Estate Agents..

[Giraffe]

I think there is always a suspicion that the estate agent isn't acting as you instruct them to. Solicitors the same.

For what it is worth, I think some letting agents get a bad press because they are acting for the landlord and invariably that causes problems at the end of the tenancy when landlords and tenants tend to look at things very differently.

 

[Guinness Boy]

Having now had two chains collapse but being back in a position where we are about to buy and sell again I have recently dealt very closely with four firms. Two were absolutely hopeless lying ineffective cockwombles of the highest order and two (so far) have been excellent. I also play poker every now and again in a school where there are a couple of Estate Agents who are very decent blokes indeed.

Pretty much it comes down to the fact that these are sales people and there is generally a lot of money and emotion involved. I never want to go through the process again, which is a shame as I now know who the wide boys are and who are the good guys.

 

[nwgull]

I think there is always a suspicion that the estate agent isn't acting as you instruct them to. Solicitors the same.

For what it is worth, I think some letting agents get a bad press because they are acting for the landlord and invariably that causes problems at the end of the tenancy when landlords and tenants tend to look at things very differently.

Nah. Letting agents try their best to screw the landlords as well. They're cockwombles of the highest order.

 

[Maverick]

I'm waiting for an NSC estate agent to make an appearance

Here I am!!

I am the manager of a local estate agent and I would back up the estate agent in question and say they have done nothing wrong. If a client makes an offer on any property (they must have viewed it) then by law the agent MUST put the offer forward and its up to the vendor. Can I say that in my opinion the difference in commission in your pocket is not worth the trouble and making the call to the original buyer is not a nice one to make. Thankfully we try to avoid an auction situation and will take 'best and final bids' if we have multiple offers. Doesn't always work but is the best way to be as fair as possible.

 

[Chicken Run]

I just feel like it wasn't managed properly really. How the vendor can decide the people that looked first, but made low offers, and stupid increment bids, end up getting it, as after a 2nd viewing we went straight to asking price is beyond me! Just smells fishy to me... Annoying because it is rare that type of property / location has come up, and with 95% mortgages becoming available again, prices are going to soar I fear.

Where was the property?

 

[The Wookiee]

Just felt it was managed well, how the vendor have the impression the first party are more committed, when we got to asking price first, and had everything lined up ?

Remember it's the vendor who is paying the estate agents fee, so it really is the vendors choice who they choose to sell their house to !!

However I noted that you had sorted out your own finance via your own IFA, perhaps the other buyer chose to use one recommended by the estate agent so therefore persuaded the vendor to accept their offer it would mean a kickback from the recommendation ?

 

[pasty]

I guess like in all walks of life, there are good ones and bad ones. We had our house on the market for nearly 2 years with estate agent "A", who in all honesty was absolutely googling useless. The marketing of the house was shite, they only seemed to do viewings one at a time, and each time we got an offer, they stopped marketing the place at all.

We threatened to cancel with the agent on 3 separate occasions yet each time a "firm offer" suddenly materialised. 3 times we accepted the offer, and 3 times the alleged buyer pulled out, resulting in us losing 2 properties we wanted to buy.

We eventually got fed up with agent "A", cancelled our contract and went to estate agent "B". They sold our house within a month and, quite incredibly, we later found out our buyer had previously been on the books of agent "A" for about a year, but they had never even been offered our property!!

 

[Cadiz Seagull]

I'm waiting for an NSC estate agent to make an appearance

 

[turienzo's lovechild]

letting agents are my least favourite bunch of people on this planet

quick question, but are they as bad everywhere else as they are in Brighton? Or is it a phenomenon specific to down here?

 

[Vegas Seagull]

Was looking at a house 2 weeks after it had been on the market, was told there was another party interested, but making very low bids, so bid away. We joined in, bidding war goes on, we then offered full asking price on Saturday, other party came back with a bid that was still not asking price, we get our IFA to send over proof of mortgage etc, to show we were ready and serious, and just now the original party offer asking price, and magically the seller changed his mind to go with the original couple as they were there first so showed more commitment (!)

