What EA can disclose.

Just123

Over 6 weeks I instructed EA to market my house.I have some viewings but unfortunately no offers.
Today I have another prospect buyers around.By mistake I forgot to switch a baby camera in my son bedroom and it recorded a part of the conversation between EA and a couple.Nothing extraordinary.But when the couple asked for the price EA said" it is 260 k but we ( EA) valued it 255k just the vendors wanted to go with 260k so you have some room for negotiation."
Can EA disclose that information?
It is just 5 grand but I have mixed feelings about EA .

G_M

I'd be furious.


Change your agent. If they try to say you have a contract with them, play them the tape and tell them you will complain to the ombudsman. Which ombudsaman scheme do they belong to?


* The Property Ombudsman
* Property Redress Scheme

diggingdude

Keep that recording and leave them

Just123

The Property Ombudsman

Just123

Be honest I am MAD.My husband is more calm .But it just making my wonder about the hole marketing services wich we're getting.Is 6 weeks 8 viewings and no results .

Just123

What consequences they can face if I'll complain to the Ombudsman ?

Thrugelmir

Just123 wrote: »

It is just 5 grand but I have mixed feelings about EA .

Would you accept an offer of £255k or thereabouts?

Did the previous viewers give feedback of the property being overpriced?

davidmcn

Just123 wrote: »

But it just making my wonder about the hole marketing services wich we're getting.

I wouldn't market it as a "hole"

Is 6 weeks 8 viewings and no results

I assumed from your first post your complaint was about the EA encouraging offers which were too low, but you've had no offers at all? Maybe even £255k is too high to suggest.

eddddy

Just123 wrote: »

What consequences they can face if I'll complain to the Ombudsman ?

The Property Ombudsman's code of practice is here:
https://www.tpos.co.uk/images/Codes_2019_a5/TPOE27-8_Code_of_Practice_for_Residential_Estate_Agents_A5_-_Effective_1_June_2019.pdf

But I'm not really sure that they've broken any of the Ombudsman's rules.


It's a fairly common tactic for an EA to say things to 'hook' a buyer into bidding.

For example, if the EA knows you will not accept less than £260k... the EA will try to 'hook' the buyer by saying:

• "If you make an offer of £250k, I think you stand a very good chance"

When that's rejected...

• "I think you'll need to increase the offer to £255k, I'm pretty sure they'll accept that."

When that's rejected...

• "It seems like the sellers are holding out for £257.5K, so it's worth going that extra £2.5k"

When that's rejected...

• "It's a great house, I'm sure you wouldn't want to lose it for the sake of £2.5k. It's definitely worth offering £260k."

(Obviously, it's a bit more complicated than that, and that kind of strategy won't always work.)

welwynrose

I’m surprised the potential buyers didn’t know how much the house was on the market for

getmore4less

Just123 wrote: »

Be honest I am MAD.My husband is more calm .But it just making my wonder about the hole marketing services wich we're getting.Is 6 weeks 8 viewings and no results .

6 weeks 8 viewings no offers.

Often a sign of being too overpriced for people to consider offers in case you are insulted.

EA often go high adding another £5k may just put it into vendor with unrealistic expectations.

What do the more like this numbers tell you about about what people are buying and how active the market is.