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Can you ever trust an estate agent?

(47 Posts)
Cassie258 Wed 06-May-15 14:36:05

So, I've just had a visit from a 'chain' estate agent who sold our neighbours house in three days. He said he has people who put an offer in on that property and missed out. He called his office, who then called one of the people, they apparently put in an offer. I said that I wouldn't feel comfortable getting an offer until the person had seen it. They called the office again and arranged a viewing tonight.

Did I just get played by him? Was it like when you get your friend to call about an emergency whilst on a date?

mandy214 Wed 06-May-15 14:41:21

Wouldn't trust an estate agent as far as I could throw him. There may well be a viewing arranged before this evening but I'd take the "spiel" with a pinch of salt. They are unregulated and due to the house buying process in this country, they have a million and one opportunities to "stretch the truth" shall we say to their own advantage with limited likelihood of anyone ever finding out.

WellTidy Wed 06-May-15 14:42:41

I have never felt that an estate agent was acting for me, whetehr I have been buying, selling, or renting.

Mintyy Wed 06-May-15 14:44:21

Well, you'll find out at the viewing won't you?

I can't see what you think the problem is?

Cassie258 Wed 06-May-15 14:47:44

Mintyy, I'm just terrified of the whole process. You hear such bad things and I've never had a good experience with agents before so I'm doubtful now. I've never sold before tho. Only rented and bought once.

You are right tho. I'll find out at viewing!

GaryBaldy Wed 06-May-15 14:49:55

I work for a good one, but agree the industry deserves it's reputation.

mandy214 they are regulated by one of two Ombudsman who are increasingly showing their teeth and usually find in favour of the complainant.

Just remember you have a 14 day cooling off period with an EA contract...

Mintyy Wed 06-May-15 14:53:26

I think the untrustworthiness of estate agents is grossly exaggerated and people love to hate them. It is a far more complicated profession than those who have not done it could ever understand.

EA mantra is "buyers are liars and vendors are greedy". There is a grain of truth in all that you know.

Have you signed a contract with the agent yet and did you do so on the strength of getting this one viewing tonight?

If I were you I would be negotiating hard for a very reduced fee if this person buys it ... what do they normally charge, and what will be your asking price?

Cassie258 Wed 06-May-15 15:46:24

I agree with that mantra. It's a good one.

Well I always thought EAs charges around 1 per cent but this guy wants 2500 plus vat (he's generously giving me a deal and said 2k tho. (House is only 115k valued 110ish hoped for sale price.

Nothing signed as of yet! Not asked for anything to be signed just that we hold off meeting Jackson Grundy.

Cassie258 Wed 06-May-15 15:48:43

Northampton based if helps...

mandy214 Wed 06-May-15 16:38:33

Minty I don't think its complicated in any shape or form, and its certainly not a profession hmm.

Not in my experience Gary its all very secretive and there is no proper regulation. Yes you can complain to the Ombudsman (and I have), and I got the result that I wanted, but I wouldn't say by any stretch of the imagination that the Ombudsman is showing its teeth. It was a slog when under any other circumstances, if you complain about such poor service, it would be resolved pretty much on the spot.

Don't get me wrong, I am sure there must be some decent estate agents but I am yet to meet one

mandy214 Wed 06-May-15 16:40:29

Cassie find another agent. Get other quotes and do some checking online - houses in your area which have sold and then you can usually find which agent sold them if you use the usual houseprice / house sale websites.

Mintyy Wed 06-May-15 16:42:37

Alright then, it is a far more complicated JOB than people who have never done it would understand.

Why do you think it is so simple mandy214?

lalalonglegs Wed 06-May-15 17:07:58

If it's done well, I agree with Minty, it's a job that takes a lot of handling of people and good organisation.

OP - don't be swayed by this estate agency. If there are buyers really keen to buy on your road then they will be watching out for them on Rightmove/registered with several local agencies etc. All agencies tell you that they have people who just missed out locally and are desperate for another house to come up - it could be true but it doesn't mean that they would only buy from that agency.

pilates Wed 06-May-15 17:18:26

Cassie, please don't commit to this agent. Get at least two more agents round for comparable valuations. Better still, why not use an internet company, is it purple bricks, something like that? In answer to your question, no you cannot trust Estate Agents.

mandy214 Wed 06-May-15 17:19:08

Mintyy because I think an EA is just a go between. Of course there is an element of people management (as there is in most jobs) but what exactly is complicated? I'm not being argumentative, I genuinely don't know what element of an EA's job requires any particular skill that me as someone who is relatively internet savvy with property sites etc, can't do for myself. They don't value properties, they don't give professional advice, there is no qualification that you need to do the job. Yes you need people skills and to be organised but that doesn't make it complicated??

bridgetjonesmassivepants Wed 06-May-15 19:28:41

I have known two. One told me, after I said that I didn't like a house, everything that was wrong with it and that he agreed with me. Another told me that the house I was looking at was too small and not to buy a house I didn't love. Really liked that Estate Agent and she'll be asked to sell my house if we ever move.

Kieron79 Wed 06-May-15 19:34:30

In my (albeit) limited experience I can honestly say everyone is a tw@t

StampysLoveGarden Wed 06-May-15 19:39:23

Have dealt with three and they've all employed their little tricks, to get you to make an offer (ie, oh I must take this call while i'm showing you round the house, and what do you know, it's another offer on the house). And then, at the point jus tbefore completion I was put under pressure to just sign and ignore /let go the issues that the solicitor wanted documentation or clarification on. I was made feel that the vendor would face ruin if I didn't go ahead and ignore what the solicitor was telling me to get.

StampysLoveGarden Wed 06-May-15 19:44:09

Cassie, what is your fear, that allowing this one viewer to come around tonight ties you in to the agent?

jellyandsoup Wed 06-May-15 19:44:53

Ours were absolutely fantastic. I would trust them, but most of the others we met were so slimy, so much bullshit

SpanishMoss Wed 06-May-15 19:45:18

I'm not sure that you're being played Cassie. I drove by our house,and knew that I wanted it,interior unseen.

Cassie258 Wed 06-May-15 19:54:14

Ok... The reason I didn't reply is because we've had an offer (and I briefly saw the guy at the house so know he isn't a figment of the EAs imagination) of the absolute max we expected. He was there for ten mins max. He offered 112. We have accepted. It all feels a bit quick and easy. Waiting for the ground to fall...

I think it's a 'real' job. Kind of like networking etc.

LynetteScavo Wed 06-May-15 19:59:19

I second what Mintyy said.

mandy214, so don't every use an EA agent then, if that's your view. Funnily enough, most people do need to use an agent to sell their house, value it correctly, market it appropriately and negotiate effectively.

And yes, there are people who would snap up a property on a particular road. An offer isn't signing on a dotted line...they still may pull out after a survey...

DressedUpJustLikeEdie Wed 06-May-15 20:02:57

Was your house already on the market or did he approach you directly saying he had interested buyers?

Who valued your house, and how many valuations did you get?

LynetteScavo Wed 06-May-15 20:03:50

So you have been found a buyer....quickly. smile

I disagree with Mintyy about the reduced fees.....the EA seems to have done a good job. You've got what you wanted. If they'd marketed the house for 2 years, should you pay higher fees?

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