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Join our Property forum for renovation, DIY, and house selling advice.

Property/DIY

Estate agent wants to 'paint a picture' of us to the vendors - what should we say?!

37 replies

ThePartyArtist · 03/03/2016 12:24

We're first time cash buyers and just put in an offer on a house. It's the first time we've done this. The estate agent told my DH on the phone he thought it'd be rejected (apparently it's lower than another one that's been rejected) and asked for info to paint a picture of us to the vendors. Now I'm wondering how we play our cards right with this one! The estate agent asked if I work at X (I've never told him this - he's clearly googled me) and my DH confirmed this and also said where he works. The estate agent asked if we're looking to buy into the area for schools (it's a very desireable area in this way) and DH just said we're looking to buy a house, which hopefully implies to the estate agent we are not property developers, but doesn't give much else away.

I've no idea the best strategy when 'painting a picture' of us to the vendors. If we say school catchment is a motivation I think he'll use this to try to push us up. We've asked the estate agent about school catchment relating to other properties we viewed so if he remembers he'll know this is a motivation. I'm inclined to think we can't second guess the vendors' values so giving too much personal info away could just be used against us. Or maybe as they're a family we should be playing that card. I'm just not sure!

We've told estate agent we are cash buyers, first time, and offer complete flexibility whether the vendors want a quick move or to bide their time till they find somewhere to go. Any other tips for getting them / the estate agent on side?

OP posts:

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Whathaveilost · 03/03/2016 18:43

penny but some very nice people may move in, hate it and move out in less than a year!
Memories are in your head and heart?

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ThePartyArtist · 03/03/2016 18:49

Thanks all.
@Bearbehind - sorry if you are unhappy I have posted more than once about the house search... we are doing all this for the first time, and it's on my mind so these message boards seemed like a reasonable place to turn to.

OP posts:

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Bearbehind · 03/03/2016 19:02

It's not that you've posted more than once- it's the fact you keep saying that things are going to make the EA think you can pay more for the house; it's such a bizarre viewpoint. The house will have been priced based on the catchment area etc already, it won't be expected that you'd suddenly pay way over the odds for this.

I agree you don't want to go overboard about it but you can't play it totally cool if you actually want to buy somewhere.

I have a mental image of your conversations with the EA-

EA- so, how did the viewing go, did you like it?
OP- Maybe
EA- well, what attracts you to this particular house/ area- is it the schools?
OP- no comment (even though we don't have children)
EA- ok, are you thinking of making an offer?
OP- possibly
EA- what is your position? Do you have somewhere to sell? Do you need a mortgage?
OP- that's for me to know

House buying is a bit of a game but there's no need to play your cards this close to your chest.

Apart from anything else, there's been 4 offers in a week; you don't even have the upper hand with negotiations with the vendor; you're not the only people interested.

You need to be clearer with what you want and can offer before someone else beats you to it.

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BeaufortBelle · 03/03/2016 19:57

All I'm interested in when I sell a house is that the people who offer are who they say they are and have the money to pay. As the agent takes a large cut I expect them to have done decent due diligence and to be able to give me a fairly accurate assessment.

A house is worth what someone is willing to pay for it. It is up to the vendors whether they wish to sell it for that price. Purchasers often forget that vendors don't have to sell to them and if they get too difficult or do disingenuous things over price the vendors might decide not to sell to them. DH and I did that last time after a big reduction "oh well, presumably they don't really want it, put it back on the market at the full asking price please. If they want it they can bid again.". Oh how they came running back - soured the deal though.

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Koala2 · 03/03/2016 20:23

OP I would just play your cards and then move on if you don't get it. The EA is being a bit weird asking for this info but it's free to provide - if you really want the house get your story straight, up your offer and then look elsewhere if it's rejected. I hope you find something suitable soon.

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DustOffYourHighestHopes · 03/03/2016 20:26

Agree - it's not complicated. Don't over-share, but just say 'we're a young [professional] couple looking for our first home, we love the property, we are cash buyers and are flexible on moving dates.

They won't want to sell to someone who seems 'meh' about the property because then the buyers might find somewhere better and pull out before exchange.

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OrangeNoodle · 03/03/2016 20:31

If you offer the right price, the vendors won't care who you are (within reason).

It sounds like a competitive market for the type of house / this street / local area.

Having sold a few houses in the past, I'd be wanting AT LEAST the minimum price specified in these circumstances. You are cash buyers, you want the house, others clearly do too. Ask the agent to be very honest with you about the price they want to secure the offer and get it off the market.

Job done.

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tittysprinkles · 04/03/2016 06:38

We just bought recently and had to do offers over the asking price as we were buying in a very popular area for schools.

Our vendors had 2 daughters like us, so we put in the offer email that we loved the house and that we thought it would be the perfect place to bring up our children. The vendor did actually see our baby on the day we viewed and could see how enthusiastic we were about it.

We were obviously in a strong position as FTB but I do think the personal aspect helped us to get the house, and we are subsequently aware of other people who made similar offers that weren't accepted.

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WhoTheFuckIsSimon · 04/03/2016 06:51

If it's only been on the market a week you need to offer the price of the offers over x".

They've had three offers in a week and if you're not quick there may be a bidding war.

Doesn't matter that it's the most expensive in the street. Those are historic prices and most areas prices are still rising.

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Luckystar1 · 04/03/2016 07:00

For some sellers, this 'story' is very important. A house that had been a beloved family home is difficult to sell and often it's not solely about figures.

Tell the story, I don't see the problem really. We lost out on a house having offered the same as the eventual purchasers as my DH was being very nonchalant like you and the other buyers had a lovely story (about school catchment as it happens!)

We definitely hammed it up for other houses I can tell you!!

The first ever offer we had accepted was on a house that was a probate sale. We met the son of the owner and were nice to him, he picked us over a developer who offered more.

People buy people.

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Puppymouse · 04/03/2016 08:59

If it helps we've just had our offer accepted on a new house. It wasn't a cheeky low offer but it did come with the proviso that nobody else could view (we were only ones to see it before it came on market) and it wouldn't go on Rightmove or be marketed. The vendors took a risk.

My husband laughed at me because I was emotional looking round and didn't try to hide it. He seemed to think we should be playing it cool. But when we heard back from the agent my reaction to the house, the fact that I had a major hobby in common with the owner (and the fact we had sold to a first time buyer) were mentioned and all added up for a quick yes to our offer with its demands.

I think if you get lots of offers on a house you sometimes just want to find a connection with a buyer, so it helps you decide which offer to accept, come to terms with them buying your house, and maybe increase your trust they will see the process through?

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Moonatic · 04/03/2016 14:26

The EA is really not interested in getting the best price. Really, an xtra few grand on the selling price makes next to no difference to the EA. They just want to make the sale.

The buyers probably just want to know that you are indeed in the position you say you are (cash buyer etc) and that you are keen to proceed and t you aren't going to suddenly pull out of the sale because you are not too sure about the house after all.

With that in mind, reiterate your enviable position and say that you are very keen to proceed (assuming you are). If you are able and willing to fit in with the vendor's plans (e.g. quick sale because they have already found somewhere or willing to wait whilst they find a place to move to), say so.

The vendors may also like to be reassured that you plan to live in the house and start a family (as they did) rather than develop it for a profit and move on.