Estate Agents - playing games?

[Pud2]

I feel like I’m being strung along. I’ve made an offer on a property that’s been on the market for 6 months. I was told they couldn’t confirm if the offer would be accepted until Monday as there are two more viewings. I find this slightly odd as the property has been on the market for quite a long time. Were there really three viewings suddenly on the same day? Why couldn’t they put my offer forward even if there were more viewings?

@AnalyticalChick
Given there is essentially no financial benefit whatsoever to the EA (either individually or to the company), and can run a high risk of losing a genuine buyer, and therefore completely scupper a sale, what reason are you putting forward for EAs magically creating other "buyers"?

I'm genuinely interested, as I see no discernible benefit, I've never done it, and none of the dozens and dozens of people I've worked with over the years has ever done it.

I'm not saying it never ever happens, but I would suggest that it is a pretty rare occurrence.

@Mildura we've viewed houses, given the feedback that we don't like if then an agent has called us back months later saying it's under offer..

I was like nice one crack on 🤷‍♀️

... even if I did like it I'm not getting into a bidding war and I lost a bit of respect for that company as one they hadn't listened to my feedback and two were trying to sweep a house from under someone who clearly loved it enough to bid.

Like I say maybe I'm over emotional about it but it's not how I'd like to do business

Mildura I think it is more common than you would like to imagine. Some (how many?) EAs just cannot resist the temptation of trying to milk a situation for every penny it could be worth, and they just cannot restrain themselves. Some people are just plain greedy, and also enjoy the thrill of the game - even if , or perhaps because, it pushes the boundaries of honesty.

@Lilmisskittykat
Conversely, we recently had a property we were dealing with that had been on the market about 3 - 4 months, and an offer was put forward that the owner accepted. Someone who viewed the property during the first month of marketing then called up extremely irate that they had not been told it was about to go under offer (they had never offered previously on this house, nor expressed any particular signs they were especially interested) and then proceeded to put forward a higher offer.

Cue several days of faffing about, the original person who offered becoming upset, all of which could have been avoided if my colleague had called and notified the previous viewers.

Just shows that people can view these things differently. You really can't please everyone, and almost whatever you do someone will take offence/be disappointed/lose respect.

Mildura - That's why I struggle to believe estate agents all across the country are busily inventing offers left right and centre to increase their commission by £10, at the risk of losing all commission completely.

It makes no sense.

That is precisely what happened to us, as per my post above,, and it didn't sell for another 4-5 months at well below asking. We'd bee prepared to offer close to asking but were immediately put off by these supposed multiple viewers and offerors who vanished within less than 48 hours. We were very tempted to tell the vendor, but just walked away. They were left upwards of £30,000 out of pocket, waited nearly 6 months longer and their daughter didn't get her school place as a result.

I think it is more common than you would like to imagine.
Maybe it is more prevalent in certain areas of the country then, as I maintain my belief that it is not a practice conducted by many of the estate agents in the area where I work.

With all due respect, it's likely I have more experience in this area than you do.

it's likely I have more experience in this area than you do

More experience, yes; but given that you are an EA, far more bias towards EAs, too. You are hardly an impartial observer!

I'm not saying it's totally unheard of. Just that it is less common than some seem to be suggesting.

Mildura - Well those two instances certainly happened to me, as I said, in each case the EA wasn't interested in dragging me into any kind of bidding war and upping my offer, instead they were quite happy to just go with these other offers that suddenly materialised.

I also remember many years ago my parents were interested in a house that was for sale... 3 times they contacted the EA only to be told it's under offer, then my dad actually stopped and spoke to the vendor when he spotted him in the front garden, the vendor told him they'd not even had any viewings never mind offers.