Do estate agents want to sell houses?

Jack2015

Hi
I have saved up over the last10 years to be able to buy a small house. I have been to view several properties and put in offers but feel I am being pushed out in favour of the estate agents wanting to give me mortgage advice and not ask if I can raise the funds. I have seen several properties I like go in favour of people who take mortgages from the state agent.
Is the commission really that good for the estate agents to do this ?
Thanks

Pixie5740

It's not just commission from selling the property that they make. There's commission from selling mortgages and insurance to buyers.

If I was a vendor I would be unhappy that offers weren't being put forward because potential buyers didn't want to use the EA's mortgage broker. Are you positive that's what is happening?

Hoploz

How realistic are your offers? Are you trying to get a bargain because you are buying in cash?

When you put in your offers, have you provided concrete evidence of funds, or have you just fluffed about saying no I don't want to talk to your mortgage person I'll sort it myself?

Have you tried agreeing to meet the mortgage adviser when requested, who would then conclude from your evidence that you don't need a mortgage? (financially qualified) ?

I'm not saying you should have to jump through these hoops, but if you're not getting anywhere then maybe it's worth bothering.

birminghamuniv

They all push you to use their "advice" because they can get commission from all of them. You can save lots of money if you do yourself e.g. talk with your bank about mortgage. What you need to do with them now is just put an offer for the property you want. It however would be useful and necessary if you could talk with a mortgage lender before putting an offer because you should know about your possibility of getting a mortgage.

G_M

If in doubt, you can always put your offer in writing to the agent, and as a 'politeness' cc the letter to the vendor too.....

Jack2015

Thanks for the replies.

I'm new to this and have spoken to one estate agents about a smallest mortgage if I need to go over my buject but as soon as they saw it as a little mortgage I feel I was cut out of making an offer. I did make an offer which was over the asking price by 5k the same day as I could single handed made the funds but the estate agents said an offer with a mortgage had gone through and was accepted by the vendor.
After looking at the mortgages the estate agents offer they ate always a couple of percent high than going direct. Do they make a lifetime commission on the percentage ?
Thanks

xylophone

When you next see a property you like and can afford, simply explain to the estate agent that you are a cash buyer (offer proof of funds), and say that you will proceed as soon as a satisfactory survey and searches allow.

I have never heard of estate agents not passing on cash buyer offers to the vendor.....

ellie27

How do you know the houses have sold to folk who have taken on mortgages through the state agents advisors?

Strange, we are in Glasgow and over the past 6 months we have viewed around 10 houses, probably marketed by 5 different estate agents. Not have never been asked by any of the agents to speak to anyone regarding mortgages/insurance etc. We are always asked 'do you have your mortgage ready' to which we answer yes.