estate agent regulators in waterford?

spankmemunkey

I added the waterford bit because i was unsure as to where to post this thread. but here goes.

Can anybody tell me who regulates estate agents?

barneystinson

What do you mean, regulates?

Who regulates shopkeepers? Or car salesmen?

Roanmore

spankmemunkey wrote: »

I added the waterford bit because i was unsure as to where to post this thread. but here goes.

Can anybody tell me who regulates estate agents?

http://www.npsra.ie/website/npsra/npsraweb.nsf/page/index-en

spankmemunkey

barneystinson wrote: »

What do you mean, regulates?

Who regulates shopkeepers? Or car salesmen?

That kinda puts what you wrote in the shade:p

http://www.npsra.ie/website/npsra/npsraweb.nsf/page/index-en

spankmemunkey

An estate agent in waterford told my friend that 137,000 wasnt enough to secure a house as there was another bid of 140,000 on the house, I speculated on here that they were trying to squeeze us for more money as the sale was a cash sale and they thought the person must have the money we can get more out of them. We said no were not going higher and if the bid of 140,000 falls through let us know. The house sold a few months later for 134,000 as we found out on the property price register and it looks like the estate agent was merely trying to get more money out of us and its something that i think needs to be reported.

wellboytoo

spankmemunkey wrote: »

An estate agent in waterford told my friend that 137,000 wasnt enough to secure a house as there was another bid of 140,000 on the house, I speculated on here that they were trying to squeeze us for more money as the sale was a cash sale and they thought the person must have the money we can get more out of them. We said no were not going higher and if the bid of 140,000 falls through let us know. The house sold a few months later for 134,000 as we found out on the property price register and it looks like the estate agent was merely trying to get more money out of us and its something that i think needs to be reported.

The only thing I would say was had you cash or had the eventual buyer?
This is the big stumbling block out there at the moment cash buyers are closing sales for less money because of the valuation required for a mortgage etc, anyone selling in this market wants out fast and won't wait for you to get a mortgage.

spankmemunkey

wellboytoo wrote: »

The only thing I would say was had you cash or had the eventual buyer?
This is the big stumbling block out there at the moment cash buyers are closing sales for less money because of the valuation required for a mortgage etc, anyone selling in this market wants out fast and won't wait for you to get a mortgage.

I think the problem was we had cash. The sales agent thought im gonna get more out of these people. Its the person who was selling their house i feel bad for. They had an offer from my friend of 137,000 and in the end his estate agent got greedy looking for a higher sale price from a cash buyer to increase his percentage i presume. The house sold for 134,000 in the end 3000 less than we offered as we found out on the property price register.

barneystinson

spankmemunkey wrote: »

That kinda puts what you wrote in the shade:p

http://www.npsra.ie/website/npsra/npsraweb.nsf/page/index-en

Oops, fair enough! Only came into being in the last couple of years, previously it was the wild west..!

kuang1

spankmemunkey wrote: »

I think the problem was we had cash. The sales agent thought im gonna get more out of these people. Its the person who was selling their house i feel bad for. They had an offer from my friend of 137,000 and in the end his estate agent got greedy looking for a higher sale price from a cash buyer to increase his percentage i presume. The house sold for 134,000 in the end 3000 less than we offered as we found out on the property price register.

"We", then "My friend", then "we", then "we"....
"I have this friend who..."
Come on spank, either you're trying to buy a place, or you're trying to buy a place and don't want us to know about it!!! Which is it to be?

And for an estate agent to increase his percentage? The percentage would be fixed!
But if you meant to increase his/her commission then that's usually in the region of 1.5%...so in your example above that's €45! Small amount to be risking a sale over, especially in these times and ESPECIALLY in the Waterford housing market where there's jack siht going on!

Dicky Pride

Cop on to yourself Kuang. Every single one of them are greedy bloodsuckers.

kuang1

Dicky Pride wrote: »

Cop on to yourself Kuang. Every single one of them are greedy bloodsuckers.

I certainly don't count any of them amongst my friends or acquaintances either dicky.
But logic would dictate that someone in line to get roughly €2, 000 in commission would be pretty unlikely to jeopardise that for an extra €45. (Note I say 'unlikely' not impossible)
Plus i know of somebody who bought a house last year for (let's pretend it was) €100,000. However the property register showed €80,000 because the seller and buyer spoke privately and €20,000 was paid behind the scenes in order to keep property tax down and reduce the estate agents cut. So estate agent was instructed by seller to sell to the bid of €80,000 despite someone else having a bid of €90,000 in. Seller claimed he 'didn't like the look of' the €90,000 bidder in order to keep the ruse going!!!!!
We never hear half the siht that goes on behind the scenes in buying and selling of property, my point is spanks assumption that the estate agents motivation must have been to do with the commission ain't the most probable. Those agents have to do what seller tells them.
And when you hear about 'phantom bids' being talked about, its often the seller that instructs the estate agent to let on.

And easy dicky...I AM NOT defending the liars that are estate agents.

spankmemunkey

kuang1 wrote: »

"We", then "My friend", then "we", then "we"....
"I have this friend who..."
Come on spank, either you're trying to buy a place, or you're trying to buy a place and don't want us to know about it!!! Which is it to be?

And for an estate agent to increase his percentage? The percentage would be fixed!
But if you meant to increase his/her commission then that's usually in the region of 1.5%...so in your example above that's €45! Small amount to be risking a sale over, especially in these times and ESPECIALLY in the Waterford housing market where there's jack siht going on!

Look I'm not joking with you, it is for a friend who I am helping and thats where the I We They etc is coming into it, Im not really bothered about getting perfect english as im trying to write these as quick as I can while children are jumping off the coffee table so forgive my distractions.

I can tell you my friend made an offer of 137,000 cash and it was ok let me run it past the seller, they got back to us a week or two later to say a bid of 140 had come in the bid was increase once already to 137, my friend said no thanks but if the 140 deal falls through let us know. there was no call back and we saw on the property price register that the house had sold for 134 so someone was lying somewhere. I dont know thats how it looks maybe you are right there was no foul play involved and its all explainable.

saintchrisburg

Perhaps there was a 140 deal, it fell through, and somebody dropped the ball and didn't bother contacting your friend to see if he/she was still interested in the property? Or perhaps the 134 deal was more interesting because of certain additional elements in the offer (which wouldn't be listed on the register)?

whippet

i'd say there is a chance that when the buyer eventually got a survey done there was some work identified that needed doing and the buyer and seller agreed a discount on the original agreed price and that was it.

kuang1

Ok spank...only having a laugh to be fair. EAs are a fickle bunch too...definitely something suss about that though.

spankmemunkey

whippet wrote: »

i'd say there is a chance that when the buyer eventually got a survey done there was some work identified that needed doing and the buyer and seller agreed a discount on the original agreed price and that was it.

Yes my friend and i also identified problems with the house and asked for them to be fixed before purchase but that wasnt really interesting them. It was also subject to a surveyors report obviously. The thing is i reckon they knew my friend was a cash buyer and was trying to up the price.