Estate Agents

manbat

B**tards haha.

Some out there are very snakey. One in particular who tried milking myself and the girlfriend against a ghost bidder and got his hand caught in the cookie jar. Good luck to them haha.

Anyone else had experiences like this?

Lyn256

C'mon-give us the juicy details!!!!

TheDriver

in this climate, most couldn't milk a chicken........

oxygen

manbat wrote: »

B**tards haha.

Some out there are very snakey. One in particular who tried milking myself and the girlfriend against a ghost bidder and got his hand caught in the cookie jar. Good luck to them haha.

Anyone else had experiences like this?

Yea, when the market was better an estate agent tried to pit me against a ghost bidder as well. I backed out and he phoned me back an hour later saying the "other bidder" had backed out, and my original offer was good.

Bastard nearly cost me €30k. There was\is no regulation, crazy crazy carry on. Its much better in England, the estate agent works for the buyer and not the seller, its makes way more sense and is a much fairer system. I dont know why they never brought it in here. You can see an example of this setup on the "Location Location Location" tv, it looks like an excellent system.

whippet

i had an EA recently use me as a low ball party to set the floor on a price that the vendor would accept and then at the 11th hour introduced a new bidder who had the cash available, ready to sign contracts offering 2k more than us.

It all came to light when I assumed it was a ghost bidder and ignored the EA assuming that they would come crawling back. I was a tip off from a local who I had some dealing with that the bidder was genuine and was a friend of the EA. When I got back in touch the EA told me the deal was done no more offers etc ...

long story short .. I contacted the vendor directly and as it turned out the vendor hadn't even responded to the late bidders offer. The vendor was rightly pissed with the EA and instructed them to accept our offer and entertain no others

Ortiz

Some are good - They are motivated to get the very best price for their client and do so in an ethical and skilled way. Buyers will always have a gripe with estate agents as the agent ultimately wants them to pay as high a price as possible in order to get the best result for their client.

Some are bad - Some don't care about getting the best price for their client and will simply try and secure any deal possible on a property to make a quick buck. They will convince their clients to accept an offer of any level even though patience and further marketing could result in higher offers.
Others will create phantom bids and don't know the meaning of ethics. They will do anything to get the result they want and cheat anyone they can to get there. They can be inept, inefficient and unprofessional in the way they act.

Obviously the bad agents taint the whole profession because they are some of the worst professionals in any industry but there are definitely good agents out there. As a seller I would shop around and take my time to find the right agent. Unfortunately as a buyer you're dealing with estate agents is dictated by the property you want so you can't control who you deal with!!

Gloomtastic!

oxygen_temp wrote: »

Its much better in England, the estate agent works for the buyer and not the seller, its makes way more sense and is a much fairer system. I dont know why they never brought it in here. You can see an example of this setup on the "Location Location Location" tv, it looks like an excellent system.

Huh? Are you sure about this? When we sold in the UK te EA worked for us. They were still useless though......

oxygen

Gloomtastic! wrote: »

Huh? Are you sure about this? When we sold in the UK te EA worked for us. They were still useless though......

Sorry, no Im not sure, I think then it might be estate agents for both parties. You definitely use an agent when purchasing a house, and this agent deals with estate agents on your behalf.

Apologies for the miss information.

manbat

Lyn256 wrote: »

C'mon-give us the juicy details!!!!

Agent knew from a previous offer on another property that we had enough to cover the asking on the house...

We had an offer on the house 10k below asking, for 3 weeks the agent went very quiet and we kinda got turned off the property for various reasons.

Agent came back and said there was another couple on the scene who are willing to go 5k below the asking and if you were to match that offer its yours because vender would like to go with FTBs. We declined, then the very next day the property drops by 20k!!!

I found this crowd to be awful to deal with on both houses, very tempted to post a letter to the venders and let them know what a tit the agents are being on their behalf. We were extremely keen (stupidly we know now) on this house at the beginning and had he not have waited the 3 weeks we more than likely would have taken the house.

Might ring them back and offer 30k below new asking to wind them up.

StillWaters

oxygen_temp wrote: »

Sorry, no Im not sure, I think then it might be estate agents for both parties. You definitely use an agent when purchasing a house, and this agent deals with estate agents on your behalf.

Apologies for the miss information.

No you don't I've bought and sold in the UK, and it's the same system as here. At the very top end you might employ an agent to source properties but you can here too.