Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Flip

Original poster

can estate agents fake 'buyers'?

13 replies

vannah · 30/04/2009 19:52

we lost our buyer a couple of days ago, she changed her mind after a few weeks of dithering and not really doing anything after putting in an offer..
we had just found the perfect property 2 days ago, so were devastated, asked our agent if we could go multi-agent, to get another buyer asap they refused to allow it according to the contract we signed,

but within 20 mins they had organised another viewing (a couple who had seen our flat before) and the following morning an offer.
DH and I simply cannot believe this because when we asked what they were doing about continuing to market our property they said they had pretty much exhausted their 'list' a few weeks ago.

Is it possible that they can pull in friends to do this kind of thing? It seems absurd, but we dont really believe that an offer could come in less than 12 hours after one is withdrawn...our flat isnt that great!

any clues?
thanks

OP posts:

DLI · 30/04/2009 20:09

if the offer is well under the asking price the estate agent may have a property developer friend who they have tipped off that you want to sell it quickly, therefore, they get a bargain. there is a local estate agent near me who does that, she moved into the area to set up shop, alot of property developers/buy to let landlords have bought properties in the town since!

TheOldestCat · 30/04/2009 20:11

No idea, vannah - but is the offer ok? Are you going to go for it?

Good luck.

Original poster

vannah · 30/04/2009 20:16

the offer is 25k less than asking, whereas the one that fell through a few days ago was only 10 less. So we're losing an extra 15, (and have already lowered the price twice in a year totalling a £60k drop) but we've agreed and are happy with it. Just finding it hard to believe..

OP posts:

StripeyKnickersSpottySocks · 30/04/2009 20:20

When I was househunting the estate agent selling our house asked us to view a total project. We told him under no circumstances would we buy it, wrong area, we didn't want the work, etc. But he begged us to come and view as he wanted our opinions on the house. I wondered afterwards if he was just doing it so he could produce a viewing for the vendor.

Northernlurker · 30/04/2009 20:21

Did you speak to the first buyer direct? Would you have accepted 25 off asking if you hadn't just been disappointed? I'm wondering (nasty mind I have) if your first offer was the false one - she didn't offer but you were told she had and then they let you down and swoop with a lower offer - which you wouldn't have considered without this trauma! Did the first buyer instruct a solicitor, come round for second viewing etc?

MintyyAeroEgg · 30/04/2009 20:26

If you suspect anything raise it with the agent.

Why didn't the couple who have now offered offer before? Perhaps they wanted to but were told your flat was already under offer, at a price beyond their reach?

Are the Estate Agents NAEA? Don't be afraid of them, they are accountable to you, you can ask the branch manager for a detailed explanation of everything that has occured in relation to your sale.

FrankMustard · 30/04/2009 20:26

Having worked in an estate agency years ago (don't all jump on me), I can say that sometimes they use strange tactics (for example the made-up flyers you get through your door saying that Mr and Mrs so-and-so are looking for a property on your road and would you be interested in going on the market) but what probably happened is that they contacted the viewers again to say you were desperate and would take an offr (even if you didn't tell them to say that) and then voila, you have your offer.

Original poster

vannah · 30/04/2009 20:32

hmm. thankyou..
northernlurker, you have a good point but to be honest we probably would have accepted 25 less.
I do think the first buyer was very real, she came to our house 3 times each time with several family members and friends. She genuinely was dithering and unsure - hence the pull out.

frankmustard you could be right...

OP posts:

lalalonglegs · 30/04/2009 20:38

Sorry, I posted on your other thread but you didn't mention the low offer on that one. What I suspect could be happening is that they are finding out how low you will go in order to adjust the price when this "offer" falls through. You're not with Foxtons are you?

Northernlurker · 30/04/2009 20:42

Oh she sounds ok then - phew! I did think I might be being really paranoid - but a friend of ours who was selling a house really did come across something of that sort - property not marketed, no reason for no viewings, agent advised her to drop price, she refused , put it on with a new agent who generated a fist full of offers at the original asking price in less than a fortnight!

Lizzylou · 30/04/2009 20:45

It all depends if they are regulated by the Estate Agents body, which is a voluntary org, they don't have to be
Those Estate Agents that are governed by this code wouldn't be able to do this, no.

Original poster

vannah · 30/04/2009 20:47

kfh..wasnt sure if i was allowed to name & shame here

OP posts:

1dilemma · 01/05/2009 00:17

Frank can't believe you say that it feels like we get one of those flyers a week here!!

If they are claiming to be regulated it's worth checking someone who tried to seel us a house once wasn't registered wiht any of the bodies whose logos were on their stationary!

Flip