broker at estate agents

DebtFree2012

Quick question - we've put an offer in with a house up for sale with Nick Carver estate agents. They've (obviously) advised me to use their all of market broker. I've read on here not to use estate agent brokers, does this still count as EA broker if they are whole of market? I do have another broker lined up who I found view 'vouched for' so will speak to her too.

TIA.

Malmo

No doubt the estate agent will be receiving a referral fee from the broker, potentially inflating the cost to you.
Also, can you be sure that the broker won't share your financial circumstances with the agent during the transaction, thereby disadvantaging you in any negotiations?
In-house brokers will also generally be focused on sales targets and volumes, rather than on customer service and you as a client.

Personally, I would avoid estate agent brokers for the reasons above, regardless of access to the market. Find an independent broker.

-taff

what he/she said ^

csgohan4

Avoid estate agent services like the plague

dunstonh

The general rule of thumb is to not use estate agent advisers are most are linked to salesforces and tied to one or a limited panel of insurers. Most mortgage brokers are whole of market (although a minority are limited panel). They have a dire reputation mainly due to sales techniques. it doesnt mean all are bad but they do have a poor reputation for good reason. Years of the estate agent chains mis-selling insurances did the damage.

The exception is local independent estate agents who use local independent advisers. They are fine.

amnblog

Using the Estate Agents broker means details about your maximum affordability can be compromised.


This puts you in a weak position to negotiate.