If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Hello All, This is just a friendly reminder to read the Forum Charter where you wish to post before posting in it. :)
Hi all, The AutoSave Draft feature is now disabled across the site. The decision to disable the feature was made via a poll last year. The delay in putting it in place was due to a bug/update issue. This should serve as a reminder to manually save your drafts if you wish to keep them. Thanks, The Boards Team.

Can an estate agent refuse an offer that is "too low"?

  • 26-04-2022 12:17pm
    Registered Users Posts: 72 ✭✭ nf2k

    Asking price for a house is "X'. I make an offer of "X - Y". Estate agent says I must make an offer of "X". Is this allowed?

    Thanks for any insight!

    Post edited by nf2k on



  • Registered Users Posts: 639 ✭✭✭ houseyhouse

    I believe they are obliged to report it to the seller. The seller may have made it clear that they won’t entertain offers below asking though.

  • Registered Users Posts: 72 ✭✭ nf2k

    Post edited by nf2k on

  • Registered Users Posts: 11,973 ✭✭✭✭ Dav010

    What are you hoping to gain? What narrative? The EA is telling you that the seller will not consider your offer and that you are wasting both their time. Sellers generally have a cut off point below which they will not sell and tell the EA not to bother with anyone below that. At a time when supply is low and prices high, they have the benefit of being able to tell you to either up your bid or look elsewhere.

  • Registered Users Posts: 717 ✭✭✭ macvin

    If you put a low ball offer in that is clearly well under the current value of the property, why on earth would the agent waste their and their client's time even reading the offer.

    If a property if on the market for many months, there may be a case for it

  • Advertisement
  • Registered Users Posts: 72 ✭✭ nf2k

    The estate agent isn't even recording my offer on the system. It's 10k under asking, a reasonable starting point.

  • Registered Users Posts: 19,932 ✭✭✭✭ neris

    seller can have told them not to accept anything under the asking price

  • Registered Users Posts: 5,546 ✭✭✭ Allinall

    It absolutely is.

    How do you know the asking price is realistic, even in today's market?

    Estate agent should be passing on all offers to the seller. They can be rejected in two minutes.

  • Registered Users Posts: 2,645 ✭✭✭ ec18

    Vendor probably instructed the EA not to bother reporting offers below the asking. No point recording it when it's essentially in an invalid offer

  • Advertisement
  • Registered Users Posts: 14 Warwick green

    Op you're about 10 years too late, unfortunately the days of offers below asking price being entertained are a distant memory. If you are genuinely interested in the property, 5-10% over the asking is probably a good starting point these days. It may seem counterproductive, but it's a tactic that can short circuit a bidding war early.

  • Registered Users Posts: 9,665 ✭✭✭ Dodge

    Reasonable to who? The seller may have said ‘don’t accept any bids under X’ and that’s all that matters really. They, and their agent, are in charge here and don’t have to accept your offer or your definition of reasonable.

    Even if you offer 10k over the price, they don’t have to accept it. It’s completely at their discretion as to what bids they accept. In the real world it’s likely they would but having your lower bid recorded serves absolutely no purpose so I’m not sure why you’d push them on this

  • Registered Users Posts: 5,546 ✭✭✭ Allinall

    That depends if you think the asking price is reasonable in today's market.

  • Registered Users Posts: 72 ✭✭ nf2k

    That's my query. Is there a legal requirement to report all offers?

  • Registered Users Posts: 9,665 ✭✭✭ Dodge

    No. There’s no requirement at all. Some sellers want to be kept informed of everything. Others don’t.

  • Registered Users Posts: 11,960 ✭✭✭✭ Dial Hard

    It doesn't matter what you think is reasonable, all that matters is what the seller is willing to entertain.

  • Registered Users Posts: 94 ✭✭ LunaLoo

    In current market anything under asking isn't going to be entertained. Estate agents favourite game is to put asking price way under what they know it will sell for to get people interested. If you want to be taken serious as a bidder understand the market and bid accordingly.

