Estate agents - We have buyers for your property

adamzetec

My house is currently advertised via an online estate agent and has been for 2 weeks. During this time I keep getting mailshots and letters from local estate agents touting for business.

I called one this morning to politely acknowledge that they have sent me these letters and ask them to remove me from their marketing going forward.

I was told that the house over the road sold a week or so ago (which is identical to mine but mine is on a nicer plot minus a conservatory) and 4 people were fighting for it. The vendor was presented with multiple offers and she was able to pick the one she wanted to proceed with. Apparently these 3 people are still desperate to move in to my road.

My options were to use their services and let them market my property (no thanks) or go down the sale by tender route. Apparently this would cost me £150 upfront for marketing purposes (I don't need this, they need to make 3 phone calls to get these people around) and the fees would be paid by the buyers.

I said I'd think about it. I called an hour or so later and said that sounds great but as I have already paid to advertise my house that the £150 upfront is too risky so I'd pay it on completion. "No sorry sir that's not how it works, we need to pay for marketing, to advertise your house and take pictures etc". Well no, you don't actually as you'll call 3 people and invite them to take a look at my house and make a bid if they want to. "No sir it doesn't work like that and we can't do this". Fine, speak to your manager and call me back but otherwise thanks but no thanks.

I'm therefore thinking that this is BS (most likely) and these buyers don't exist or this guy is missing a trick here. I'm considering calling the manager of the branch and talking it through with them. If they get me a sale they get the £150 from me an £x from whatever the buyer would pay them as a finders fee. It's a win win situation for us both (if these buyers exist).

Either way, I'm not going to pay £150 for the possibility of someone maybe making an offer. Why on earth would I do that?

princeofpounds

It's probably BS. If your house is on rightmove, any buyers would likely have seen it already, and if they were that desperate, they would have been on the street and seen the sign at some point!

Gra76

If these 3 people were all fighting to get moved into your road then they'll still be looking. The EA is talking out of his backside to get you to part with cash. There are no people. If they were they'd have booked a viewing by now.

SuzieSue

It's a good way for them to make £150 from anyone who isn't advertising with them and lives near a house they have just sold.

bod1467

It sounds just like the "We have people lined up to buy your type of car. Just pay us £65 and we guarantee (subject to T&Cs the give us a get-out clause) that your car will sell" scam.

motherofstudents

We keep getting these through the door. They have people waiting to buy my house apparently. What a load of rubbish. Wish I could think of a way to scam them back.

Mrs_Imp

We regularly get leaflets through our door saying that they have people waiting to buy in this area. I find it a little hard to believe, as one of the EAs has a house on the road for sale already, and it's not sold in the past year!!

adamzetec

I have decided I'll give the manager a call shortly and run it by them, I really don't like this dirty tactic.

If they have 3 buyers for my property then them waiving £150 until completion will be worthwhile as fees will be generated by the buying party too. If there is any push back then there is absolutely no doubt that these buyers do not exist (as I suspect).

Wyndham

They don't exist. If they did exist (and were serious buyers) they'd be looking and know your house was on the market. It's a waste of money and will lead to nothing.

I wouldn't even waste the time and effort to make the phone call!

mrginge

adamzetec wrote: »

I have decided I'll give the manager a call shortly and run it by them, I really don't like this dirty tactic.

If they have 3 buyers for my property then them waiving £150 until completion will be worthwhile as fees will be generated by the buying party too. If there is any push back then there is absolutely no doubt that these buyers do not exist (as I suspect).

The more conversations you have about this, the more opportunities they have to BS you. You are already hooked and will no doubt end up doing some kind of 'deal' that you think is sensible but will cost you money and get you nothing.
Please prove me wrong.

adamzetec

mrginge wrote: »

The more conversations you have about this, the more opportunities they have to BS you. You are already hooked and will no doubt end up doing some kind of 'deal' that you think is sensible but will cost you money and get you nothing.
Please prove me wrong.

I called and spoke to the manager. During which she said my house probably wasn't suitable for a sale by tender. She explained that the £150 would be for solicitor costs in drawing up the contract and also the exchange would take place about 7 days after.

She explained the services they offer over and above my online estate agent and gave me some rough prices. Suffice to say they are much more expensive for what I see as being little benefit right now.