Estate Agent - is this normal?

ginger_chocolate · 4 September 2018 at 1:09PM

My partner and I have recently started viewing houses. We have a mortgage in principal, an offer on our current property, and are happy with our current mortgage broker and solicitor.

Most of the EAs we've arranged viewings with have asked a few questions about our current position (obviously i'm fine with this) and have tried to sell us broker or conveyancing services but an assertive 'no thank you' has been enough to get the message across and we've still been able to view.

However, I recently booked in to an open house this Saturday and have just had the following email from the EA:

'With our open house events, we book for all the applicants viewing the property to come in to the office and be financially qualified so that when any offers are made, we can confirm for the vendor that all is in place.

It is gives a further mortgage product comparable for what you already have in place with Halifax to ensure you are getting the lowest cost product possible.

What day/time would you be free to pop in to the office so that we can just run through your existing mortgage in principal?'

I feel like this is a sneaky tactic to get me to sign up to their other services.I don't see what info they could possibly need prior to a viewing that can't be sorted by phone and enail. I work full time and making time for viewings is hard enough as it is without havong to schlep across town to be sold something I don't need.

Is this normal? Am I being unreasonable? Can they really stop me viewing a property if I don't do this first?

I am not that experienced dealing with estate agents so any thoughts would be really appreciated. Thanks

G_M · 4 September 2018 at 1:17PM

Yes they have a duty to confirm you can afford whatever offer you make, especially if the seller has requested this.

So show them your source of funds. However
* politely decline their own mortgage broker service
* inform them you will consider their legal serices (but when it comes to it, use your own!)
* do not (I repeat not) show them the full extent of your finances - this just helps them negotiate the price up as they know your limit! Ask your mortgage broker to write a letter confirming your can afford £X (being the amount you think you'll offer) rather than the full amount of your MIP and savings.

Surrey_EA · 4 September 2018 at 1:20PM

I would say that it was definitely not normal.

However, some of the large corporate chains treat this kind of approach as standard practice - Looking at you Connells. The Countrywide group can also be notorious offenders.

Politely decline and remember that an EA must not discriminate against you as a buyer on any offer you may wish to make, if you do not wish to use their financial services provider.

Perhaps consider replying that you have arrangements in place, and appropriate info can be supplied as and when you reach the point of offering.

ReadingTim · 4 September 2018 at 1:20PM

They all try it on to some extent, but I'd suggest it takes some brass neck to be so forthright about qualifying viewers without some sort of agreement from the vendor that they can 'weed out timewasters' (as they'll have put it). You have no obligation to do as they ask, as they have no obligation to take a booking from you to view the house.

So ultimately it comes down to how much you want to view the property, and play the game? Your call.

ginger_chocolate · 4 September 2018 at 5:50PM

Thanks everyone.

I totally understand the need to weed out timewasters with viewings. Most of the EAs I've arranged viewings with have asked me some sensible questions about our current position and I've answered them. I'd also be happy to get my broker to get in touch to confirm what we could afford. I also don't really have a problem with EAs advertising their other services, as long as they aren't too pushy. I just thought it really odd that they want me to "pop into the office" (which, incidentally, is the other side of town from where I live and work, so not exactly a "pop"!) to check that I'm financially qualified and that this seems to be inextricably tied up with their mortgage advisory service

So ultimately it comes down to how much you want to view the property, and play the game? Your call.

I would quite like to view it. It's in an ideal location and seems to fit our needs. What we're looking for isn't exactly niche, and there are other suitable houses out there, so I'd probably get over it if I couldn't view this one. They are quite a big agent locally though, and I'm not sure if I want to rule out all properties sold by them!

I'm just wondering if it's reasonable to reply and say that I'm more than happy to confirm some things by email or phone, but firmly decline the mortgage advice and say that I'm not free to visit the office before the arranged viewing? Or will that make them think I'm not a serious potential buyer?

Thrugelmir · 4 September 2018 at 6:19PM

ginger_chocolate wrote: »

Or will that make them think I'm not a serious potential buyer?

Is a way of weeding buyers out. To those that are seriously interested. With the intention of finding at least one party on the open day that make genuine offers.

Bass_9 · 4 September 2018 at 6:36PM

The main reason is to flog their services. Just get your broker to confirm you're financially viable and If they're awkward, remind them that they cannot discriminate against you.

Thrugelmir · 4 September 2018 at 6:54PM

Bass_9 wrote: »

The main reason is to flog their services.

More money if they sell the property.

Likewise time costs a business money.

Estate Agent - is this normal?

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