UKC

Good morning Everyone,

We've had an offer accepted on a house, that estate agent was then excitedly trying to get us to sell our house through him, stating he can do it cheaper as we'll buy though him and he has buyers wanting to buy in the area. We were going to use a different agent and were not far off going ahead with it, but this guy said he could get someone in next day and if they liked it and made an offer we could sign up with them. Fine we thought, we'll give him a go, so someone comes and looks around and the day after they put an offer in, which we accept as it was good and we'd like to get going quickly.

At first I was all excited, now I'm thinking, once we sign the agent's contract will the buyer disappear having been made up just to get us on their books. It's all happened very conveniently which is quietly ringing alarm bells. I don't really mind who sells our house but I'd rather it not be a lying scum bag. Apparently the buyers are sorting their mortgage this Saturday so I'm thinking to hold off the agent until after the weekend and ask to see an offer in writing before I sign up to him.

To add fuel to the fire, our mortgage broker phoned the agent yesterday to introduce himself and the (different) guy he spoke to wasn't aware of the offer. Could be left hand not talking to the right.

Any ideas how I might expose the truth? I thought about calling up as an interested neighbour who heard we were selling to try and get some info.

I don't overly trust estate agents

Thanks!

In reply to richyfenn:

Life's to short to get into "what if's".

It's not to short to make it clear, up front, to the EA that you are not going to put the house on the market with them in any wider sense than this one specific customer.

In reply to richyfenn:

It doesn't sound unusual to be honest. Individual agents will very likely have clients that are looking for property in an area. They will get commission on the house that they sell to you (from the vendor) so if they can also get commission from you for selling your current house, they're quids in! Don't be surprised that one negotiator is not aware of a deal that has been discussed verbally by another - they're on individual commission from their employer too, so keep cards close to their chests! (this shouldn't happen, but it does).
The agent works for the seller, not the buyer, so sort out your sales deal - the ball is in your court.
N

Last time I moved we deliberately bought and sold through the same agent, on the basis that this provided extra incentive to the agent for the move to proceed promptly and smoothly.

In reply to all:

Cool, thanks everyone, I'll try not to worry about it. I had a niggling worry as it all seems to be going too smoothly (so far), maybe I've heard too many horror stories

In reply to richyfenn:

Estate Agent - Is he Lying?

the answer to this question is Yes 98% of the time

In reply to richyfenn:

We had an offer accepted on ours, but nowhere to go, but our estate agent (not a sleazebag at all, actually very good and likeable), knew they had a house that might be coming to market that they were pretty sure we'd love. They persuaded the vendors to go with them as they'd get a quick sale and they knew our sale could go ahead unimpeded - everyone's a winner.

We all lived happily ever after.

In reply to richyfenn:

You have no agreement with the EA? Excellent you don't have to pay commission then. Why would you sign up when you already have a buyer?

And yes they are undoubtedly lieing, that's what they do for a living. If you must sign, add a clause saying your contract ends if this sale doesn't go through.

In reply to balmybaldwin:



That's a very sweeping statement.

What's your source to prove this 98% you quote?

(I was a Chartered Surveyor with an Estate Agency once, and I never lied)

To the OP I would do a deal with the EA so far as this one buyer they have lined up is concerned on the basis that they do the deal for a reduced commission, after all they are getting two lots of commission here, they haven't had to advertise or do much. Agree it on the basis of just this one buyer, if that falls through reserve the right to go to another agent as you had originally intended with their not being entitled to any commission if it goes to another buyer. To keep the record straight, if this sale falls through you must tell the new agent the name of the abortive buyer on the basis that if they come back on the scene the original introducing agent still gets commission and not the new one in this eventuality only.

House buyers/sellers often accuse EA's of being dishonest, but they should act honourably too in their dealings with EA's

In reply to Trangia:

haha estate agents lie through their teeth. in my personal experience 100% (yes, every single one I've ever dealt with) has been a lier.

In reply to tom84:

But not a lyre?

In reply to richyfenn:

When I rule the world, wasps and estate agents will be exterminated as they don't fulfil any useful purpose except to irritate people.

In reply to tom84:

Then why didn't you report them to their professional body instead of coming on here making unsubstantiated allegations?

OK not all EA's belong to professional bodies, but most do. The NAEA and RICS take such allegations very seriously, and disciplinary action can be harsh including their being struck off.

In reply to richyfenn:

When we sold a house (in Scotland) we were told by the estate agent that the "Home Report" (still mandatory in Scotland) was accepted by all the major mortgage lenders..

Absolute bollocks!!!!!

In reply to richyfenn:

So this other chap has found you a buyer. There is therefore no need for you to sign a contract that ties you in for 3 months. So if this buyer is genuine I am sure the agent would be happy to sign a contract that pays him if he finds you a buyer who completes. Everyone wins... unless he is lying. Call his bluff and if he is genuine nothing is lost. If he is lying you get to walk away without having signed your life away.

In reply to richyfenn:

Problem with estate agents, they appear to be lying even when they are not. Just don't sign anything until the offer has firmed up a bit. You have a verbal contract with the agent regarding the protential buyer they found, so the agent is protected, but if the agent is up to no good, you can walk away.

In reply to Trangia:


You would say that wouldn't you!