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Estate agents

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2

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  • dunroving
    dunroving Posts: 1,881 Forumite
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    Does a good EA not sometimes help to chase things up if vendor's solicitors (or vendor!) are being tardy?
    (Nearly) dunroving
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
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    ric1982 wrote: »
    Instead buyers and sellers would be encouraged to sign lock-in agreements and face losing money if they backed out of a deal without justification.

    Think this is great initiative. I really hope they tackle gazumping issue. Anyone knows when this is coming out?

    Yeah and a million other issues, really they should just have online bidding house database system. Fully open bids, anyone can snipe like ebay until bidding is over. Breaking deal after that = penalty.

    Estate agent should be for security and funds checking service + show people around and verify bidders. Assisting after deal is made also etc.

    All the sales tactics and any other shady BS from EAs is annoying and can cause deals to fail.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
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    PokerPlayer111 wrote: »
    Breaking deal after that = penalty.
    Which just brings us back to what justifiable reasons might be for breaking. And how you deal with forming chains etc.
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
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    davidmcn wrote: »
    Which just brings us back to what justifiable reasons might be for breaking. And how you deal with forming chains etc.

    Got some ideas but dont really know its ugly out there.
  • googler
    googler Posts: 16,103 Forumite
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    PokerPlayer111 wrote: »
    ... should just have online bidding house database system. Fully open bids, anyone can snipe like ebay until bidding is over. Breaking deal after that = penalty.

    ... which basically would be a close mirror of the Scottish system, without the online aspect controlling the process.
  • googler
    googler Posts: 16,103 Forumite
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    PokerPlayer111 wrote: »
    Got some ideas but dont really know its ugly out there.

    Remind us all again how many properties you have bought and/or sold ... ?
  • PokerPlayer111
    PokerPlayer111 Posts: 343 Forumite
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    googler wrote: »
    Remind us all again how many properties you have bought and/or sold ... ?

    Not until i see your IQ test results
  • ashe
    ashe Posts: 1,555 Forumite
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    anselld wrote: »
    If you are in the process of buying, ie offer accepted, then the EA has no role. It is down to the Solicitors.

    On which point, EA having professional qualifications is unlikely to smooth the process if Solicitors are anything to go by.

    Whilst this is technically correct, our vendor's EA has been instrumental in getting the move done quickly. Both ours and the vendors solicitors are very reactive in nature and everything goes out in the post. The vendors EA has proactively chased the vendors solicitor for dates, responses to queries etc and acted as a go between. We'd be looking at several weeks more delay without his intervention.
  • googler
    googler Posts: 16,103 Forumite
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    PokerPlayer111 wrote: »
    Not until i see your IQ test results

    I've never taken one. Over to you.
  • steampowered
    steampowered Posts: 6,176 Forumite
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    I think this is a great idea. Well done to the government on this one.

    The current situation for regulating estate agents - i.e. the agent gets to choose from 4 voluntary ombudsman who are all toothless - is a bit of a waste of time.

    I think a powerful regulator, which has the power to award compensation and strike off bad estate agents, would do wonders for the industry.
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