estate agent not keen on me dealing directly with vendor?

bs0u0128

shove a note through the vendors door with ur email and mobile on, i did, EA said no direct wanted, next day vendor contacts me herself LOL

rammster

Both the houses that the deal fell through on were empty , with the seller living elsewhere. So I couldn't slip a letter down the door, or visit them when they were around in the house. The only way was to ask the details of the seller from the EA.

Both the EAs called me at the office , they wanted copies of my passport etc. just to ascertain where I lived (both of them knew that I have my own Independent financial advisor) at both time I questioned why they needed to see my passport , they also wanted to see my Agreement in purpose which I showed to them. They also wanted a bill / bank statement of mine. Now what business is this to them when they already know that I have an independent Financial advisor , and that I have all my homework sorted.

Why is this market so dodgy. I went through two estate agent companies on two houses I realley liked within 2 months in succession , and I met two Sharks.

Also what should I do with the photocopies of the documents that they have of mine.

Plus I dont remember signing anything saying that the photocopies they have will be kept confidential.

This is such a !!!! profession.

lynzpower

My last deal fell through because the estate agent miscommunicated my current condition to the vendor. To me all estate agents are scumbages , and I am yet to meet a decent honest person. This may be due to the unregulated nature of the profession. Yesterday I lost another deal , as I had a competitive bid (higher of the two ) but was gonna have none of their solicitors/Mortgage advice/other products they wanted to sell to me. (I have an independednt financial advisor)[/QUOTE

The issue really is not whether you have the higher offer, its whether you have the BETTER offer. IE, another buyer could be a buyer with 100% cash and wanting to move quickly, and you with your mortgage is not such a good deal for the vendor.

Which brings me to the question . Should I insist at the point of making an acceptable offer that I should liaise directly with the vendor rather than letting the estate agent to keep on playing the middle man / or should i call it the middle FOX.

1. vendors pay EAs to take care of this negotiation. Many are simply not equipped or feel confident about negotiations.
2. This starts to open a whole can of worms around introductions/ private deals and so forth which can closely border on legality.


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QUOTE]

Both the EAs called me at the office , they wanted copies of my passport etc. just to ascertain where I lived (both of them knew that I have my own Independent financial advisor) at both time I questioned why they needed to see my passport , they also wanted to see my Agreement in purpose which I showed to them. They also wanted a bill / bank statement of mine. Now what business is this to them when they already know that I have an independent Financial advisor , and that I have all my homework sorted.

No one knows anything without PROOF. Ive just had a vendor severely let down from a buyer stating that they had an agreement for a certain type of property, and it was an out and out lie. I will always ask for proof in future. The vendor is my client, and my role is to protect them from fall throughs.

IN terms of the bank statement - this sounds like a requirment for Proof of cash- do you have a large deposit? You might find this is a legal requirment?

Im not too sure why your so resistant to getting the docs in. Data held by EAs is covered by the data protection act, nad is treated the same as everywhere else.

RHemmings

lynzpower wrote:

Im not too sure why your so resistant to getting the docs in. Data held by EAs is covered by the data protection act, nad is treated the same as everywhere else.

Would you say that it is very rare that EAs will misuse data? For example, do you think that if someone uses an in-house financial advisor/applies for an in-house mortgage, that it would be very rare for the connected EA to hear privileged information (or at least some sort of indication) about the finances of the buyer?

lynzpower

RHemmings wrote:

Would you say that it is very rare that EAs will misuse data? For example, do you think that if someone uses an in-house financial advisor/applies for an in-house mortgage, that it would be very rare for the connected EA to hear privileged information (or at least some sort of indication) about the finances of the buyer?

Data protection act covers the sharing of data between companies & orgs, not within.

It would be like saying well the dr can have my address but not the receptionist.

lilyann1

We sold our house last February and finally moved week before Christmas,we had the same original buyers and we moved to the smae house we originally liked.
I firmly believe that we only kept on going as both my buyers and the people we were buying from all kept in contact every other week and sometimes every other day to see what was going on.
If it had been left to the EA's the people we were buying from would have definitely gone back on the market as the EA was trying to convince them to put the price up.
My advice is do anything you like to sell your home,its your home and doesn't belong to the EA!!!!

maninthestreet

Requests for proof of identity, bank statements, etc, should come via solicitors, not EAs. The only thing the EA should be concerned with is your ability to pay the vendor the agreed price for the house - an Agreement in Principle from a lender for a mortage is, in my opinion, sufficient evidence of this ability to pay, assuming a mortgage is required by the buyer.