Estate Agent appears to be downplaying our property.

kit

abaxas wrote:

I apologise if I offended the valiant and honest profession of estate agents.

However EAs always work in their favour. Like any business does, if anyone implies anything else they are liars.

A car salesman doesnt want to get you a good deal, he wants his comission...

A financial adviser doesnt want to sell you the right product, just the product that fits his critera best..

An estate agent....

OMG - this is so not true.
You have been dealing with the wrong type of people if you have found this to be the case.

I can highly recommend a person in each of these professions that are out to get what is best for the customer, not what is best for them.
In the long run, they get money no matter what they sell, all that varies is the amount of money.
No everyone is money grabbing you know.

Triker

Hey all, cheers for all your responses.
Just to answer a few queries

AMILLIONDOLLARS The house is up for a guide price of £175,000 the offer was for £170,000.

MrsS, hi, yes I did get a number of valuations, coming in at 175, 190 and 200 to 215 thousand! Eek, so we went with the 175 as a guide price as all EA's that valued said because it's a unique property it's best to go with a guide price.

Noyk, we are chain free so in a good position re this factor. We are not looking to buy yet so it's not an issue.

Ta for all your responses.

Doozergirl

Tyders wrote:

Personally I think you are full of ''you know what''. Screw anyone over - i think not and as a person in the industry I resent that statement. YOU will actually find that if you workd in this job it tends to be greedy vendors who want more than their houses are worth.

Oh please. :rolleyes: It's pretty obvious from the OP that the estate agent is a manipulator. You don't happen to value a property for a client, introduce a buyer immediately and then start saying how lucky they are. Something's wrong - it's either your sales technique or your 'professional' valuation. Estate agents work for themselves and many will manipulate and twist the truth and put doubts in the mind of both vendor and buyer in order to secure a deal.

I've had it done to me and I complained immediately to the sales manager. I'd had twelve viewings that weekend and my buyers made three subsequent offers up to full asking price, despite the agent's threats. I've also had an agent tell me I was lucky to get asking price which is simply outrageous when when it was their valuation.

There are greedy vendors out there, but somehow they always seem to find an agent, even when it's obvious they've priced themselves out of the market. Who is it that still decides to take them on at that price, rather than give it to them straight?

The process of getting an offer accepted is a game and it really does depend on who can play better as to who gets the best deal. I've nothing against estate agents, had plenty of experience of them, but many, many of them just don't cut the mustard and use poor sales technique, as the OP describes, to tie up sales.

Doozergirl

Based on your valuations Triker, I don't think I'd be best pleased with the agent's attitude either. If the individual involved is management, I'm not sure I'd sign that contract, even. Make them work for their money! Get the best deal out of this potential buyer or use another agent.

If you have signed the contract, then I'd be sitting down with a manager and discussing your problems. Make a list with bullet points and try to be succinct.

Edit the details yourself, if you like, and ask them to make the relevant amendments. As long as there is no misdescription, there's nothing to say who has to write the blurb.

What made you choose this particular agent, btw?

Triker

Hi Doozergirl

Well I chose then because they are independent and also because they appeared to spend a bit of time considering the valuation s opposed to just jumping in with a price.

They were also the lowest valuation but said it's a guide price rather than an asking price. I'm still not clear about what this means although I have sought advice from the boards re this (of course).

Also I didn't want to be greedy just realistic re the house price.

Thanks for your advice though, it's all helpful.:)

UK007BullDog

If you got an offer before the place was marketed and it is below your guide price then either:

1. you are lucky to get a quick sale
2. They want to buy it themselves and then re-market it at £215,000 raking in at least £30,000 for themselves.

My current property never hit the books either. The lady selling walked in while my hubby was looking at other properties, overheard and it was a done deal right there and then. I went to look at it in the evening just to make sure I liked it too and it was ours.

However your property might be special. It sounds like a dream. Something like that I would love to retire to. I think others might feel the same. I think you should go multi agent and make sure your property ends up on the INTERNET so lots of interested people can see it. Do not jump to the first offer. Especially if it is not yet officially on the market. It just sounds too dodgy.

Angela_D_3

I think this "buyer" is a friend of the estate agent too, at least put it on the market (with 2 agents) and see what happens if the first ones right well you've lost nothing have you.

Tyders

I would suspect an sole agency agreement has already ben signed for a minimum of 10 weeks. Not many estate agents would let someone out of this agreement early if they think they could sell the house in this period. It is worth asking though as i personally have done this numerous times - if they have nothing to hide then there is no problem with it. Perhaps this is the reason im not a rich estate agent - damn this pesky conscience!