If you were happy to pay the full asking price & it was fair value & you could afford it, then you could have offered it immediately, on the condition if accepted it would be withdrawn from market & it would be yours now.
In 10 or 20 years time the 5/10/£20k difference now WILL be irrelevant then.
When you find a better one dominate the situation

 

[The Wookiee]

Here I am!!

I am the manager of a local estate agent and I would back up the estate agent in question and say they have done nothing wrong. If a client makes an offer on any property (they must have viewed it) then by law the agent MUST put the offer forward and its up to the vendor. Can I say that in my opinion the difference in commission in your pocket is not worth the trouble and making the call to the original buyer is not a nice one to make. Thankfully we try to avoid an auction situation and will take 'best and final bids' if we have multiple offers. Doesn't always work but is the best way to be as fair as possible.

What if one buyer is using your financial services and the other isn't and the vendor wants you to advise who is the best buyer ?

 

[Springal]

Where was the property?

Worthing

Remember it's the vendor who is paying the estate agents fee, so it really is the vendors choice who they choose to sell their house to !!

However I noted that you had sorted out your own finance via your own IFA, perhaps the other buyer chose to use one recommended by the estate agent so therefore persuaded the vendor to accept their offer it would mean a kickback from the recommendation ?

This is true, and my IFA did hint that this might have been the case. He spent 15 years in an Estate Agents, as an IFA, and he said it wouldn't surprise him if this might have been the case.

If you were happy to pay the full asking price & it was fair value & you could afford it, then you could have offered it immediately, on the condition if accepted it would be withdrawn from market & it would be yours now.
In 10 or 20 years time the 5/10/£20k difference now WILL be irrelevant then.
When you find a better one dominate the situation

I guess thats my point. We got to 220k first, and 2 days passed, then magically the original party bid, and get the house. Just doesn't sit right that I get to asking price first, and don't get it?

Oh well time to move on. Worst thing is, I have a flat to rent out, when I find somewhere, which just makes me fear even more problems

 

[Billy the Fish]

letting agents are my least favourite bunch of people on this planet

quick question, but are they as bad everywhere else as they are in Brighton? Or is it a phenomenon specific to down here?

It's universal I think. I hold Leaders in the same regard as paedophiles, if not worse. Just lying useless c**ts the lot of them.

 

[Guinness Boy]

It's universal I think. I hold Leaders in the same regard as paedophiles, if not worse. Just lying useless c**ts the lot of them.

Me: We'd like a 2 bedroom flat please. Anywhere in Brighton except Kemp Town.

Leaders: Sure, meet us here at 1.30

(At flat at 1.35)

Me: This is a 1 bed flat. In Kemp Town.

Leaders: Can we credit check you now?

Me: F*** off.

First and last time I dealt with them. Worst company in Brighton.

 

[Tricky Dicky]

letting agents are my least favourite bunch of people on this planet

Really ? So, worse than politicians and (some) journalists, then.

 

[Maverick]

What if one buyer is using your financial services and the other isn't and the vendor wants you to advise who is the best buyer ?

Then that would be up the agent. Again though the difference in money in my pocket is about £30 so I would still rather go with the best chain

 

[Dusty_Fryer]

When I was an agent, some of us were idiots, some of us were okay. The same as the rest of humanity. Some of my clients refused to accept better offers from people they didn't get on with. Some people came into the office brimming with contempt before you've even spoken a word to them. Some people would go to vendors' houses and gazump other people who had done things properly just to try and get one over on the agents. Horrible job. Nothing but empathy with anyone who has to do it.

 

[Giraffe]

letting agents are my least favourite bunch of people on this planet

quick question, but are they as bad everywhere else as they are in Brighton? Or is it a phenomenon specific to down here?

There are a large number of unregulated letting agents in Brighton and Hove. If in doubt check they are members of ARLA or NALS which at least will mean they won't be able to steal your money as both are regulated bodies that carry out checks on client monies.