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Who does the Estate Agent work for...

theGrinch
theGrinch Posts: 3,133 Forumite
Part of the Furniture 1,000 Posts
in House buying, renting & selling
..the buyer or the seller?
"enough is a feast"...old Buddist proverb
«1

Comments

  • fairy_lights
    fairy_lights Posts: 9,220 Forumite
    The seller obviously, they're the one who pays them
  • aniahill
    aniahill Posts: 181 Forumite
    Part of the Furniture Combo Breaker
    The seller - they are the ones who pay their commission.

    Why do you ask?
  • Guest101
    Guest101 Posts: 15,764 Forumite
    theGrinch wrote: »
    ..the buyer or the seller?

    Seriously? I'd reconsider whatever it is you're doing, buying or selling, you aren't ready
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Neither. The EA works for themselves first.
  • theGrinch
    theGrinch Posts: 3,133 Forumite
    Part of the Furniture 1,000 Posts
    So am perfectly in order in correcting my agent in no uncertain term when they say their client has paid for searches.

    I would let it go but its a fundamental point in Principal-Agent relationship, but no less frustrating something so basic.
    "enough is a feast"...old Buddist proverb
  • theGrinch
    theGrinch Posts: 3,133 Forumite
    Part of the Furniture 1,000 Posts
    Guest101 wrote: »
    Seriously? I'd reconsider whatever it is you're doing, buying or selling, you aren't ready

    Ive brought or sold a few properties in my time - just wondered if I missed the meeting which changed everything.
    "enough is a feast"...old Buddist proverb
  • Guest101
    Guest101 Posts: 15,764 Forumite
    theGrinch wrote: »
    So am perfectly in order in correcting my agent in no uncertain term when they say their client has paid for searches.

    I would let it go but its a fundamental point in Principal-Agent relationship, but no less frustrating something so basic.



    Presumably you mean the buyer has paid for searches, in which case yes, you would be perfectly entitled to explain to them that as the Agent, they must act in the best interest of the principal.


    (Not as is often described the neutral middle man)
  • Guest101
    Guest101 Posts: 15,764 Forumite
    theGrinch wrote: »
    Ive brought or sold a few properties in my time - just wondered if I missed the meeting which changed everything.

    Fair enough, it's such a basic question that it did appear to come from a naïve FTB
  • westernpromise
    westernpromise Posts: 4,833 Forumite
    The agent's customer is the seller, and the seller's customer is the buyer.

    The agent has a structural conflict of interest that explains the widespread distrust of estate agents.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    The buyer and seller are both stooges to be milked of as much money as possible by the estate agents who work only for themselves.
    Changing the world, one sarcastic comment at a time.
This discussion has been closed.
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