher than I would have done anyway (this site has helped a lot though!)
Perhaps barb should think about revising his sale strategy (mind you, there's one born every minute so it might still work for some!)

nickmack

The fact is that this kind of misrepresentation and sometimes outright lying is prevelant in all sales environments.

Pressure is enormous from both your own sales targets and competitors. In the majority of sales work., If you play everything exactly by the book, you would be fired quite quickly.

These reasons are why I would hate to be in a sales job. I couldn't stand lying and manipulating people. I know lots of salespeople of different levels and in different industries, they all admit to lying, forging signatures and misleading. It's part of the job.

It's also the reason why all salespeople I buy from get a short shrift from me and I do my research and let them know who leading the transaction.

NAR

I think the program will have come as quite a shock to young people and potential FTB's. It's easier for us more street wise people to say "no great suprises in that program." But for me there were still some suprises - the lengths some people were prepared to go to make money, especially off the elderly - "he's 72 and doesn't really need the money!"

If this program saves even one person from being duped then it will have served its purpose; however I think it will have helped several thousand in how they deal with EA's in the future.

Bit that made me laugh was at the end when it was disclosed that the reporters had been threatened with two private prosecutions; obviously a veiled threat to silence them, which failed miserably!

nickmack

Bit that made me laugh was at the end when it was disclosed that the reporters had been threatened with two private prosecutions; obviously a veiled threat to silence them, which failed miserably!

Another exampe of cowardice and the depths some will sink to. You notice they were attempting private prosecutions at the journalists themselves. Big company trying to bully the individual. Not at the production company or the BBC. Makes me detest vultures like this even more.

MORPH3US

Programmes like that make the licence fee bearable. I still think that they should abolish it (although thats a different discussion for another time) but theres nothing better than a programme that sends a few conmen onto the dole queue (or prison) and helps Joe Public who works hard for a living!

M

nickmack

MORPH3US wrote:

... but theres nothing better than a programme that sends a few conmen onto the dole queue (or prison) and helps Joe Public who works hard for a living!

I'm not convinced any of these worms actually got fired. All the statements stated they were suspended and under investigation.

If they sacked someone for what happened on the programme they would have to fire most of their employees!

They didn't even bother to dismiss any of them to make an example if just to try and protect their reputation. Pathetic.

Jay1b

I'm sure the BBC will cover their reporters back with legal assistance if need be. But i cant realistically seeing Foxtons getting anywhere with that anyone....and empty threat really.

I just kind of feel sorry for the (honest) people featured in the episode, such as the american couple. How gutted must they be feeling? Especially as they didnt blank out their faces. And she worked their for 2+ months, how many people must she of seen being ripped off and not warned them!

Now i just want to know of some bent estate agents, i could do with a hugely underpriced house.

madfrenchgirl

i watched this knowing about all those practices... nothing surprised me at all

I used to work for a lettings agency: it only lasted 2 weeks before I resigned, they were chop-chopping and were bullying people into signing contracts.

When I starte dint he first week, I started fine and had good figures and I did not pressure anyone into anything. I got told off by my boss once because some Chinese people who only spoke Englsih (I was in France at that time) were ready to sign the contract without reading it but I insisted on translating everything to them. She got !!!!!! at me because I wasted my time on them and could have signed a lot more contracts during that prcious time.

Then the second week went awful: they tried to make me stick to a certain sales pitch which was making me appear fake to potential customers. Of course I did not make that many sales, and their bullying attitude did not help. Had to that that they started putting me int he back office chop-chopping and then I was out.

I did do some sales job in my short life, I always prided myself on not lying noer pressuring people into anything because this is the way I would like sales people to treat me.

The other practices that were used int hsi programme I already knew about: how do yout hink some people manage to get a house while it is obvious they dont own a penny (the forgin papers case)? How do yout hink some builders make profits in some areas where BTL mortgages are a lot more expensive than the actual rent they get (robbing the elderly case)? How do yout hink the market is getting over-inflated (the Foxtons hypervaluation case)?

The robbing the elderly case was not unknown to me: Richard Hammond did show this practice during Brassed Off Britain and did trap a "nice family-run estate agent". However, the amount of moeny the elderly was getting robbed off got me physically sick with rage: 1/3 of his property was getting lost!!! And he does not need the money!? What about paying the care home where he is going to go? What about his descendants?

stanmoresaver

NastyMatt wrote:

But these companies only exist because "we" (the customer) use them. If we did not they would never exist. I'd imagine everyone who is on this forum is here for the same reason(s) and are wise or getting wise to these charlatans - be that Foxtons or MSB or what ever the next "money hungry get rich quick" company that comes along is.

You only need to experience one of these types of companies to recognise the next one!

Absolutely-

It's similar to a obese person suing McDonalds because they didn't know it would make them fat, or a 40 a day smoker with lung cancer suing the tobacco companies. People need to walk in the real world

It happens, it's not right but the consumer is far more likely to influence it by being aware (and at times cynical) than bleating on in shock horror when examples of it are shown on a sensationalistic prime time TV programme.

AndrewSmith

Back in the late nineties I used to work as a broker in a large cahin on estate agent's (one of the biggest in the south at the time).

I caught the branch manager taking a cash bung of £10,000 from a developer to blow out my mortgage customer from the purchase and sell the house cheaper to the developer. The Branch manager actually had the cheek to phone my client and tell them that the property had been taken off the market and that the sellers had changed their mind. He then told the seller that the buyer's had pulled out and they had no other interest other than this developer.

I only found out because, unknown to the branch manager, I was arranging the mortgage for the seller also so I was in contact regularly with them.

I though it was a bit strange when the property file disappeared from the office. I also think that they Branch manager had muddied my name with the original buyers so they would not speak to me, as they would not return my calls.

Anyhow, he was in the middle of the transaction late on evening in the office when, working on a tip off, his area Director walked in just as the cash was being handed over. Classic.

He was fired and prosecuted by the Company for theft I think as he was using their resources but taking the cash for himself.

This sort of thing is exactly the reason I decided to 'go it alone' and have no sales targets or peer pressure. The only targets I now have are maintaining a comfortable living, which I do easily and without the stress of targets etc.

You have to remember though that the blame does not lie on the door of every estate agency office, as this is not indicitive of the industry as a whole.

You also have to bear in mind that on most occaisions a property is over-priced because the seller has an inflated opinion of what their home is worth and refuses to let the agent have the instruction unless they market it for the price they want. This is why most agents have conversations with their sellers regarding 'price reductions' because at the end of the day if the property doesn't sell, the agent gets squat!!

Also people reel in horror at the broker providing false payslips etc. I do not in any way agree with this practice or condone it however if you search on eBay you can buy 'reprints' of your lost payslips or p60's etc based on information you send to them by email.

As long as there is someone to buy, people will provide.


Andy