using same agent as seller

charleyroo

hi all

following on from my diary thread that i started a few days ago, i've viewed a property that i love and am considering putting in an offer once my property is on the market.

i am selecting an agent over the next few days. i have one well known agent coming on tuesday to value my property, but i was just wondering the advantages/disadvantages of using the same agent as the seller

so far i have:

advantages
information/messages would pass on more quickly
the agent may offer a discount

disadvantages
if/when i put in a cheeky offer the agent will already know my hand in terms of deposit, offer i need/want for my property, amount im able to go up to and will advise the seller accordingly

any more?

ta x

hazyjo

Not advisable to offer until you have an offer - not when your house is on the market (presuming you need to sell in order to buy).

Jx

PollyOnAMission

I had the same dilemma recently and went with the same agent as the house I am buying.

I've found communication has been great and they have worked hard to create and maintain the chain, because it's in their interest all round.

I never told them my hand in terms of deposit etc, only what figure I was looking at achieving for my house. They didn't know what my upper limit for affordability was, just what I was prepared to pay for the particular house I offered on.

My experience has certainly been a positive one so far.

charleyroo

thanks Polly, that's reassuring!

i asked the seller last night what she thought of the agent so far and she said they have been quite good.

i guess i'd just have to be defensive if they asked about deposit etc (first house the agent asked me straight out and i was too new to the game to be prepared to go on the defence!)

hazyjo

Just be vague. If they ask how much your deposit is, say it all depends on how much you need to spend on whatever house you choose. Give a rough percentage-bracket if you have to.

Jx

charleyroo

thanks Jo.

i'm getting better at being vague these days, haha.

x

eddddy

charleyroo wrote: »

hi all

following on from my diary thread that i started a few days ago, i've viewed a property that i love and am considering putting in an offer once my property is on the market.

i am selecting an agent over the next few days. i have one well known agent coming on tuesday to value my property, but i was just wondering the advantages/disadvantages of using the same agent as the seller

so far i have:

advantages
information/messages would pass on more quickly
the agent may offer a discount

disadvantages
if/when i put in a cheeky offer the agent will already know my hand in terms of deposit, offer i need/want for my property, amount im able to go up to and will advise the seller accordingly

any more?

ta x

Hi charleyroo

As Hazyjo suggests, the vendor and EA probably wont take your offer very seriously until your own place is under offer. I doubt they will take the property you want off the market.

But back to your real question...

If you go with the same agent, they may show some favouritism towards you. The EA may try to influence the vendor to accept your offer, instead of someone else's, because they are then lined up for 2 lots of commission. (Of course, this is immoral and no EA would admit to doing it. And some posters in these forums seem to have been the losing victim of these dodgy practices.)

And, in my experience, agents don't often offer a discount. You may have to negotiate to get one.

It may be helpful to get quotes from 'low budget' EAs first, who will offer a cheap rate. Then use these to try to beat the price down for the EA you really want.

And as everyone else says... don't discuss your finances with an EA.