Buying a house placed with multiple agents

safari_2

Hi all

I’m just about to put an offer in on a house which is being marketed through two estate agents. I’m worried that if my offer is accepted via Agent A, then Agent B will be doing everything in his power to try and get someone to gazump me. Does this sort of thing happen with multiple agency sales? Is there any way around it?

Somewhat more sneakily, is there a way of manipulating the situation to my advantage? For example, if I get an offer accepted with Agent A, can I go through all the searches and surveys, pull out at the last minute then go through Agent B with a lower offer?

By the way, I’m buying from a professional developer so I would feel less guilty about “driving a hard bargain” than if it was a private sale. I’d be interested to know whether others would have qualms about this kind of behaviour!

terrierlady

believe it or not estate agents and sales negotiators speak to each other, they do sales chasing and try to speak to vendors at least once a week to keep them up to speed with any offers etc and to check how any unaccompanied viewings are going.
Why play one against another? no need, you can always come forward with a lower offer if the survey picks up problems etc.

Debt_Free_Chick

I’m worried that if my offer is accepted via Agent A, then Agent B will be doing everything in his power to try and get someone to gazump me.

Why not make your offer conditional on the vendor takintg the property off the market and not allowiing any further viewings?

Fairdo_2

To back up what has already been said, Estate Agents do speak to eachother. You may be wasting your energy by trying to play one off against eachother and you could shoot yourself in the foot in doing so!

The agents may be very happy with the arrangement as they often "split the fee" sometimes 50:50, sometimes loaded in favour of the one who introduce the buyer to the property initially. They could have made a "winner takes all" arrangement, but it would be definately discussed between them, who has made the offer and by law, the vendor has to know about all offers made. Therefore, even if the competing agents did not discuss names, the vendor is hardly likely to accept the lower offer from the same person. In fact, they would be more likely to get nervous about you altogether and likely to keep the property on the market feeling your heart isn't in it!

Best to start with the low offer and work "proceedability" in your favour. If the survey comes up with anything, as mentioned already, you could then negotiate on tangible issues.

safari_2

thanks all. we didn't like it on the second viewing anyway!