Estate Agent won't put forward my offer until I talk to their mortgage people

MissMotivation

DVardysShadow wrote: »

OK, so we know where you are coming from.

MissMotivation and I have crossed swords in the past. But I do know that diligent Estate Agents can make a big difference for their clients, the sellers. And even as a buyer, a good Estate Agent can oil the wheels between buyer and seller and make a difference the buyer appreciates.

I would class MissMotivation as a diligent person. And Mrs Shadow and I are very happy where we are as a result of a diligent Estate Agent doing his job well.

I'm blushing DVS......would that be, perhaps, a small compliment? :rotfl:

Credit-Crunched

'well bearing in mind that I have to be an administrator, a sales person, a negotiator, a peace-keeper, a counsellor, a photographer, an IT person, a Manager, an analyst and in many cases'

Is that what is required from most people in the work place today?

To plump your profession up as anything other than a glorified sales person shows that you have been deluded by your colleagues and your industry for far too long now.

You may treat solicitors with respect but the other 99% of EA's talk to solicitors like they are a bit of sh(t on their show, purely because they are chasing their commission. Its not as they want to act on behalf of their client and ensure a smooth and painless purchase of a home, its chasing comms. Plain and simple, if you removed the commission from the equation I am sure that the urgency of the calls would be somewhat reduced.

You also made a comment that not many houses were being sold through the private avenue, this may be due to the excessive over valuing of properties that EA's have driven into this country and the mindset that a home is an investment and not a home. The amount of ideal FTB homes starting with the line 'ideal investment opportunity' just compounds this fact.

Dont take this personally I am sure you are very good at your job, however the industry you work in is very righly viewed in a very dim light after years of smoke mirrors and BS.

Hopefully the era of the internet / private sellers will ensure that the EA's wake up and start to charge less for what is basically a referral process. Mr A meet Mr B he wants to sell and he wants to buy. SImples.. :rotfl:

Mrs_Money

"Avoiding bias

You must not discriminate against potential buyers because they don't want, or might refuse, to take services from you or a connected person.
For example, you must not:

• refuse to provide information about a property to these buyers
• take longer to send property information to these buyers, compared to others
• set additional requirements, as a condition of passing on an offer, eg, forcing them to have a mortgage survey before you will pass on their offer to your client."

I think the above extract from the Estate Agents Act sums it up.
My son had exactly the same treatment from an EA when (having a mortgage arranged in principle) he refused an appointment with their Mortgage person. If a vendor wants a potential buyer "vetted" then proof of the mortgage in principal is enough.

DVardysShadow

mandi wrote: »

... DVardy your not an EA are you ? you quoted from the OFT site the above link which is from the Estate Agency Act & then deny that it exists ?

How Dare You? :rotfl::rotfl::rotfl:

Estate Agency Act -> Estate Agents Act

I'm playing this one up a bit, but googling for the Estate Agency Act was a bit off target.

Hoof_Hearted

EA's greed will see the end of them. £400 and sold my house with HouseNetwork, saving thousands.

hcb42

just put mine on market, (fingers crossed for an offer tomorrow!) anyway agent did push this vetting thing, i said I wanted no such restriction, tempting as it is to avoid timewasters!

vincentt

Estate agents are scum. mine said that as well. they will use this info to make the seller hold his position. if i was you, make it sound like you are on a tighter budget then they cant push you much AND they only want the sale anyway

centretap

timmyt wrote: »

what an irritating post, please just let the grownups post

Why? Because they dare to criticise solicitors?

Coming from one of the most consistantly irritating posters on here that comment was rather rich.

atush

Loopgames wrote: »

Speaking from the other side of the fence:

We sold our property through BE and we chose to tick 'that' box too. And frankly I found it perfectly logical to ask potential buyers to be vetted by the agents. We weren't informed of the position of these buyers except that they were vetted and reliable.

I would personally find other buyers who don't want to be vetted potentially time wasters even if they weren't. It's just something one assumes - rightly or wrongly .

We successfully sold through them and were happy with the process.

BTW so far DVardy seems to know their stuff on this matter imo.

There is a difference between 'vetting' a buyer (ie calling up their bank/broker to see if they have their finances in place and so are offering in good faith) and having your EA cooerce a buyer into a meeting with their tied agent. The two are NOT the same thing.

If you are happy to not recieve all offers that might be made, as some qualified buyers with more experience wouldnt fall for that trick, fine.

Loopgames

atush wrote: »

If you are happy to not recieve all offers that might be made, as some qualified buyers with more experience wouldnt fall for that trick, fine.

That might be a subjective opinion.;)

Our buyer was already experienced in the buy to let market. I still don't see a problem except the time factor involved if you have to go through the vetting process with each agent - that can be more than slightly annoying I should imagine.