How to tell if you're being played by EA

kilby_007

Thrugelmir wrote: »

Perhaps the survey identified some issues.

The property never went "sold" on rightmove and it was only 2 weeks after having my offer rejected that they got back to us. There's every possibility there was a genuine offer and there was some other reason they backed out, but where Estate Agents are concerned I always err on the side of LYING B&*^DS :rotfl:

It does surprise me that it hasn't sold at the new asking price though, been that price for a few weeks now.

dc197

there could be no other offers

Possible, but against the EA code of conduct to invent offers.
That assumes the ea us part of the property ombudsman scheme.

Oh-no_3

It must have been frustrating to have that information on a screen a couple of feet away from you, it would be tempting to grab the screen and have a look for yourself

kilby_007

Oh-no wrote: »

It must have been frustrating to have that information on a screen a couple of feet away from you, it would be tempting to grab the screen and have a look for yourself

The office was set up like a hotel reception, with the receptionist behind the screen, so it wasn't possible, but yeah, otherwise I'd have tried to have a peek!

getmore4less

There will always be another house that is better than the one you bought, just it will be too late by then or it could have pushed you too far or it was not for sale then...

If you had a previous place that you would have been happy with why not go back and make it more desirable by trying to get it for less now they have reduced asking.

getmore4less

AdrianC wrote: »

I'll ask again - do you seriously think the EA are going to go to these lengths to make another £75...? The EA do not accept offers. The vendor does.

They know the first £XXXX is in the bag if they can get the place sold.

They don't want vendors running away to another agent.

It will be that bit on top that secure the sale, they(EA) will be investing their time to secure the sales where they think they can close the deals.

Convincing the vendor they have the exhausted and squeezed the buyers will be part of this.

Remember if they can get one sale up £5k(or stop it dropping £5k) that sets the level for future sales.

Hoploz

Maybe they have rejected the higher offer as well? It sounds like they want offers over 300 so maybe it's still less than they are hoping for, but quite a bit more than yours.

I agree that you have given the impression that you don't want to pay what the seller wants and if other buyers are nearer the mark why would the EA bother speaking to you again ... After all, you said your offer was your best and final. Now you're changing your mind but they think you'll probably only go up another couple of k which won't be as high as the other offer(s) and therefore still far away from the sellers acceptable level.

cloo

'How to tell if you are being played by an EA?' - You're buying or selling a house, that's how you can tell

Okrib

How does it benefit them to invent an offer? It's against the code of practice anyway, however it makes no sense.


Agents want to get the property sold, and quickly. While they are of course going to get as much money as they can for their client, quick stock turnover will generate far more money for them than squeezing an extra couple of thousand pounds from a buyer and dragging the process out.


There is absolutely another offer, presumably higher than yours. If you're in a stronger position, then they might decide to go with your offer, the agent will probably prefer that if you can transact quicker, but the vendor will - presumably - want as much money as possible. So you need to offer more.


Making up offers helps absolutely no one. I'm sure it's very rare.

olbas_oil

If you feel the agent isn't playing it straight, why not attempt to make direct contact with the vendor? If they live there, knock on the door. If not, leave a letter saying how much you like the property, and how you would be a very safe buyer- no chance of pulling out. Maybe ask around with the neighbours to pick up any more background info.
I'm sure most agents are completely straight. However there may be cases where they have a preferred buyer, possibly a family member and have not declared the conflict of interest.