Ignorant Estate Agent - letter required?

JennyP

Margot123 wrote: »

This has been ongoing for 6 months, it's a probate property so I don't even live there.

I'm sure the buyers haven't grasped the fact that I'm in the best of positions.
There again, I don't know what carp the EA has been telling them.

If you're in a good position, you could - if it came to it - tell the cheeky b***** to b****** off.

I'm not sure if I mean the buyers or the estate agents. Or both!

Hope the buyer's solicitor charges them if the sale falls through.

chanz4

Just tell them to remarket, the buyer wont back out as too much invested

JimmyTheWig

Margot123 wrote: »

The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.
...
Do I need to put this NO in a good old-fashioned letter, sent by Recorded Delivery?

It sounds from this that the EA has received and read your email. Putting the same in a letter would be of no benefit. But it does sound like you need to be clearer about exactly what you mean.

Depending on the wording of your email they could be taking it to mean...
"Oh no, that's a shame."
"No, I don't think that's a very good idea, though as you're my appointed agent I'm always interested in your opinions."
"No, no way. Whatever you think, I'm not reducing the price. Please don't waste my time by even telling me what you think about it."

It sounds like you meant the third of these.
It sounds like the EA thought you meant one of the first two.

theartfullodger

Say no, again: (just e-mail, calm & polite). Then if they come back again say, ideally in person in their office in front of loads of their customers, "What part of F*ck *ff didn't you understand"..

eddddy

I'd guess that you have said NO to the reduced offer, and the buyer has said NO to going forward the current offer.

So the EA is trying to make one of you budge.

If you're not going to budge, you probably need to decide how you want to proceed and tell the EA. For example...

- Re-market the property
- Give current EA notice, and instruct another one

(Just repeating 'NO' probably won't really move things forward.)

Davesnave

The agent wants a sale and their commission. They probably realise that you will dump them if this deal doesn't go ahead, so the only chance they have now is to persuade you to cave-in.

They may seem to be working for the other side, but they're really working for themselves, just as they have been all along!

Thrugelmir

Sounds as if there's a lot more to this tale.

My buyers have already notified the Council they are moving in, so bills are coming in their names.
This started nearly 2 months ago, and we still don't have an exchange date.

My advise is not to redirect anything until completion; it may be annoying to you but not half as annoying as it is to a seller receiving a PROSPECTIVE buyer's post and bills.

G_M

An eail to the EA teling him

* the only renegotiation you will consider is upwards, and

* until the buyers commit to the agreed price you want the property back on the market.

Follow up with a phone call to the manager later n the day to ensure

a) he unerstands and

b) he actually IS putting the property back on the market

steampowered

Surrey_EA wrote: »

I think it's time to bin the current EA off, and appoint someone else. From your posts it seems increasingly unlikely that the current sale will happen.

If the Op does this, they will be liable to pay two sets of estate agent fees. They'll be liable to the first estate agent which introduced the buyer (regardless of whether it is sole agency or not). And they'll be liable to the second agent.

Margot123 wrote: »

My buyers asked for a further reduction prior to exchange. The EA has chosen to ignore this (although has responded attaching the email) saying 'I think we need to renegotiate'.

Have you considered that there may be a good reason? Ask the estate agent why he thinks there is a need to renegotiate.

If the buyers have a good reason for asking for a reduction (e.g. the survey discovered a significant problem), then refusing to budge may be unreasonable and could result in the buyers pulling out. That is not a great scenario if you end up selling the property months later to someone else, and end up in exactly the same position when your second set of buyers have their survey done.

Obviously, the estate agent has to follow your instructions. So just ask them to tell the buyer there is no reduction if that is your decision. There is no need to mess around with letters etc.

Surrey_EA

steampowered wrote: »

If the Op does this, they will be liable to pay two sets of estate agent fees. They'll be liable to the first estate agent which introduced the buyer (regardless of whether it is sole agency or not). And they'll be liable to the second agent.

Eh?
They'll only be liable for a fee from agent1 if the sale reaches a successful completion (although some contracts will stipulate fees are due on exchange) From the long list of posts by the op documenting their sale it seems unlikely the sale to the present buyers is going to reach that point, imho.

If they choose to appoint a second agent to replace agent1 then they should do so on the basis that no fees are due to agent2, in the event the current buyer does finally get their act together and stop messing about.