Offer rejected, using another EA?!

VintageHistorian

How long ago was this? If it was this week then I'd leave it a few more days, possibly even the weekend, and then email (not call) on Monday with a higher offer, stating that it's a full and final offer and the condition is that after the valuation from your mortgage company, your vendors remove the listing from both agents.

Sounds like the EA is a bit pushy, possibly motivated by the knowledge that another agency is now in competition to find a buyer. I know it's horrible dealing with rude and aggressive people, but going through the 2nd EA will make things worse.

If you like this house enough then bite your tongue and accept that sometimes there's more than a monetary price to pay for a house that you love.

Househun

It all literally happened within 24h. That is why it felt so pushy. I saw the flat in the afternoon and was told they had not received a single offer in 2 months. Was chased, made an offer at noon the next day and was told they suddenly had 'received interest' (during the night presumably). At 2 was asked if I could increase and I said I needed to discuss it with my partner, EA says ok let me know when you can. Then he calls next to say the vendor wants to know now. I said would not be increasing there and then and he says 'your offer will not be considered if you dnt increase, and I have another one and viewings''. No offers for 2 months but the day I offer they receive interest/offers et al. I know he is doing the vendor's interests but buyers should not be treated like a bunch of idiots. I would have increased without issues if he'd given me a few days to think it through/discuss the amount with my partner.

Bass_9

I would be looking at other houses to be honest, have you seen anything else you like?

Househun

Yes. Will go ahead with viewings. I even saw another one I liked with the same EA but obvs is a no-go!!!55357;!!!56834;
I am in no rush tbh and houses affordable for 1stTBs in London are hardly 'dream home' material anyway (including this one)

boo_star

Househun wrote: »

It all literally happened within 24h. That is why it felt so pushy. I saw the flat in the afternoon and was told they had not received a single offer in 2 months. Was chased, made an offer at noon the next day and was told they suddenly had 'received interest' (during the night presumably). At 2 was asked if I could increase and I said I needed to discuss it with my partner, EA says ok let me know when you can. Then he calls next to say the vendor wants to know now. I said would not be increasing there and then and he says 'your offer will not be considered if you dnt increase, and I have another one and viewings''. No offers for 2 months but the day I offer they receive interest/offers et al. I know he is doing the vendor's interests but buyers should not be treated like a bunch of idiots. I would have increased without issues if he'd given me a few days to think it through/discuss the amount with my partner.

It could just be coincidence, particularly when there are two EAs involved who likely don't know much about what the other is doing.

I had a second viewing cancelled in a property about 25 minutes before I was due to view it as it had an offer accepted in it. The property had been on the market for around 10 months and according to the EA, without much recent interest. So these things can happen.

Or they could just be making up fake viewings to panic you into upping your offer.

If it were me I'd stick with my original offer and keep looking. If they're playing games then they'll be back on the phone within a week asking you if you're still interested.

steampowered

I think it would be a bit silly to let your feelings about the EA change your decision.

It is not the EA that is going to be living in the property !

If you want the property and are prepared to pay more, then it sounds like you should increase your offer - but perhaps give it a few days before you do so.

By the way, it is perfectly proper for an EA to push you to up your price and to make a decision. It is their job to do that!!! The EA is supposed to get the seller a sale as quickly as possible and for the highest price possible. It is very common for people to put in 'low' offers to start with and for them to get rejected out of hand so I imagine the EA is just trying to find out what your 'real' starting price is.

kirtondm

How low was your inital offer?

Their is normally some expectation you will raise unless full asking price or close too

ignoring the estate agent shaniningans the real issue is probably you have made an unacceptable offer as far as the seller is concerned and they want to meet somewhere in the middle.

You are probably quite far adrift if the agent hasn't come back with a suggested counter offer.

It depends on area but here properties tend to sell with 5% of sensible asking prices.

Househun

7.5% below asking price, with the possibility to increase it and bring it about 5%lower than asking price, that was my idea (I could even match asking price but the house needs work and the price seems steep compared to other properties in far better locations. This one is nowhere near a train station).
Prices are all over the place here btw, not much is moving and most properties I am viewing are being heavily discounted.

bertiewhite

Thrugelmir wrote: »

EA acts for the vendor.

Yes but the EA could be on commission which is why I'm assuming the OP thinks they might be acting like they are.

Are we saying that no EA has ever acted without integrity?

ScorpiondeRooftrouser

bertiewhite wrote: »

Yes but the EA could be on commission which is why I'm assuming the OP thinks they might be acting like they are.

Are we saying that no EA has ever acted without integrity?

The EA is on commission, almost certainly.

That doesn't take away the fact that estate agent is being paid to get as much money out of the OP as they can. That's why the vendor has hired them, to do exactly that.

Therefore the only way they could be acting without integrity here is to push the vendor to take a lower offer without trying to force the price up, in order to make sale at any price and get their commission.

I don't know why so many house buyers don't get that the estate agent is their opponent. They are supposed to be.