estate agents are conmen

samsaneagle

Hello bit of a desperate cry for help here!

my husband and I put our house on the market in January and have had nothing but issues with the estate agents we are selling through.

They didn't exactly value the house, they put it on the market for what we wanted and then 2 weeks later made us lower the asking price telling us there is no way we could get 95,000 for it, if they had told us that straight away we would have saved money so that we could afford to sell at a lower price but we are stuck with them, it has cost us almost £500 to put it on the market and 5 months later, 8 viewings (in 5 months) and no offers, we are at our wits end.

If we hadn't spent all the money on selling with them we would take the house off the market in a heartbeat. The service we have received has been dire, they have arranged viewings and no agent has turned up to show people around the house leaving us to do it ourselves, which we made clear we do not want to do. They have told us off for saying things we shouldn't say to people and then offer no help or guidance with anything.

they are still trying to talk us into lowering the price and we simply cannot afford this, we have been duped into selling a property that will not sell and stuck in a limbo desperately trying to save money. our lives are on hold and we don't know what to do. The longer it is on the market the worse it looks for us and our plans for the future are fading by the day.

A friend has old me that we can get in touch with an ombudsman but I haven't a clue who or what that entails.

Ideally we want our money back and to forget this whole thing never happened but I'm guessing it wont come to that

Does anyone have any suggestions?

ellie27

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Its you who decided to put your house up for sale, its you who decides what you want to market it for.

You say its cost you £500 .....if that is a lot of money to you then perhaps you are best not to sell. The fees involved in buying and selling are huge with solicitors fees for allsorts!

You said you wished they had told you what to market it for at the start, which is lower than you want for it, but yet you say you cannot lower the price.

You have not been duped by anyone, you were perhaps unrealistic in the price you wanted to market it for. If you want to sell then it sounds like you need to lower the price.

If you feel you are trying to sell a house that will not sell as its priced too high and you cannot accept anything less then I guess you should take it off the market.
Good luck

samsaneagle

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If we knew that we couldn't get any less then 95,000 for it we would not have put it on the market.

When they put it on the market they agreed on 95,000 which meant that with our positive equity we could afford the selling and buying fee's. Since they decided to tell us to lower the price ONLY 2 weeks after it went on the market

if we were unrealistic then it is only because we have been led to believe what we have been told..

Guest101

samsaneagle wrote: »

Hello bit of a desperate cry for help here!

my husband and I put our house on the market in January and have had nothing but issues with the estate agents we are selling through.

They didn't exactly value the house, they put it on the market for what we wanted and then 2 weeks later made us lower the asking price telling us there is no way we could get 95,000 for it, if they had told us that straight away we would have saved money so that we could afford to sell at a lower price but we are stuck with them, it has cost us almost £500 to put it on the market and 5 months later, 8 viewings and no offers, we are at our wits end.

If we hadn't spent all the money on selling with them we would take the house off the market in a heartbeat. The service we have received has been dire, they have arranged viewings and no agent has turned up to show people around the house leaving us to do it ourselves, which we made clear we do not want to do. They have told us off for saying things we shouldn't say to people and then offer no help or guidance with anything.

they are still trying to talk us into lowering the price and we simply cannot afford this, we have been duped into selling a property that will not sell and stuck in a limbo desperately trying to save money. our lives are on hold and we don't know what to do. The longer it is on the market the worse it looks for us and our plans for the future are fading by the day.

A friend has old me that we can get in touch with an ombudsman but I haven't a clue who or what that entails.

Ideally we want our money back and to forget this whole thing never happened but I'm guessing it wont come to that

Does anyone have any suggestions?

Whilst i sympathise, i will say a few things.

No-one forced you to choose the agent. Did you get multiple quotes, did you negitiate the fee? - id never pay agents up front.

I think its a lesson learnt for you. But i dont think you're entitled to a refund. You made a mistake. Learn from it and move on.

Check which scheme they are a member of and complain (itll be on their website) but i doubt they have done any wrong here.

densol_2

I had this when I sold my parents house. They recommended a certain price ( well agreed to it ) and within a couple of weeks they were badgering us to reduce the price. It's a common trick to get you to sign up with them and then get you to agree a " more realistic price " .... That was 7 years ago and it still bugs me now

Guest101

A lesson in doing research when selling your most valuable asset i think.

And 8 viewings in 2 weeks?! i'm unsure what the complaint it.

Just keep it on at 95k

Surrey_EA

I can understand your frustrations, and it seems your EA is not exactly the pick of the bunch, but I'm with Ellie, I can't see that you've been conned. Definitely not experienced a great service from your EA, but not conned.

What was the £500 charge for?

I'm not really sure what use the ombudsman is going to be to you in this situation.

Perhaps the best thing to do is to take your property off the market and try again at a later date, having chosen a better EA to work with.

samsaneagle

the 8 viewings is in 5 months not 2 weeks sorry!

£200 were fee's for selling and then £270 for the photographs and advertisement

princeofpounds

Unfortunately over-valuation is very common with estate agents.


Despite the fact it's about the last thing a vendor should use to select an agent (advertising commitments, service levels, reputation all being more useful - anyone can market a house for a given price), most seem not to be able to see past the £ signs.


Paying an up-front fee is also not a good idea, for the reasons you yourself are now experiencing. Of course they are now going to talk your price down - you have already invested in transacting through them and so their incentive is to achieve any kind of transaction rather than one that benefits you.


Any further service (e.g. conducting viewings) will just be a further cost to them unless the price is realistic. They have already booked their revenue.


The sad thing is that they are probably right, given the low frequency of viewings your property is likely overpriced.


After so much time and so many viewings you will not get your money back and it is unlikely you have any kind of case for the 'ombudsman' schemes (I put it in quotes as they are not real ombudsmen in my mind).


Personally, I would end the contract and write off the £500. Save without the stress of viewings and appoint a new agent, with your new-found knowledge, when you know you can proceed again with a realistic price.


I am sorry that you feel the negativity from the feedback you have received, people are going to be blunt. Just remember that every single one of us makes mistakes in our lives, including those who are critical, and we have to learn from them. Don't be ashamed, do not beat yourself up (or your husband) over it. It will just add to the stress and you know that's not the right direction to go in.

samsaneagle

princeofpounds wrote: »

Unfortunately over-valuation is very common with estate agents.

I am sorry that you feel the negativity from the feedback you have received, people are going to be blunt. Just remember that every single one of us makes mistakes in our lives, including those who are critical, and we have to learn from them. Don't be ashamed, do not beat yourself up (or your husband) over it. It will just add to the stress and you know that's not the right direction to go in.

thank you, I think thats hit the nail on the head, I do feel tricked and am very ashamed of being led, and have done nothing but worry for the last few months, in all honesty I would love to take it off the market and save to try again later. thank you

Surrey_EA

samsaneagle wrote: »

thank you, I think thats hit the nail on the head, I do feel tricked and am very ashamed of being led, and have done nothing but worry for the last few months, in all honesty I would love to take it off the market and save to try again later. thank you

I do understand that you're frustrated, and your EA really sounds like they have been less than helpful throughout the process, but in your original post it says that the EA put the house on the market for what you wanted, so it doesn't sound like they led you.

Dis-instruct your EA, take the house off the market and put the whole thing down to experience.