Being forced to use estate agents solicitors and advisor

james.hope87

Hi all,
We are currently putting in an offer for a place and we have been told that the seller will only take the property off the market if we agree to use the estate agents mortgage advisor and solicitor.

This seems a bit wrong to me, we are a bit backed into the corner because we need to get the property off the market because we can't afford any more.

Luckily the deals we have been offered in house are still pretty good, but the general principle of it seems wrong. What are your thoughts?.

CKhalvashi

If you're in Scotland, then they must remove the property from the market.

In England, they don't have to, however do you know why they're insisting on this?

Methinks the agent is playing little naughty, as whoever handles the transaction, it makes no difference to the seller.

CK

getmore4less

ask the vendor directly.

Senior_Paper_Monitor

The third time I have posted this (a leaflet we hand to clients in this situation) this week - this whole issue is getting out of hand.


See these (current threads) threads ...


https://forums.moneysavingexpert.com/discussion/4962650


https://forums.moneysavingexpert.com/discussion/5002164


.... and many others before.








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.

amnblog

Unfortunately James, Estate Agents frequently ignore their Code of Conduct in order to advantage themselves and disadvantage buyers.

One option is to contact the seller direct and tell them you are interested in buying their property but are not prepared to be blackmailed by their agent.

The Estate Agent can then either grow up and progress on your terms, or you and the seller can agree and progress the sale yourselves.

Leave it to the seller to deal with and pay this amateur.

Senior_Paper_Monitor

I'm 110% with amnblog on this one.


99% of vendors have no idea what tricks the agent is pulling (see https://forums.moneysavingexpert.com/discussion/comment/65868127#Comment_65868127) and that these are often losing them valid buyers.


The normal reaction to a polite and factual approach is immediately go and rip the EA's head off (having had several clients do so)

Ianh82

that is terrible EA actions. i have brought and sold within the last year and i'm buying through 1 EA who have a recommended whole market independant not working in branch who was very helpful, but i'm using another independant in another EA's for my mortgage. no pressure from any of them. the broker did recommend the solicitors that they always use as being 'good' but i've gone with a much cheaper online one.

ACG

Go to the vendors directly, let them know your offer.
Also tell them the agent is saying that they have said the offer will only be accepted if you use the agents broker/solicitor - ask them directly if that is the case.

If it isnt, give the vendor your number and ask if they could text/call you if your offer is accepted as you do not trust the agents will pass it on should you not use their srvices.

Report them to the OFT. The more people that do this, the sooner it will get resolved.

dunstonh

Tell the estate agent you have a relative that works for the Financial Conduct Authority and they have warned you about this and you would like to see where it is required that you must use their agent. Its a small porkie but watch the speed the agent backtracks on what was said.