How to deal with slimy Estate Agent? Can I cut them out?

person2

Hi everyone,

I'm trying to buy my first flat, and I'm already sick of the estate agent playing games. Hopefully someone can help? Apologies it's a bit long.

Flat asking price is 330k. Seller is corporate. I have mortgage AIP through a financial advisor, a solicitor lined up, a large deposit & am chain-free.

What's happened so far:

I viewed a flat with Estate Agent A - but they were unable to provide me any details on service charge or ground rent. After a week, I felt like I was going to miss out on the flat due to the agent being so useless, so I enquired about it through Estate Agent B. This EA was much more helpful and had all details to hand. They also told me there was an existing offer for 320k, but that it had been declined as the seller wouldn't accept less than 330k. I considered offering 325k, but I was worried the other buyer would then go up to 330k and I'd lose out, and given that I actually think 330k is a fair price compared to other flats on the market in the area, I decided to just offer the asking price.

This is where the games start. They tell me they're submitting my offer to the seller and will let me know. I wait, ask again, they say they're 'Still waiting to hear back' and will ring me as soon as they do. Eventually 3 days later, they ring back claiming that 'I think it will be more likely to be accepted if you up to 335k'. The way they worded it made it sound like the offer had been rejected, but in reality, it was clear they hadn't even submitted the offer and were trying to trick me into thinking it had been rejected to get another 5k out of me. I said no and that 330k was my final offer. Later that day, a different person at the EA rings me trying to negotiate me up to 335k. Then 334, down to 331k. I decided to call their bluff and said 'I understand from your colleague XYZ that I am the only offer you've had on the flat, right?' 'Yes that's right, we haven't had any other offers, but we feel your offer will be accepted if you offer 331k instead of 330k'. I said no.

Finally, another guy calls me the next day to try again to push me up to 331k. After some back and forth, I convince him that 330k is my max and that given I am ready to move quickly and am chain-free etc, that the seller can rest assured it will be a smooth and quick sale.

Finally, they submit my offer, and after chasing them up a few times, they tell me the offer is 'Preliminarily accepted'. I chase them up, but apparently the seller needs a new solicitor and has a few different company decision makers to check with before officially accepting. EA tell me on Friday morning he is going to speak to the seller today and will let me know 'As soon as possible'. Obviously he didn't let me know, so I eventually ring at 5 PM on Friday and turns out it was accepted earlier in the day but 'We can't send out the sales memorandum now as it's too late and is the weekend, will have to wait until next week'. I think they wanted another weekend to market the flat.

This brings me to yesterday (Monday). I ring up first thing in the morning and ask for the sales memorandum to be copied to my solicitor to start the process and remove the flat's listing from Zoopla, Estate Agent A's website and to list the flat as Sold STC on their website (Which they said they do as soon as the memorandum has been sent). EA claims that 'My colleagues aren't in until 11, and then we need to check a couple of details before we can send'. He won't tell me what details they need. I ask if it's anything I can help with by sending over to them, cue another vague response about it having to be late afternoon. Delaying again.

So I ring back in the afternoon, and they won't answer any of my calls. And that brings me to today.

Can someone help explain where I've gone wrong?

What should my next move be?

I'd also like to know whether it would be a bad idea to find out who the seller is through land registry and contact them directly?

Is it possible to cut out the EA?

Thanks

Irishpearce26

So firstly £1k-£5k makes no difference to the EA as it wont greatly affect the amount they get from commission they get. They want a quick sale so it is likely they passed on the offer as they are contractually bound to with the seller. It sounds like as you say its a corporate seller who has a figure they want to reach and wont budge. 

Cutting out the EA is not for you to decide as the agreement is between them and the seller. As its a corporate seller they will want to go through the EA. If you think its hard getting information from an EA it will be even harder through corporate channels.

person2

But the seller has accepted my offer, so what's the problem? If they wanted more, why would they confirm with the solicitor that they've accepted? And just as 1k will make no difference to the seller's commission, how is 1k going to make any difference to a corporate seller who probably turn over millions per year? It's not like my offer is below asking price?

person2

person2 said:

But the seller has accepted my offer, so what's the problem? If they wanted more, why would they confirm with the solicitor that they've accepted? And just as 1k will make no difference to the seller's commission, how is 1k going to make any difference to a corporate seller who probably turn over millions per year? It's not like my offer is below asking price?

Can't figure out how to edit - but it should say EA's commission, not seller's commission. Thanks.

Irishpearce26

person2 said:

But the seller has accepted my offer, so what's the problem? If they wanted more, why would they confirm with the solicitor that they've accepted? And just as 1k will make no difference to the seller's commission, how is 1k going to make any difference to a corporate seller who probably turn over millions per year? It's not like my offer is below asking price?

Corporate always want more. It is likely that the offer has to be ratified by someone in the company before the EA can issue a MoS which then has to be ratified by a colleague in the office to ensure all details are correct.

They may also want to check your proceed ability i.e. your decision/agreement in principle etc.

With a corporate seller everything will take longer as there is a chain of command.

user1977

Doesn't sound like anything has gone wrong other than they're being a bit slow. If it's a corporate seller then it's likely there isn't just a single point of contact who can say yes to it (or if there is, it's sitting a pile of other stuff).

person2

I understand what you're both saying, but the seller has already been through that process, that's why it was initially 'preliminarily accepted' for a few days before being fully accepted, because they needed to sign it off. The EA has confirmed with me that they've fully accepted and has received the MoS with details of seller's solicitor, so what's the hold up?

Irishpearce26

person2 said:

I understand what you're both saying, but the seller has already been through that process, that's why it was initially 'preliminarily accepted' for a few days before being fully accepted, because they needed to sign it off. The EA has confirmed with me that they've fully accepted and has received the MoS with details of seller's solicitor, so what's the hold up?

Its not as simple as you think it is. See my previous response. Also bear in mind today and tomorrow will be the busiest time EAs and solicitors will face for years.

pinkteapot

There's another issue here. You were actually introduced to the property by Estate Agent A, and depending on their contract wording it may be them who'll be getting the commission, not Estate Agent B. Did you tell B that you'd already viewed it through A? If they're not aware and become aware, they may become even less helpful and slower to respond. 

theartfullodger

Expect a few estate agents would like to not have to deal with slimy customers....

Met a few myself over the years.  There's unpleasant people in every walk of life - government ministers, traffic wardens, etc etc etc

person2

pinkteapot said:

There's another issue here. You were actually introduced to the property by Estate Agent A, and depending on their contract wording it may be them who'll be getting the commission, not Estate Agent B. Did you tell B that you'd already viewed it through A? If they're not aware and become aware, they may become even less helpful and slower to respond. 

I thought it might be something to do with this - perhaps a dispute over split commission? I was very upfront with Estate Agent B when I first spoke to the manager there about the fact I'd viewed it through Estate Agent A. He seemed perfectly happy to proceed regardless. Is it worth me backing out with the current EA and just re-offering through the one I viewed with? I couldn't care less who gets the commission, they're both equally undeserving.