How unscrupulous are Estate Agents?

shoequeen111

In the middle of house sale negotiations via estate agent, we have just turned down the vendors first offer [as is quite normal!]. The agent has come back and given us all the reasons the buyer says we should accept his offer. Perfectly normal situation up until now, but now the agent is saying he will carry on looking for a new buyer for us.

Do I take it the buyer has withdrawn his offer? If so, why did he go to such lengths to explain why his latest offer is such a good one?

Or ...... could the estate agent be playing games, maybe trying to make me think the offer has been withdrawn, thereby scaring me into accepting the lower offer???

The difference in price is minor by the way!

new_home_owner_3

shoequeen111 wrote: »

In the middle of house sale negotiations via estate agent, we have just turned down the vendors first offer [as is quite normal!]. The agent has come back and given us all the reasons the vendor says we should accept his offer. Perfectly normal situation up until now, but now the agent is saying he will carry on looking for a new buyer for us.

Do I take it the vendor has withdrawn his offer? If so, why did he go to such lengths to explain why his latest offer is such a good one?

Or ...... could the estate agent be playing games, maybe trying to make me think the offer has been withdrawn, thereby scaring me into accepting the lower offer???

The difference in price is minor by the way!

if you are the seller you are the vendor, not the buyer, as for the estate agent i dont trust them, a lot of them seem bent.

tanith

In answer to your question I would say that the majority are, VERY !!

shoequeen111

oh yes, you are right thanks

princessamy86

Or....you could actually ask the agent if the offer has been withdrawn? Perhaps the buyer can't afford to up their offer? Or the agent knows them as a notorious timewaster? You'd be pretty annoyed if you accepted an offer, marketing was stopped and then the sale fell through! I would have thought they were spot on doing their job to keep looking for a buyer when you had rejected an offer!

googler

Are you the seller/vendor? If so, the agent is, believe it or not, working for you. So ask him questions. Get him to explain.

"Do I take it the buyer has withdrawn his offer?" - ask your agent if this buyer has formally withdrawn the offer.

chickmug

shoequeen111 wrote: »

oh yes, you are right thanks

You will find some very helpful ones (EA's) on here providing you don't slag them off as well.

LandyAndy

shoequeen111 wrote: »

In the middle of house sale negotiations via estate agent, we have just turned down the vendors first offer [as is quite normal!].Generally correct


The agent has come back and given us all the reasons the buyer says we should accept his offer. This is what he should do, it's an extension of viewer feedback. He might even offer you advice as to the validity of the reasons.


Perfectly normal situation up until now, but now the agent is saying he will carry on looking for a new buyer for us. Of course he will. You haven't accepted the offer so he has to look for a different buyer.

!

You have employed the agent and will be paying him a substantial fee for his work. As his employer ask him any questions you like. He isn't doing you a favour by selling your house.

I suspect many disgruntled sellers criticise their agents when they themselves are, at least partly, at fault for being unclear and indecisive in their instructions.

Imp

You never know, maybe the buyer is not a time waster, and has put his best and final offer to the agent as their first offer, making it clear that if you don't accept it, then he can not buy your house. That's what I did when I was buying a house.

As for the agent saying he will carry on finding another buyer for you, that is what he should constantly be doing, until you decide to take the property off the market, either because you don't want to sell it or you have found a buyer.

Sounds to me like the agent is being completely professional to me.

chickmug

LandyAndy wrote: »

I suspect many disgruntled sellers criticise their agents when they themselves are, at least partly, at fault for being unclear and indecisive in their instructions.

I like it because it can be so true:beer:

Gwhiz

What LandyAndy said!