When Estate Agent often says "I shouldn't be telling you this"?

Cowboy.

Hi guys,

When a estate agents employees often say "I shouldn't be telling you this" or "I shouldn't be showing you this" - is it that they are trying to be helpful or would you get suspicious?

For example I got a text message of what the current offer is for a property I am interested in.

Thanks!

Dave_Ham

It is not just that, personally I would not believe anything they tell you and attempt to verify all details.

This is not suggesting they all tell porkies all of the time, but if you start from this base you can interpret the porkies from the truth.

Just remember, they are pretty much unregulated.

dunstonh

The estate agent is there to sell the property for the vendor. The vendor is employing them. If you are a buyer then you take everything the estate agent says with a pinch of salt.

warehouse

It's simple. Everything an estate agent tells you is a lie. Work off that and you'll do just fine.

Cowboy.

Oh dear.

So I put in an offer for a house valued at 300k, they have already said they have received an offer around 310k in the text message.

I am being advised by my finance adviser that the property prices should be driven down to around 290k but how can I work on this if the estate agent is sending mixed messages?

kingstreet

Ignore what you are being told.

Look at comparable property in the vicinity and see what it sold for somewhere like this;-

http://www.rightmove.co.uk/house-prices.html/svr/1718;jsessionid=4BD087FE2A2960D48C34E0483225A754

Make an offer for the property based on the comparables surveyors use for a mortgage valuation (less than 0.5 miles away in last 120 days) and see if your offer is accepted. If it isn't, consider increasing, or find somewhere else.

The EA is making noise to try to distract you. Ignore it.

Battleaxe44

Cowboy. wrote: »

Oh dear.

So I put in an offer for a house valued at 300k, they have already said they have received an offer around 310k in the text message.

I am being advised by my finance adviser that the property prices should be driven down to around 290k but how can I work on this if the estate agent is sending mixed messages?

I woud be telling them that you are not raising your offer, They are tryng to beat you upo on your offer, Do not play thins game.

Actually I would be telling them that you are going to lower your offer by 10k and will only pay 290K for the house. The EA has to understand you will not be suckered in by them.

besti

I have found there is one sure fire way to know if an EA is lying. Look at them very closely and if their lips are moving, they are lying ;-)

amnblog

Do not be surprised if your agent replies to the text and another mobile in their office bleeps.

Estate Agents are paid on sale only and directly from the sale proceeds, they don't care who buys, but they do want you to pay as much as possible.

Thrugelmir

The EA is just as likely to broadcast your response as well. Personally I would walk away.

align700

Agree with the above. We found a house and viewed it with the vendor and we agreed a sale there and then. But agreed we will still put the offer through the EA. When I did the EA took over an hour to get back to us and said that the vendor had been given a better offer and we knew this was a lie and we stood our ground. The EA said he shouldnt tell us this but if we upped our offer by £1050 the vendor would agree to sell to us as the other person couldn't go any higher. but we knew we had already had it at the agreed price. And the vendor called me and told me to stand my ground lol so yeah don't take what there saying is gospel it's there way to make you think there on your side and there not