estate agents

mmm12

i have being looking at an apartment which i am thinking of buying.this apartment is being sold through an estate agent. i know the seller of this apartment and i am wondering would i be better to approach seller directly to buy the property? i mights be able to get it a bit cheaper while the seller will not have to pay commission to estate agent?what do u think?is it worth it? will; the estate agent charge the seller anything if he removes the apartment from the market?

any help apprecitated

thanks

Downtime

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

whizzbang

Downtime wrote:

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

*cough*estate agent*cough*

I think it is a great idea, chances are the estate agent already has their hands full selling other properties. Alls fair in love and war etc... so long as you are not breaking a contract or anything.

Hitchhiker's Guide to...

Downtime wrote:

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

only an estate agent could defend estate agents...

Hitchhiker's Guide to...

mmm12 wrote:

i have being looking at an apartment which i am thinking of buying.this apartment is being sold through an estate agent. i know the seller of this apartment and i am wondering would i be better to approach seller directly to buy the property? i mights be able to get it a bit cheaper while the seller will not have to pay commission to estate agent?what do u think?is it worth it? will; the estate agent charge the seller anything if he removes the apartment from the market?

any help apprecitated

thanks

sounds like a good idea, not sure about the costs though. just make sure you cover yourself with all the legal protection stuff (house survey, deed documents etc).

whizzbang

Downtime wrote:

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

hehethe logic of this is so funny.. it is basically saying "if someone trys to sell you something you are morally obligded to buy it from them and not to get it cheaper somewhere else." So much for shopping around!

mmm12

i wonder if the seller withdrew the prperty in order to sell to me ,would there be a fee the estate agent will charge him ?

JohnnySideburns

Downtime wrote:

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

Hello, Human Doormat!!!!

Estates Agents will screw you. You meet them halfway by screwing them!!!!

stepbar

HMMMMM dont like estate agents any of the ones I have dealt with are only *****

nxbyveromdwjpg

Definately approach the seller, you will instantly save anywhere between 1-5% which would have been the estate agents fee anyway.

Cut out the middleman.

SarahMc

The seller will still have to pay the Estate Agent Commission. The standard contract between EA and Seller states that if the house is sold, regardless or not whether the EA introduced the buyer, the EA gets paid.

Kinetic^

SarahMc wrote:

The seller will still have to pay the Estate Agent Commission. The standard contract between EA and Seller states that if the house is sold, regardless or not whether the EA introduced the buyer, the EA gets paid.

Oh please, the seller can fire the EA anytime and not have to pay him a cent.

dwayneburke

The seller will just have to pay the expenses and advertising plus VAT for the estate agent usually a couple of hundred euro if it has been in the paper etc and also the cost of erecting signs etc.

kluivert

Definitely approach the seller the estate agents are the ones that are over valuing property anyway to make themselves rich so look after number one ok.

Sleipnir

SarahMc wrote:

The seller will still have to pay the Estate Agent Commission. The standard contract between EA and Seller states that if the house is sold, regardless or not whether the EA introduced the buyer, the EA gets paid.

Yeah, if the seller tells the estate agent that he has been approached for a private sale.
All you do is tell the estate agent that you have changed your mind or that you're not happy with the service. Then leave it a few weeks and sell it privately.

Sleipnir

Downtime wrote:

What a great idea - lets do someone out of their commission - so all the work they put into selling the apartment for the vendor goes to waste and they get nothing - how would you like it if your company said they wont pay you for a few days work as someone did it for free?

EA's don't put any work into selling a house anymore. They just need to advertise it on the web and then open the door. It requires very little skill.

chump

Sleipnir wrote:

EA's don't put any work into selling a house anymore. They just need to advertise it on the web and then open the door. It requires very little skill.

To say the least. Worse than recruitment agents in my eyes

JimmySmith

You dont even have to pay the estate agent expenses. You dont have to pay hem a penny unless they sell your house. Some of them may ask for expenses up front though, but if they havent or have and you havent paid them yet you owe them nothing at all. Just tell them, they havent sold your house yet so get lost.

Kinetic^

Sleipnir wrote:

It requires very little skill.

If you can talk on a phone and open the front door of a house........you've made it!!!!!!!!!!!




MOD EDIT: sry, tried to edit your post by mistake. meant to make a new post. (in case you are wondering about the "Last edited by Roundtower2" bit at the end of your message)

Hitchhiker's Guide to...

as we saw on this year's "The Apprentice", some people even fail with the 'opening the door' part!

Kinetic^

Roundtower2 wrote:

as we saw on this year's "The Apprentice", some people even fail with the 'opening the door' part!

Yeah I remember that....brought the wrong keys wasn't it???

Kinetic^

Estate Agents = Cowboys - end of story!!!

vms7ply9t6dw4b

The agent may have "Sole selling rights" if this is the case the vendor is not free to sell the property privately for the duration of the estate agents agency. If the agent has "Sole Agency" then the vendor is free to sell the property privately at any time.

However, if the vendor does sell privately and the purchaser was made aware of the property through the advertising or any promotion by the estate agent then he has done his job which is to "find a willing and able buyer" and the agent will be entitled to recieve his comission even if the transaction does not go through him. This has been held in court and only fair when you think about it

miju

Laylah Many Ragweed wrote:

The agent may have "Sole selling rights" if this is the case the vendor is not free to sell the property privately for the duration of the estate agents agency. If the agent has "Sole Agency" then the vendor is free to sell the property privately at any time.

so let me get this right, a person who doesn't own a house can legally claim "sole selling rights" on a property they don't own until they stop becoming an EA ??????????

never heard of that one

vms7ply9t6dw4b

miju wrote:

so let me get this right, a person who doesn't own a house can legally claim "sole selling rights" on a property they don't own until they stop becoming an EA ??????????

never heard of that one

They cant just claim it out of the blue, the vendor has to agree to it and its not indefinate its for a specific period of time set out in the agents terms and conditions of agency which the vendor agrees to and signs. I dont know what agents are insisting on what but i would imagine the bigger agents would be pushing for sole selling rights