EA's - is this 'normal'?!

jtr2803

Forgive my ignorance, have only ever dealt with them on lettings previously and though I'd read how bullish they can be, I was still quite surprised at the attitude...

Put offer in with senior negotiator this afternoon. Could tell very quickly that she's pushy and brash with a touch of arrogance to boot. Before I've even had feedback from the vendor she's telling me they won't take it off the market until we've been in and got an AIP and met their affordability checks as its all required by the ombudsmen. No problem I say, I've already met with a broker who has been through my financials and can supply an AIP when we get to that stage.

Not good enough, their in branch FA will need to be satisfied.....then goes on to ask who my broker is, suggests he isn't whole of market (he is) and she doesn't know him.....relevant? Really? Told her I'm not happy to divulge my financials to someone sitting in their branch, they don't work for me after all, my brokers doing that bit.....getting a ridiculous ear bashing that it's not a conflict of interest (my words), they are fully independent and can't divulge, blah blah...

I've read about the affordability requests before but this offer process felt like a Spanish inquisition. I can be pretty steadfast myself so we could be in for a bumpy ride. Are they all like this?!?! :rotfl:

Already dreading revised offer tomorrow.

PS, this post is only semi serious

ABrass

EA using dodgy tactics to try to get you to use an in-house broker to get the commission on a mortgage? There's at least one other thread on the front page of this forum with the same situation.

The ombudsman bit smells of !!!!!!!! though.

Mine however was nothing like that, they offered, we said that we already had a broker, they moved on.

DRP

yep agree, mine were fine - no pressure.

martin.cat

Remember EA is working for vendor and themselves. To accept offer / take property off market you do need to prove you have funds etc. their preference would be their broker but that's jus a preference. I'd get your broker to contact them and provide details.

We have just sold and our EA was pushy / pro active. We had 3 offers in first week so the financial qualification was a must. With our purchase the agent was happy to accept emailed copy of bank letter giving AIP but there delay while we sorted it as we never expected to sell within in a week

martin.cat

Remember EA is working for vendor and themselves. To accept offer / take property off market you do need to prove you have funds etc. their preference would be their broker but that's jus a preference. I'd get your broker to contact them and provide details.

We have just sold and our EA was pushy / pro active. We had 3 offers in first week so the financial qualification was a must. With our purchase the agent was happy to accept emailed copy of bank letter giving AIP but there delay while we sorted it as we never expected to sell within in a week. House was taken off market though but they did confirm our sale / position with our EA

Hoof_Hearted

I'll just correct that for you:

martin.cat wrote: »

Remember EA is working for themselves.

moneyistooshorttomention

My own EA (ie when selling last house) had already checked out my buyers funds before putting in their offer on my last place, as I recall.

So, from my pov, it was bidding war between that buyer and someone else over the course of one day, at the end of which I accepted their bid as the "winner" and they got phoned back instantly and told "You're it...money has accepted your last bid".

I saw no sign at all of them trying to push any of their "own" financial people onto my buyer. They checked buyer had the amount of deposit they said they did and asked where the mortgage for the difference was going to come from and told me (I looked that up and thought "Exactly the firm I would have gone to myself for a deal like they've just given my buyer").

Done and dusted.

princeofpounds

If they are a member of one of the 'professional' associations, ask the agent to put down EXACTLY what she said in writing to you. It'll be interesting to see how it changes...

eddddy

Whilst it's totally unethical, the reality is that the EA will push the vendor much harder to accept your offer, if they think they will get your mortgage business and conveyance business as well.

So maybe say something like "My offer is £x. If the vendor accepts it, I will come and talk to your mortgage advisor. Also, can you you recommend a solicitor?"

If the offer is accepted, you may decide to change your mind.

silvercar

moneyistooshorttomention wrote: »

My own EA (ie when selling last house) had already checked out my buyers funds before putting in their offer on my last place, as I recall.

So, from my pov, it was bidding war between that buyer and someone else over the course of one day, at the end of which I accepted their bid as the "winner" and they got phoned back instantly and told "You're it...money has accepted your last bid".

I saw no sign at all of them trying to push any of their "own" financial people onto my buyer. They checked buyer had the amount of deposit they said they did and asked where the mortgage for the difference was going to come from and told me (I looked that up and thought "Exactly the firm I would have gone to myself for a deal like they've just given my buyer").

Done and dusted.

The sad thing is that EA's lie. So your view of the other potential buyer was the one the EA chose to give you.

SuzieSue

It depends on the EA. Some of the larger chains do exactly what you have experienced. I know Taylors do as it happened to use when we were thinking about buying.

When we were looking to sell we ensured that we chose an EA who did not pressure buyers to use their in-house broker. The other EAs tried to convice us that they were doing us a favour by weeding out the time wasters but of course it was entirely so that got more commission.