Estate Agents: Reason to be Suspicious?

pandaandpenguin

Hi All,

I'd really welcome your thoughts.

We recently had three second viewings on our property (two yesterday, one on Friday). We've been conducting viewings ourselves and are reasonably certain all parties were serious. One person came back with an offer today, the Estate Agent cannot track down the other two.

One of those that cannot be traced wanted to be informed of all offers over the weekend, the other was round yesterday measuring up. I've been struggling to understand why after a couple of calls from the Estate Agent they don't just say 'no ta, I've changed my mind' if that is the case.

Then the Estate Agent mentioned that the individual who had made the offer was to visit the office to talk through her mortgage situation. The Estate Agent is in the Sequence Group (covered extensively on this forum with regard to their crafty ways of getting you to use their in-house conveyancing). Do you think it's possible that the other two viewers might have been 'forgotten' given the potential of a juicy commission from the third? But surely if the others were interested they would make an offer without being chased and given that it is a legal duty to pass on all offers, surely it would have been passed on?

So am I being paranoid? Is this normal? Or do I have cause for concern? And if so what should I do?

Many thanks.

harz99

pandaandpenguin wrote: »

Hi All,

I'd really welcome your thoughts.

We recently had three second viewings on our property (two yesterday, one on Friday). We've been conducting viewings ourselves and are reasonably certain all parties were serious. One person came back with an offer today, the Estate Agent cannot track down the other two.

One of those that cannot be traced wanted to be informed of all offers over the weekend, the other was round yesterday measuring up. I've been struggling to understand why after a couple of calls from the Estate Agent they don't just say 'no ta, I've changed my mind' if that is the case.

Then the Estate Agent mentioned that the individual who had made the offer was to visit the office to talk through her mortgage situation. The Estate Agent is in the Sequence Group (covered extensively on this forum with regard to their crafty ways of getting you to use their in-house conveyancing). Do you think it's possible that the other two viewers might have been 'forgotten' given the potential of a juicy commission from the third? But surely if the others were interested they would make an offer without being chased and given that it is a legal duty to pass on all offers, surely it would have been passed on?

So am I being paranoid? Is this normal? Or do I have cause for concern? And if so what should I do?

Many thanks.

The agent works for YOU. Instruct the agent, face to face if possible, to continue to attempt contact with the other potential buyers, whilst you consider the offer. You could even sit in their office while they do so.

pandaandpenguin

Thanks. You're right. I've said this over the phone, but I'll go in tomorrow. I'm going to ask them to make the calls whilst I am there. I do have qualms about asking this, but since I also have serious doubts over their motivations I'm going to swallow my finer feelings!

We are paying them a flat rate, so they have no incentive to get us a better asking price, just an incentive to tie the buyer into their conveyancing package.

Senior_Paper_Monitor

No they don' have "any incentive to get you a better asking price" BUT they do have an incentive:


1) to get the purchasers to use their 'in house services' (mortgage brokers, solicitors, moving companies etc etc) so they earn commissions


2) to get the purchasers to use their 'in house services' (mortgage brokers, solicitors, moving companies etc etc) so they meet the targets set by their head office and keep their jobs.




Yet another case of an estate agent (allegedly from a group mentioned regularly on various similar threads/forums etc in this case) apparently (based on the poster's statement) *****ing over both vendor and purchaser in their march to corporate targets.


They will have slipped a line into their contracts to you which instructs them to 'qualify' all offers in terms of their ability to proceed/complete which they presume allows them to override the content of my next post.


Simply write to them and tell them you wish all offers to be reported to you without any restriction. Tell them if they don't do so you will be making an official complaint.


I am really getting thoroughly ****ed off with this behaviour by these unscrupulous, unregulated thieves (by which I refer to the estate agent industry in general - and there are some good ones, but very much the exception to the rule - rather than any specific individual, company or group) .

Senior_Paper_Monitor

Further to my post above, this is the basic information sheet (I have a far more vitriolic brochure that we also provide in an effort to ensure our clients - the purchasers - can cope with the immoral games of the great majority of estate agents) that we provide clients being bullied by estate agents ....




