Estate agents now knows my affordability...

freeof1

If what the other posters say is true (which I suspect is the case) and they've revealed your data to the EA then it would be great if you complain and stick it to them. And I have a few estate agents' faces in mind when I say that as I'll be vicariously sticking it to them through you.

However in reality you'll be shooting yourself in the foot if you do it. It's probably the MB that's in breach rather than the EA, and if they're punished I doubt you'd get any compensation other than an apology.

Not to mention its not worth getting on the EA's bad side. If a property you like comes up through them then they can get their own back at you if you make an offer by passing it on to the owners but make some off the record comments about you being difficult to deal with etc.

The only reason it matters if they know your affordability is if you want to use the "I can only offer up to X because I can't afford any more" negotiating tactic because they'll see through it. But that only works some times and it's better if you just stick to what you think a place is worth and what the max you'd be willing to pay, and go by those two numbers.

Good luck.

freeof1

Edit: I meant to say "if what the other posters say is true and they've breached data protection regulations by revealing your data to the EA..."

kingstreet

What EXACTLY has the broker told them?

Were details given, or was a "what you are looking to go upto" provided?

An EA will often ask a broker to ensure you are in the right price bracket.

[Deleted User]

The EA was implying they knew your financial situation, but your MB might not have revealed as much as they implied. They may have just been trying to make you feel they knew your situation better than they do.

Lets face it, EAs aren't exactly associated with being clear or truthful.

kingstreet

I worked directly for three EAs and the most they would have got from me was how much you were looking to pay for a property and that you were financially qualified.

diggingdude

This could work in your favour. Be clear you are not bidding more than you decide not them, but remind them that they now know you are good for that money

shortcrust

It’s revealing that it was mentioned so casually. Almost as if it’s a mundane everyday occurrence...

Fackers

kingstreet wrote: »

What EXACTLY has the broker told them?

Were details given, or was a "what you are looking to go upto" provided?

An EA will often ask a broker to ensure you are in the right price bracket.

No details from me, I’ve not given any affordability or indication, just asked for a viewing, looked around and then she asked if I liked the property and wanted to make an offer... So I said that I will need to have a think and look over things. So she replied, yeah, because this house is within your affordability after chatting with MB... I didn’t twitch but noted it.

diggingdude wrote: »

This could work in your favour. Be clear you are not bidding more than you decide not them, but remind them that they now know you are good for that money

I’ve had a phone call this morning asking where I’m at and when I said, I’d likely want to make an offer she was happy and said great, email it over to me... I then asked if there was another offer placed yet which she replied, yes it’s close to the asking price (of course it is). She was very vague and stumbled a lot when I asked what the person’s circumstances were (cash buyer, then it was no chain, then she’s in a 1 house chain etc)... I suspect a fabricated offer, so I asked her to email me the confirmation of this offer (without revealing the amount exactly)... she asked for understanding of that and sounded flustered...

Anyway got an email and it’s as vague as the outcome of Brexit, no house number just labelled the street and “there is a proceed able offer”.

I’ve still gone ahead and submitted my offer which is 10% below asking based on comparables etc and I’ve yet to hear back (she said she would let me know if it’ll be beaten)...

shortcrust wrote: »

It’s revealing that it was mentioned so casually. Almost as if it’s a mundane everyday occurrence...

Her whole attitude is mega casual... she caught herself in the mirror as we walked past one in the bedroom lol. Can sometimes be much easier to negotiate in this OR it could be a huge game to play and frustrating.

cayennepepper

I would ask your broker exactly what he/she has said and take it from there. Having said that, your affordability has nothing to do with what you think a property is worth and the amount of work that you want to do to it so you can use that card

diggingdude

Fackers wrote: »

I’ve had a phone call this morning asking where I’m at and when I said, I’d likely want to make an offer she was happy and said great, email it over to me... I then asked if there was another offer placed yet which she replied, yes it’s close to the asking price (of course it is). She was very vague and stumbled a lot when I asked what the person’s circumstances were (cash buyer, then it was no chain, then she’s in a 1 house chain etc)... I suspect a fabricated offer, so I asked her to email me the confirmation of this offer (without revealing the amount exactly)... she asked for understanding of that and sounded flustered...

.

In this case I think the key will be to call their bluff and stand firm because as you say they know you can afford more so will be like vulchers around road kill