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Original poster

That Estate Agents have no real loyalty?

65 replies

chatenoire · 13/10/2023 13:54

I'm trying to sell a property and no matter what, the EA is doing voodoo maths to get me to accept an offer.

I had an initial offer (which I rejected) and counter offered for £10k on top. The buyer isn't moving, so I told the EA that there was no deal.

I've been clear to the EA that it's not that I want the full amount of the counter offer, but that I should see some "good will" from the buyer (so even a gesture of £2k would be enough).

Then the EA came back saying that the slow months are coming and she wouldn't be able to sell it and that her contract would expire.. then I said "maybe then try harder?"

BTW my counter offer is what she valued the house on.

I'm in no rush to sell. It's an inheritance from my uncle, so my mother obviously has an opinion and I don't want to end up fighting with her either.

OP posts:
maisouimaisoui1 · 13/10/2023 14:00

Why do you care about "goodwill" and a "gesture"? It seems odd in the middle of a business transaction after which neither you or the seller will have anything to do with each other even again. You're selling a house, not arranging a medieval marriage. It sounds like you're thinking with your ego a bit, as does saying "try a bit harder" to your estate agent. And loyalty is odd in this context too. Are you expecting her to swear fealty? She's a businesswoman trying to get a business deal done, while you're wanting "gestures" and "goodwill". If you don't want to sell the house, fine. But don't turn it into something that it palpably isn't.

jc12689 · 13/10/2023 14:01

The difference in commission for taking a lower offer is negligible so they will take what they can to get it off their books.

I guess if you're in no hurry and think it's valued fairly then hold off. But bear in my what the EA valued it at doesn't necessarily mean your house is worth that. The market is declining so people are out for a bargain and probably don't expect to pay the asking price. Your house is only worth what people are prepared to pay for it.

Ionapussy · 13/10/2023 14:04

Why would an estate agent offer loyalty? They're job is to sell the house, quicker they sell better it is for them. The difference in commission for £10k will be tiny and not worth the effort. It's also unlikely in that line of work that they'd get much repeat business from you (or anyone else selling/buying) - they're not a coffee shop.

The buyer actually making an offer is the goodwill. They probably can't afford another £2k or if they can don't think it is worth anymore. £2k isn't loose change to everyone.

maisouimaisoui1 · 13/10/2023 14:05

It also depends what the value of the house is. If £2,000 is a significant percentage of the value, hold out. If it's not, it's probably losing £2,000 a month in value at the moment, so you're just wasting everyone's time.

Original poster
chatenoire · 13/10/2023 14:06

What I didn't like was her approach of sending me numbers that once you put them on the spreadsheet they didn't make any sense.

Plus, she started talking about the logistics of the deal, when she never clarified that they never moved on their offer.

At this point I thought they were still thinking about it.

I have daily arguments over the price of this flat with my mother.

I guess my annoyance is that why would she start setting things in motion when in reality there was no movement (or even thinking) from the buyer's end.

If they had said final offer, a lot of stress would have been saved

OP posts:
Riva5784 · 13/10/2023 14:07

Your house is only worth what people are prepared to pay for it.

This is so true. If you are in no hurry, that's fine, but you may not get a higher offer later.

The EA wants to complete a sale. That's her objective. She is giving you her professional opinion about the slow months. You don't have to agree with her, but she has a point about the Xmas period.

Labradoodlie · 13/10/2023 14:10

In the scheme of things I wouldn’t quibble over £2k. I don’t understand why you want a ‘goodwill gesture’ - if they’d originally offered £2k less, would you be happy with the current amount?

If so, accept it as a way to stop the daily arguments!

maisouimaisoui1 · 13/10/2023 14:10

I don't see how an increased offer of £10,000 and possibly £2,000 look any different in a spreadsheet, tbh. If you don't want to sell at that price now fine. But she's telling you things are unlikely to change in the next few months, and given geopolitics at the moment, I'm not convinced there are sunny uplands in January either. But asking for "loyalty" is strange. And fights with your mum aren't really the estate agent's issue.

UtterlyUnimaginativeUsername · 13/10/2023 14:12

If they're not increasing their offer, then it obviously is their final one. I don't really understand your thinking, to be honest. Take it or leave it, but 'goodwill' doesn't come into it.