  • Registered Users Posts: 2,645 ✭✭✭ ec18

    What difference does it make to you? if the seller has told the estate agent not to accept any offers below asking or X, what difference will having it formally recorded have?

    trying to force them to record your ( invalid ) bid is just going to ignore them and potentially sour you being considered a serious bidder on this property or another on the agents books

  • Registered Users Posts: 72 ✭✭ nf2k

    This is what I wanted to know. Thanks all for the replies.

  • Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 44,471 CMod ✭✭✭✭ magicbastarder

    The phrase 'asking price' is comically inaccurate these days. If you offered the price they were asking, they still wouldn't say yes...

  • Advertisement
  • Registered Users Posts: 3,056 ✭✭✭ Browney7

    And other agents put up properties with an "asking price" of what they hope to get which may be very aspirational and would consider sums below the "asking". Different tactics by agent. If you're watching a market you can usually suss which agents price keenly to trigger bidding wars and which agents price high.

    OP should make their offer and ask to be kept updated of any further offers and keep looking elsewhere and not get het up on the legalese of agents forwarding offers.

  • Registered Users Posts: 74,979 ✭✭✭✭ Atlantic Dawn

    Send a letter to the owner of the home telling them about your offer.

  • Registered Users Posts: 666 ✭✭✭ CreadanLady

    It is a private sale of a piece of private property. They can essentially do whatever they want. They don't owe you anything, they don't have to be transparent, nor have to explain themselves to you. They don't even have to pick up the phone to you if they don't feel like it.

    If it was a public tender for a public service or a piece of property owned by a public body, it would be very different.

    The MFV Creadan Lady is a mussel dredger from Dunmore East.

  • Registered Users Posts: 11,973 ✭✭✭✭ Dav010

    That is interesting, never seen an EA price a property higher in the hope of achieving it. Seems counter productive as price rises are usually driven by having as many bidders as possible rather than hoping for one bid at asking. But hey ho, maybe they do things differently near you.

  • Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 44,471 CMod ✭✭✭✭ magicbastarder

    It is a private sale of a piece of private property. They can essentially do whatever they want.

    True, but it also wouldn't hurt for the EA to say 'thank you for your bid, we will register it but the seller wants more'.

  • Administrators Posts: 51,042 Admin ✭✭✭✭✭ awec

    What's the point though? There's a 0% chance the bid will be accepted, surely it's better to be up front and clear with the bidder so they can either bid higher or move on to another house if they don't feel this one is worth it.

  • Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 44,471 CMod ✭✭✭✭ magicbastarder

    It's essentially the same thing though. Saying 'we will register it but the seller wants more' is essentially meaningless but just being polite.

  • Posts: 8,856 ✭✭✭ Ryan Crooked Stack

    Unless the asking price is outlandish even in current market conditions, then there’s probably no point- what do you expect will happen? Even as we speak, the seller is likely getting offers at or above their asking price- your under bidding offer will be long forgotten- provide an asking price offer and you’ll be kept abreast on progress of bidding - otherwise you’ll be considered a tyre kicker - if the seller says “ in excess of” then they’re not interested in bids under asking price

  • Registered Users Posts: 3,056 ✭✭✭ Browney7

    It's possibly a function of the market where I am - lots of identical apartments and houses with plenty turnover so the market price is readily obtainable off the PPR. I expect the psychology is that both parties know the "market value" and the seller is trying to cajole a few more quid out of the buyer (ie shame them into going say 95% of the "asking" which may be 5% more than recent sales). I've noticed that the agent who's first name rhymes with a fruit tend to have higher askings than the smaller or local agents around me anyway.

    Or else some agent's business model is tell the vendor a large market value to get the listing in the first place. I'd expect at the lower end of the market, agents price the properties keen to capitalise on market FOMO of buyers in that market segment.

  • Advertisement
  • Registered Users Posts: 671 ✭✭✭ Fred Cryton

    You are assuming the "asking" is some correct is literally made up based on what the EA and the seller think they can get away with.

    Offer whatever the property is actually worth, which may be substantially less than the asking price.