How to handle estate agents when submitting an offer

Loopylou1979

Dan-Dan, my thoughts entirely!!!

FTB129

My estate agent done this to me! I wouldn’t meet with the agency broker as was happy with my own, And they got very funny about it.
All of a sudden my offer wasn’t good enough and the vendor wouldn’t be interested now as would apparently be more secure if I went through them.

I was so angry I continued to refuse to meet the broker but asked them to still put the offer through (im sure they is illegal otherwise) and then a few hours later my offer was accepted. Don’t give up and ask to speak to Manager if continues.

Ps, Happy ending we completed on the house beginning of December

Loopylou1979

Thats great FTB129, however its the manager at the branch thats pushing this meeting with the mortgage broker!

gazfocus

I made the mistake when I bought my current house of telling the EA what the most I would pay was...funnily enough, they rang back and the least the buyer would take was just over the maximum I would pay. When I refused, they accepted the offer of my maximum but I know I had been played.

This time round, we made an offer on a house, the EA rang a week later and said there had been another offer so I said 'let them have it, our offer is withdrawn'.

We ended up seeing a better house for a lower price, viewed on Saturday, made an offer lunch time on Saturday and are still waiting for a yes or no, so have given the EA a deadline.

It's unfortunate but you have to be tough with Estate Agents these days otherwise they walk all over you.

nonnatus

It's not a new thing. The EA works ONLY for the Vendor and is totally uninterested in your happiness. Of course they HAVE to put forward every offer you make (in writing) but it stands to reason then that of course they will want to move straight to your absolute maximum offer. They don't want to be wasting their time running back and forth with offers increasing in £1k intervals!!
They have been trained to gain your trust and get your maximum offer out of you at the start. Then, irrelevant of what your offer ACTUALLY is, they will approach their vendor and tell them not to bother accepting lower offers, because you will eventually go up to £x.


Some EA's now try and insist on proof of funds, deposit and mortgage before they will proffer your offer! If you don't have to reveal the info then DON'T. But expect them to be narked!

Loopylou1979

Great news Gaz, the problem in our area is supply and demand - there are just no houses coming up. I feel like we're already being pushed to the limit on this one as it is because its far from perfect but ideal for what we need at the moment with a little bit of work.

I'm just very concerned with the amount misunderstandings at such an early stage, if this is what happens now what will happen further down the line?

Loopylou1979

nonnatus, I understand your point entirely, but we've hardly been giving increases of £1k. £222k, £229K and £238k. The agent knows our situation and I think we've made fair, serious offers and been clear on our position, getting feedback or updates is what is the frustrating thing for me at this moment in time. I suspect he has told the vendor not to accept our current offer due to heated discussions and at that point will be giving our best and final offer. It riles me to think that these people will be paid by the vendor for their shocking service whether we get it or not.