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Raging with Estate Agent!

2»

Comments

  • #52
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    arctictree wrote: »
    Similar happened to us. House advertised at 435.

    We got into a rapid bidding war and went up to 520. EA told us other bidder offered 540. We said we were out.

    Next day, EA rings us back telling us the vendor would like to accept our offer as we had better proof of funds. Told him we will offer the asking price and he refused.

    6 months later the house was sold for 380.

    If I was the vendor, I would be raging. EA cost him 140K.

    Some estate agents are chancers, i bought a house last year and i feel i was bidding against myself. I have dealt with a few and got quotes for selling from a few. Its amazing the paper trail some force (which is good) compared to how loose others are


  • #53
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    rocheyy wrote: »
    Does anyone know what the % estate agents get for selling a house?

    Anywhere from .75% upwards.


  • #54
    Babyboy09
    Registered Users Posts: 38 ✭Babyboy09


    riclad wrote: »
    If someone is interested in buying your house, they,ll contact the estate agent.

    quote="riclad;111386148"
    IF the agent wants to show the house, during the day,
    he should have a key .


    I,m assuming you work during the day,
    a potential buyer might want to view the house at 2 or 3 pm.
    the agent.s job is to deal with enquirys and show possible buyers the house.
    He should inform you if someone wants to view the house .
    Even a cash buyer should be dealing with the agent, if the house is being advertised, for sale, through an estate agent .

    Who are you directing this at? Me? (The OP) The estate agent has a key and is welcome to arrange viewings any time but we do require a days notice as we have small kids. (And aren’t very tidy people....)

    In any case we rang the EA and he said the enquiry came in via daft and didn’t go into his schedule - strange how it was there to be cancelled on the Thursday. He didn’t offer the interested party an alternative viewing date but said he would get back to them - and he hadn’t as of lunchtime anyway.


  • #55
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,295 ✭✭✭Claw Hammer


    Quentin Late Couch wrote: »
    Love how the phrase cash buyer is being thrown around in here as if it makes this person some kind of God

    When you are desperate to sell a house a cash buyer is God!


  • #56
    looksee
    Registered Users, Registered Users 2 Posts: 28,797 ✭✭✭✭looksee


    When I was selling a cash buyer saw off a small bidding war, then another person offered another 5k but I figured I was better taking the cash offer than chancing waiting for the other buyer to sell. No argument really.


  • #57
    holliehobbie
    Registered Users Posts: 409 ✭✭holliehobbie


    Cash is King. And no chains either!


  • #58
    riclad
    Registered Users, Registered Users 2 Posts: 8,184 ✭✭✭riclad


    Most agents charge 1 or 1.5 per cent ,plus vat for selling a house.


  • #59
    1874
    Registered Users, Registered Users 2 Posts: 2,404 ✭✭✭1874


    Fol20 wrote: »
    You will need to be careful if you try and sell direct to a cash buyer. You need to read the contract you signed with the ea while even though they may not view it with the ea, it was advertised through them and you may have to wait a certain amount of time. Again read the contract.

    Id say even being careful isnt an option, if youre in a contract, I was under the impression you paid in the end anyway, I had one and it the agent got paid even if the house didnt sell, seemed a certainty the house would sell and it did and the Agent had what I gathered was a good reputation for turning over sales quickly, but looking back I should have shopped around or questioned the contract.


  • #60
    VmfS
    Registered Users Posts: 3 ✭VmfS


    Some would say I represent the ideal cash buyer, with all cash in the bank and ready to go. Still, not one EA knowing this has been proactive in any way to pair me up with someone that may be actually willing to sell in a fast and orderly manner. Yes, I very well know not to expect ANY service as a buyer form an EA, but I cant help thinking something is very wrong with the system when pure speculation seems to be king, really.


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  • #61
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    VmfS wrote: »
    Some would say I represent the ideal cash buyer, with all cash in the bank and ready to go. Still, not one EA knowing this has been proactive in any way to pair me up with someone that may be actually willing to sell in a fast and orderly manner. Yes, I very well know not to expect ANY service as a buyer form an EA, but I cant help thinking something is very wrong with the system when pure speculation seems to be king, really.

