EA - are they out of order ?

MadMonkey

Hi - we had our house on the market with X - we then got a buyer who also had their house on with X.

The chain broke at the bottom (our buyers buyer) and I just found out then when looking at dropping their price for a quicker sale to mend the chain the EA suggested dropping lower and renegotiating the price they were buying our house for to compensate for the loss.

Am I right to be mightily annoyed at this ?

We had actally given 2 weeks notice to our EA cause they were crap and were 4 days away from marketing with another agent when we had the offer on our house.

Were the EA thinking that the whole chain would re-noegotiate ?

Or am i just over-sensitive because I don't like them ?

Doozergirl

I think you're being over sensitive. There's nothing wrong in asking.

If the chain collapses you have no sale. If your buyers ofer a lower price in order to save it it's better than a blatant kick in the teeth. You have the option to refuse it and keep on looking for another buyer.

I don't think there's anything wrong with laying your cards on the table personally.

MadMonkey

Thanks - I did think maybe my feelings were tainted by the fact that they are a load of snakes who have done absolutely sod all to sell my house really.

RHemmings

MadMonkey wrote: »

Am I right to be mightily annoyed at this ?

We had actally given 2 weeks notice to our EA cause they were crap and were 4 days away from marketing with another agent when we had the offer on our house.

Were the EA thinking that the whole chain would re-noegotiate ?

Or am i just over-sensitive because I don't like them ?

Just out of curiosity, what do you think the EA should have done?

MadMonkey

RHemmings wrote: »

Just out of curiosity, what do you think the EA should have done?

IMO they should have ascertained exactly how low our buyers could sell for whilse still buying our house.

We were initially on at 160 (15k lower than the valuation) and sold for 147 so there was not really a huge amount of re-negotiation left.

Our buyers however could have dropped a lot lower but the EA never asked them that - they were more interested in dropping "our" price.

As it is the EA have lost the comission as our buyers have sold to a cash buyer.

I just felt that there was a lot more they could have done to sell the house before looking at re-negotiating our price.

If we had accepted a lower price then our seller would have had to and so on.

We would have all lost money on the sales except the EA who are on fixed price fee so win whatever we all sell for.

mr.broderick

I read the title didn't read the post but will reply with ... yes.

brit1234

Prices are going to have to drop to complete chains from now on. I think the estate agent is right even if it is not what you want to hear. The market has completely changed from a week ago.

Davesnave

The market has completely changed from a week ago.

That is very precise. Please elucidate!

Or do you just mean that even the newspapers have found out?

Jorgan_2

When I sold my last house, a problem developed below with the chain, the property at the bottom of the chain had to have the lease extended & it was going to cost £8,000. The whole moving process stalled as a result. By going up & down the chain I was able to get people to change their selling prices so we had £4,000 towards the costs. I contributed the remaining £4,000 and the sale proceeded.

The important thing was to get the chain moving, people needed to move for a number of reasons and by getting a series of small contributions & a larger one, that it was what was achieved. I never lost sight of what people needed to achieve. Is that out of order?