Annoying estate agent tactics

[PhyllisDietrichson]

The tactics our estate agent is using are beginning to be seriously annoying. Between 5 and 7pm yesterday evening, the agent got us to put in several so-called counter-offers against someone else (did they even exist?) It seemed incredibly urgent to the EA that we continue to do so right up until almost close of play, when they asked for best and final offers which they were going to put forward to the vendors that evening. They even mentioned a 3rd party had become involved so we were in a 'multiple bid situation'.

Mmmmmm. This morning an email arrived saying we've put forward your offer today, (so not last night then) and are waiting to hear! All very casual and the opposite of urgent. So I rang the EA this afternoon and still no word yet.

Can't put my finger on why, but we're feeling a bit 'played' tbh!

I know what you mean! Ficticuous “phantom” buyers! More commission for them and of course more for the vendor. If you are not happy, stick at what you wish to pay. Don’t be pushed and don’t respond to these tactics immediately. Think about it! Don’t over pay but pay a fair amount. How many houses now have three possible buyers? Seems unlikely to me unless it’s a total bargain!

If they are representing the seller, then they aren't "your" agent and they certainly aren't looking out for your interests. They are looking after their own interests only, which may intersect with yours and the sellers in some areas.

Same agent is also selling ours

Fair enough, meaning their interest overlaps with yours a little more as there are two lots of commission in it for them! But still, my point was really that anything is possible for them to try on, when your whole pay depends on the whims of several people and also anything that crops up later, you could almost be forgiven for trying to optimise the information flow in your favour...

johnd2 are you an estate agent?!

I once had this. It later came to light that the EA was trying to bid me up against non-existent offers, which is actually illegal, but EAs know that if they play it right, they can easily swat away any accusations of dishonesty.

FabSophie how did you find out there were no other bidders after all?

Nope I'm far too honest to have that kind of job, also i prefer to be paid a set amount every month.

It was all very complicated, requiring the help of the local newspaper. The EA was forced to escalate their lying to cover up for previous lies, but it eventually became crystal clear. I wouldn't advise trying to find out conclusively - life is just too short! If I was you, I would just refuse to play the EA's game. Put in your best and final offer, then forget about it and keep on looking elsewhere for something you like better.

PS there is always something better and cheaper just waiting for you to come along!