We regularly have clients advise us that the estate agents for the property are ‘pressurising’ that “unless you use their broker you may not be able to get the property”- we have no problem with you seeing anyone you wish, BUT it is not legal to ‘make you do so’, nor to indicate that it will ‘impact on your ability to buy the property ifyou do not’.





Additionally, extra ‘credit checks’ / ‘Decisions in Principal’ may adversely affect your credit rating …..





You may find the following extract useful:





Extract from The Property Ombudsman Code of Practice for Residential Sales (as of 22.02.10)

• as recognized by the National Association of Estate Agents (NAEA)
  
• as approved by the Office of Fair Trading under its Consumer Codes and Approval Scheme
  
  6. Submission of Offers
  
  6a By law, you must tell sellers as soon as it is reasonablypossible about all offers that you receive at any time until contracts have been exchanged (in Scotland, missives have been concluded) unless the offer is an amount or type which the seller has specifically instructed you, in writing, not to pass on. You must confirm each offer in writing to the seller, and to the buyer who made it, within two working days.
  
  6b You must keep written or computerised record of all offers your receive – including the date and time of such offers – and the seller’s response. Such records should be made promptly.
  
  Discrimination
  
  6c By law you must not discriminate, or threaten to discriminate, against a prospective buyer of the seller’s property because that person declines to accept that you will (directly or indirectly) provide services to them. Discrimination includes – but is not limited to – the following:
  

• Failing to tell the seller of an offer to buy the property.
  
• Telling the seller of an offer less quickly than other offers you have received.
  
• Misrepresenting the nature of the offer or that of rival offers.
  
• Giving details of properties for sale first to those who have indicated they are prepared to let you provide services to them.
  
• Making it a condition that the person wanting to buy the property must use any other service provided byyou or anyone else.

pandaandpenguin

Many, many thanks for this.

Whilst we don't have proof in this case we can evidence other instances of the Estate Agent lying to us. Does the Ombudsman give us any recourse to break our contract immediately without penalty because of this?

Also we were told it would be a 12 week tie in but the contract says 20 weeks, we are 5 weeks in.

LandyAndy

pandaandpenguin wrote: »

Many, many thanks for this.

Whilst we don't have proof in this case we can evidence other instances of the Estate Agent lying to us. Does the Ombudsman give us any recourse to break our contract immediately without penalty because of this?

Also we were told it would be a 12 week tie in but the contract says 20 weeks, we are 5 weeks in.

Why did you sign it?

pandaandpenguin

Because we didn't check the small print! We are living and learning.

aniahill

Could you do a bit of undercover work and ask a friend to view and put in an offer on your place and see what the outcome is? If you've got friends with time on their hands...

pandaandpenguin

Thanks to you all for your input.

I asked the Estate Agent to call around whilst I was in the office. Previously one agent had told me that she'd left numerous messages but had been unable to speak to either viewer. In contradiction another agent had told me both parties had been spoken to, were aware of an offer, and were still haggling for time.

It was interesting then when both people answered the phone and seemed surprised that there had been an offer on our property.

An hour and a half later the Estate Agent rang with an offer from one of these people which we accepted. He is to visit the agents later in the week with his mortgage agreement in principal. I have no confidence in the Estate Agents and am expecting more funny business when he doesn't buy into their conveyancing package. I'm going to get his contact details ASAP and hope to work around the Estate Agents where necessary. I will also look into making a complaint.

I agree with all those who have shared their frustrations with the Sequence group of Estate Agents. They are not to be trusted, do not consider using them.

starsign47

Agents use 'professional viewers' who they send round to sellers property to make it look as though they are doing 'something' to earn their commission.
I experienced this in 2007 when I was selling my home. The agent sent round a couple with daughter - never heard anything else from them - then a few months later when I asked the same agent to get a tenant for another property which I let out, he sent the same people to view it! Needless to say I haven't used this agent since.
Good luck anyway