    I don’t see why you are critical of the EA for this, they know a cash sale is quicker and easier, it would be in their interest to put you together with a vendor who wants a quick sale.

    For most people, selling a house is the largest financial transaction of their life, and most want to get the highest price they can for it. Not everyone favours a cash transaction, achieving the highest price is more important even if it takes longer.

    If you are making cash offers and the vendors aren’t accepting them, either they don’t care if the bid is financed or not, or they think your bid is too low. You are only the ideal (cash) buyer, it your offer is acceptable.


  • #62
    v638sg7k1a92bx
    Closed Accounts Posts: 2,913 ✭✭✭v638sg7k1a92bx


    Do you need a agent to sell your second hand car? Apologies if this point has been made several times but I don't understand why people continue to use estate agents when it's a nominal fee to post an ad on daft or myhome.

    There is nothing they can tell a potential buyer about your home that you don't already know and you will get a much better indication of the market by dealing with buyers yourself than whatever nonsense they feed you.


  • #63
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Anton Hissing Destroyer wrote: »
    Do you need a agent to sell your second hand car? Apologies if this point has been made several times but I don't understand why people continue to use estate agents when it's a nominal fee to post an ad on daft or myhome.

    There is nothing they can tell a potential buyer about your home that you don't already know and you will get a much better indication of the market by dealing with buyers yourself than whatever nonsense they feed you.

    A potential buyer will happily tell the agent that they don't want the home as it's falling down and just terrible altogether. They won't say that to the owner.

    Likewise a lot of buyers won't deal directly with home owners, as they are not regulated by any professional body and don't have any PI insurance, if they were to you know go and f**k someone over. :)


  • #64
    VmfS
    Registered Users Posts: 3 ✭VmfS


    Dav010 wrote: »
    I don’t see why you are critical of the EA for this, they know a cash sale is quicker and easier, it would be in their interest to put you together with a vendor who wants a quick sale.

    For most people, selling a house is the largest financial transaction of their life, and most want to get the highest price they can for it. Not everyone favours a cash transaction, achieving the highest price is more important even if it takes longer.

    If you are making cash offers and the vendors aren’t accepting them, either they don’t care if the bid is financed or not, or they think your bid is too low. You are only the ideal (cash) buyer, it your offer is acceptable.
    My comment is meant to be critic of the Real State system in this country more than anything else. The lack of transparency in the process is utterly frustrating. That any bid can go sale agreed without 100% certainty of real funds available. Or that a potential buyer can "estimate" a house needs x amount to be fixed.. only to find out later on he cant afford it and therefore having wasted everybody's time for weeks. Ive been in both sides and I just cant see who benefits from all this.

    I have lived abroad for years where one can only put an offer on a house once its 100% sure you can afford it, AND has made the relevant inspections to avoid any surprises ( liable if he makes offer and then withdraws). After that, the offer would only stand for 48 hs. This way it accelerates the whole process...

    Meanwhile, here I have never bid below asking price. But I guess asking prices are also unreliable. Hence the frustration.


  • #65
    VmfS
    Registered Users Posts: 3 ✭VmfS


    Anton Hissing Destroyer wrote: »
    Do you need a agent to sell your second hand car? Apologies if this point has been made several times but I don't understand why people continue to use estate agents when it's a nominal fee to post an ad on daft or myhome.

    There is nothing they can tell a potential buyer about your home that you don't already know and you will get a much better indication of the market by dealing with buyers yourself than whatever nonsense they feed you.
    Absolutely agree. Its a dying profession for sure. But the Market's mentality is not there yet Im afraid.....


  • #66
    v638sg7k1a92bx
    Closed Accounts Posts: 2,913 ✭✭✭v638sg7k1a92bx


    Quentin Late Couch wrote: »
    A potential buyer will happily tell the agent that they don't want the home as it's falling down and just terrible altogether. They won't say that to the owner.

    Likewise a lot of buyers won't deal directly with home owners, as they are not regulated by any professional body and don't have any PI insurance, if they were to you know go and f**k someone over. :)

    Professional body is a bit of a stretch and only came into force in recent years and consumers are yet to see any benefit from what I can see. Gazumping and gazundering are still widely practised.