Allthegoodnamesarechosen · 13/10/2023 14:14

Why do you want ‘goodwill’ from your buyer? They’ve made you an offer, you’ve refused it. Fair enough. Do you want them to give you a bunch of flowers and a box of chocolates and ask nicely if you will sell them your uncle’s house?

I think you are going to cause yourself and DM a lot of unnecessary stress if you fall out with the agent who has found you a buyer ( no mean feat atm) and you want your buyers to look on this as anything other than a commercial transaction.

paintingvenice · 13/10/2023 14:14

If you said to me you wanted more because it was worth it I’d consider it. If you said you wanted more as a gesture I’d thing you were off your trolley.

Original poster
chatenoire · 13/10/2023 14:56

That's what I mean. The EA failed to communicate it was final. She made it sound that there would be room to negotiate

OP posts:
toomanyboxes · 13/10/2023 15:03

She wants to close the deal rather than wait months for you to sell at a price you prefer. They are supposed to act in the best interests of the seller to get the maximum price possible, but she probably just wants to hit targets and get paid her commission.

CoughingMajoress · 13/10/2023 15:13

I'm flat hunting right now and just gobsmacked by how utterly terrible most estate agents are: rude, incompetent, pushy. They either make one phone call and if you don't answer straight away just write you off and don't leave a voicemail or send an email (and of course they won't deal with you unless you're in full-time salaried employment, yet they also expect you to magically be able to answer your personal phone at 11am on a Tuesday), or they call you ten times a day, if you book a viewing they'll call twice to check you're still coming, will send you every property on their books when most of those blatantly don't meet your requirements then phone to nag why you haven't booked a viewing for the lovely three-bed house in Hemel Hempstead they sent when you made clear you were looking for a one-bed flat in south London.

They are just infuriating.

LlynTegid · 13/10/2023 15:24

Estate agents are the best argument I can find against capitalism.

Spendonsend · 13/10/2023 15:33

I'm not sure there is much incentive for an estate agent to negotiate a small increase like that. There incentive is to turn over lots of properties quickly for roughly market value. That 2k to you is like £30 to them for a lot of effort.

Coffeerum · 13/10/2023 15:37

Why would they have loyalty? Essentially you’ve employed them to complete a job. If they don’t think the job is reasonable within the parameters you are trying to set why would they do it?
They don’t think it’s likely to get the price you’re holding out for and they are trying to advise you.

LindorDoubleChoc · 13/10/2023 15:38

The arguments between you and your mother are not your EA's problem!

ErcolSofa · 13/10/2023 15:41

Why did you put it for sale above what they valued it at?

Thebigblueballoon · 13/10/2023 15:42

It’s a business transaction. They aren’t a golden Labrador.
Now that you know the buyers are standing firm on their final offer, decide whether you want to go back to them and accept. If you don’t, I suspect you may regret it a couple of months down the line.

Boundoverbyacat · 13/10/2023 15:44

How bizarre? A good will gesture? Have you ever done a business transaction before. You sound clueless and probably therefore a nightmare client. And ‘try harder’ is just rude. If my clients said that to me they wouldn’t be my clients anymore

thaisweetchill · 13/10/2023 15:45

I work in the housing industry and closely with estate agents, the market is SLOW, there is not a lot of buyers out there so she's trying to sell your house before it gets stale and sits on the market (god forbid she does her job).

If you're not in a rush then that's fine but don't be surprised when you struggle to sell in months to come.

GasPanic · 13/10/2023 15:45

A lot of people will tell you to remember that an EAs loyalty is to the seller (person who employs/contracts the EA).

In fact their primary loyalty is to themselves.

It's worth remembering. It's also worth not blaming them for that.

I am not sure how your description constitutes "voodoo maths", in the respect the maths involved seem like the sort of stuff a 6 year old could do, it's just that you don't like the outcome ?

BristolBlueGlasses · 13/10/2023 15:50

If it were me I'd stop expecting the niceties of a courtly dance and get the deal done and dusted. After all, it's not s though it's a property you've invested money in is it. It's an inheritance....a gift. Every single penny is profit to you and your mum/other benefactors.

You can expect politeness and loyalty or you can bank the money and move on. That's, quite rightly, what the estate agent is doing.

megletthesecond · 13/10/2023 15:54

They're loyal to money.

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