Estate Agent deception

petek1st

If an estate agent has received two offers for my property but only puts forward one offer for £154k because they getting an additional bonus from the sale of a mortgage to that perspective purchaser but it turns out that the other offer is greater (£155k) but they tell me it is less (£153) and are not getting any finacial bonus from that prespective purchaser. Would that be in the realms of deception to defraud me?

GDB2222

It's certainly a breach of the Estate Agents Act 1979. Have a look here. http://www.oft.gov.uk/about-the-oft/legal-powers/legal/estate-agents-act/

Do you have any of this in writing, btw?

petek1st

Not in writing, I exchanged numbers with the potential buyer and asked them to let me know when they put in an offer. The text came through at 9am to say they had and at 11:30 I visited the agents where the lady there told me she had only received the call at 11am. I literally had to point blank ask what the offer was for as she had no intention of telling me, then she told me £153 and I spoke to the buyer 15 minutes later who said he offered £155k! They clearly are being bias towards the other buyer and at the same time are trying to defraud me out of an extra £1000. I am seething. I have looked at the OFT site and the ombudsman site and have collated enough ammunition for the show down when they return my calls. I was wondering if this might give me the right to cancel my agreement with them as I have totally lost all confidence in them.

GDB2222

I don't think you can do anything much about this, apart from switching agents and sending a stinking letter explaining why. The agency lady will just say that she was tied up all morning , was flustered when you came in, and got the time and amount wrong. For all you know, it may have been an honest mistake.

KateLiana27

As far as I know, it is illegal to not put forward any offer honestly to a seller, unless they have expressly told the agent they do not wish to be told about certain offers (eg less than x amount).

Don't let on that you know anything yet. Have the £155K buyer put the offer in writing to the EA, without letting on to the EA that you have had contact behind their backs. Then ask the EA to put the offers in writing to you. If they still try to deceive you - voila, you have evidence of their illegal activity in writing and this could get them into serious trouble.

This really shouldn't be allowed to go on, and you're in the rare and fortunate position of catching them red-handed, so make the most of it.

petek1st

The lady in question at the agents is one of my main contacts, she knows me and I know she wasn't that busy. She was telling me that they know the £154 offer buyer is in a financial position to purchase but they do not believe the £155 (or £153) offer buyer is becuase they have not been in to been screened although they have spoken to his financial advisor who confirmed they where!

petek1st

Kate, I have already taken steps by contacting the MD and Sales Director to issue a complaint so the chance to do what you suggested has already passed but thanks for the idea anyway would have been a good thing to do. We must be the family cursed with bad estate agent dealings as my mother moved 18 months ago and had nothing but trouble! Even to the point of us going to complain at the end to which they offered her a miserly £50 compo which we told them to shove and then I got a £60 parking fine for my troubles!

Senior_Paper_Monitor

Extract from The Property Ombudsman Code of Practice for Residential Sales (as of 22.02.10)

· as recognized by the National Association of Estate Agents (NAEA)

· as approved by the Office of Fair Trading under its Consumer Codes and Approval Scheme

6. Submission of Offers

6a By law, you must tell sellers as soon as it is reasonably possible about all offers that you receive at any time until contracts have been exchanged (in Scotland, missives have been concluded) unless the offer is an amount or type which the seller has specifically instructed you, in writing, not to pass on. You must confirm each offer in writing to the seller, and to the buyer who made it, within two working days.

6b You must keep written or computerised record of all offers your receive – including the date and time of such offers – and the seller’s response. Such records should be made promptly.

JQ.

Have you had the offers confirmed in writing from the EA's? It's only at that point would I cause a fuss as if she only confirmed it verbally to you, then you have no proof.

petek1st

The plot thickens!

To the above, no I have never recieved any written confirmation of offers from the EA's and yes I have no proof but also I have no reason to make such statements for my benefit.

I thought I had sold my house on Friday based on the information given to me by the EA I was luckily enough to be ina position to choose between 2. The losing offer was understandably upset and to my surprise appeared at my door step today to enquiry as to why his offer wasn't accepted. After various questions and answers I asked him as to why when I had told them that I had refused an offer for £150k they came in with that as a starting point? The surprising answer came back that his original offer was in fact £152,500 and then I asked why his second offer came in at £154k and he stated that his second offer was in fact £155. His third offer was the full asking price! I am now in an untenable position where I feel I have no faith in my agent and I also have accepted an offer that due to incorrect data with regards to his financial position could see me out of pocket by nearly £5k.
I am sincerely completely at a loss as to what and why all this has happened!

Hywocamma

Hi,I know we can obtain a sales agent license in the US being on a H1B visa. After obtaining the license, Can I act as the sellers broker when I sell my home? Or would I need to have a GC to be able to do this? Can I do the same if I have my GC? What would be the procedure to do this?basically, I would want to get a real estate sales license and save the money I pay to the agent when I sell my home.Any inputs will be appreciated,Thanks.