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  • #67
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Anton Hissing Destroyer wrote: »
    Professional body is a bit of a stretch and only came into force in recent years and consumers are yet to see any benefit from what I can see. Gazumping and gazundering are still widely practised.

    Bit of a stretch? Can you go out tomorrow and start practicing as an agent ?

    Give us an example there of some gazumping , or was it a friend of a friend down the bar.


  • #68
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    Quentin Late Couch wrote: »
    Bit of a stretch? Can you go out tomorrow and start practicing as an agent ?

    Give us an example there of some gazumping , or was it a friend of a friend down the bar.

    I have been gazumped twice after placing a booking deposit... not recently mind you, it was in the noughties, but there is no rule against it to my knowledge.


  • #69
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    pwurple wrote: »
    I have been gazumped twice after placing a booking deposit... not recently mind you, it was in the noughties, but there is no rule against it to my knowledge.

    believe it or not there is now measures in place to prevent this happening, maybe do a bit more research on that front. It was indeed far more common in the noughties, rightly so agents got names back then for it. :)


  • #70
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    VmfS wrote: »
    Absolutely agree. Its a dying profession for sure. But the Market's mentality is not there yet Im afraid.....

    So tell me, who will do all the mortgage valuations when the profession dies out.

    Or will people just stop buying houses?


  • #71
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Quentin Late Couch wrote: »


    So tell me, who will do all the mortgage valuations when the profession dies out.

    Or will people just stop buying houses?

    Better still, will VmfS hand over his cash deposit to the vendor? That should be interesting.


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  • #72
    v638sg7k1a92bx
    Closed Accounts Posts: 2,913 ✭✭✭v638sg7k1a92bx


    Quentin Late Couch wrote: »
    Bit of a stretch? Can you go out tomorrow and start practicing as an agent ?

    Give us an example there of some gazumping , or was it a friend of a friend down the bar.

    I can go out and buy a lucky dip and get one from there. Seriously, when did this become a "profession" to sell a house? It was a free for all up until a couple of years ago and is actually insulting to real professional qualifications like solicitors, barristers, architects and accountants.

    What exactly is the professional accountability these guys have and what could they be sued for that requires them to have PI insurance. Even within your own "profession" it is accepted that the regulation is extremely light touch. They file a set of accounts with the PSRA and away they go for another year.


  • #73
    STB.
    Registered Users, Registered Users 2 Posts: 5,380 ✭✭✭STB.


    Quentin Late Couch wrote: »

    So tell me, who will do all the mortgage valuations when the profession dies out.

    Or will people just stop buying houses?


    Surveyors.

    If its a cash buyer, then it does not apply.

    Rule of thumb with Estate Agents is once they start talking they are invariably lying. They have nothing to sell that they own themselves.


  • #74
    v638sg7k1a92bx
    Closed Accounts Posts: 2,913 ✭✭✭v638sg7k1a92bx


    Quentin Late Couch wrote: »


    So tell me, who will do all the mortgage valuations when the profession dies out.

    Or will people just stop buying houses?

    Who does valuations on any other good or service? As I said earlier, do we need a valuer to tell us what your second hand car is worth before you put it on done deal?

    The consumer decides what they are willing to pay. Why do we need an EA to tell us what the dogs on the street already know except that they slap on 25%and take 1% of the sales price to hand you a brochure and send around some twenty year old in a flash blue suit and brown shoes on open day.


  • #75
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    STB. wrote: »
    Surveyors.

    If its a cash buyer, then it does not apply.

    Rule of thumb with Estate Agents is once they start talking they are invariably lying. They have nothing to sell that they own themselves.

    I know this is hyperbole, but even so, it’s crap.

    All sellers are happy for EAs to talk up their property, some buyers think EAs lie like you post, of course you are less moralistic when you sell. Ce la vie.


  • #76
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Anton Hissing Destroyer wrote: »
    Who does valuations on any other good or service? As I said earlier, do we need a valuer to tell us what your second hand car is worth before you put it on done deal?

