Estate Agent introduction fees- question from potential buyer

benson1980

Hi, this subject is covered a lot on here but can't find any guidance on it from a buyers perspective.

The facts are as follows. I make enquiries on a property advertised for sale, which is being marketed by two agents at present. I contact one agent (EA1), and at the third time of travelling up to view it, get thoroughly fed up with their denying all knowledge of viewing being booked/them turning up at the wrong house.

Whilst outside the property I see the other agents for sale board (EA2). I ring up and leave a message, telling them that I'm having issues with the other estate agents and just want to view the property- can they assist? I'm very interested in the property but if I go through EA1 bearing in mind the dealing that I had with them up to that point I was worried that this was only a sign of things to come.

Half an hour later EA1 calls me back, telling me that they can meet me in half an hour. Fast forward, a rather disinterested and completely unapologetic lady turns up, shows me round the house. She was clearly in a hurry and I felt rather rushed. Anyway I really liked the house.

A short while later EA2 calls back- instantly much more interested and I book a viewing. This is upcoming over the next couple of days. I tell him about the dealings with EA1. It springs to mind whilst on the phone to him that this may cause problems with who is then doing the introduction/fees etc. He tells me not to worry and that he'll do the formal introduction and properly show me round with me and my partner.

Now I'm wondering is this going to cause issues? EA1 knows I really liked the house. I'm working on the basis that they will find out if I buy it. I really don't want to have to go through them for a purchase bearing in mind my dealings with them. However am I causing problems for myself in going through EA2. I'm almost certain we'll be putting an offer in for this property. I'm mindful that I need to be an attractive purchaser for the vendor and don't want to cause them any issues.

Thanks in advance! Hopefully I've covered everything...

G_M

Yes - likely to be a problem.... for the seller, not for you.

The seller may get a bill (which may be £000s) from both EAs.

EA1 has you on their files and can claim introduction so will bill. As will EA2.

So inform the seller what has happened. He can then sort it out with his agents.

But it would be unfair not to be upfront with the seller who may have legal/financial repercussions later.

Dan-Dan

Theres a house up for sale we know about , its up with three agents , just seems like a mess waiting to happen to me , surely most people will see it for sale , if only with one agent , as long as that agent has a good presence online and in print!?

G_M

Dan-Dan wrote: »

Theres a house up for sale we know about , its up with three agents , just seems like a mess waiting to happen to me , surely most people will see it for sale , if only with one agent , as long as that agent has a good presence online and in print!?

Not sure what your point is.

Most buyers will apply to view via one agent only. That agent will get the fee.

By having a 'multi agent' contract, the seller incentivises the agents to work harder - the first one to find a buyer gets the fee. The others get nothing.

Dan-Dan

the point is , the op`s actions must get repeated elsewhere, causing troubles for sellers as they , and you , have described

benson1980

If anything as a buyer it puts me off when you see a house on rightmove that is listed multiple times with multiple agents- makes me think there's something wrong with it (rightly or wrongly) so I don't really get the benefits either. I will ask EA2 to be upfront with the vendor and explain the issues (if he hasn't already) with EA1 hence wanting to go through him.

ValHaller

benson1980 wrote: »

If anything as a buyer it puts me off when you see a house on rightmove that is listed multiple times with multiple agents- makes me think there's something wrong with it (rightly or wrongly) so I don't really get the benefits either. I will ask EA2 to be upfront with the vendor and explain the issues (if he hasn't already) with EA1 hence wanting to go through him.

Essentially, you must, as buyer, do your research on what agents a property is with. And you must choose your agent and stick with that agent from the moment you give an agent your name.

Otherwise, the seller is at risk of 2 sets of Agent's fees and your offer will be devalued by 1 set of Agent's fees.

benson1980

ValHaller wrote: »

Essentially, you must, as buyer, do your research on what agents a property is with. And you must choose your agent and stick with that agent from the moment you give an agent your name.

Otherwise, the seller is at risk of 2 sets of Agent's fees and your offer will be devalued by 1 set of Agent's fees.

Not sure I could have predicted how bad EA1 were going to be. On the flipside, you could argue that the seller should have done his homework and not picked such a crap estate agent to sell his house for him, and that this is a potential risk of using multiple agents? However I take on board what you say and will do research into the agents with a property with multiple agents next time- just a bit of googling would have revealed that EA1 have an pretty bad reputation and I would have chosen the other one to start with.

ValHaller

benson1980 wrote: »

On the flipside, you could argue that the seller should have done his homework and not picked such a crap estate agent to sell his house for him, and that this is a potential risk of using multiple agents?

These are all seller's problems. Regard it in the same light as the seller having put in a new kitchen which you find particularly naff. Your choice is to like it or lump it.