    The consumer decides what they are willing to pay. Why do we need an EA to tell us what the dogs on the street already know except that they slap on 25%and take 1% of the sales price to hand you a brochure and send around some twenty year old in a flash blue suit and brown shoes on open day.

    With a lack of knowledge and outlook like that I won't waste any more time trying to get through to you. Good luck trying to ever buy or sell a house of your own.


  • #77
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    STB. wrote: »
    Surveyors.

    If its a cash buyer, then it does not apply.

    Rule of thumb with Estate Agents is once they start talking they are invariably lying. They have nothing to sell that they own themselves.

    Ah ok, yes I forgot surveyors are also qualified valuers.


  • #78
    Murt10
    Registered Users, Registered Users 2 Posts: 1,198 ✭✭✭Murt10


    Babyboy09 wrote: »
    We have our house on the market the last couple of weeks. We had some viewings a fortnight ago, and according to the estate agent a couple of people were interested, although to date there have been no offers.

    However, one of our friends called us on Friday evening to say that their work colleague (a cash buyer fwiw) is very interested in buying the house and had a viewing scheduled for Friday (news to us but we would have been keen to accommodate this) but that the estate agent called them on Thursday to cancel it - telling them that it didn’t suit the clients (us).


    Hi OP.

    I bought very recently through a local EA. I just happened into his office as it was across the road from my bank, where I had to do some business, and I had to pass it to get back to where I had parked my car.

    Went into the shop. Had a look at his property list. Told him what I wanted and what area. I found one I was interested in and told him I wanted to view. We agreed a suitable time for the following Saturday Morning.

    Prior to going to look at the house, I had a look on DAFT and the house was now listed as an open viewing for 1/2 an hour, at the time I had arranged to view. I arrived and looked at the house. Nobody else showed up.

    After the viewing, I went off and looked at the other houses with open viewings in the area.

    I thought the estate agent I was dealing with acted in a very professional manner. Ended up putting in an offer and buying the house.


  • #79
    Fr_Dougal
    Registered Users, Registered Users 2 Posts: 9,166 ✭✭✭Fr_Dougal


    Quentin Late Couch wrote: »
    believe it or not there is now measures in place to prevent this happening, maybe do a bit more research on that front. It was indeed far more common in the noughties, rightly so agents got names back then for it. :)

    I was gazumped twice in late 2016 when I was buying a house.


  • #80
    Sleeper12
    Registered Users, Registered Users 2 Posts: 17,156 ✭✭✭✭Sleeper12


    Babyboy09 wrote:
    In any case we rang the EA and he said the enquiry came in via daft and didn’t go into his schedule - strange how it was there to be cancelled on the Thursday. He didn’t offer the interested party an alternative viewing date but said he would get back to them - and he hadn’t as of lunchtime anyway.

    Any updates on the "cash buyer"? They must have viewed the property by now if at all interested


  • #81
    STB.
    Registered Users, Registered Users 2 Posts: 5,380 ✭✭✭STB.


    Quentin Late Couch wrote: »
    Ah ok, yes I forgot surveyors are also qualified valuers.


    Why wouldn't they be ?

    You asked the question. Doesn't RICS/SCSI set the red book ?


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  • #82
    v638sg7k1a92bx
    Closed Accounts Posts: 2,913 ✭✭✭v638sg7k1a92bx


    Quentin Late Couch wrote: »
    With a lack of knowledge and outlook like that I won't waste any more time trying to get through to you. Good luck trying to ever buy or sell a house of your own.

    Have done so several times and never used an EA.


  • #83
    Babyboy09
    Registered Users Posts: 38 ✭Babyboy09


    Sleeper12 wrote: »
    Any updates on the "cash buyer"? They must have viewed the property by now if at all interested

    They have viewed it and decided against it. The silver lining is that we currently have two bidders battling it out.


  • #84
    Sleeper12
    Registered Users, Registered Users 2 Posts: 17,156 ✭✭✭✭Sleeper12


    Babyboy09 wrote:
    They have viewed it and decided against it. The silver lining is that we currently have two bidders battling it out.


    Good for you. Fingers crossed you get a great price :)


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