Do estate agents just spin lies?

[HarryHenderson]

Been house hunting for a while now. Every time I've phoned an estate agent to make a viewing, they say 'oh there's been a lot of interest, they've had a really high offer already'.

This can't be true for every house surely? And when the same house is still up for sale 2 months after I've viewed it, I'm inclined to believe they're talking shite.

I know they're acting in the best interests of the seller, but I find it really off putting. I have no interest in getting into a bidding war. When I view a house after this has been said, I already feel like it's not worth putting in an offer. Is it just me or am I too sensitive to be in the world of property buying? 😂

In a word... yes
Sometimes when they dissuade you from offering is because the offer on the table is from another of their sellers so its preferable for them to sell to that person so they are in charge of more of the chain and obvs multiple lots of sales commission... otherwise there really is no reason to dissuade another person from offering

Most properties would be taken off the market if a high
offer had been received.
Estate agents generally don't have a great reputation. But am not sure whether labelling as "liars" is very helpful. There is an estate agent jargon and I wonder if this phrase means that they don't think you can afford this area/this type of property. If they are incorrect then it's up to you to prove that you have funds/mortgage agreed in principle.
Most buyers in the current market whose house had been on the market for 2 months would open to reasonable offers.

In a word, sometimes.

There are a lot of estate agents out there, and when there’s a large number of anything it is not surprising that there is a cross section of people doing the job.

Some are liars, but by no means all. Some are truthful and helpful, but by no means all.

By saying there is a lot of interest and an offer, they are trying to heighten your level of interest and make you feel like you must rush or else miss out. An approach that works with some, but not with others.

I'm currently selling a house and the estate agent has been close to useless...

but I can say that my house on rightmove looks like it has been on for 4 months unsold ...

basically it sold after 3 weeks so the estate agent cancelled other viewing (without telling me at that time that there were even any further viewings booked) and for the next few weeks told everyone who phoned up about it that it was sold...

but they never changed its status on rightmove to STC.. 3 weeks later my buyer had to drop out as they changed jobs and then couldn't get the mortgage so it's back on the market... my problem now being it's getting very little interest as people who were interested have moved on and it looks like it's been on the market unsold for 4 months when you look at the date it went onto rightmove.

Unfortunately I'm tied into a contract with them until the end of July. I'm counting down the days till I can bin them off and go with a different agent.

I find estate agents a mixed bag.

Having said that, sometimes very high offers are on the table but the buyers aren't proceedable as they are still to sell their own property. Then, they might not get what they had expected and can't stretch to their offer any more. Or chains collapse. All sorts.

If you like a house, just tell the agent what your position is and what you're willing to pay for the property and take it from there.

I recently had an estate agent tell me (in response to me saying a house was overpriced) not to compare this price of this house with the recent sold prices of all the other identical houses on the road because 'other estate agents had sold those and they were underpriced'

You couldn't make it up!

Basically, yes, they'll say anything to get a sale.

I once had an agent tell me we had to exchange the next day or we wouldn't be able to for 3 months (for an empty, chain-free house). Sure enough, when I rang my solicitor, she'd heard no such thing. I always advise checking anything worrying an agent says when your in the sales process with your solicitor - they are the last word on these things, not the agent!

Although I'm no lover of EA's (and my house is currently on the market) & dont think that they lie particularly, I can't say that in all my years of buying & selling I've never come across one that has said that a "high" offer has already gone in.

In any case, don't let what they say put you off. Make an appointment for a viewing & once you've seen the property you can make a judgement. They are supposed to pass om all offers to the vendor, so even if they've had an offer you might find your are a better prospect & will take yours.

Go for it.

• ever come across....not never.

catndogs is being very diplomatic there!

But yes, in my experience. We're in an area where the market is slowing (despite the estate agents' protests to the contrary!) and this seems to be the new tactic: "Hi, I'm just calling to confirm your viewing tomorrow, by the way, the property does already have an offer on the table".

I think it's just like an open day, where they whip up enough simultaneous views (many by nosy neighbours) so that you feel under pressure to buy. Also, it makes the house seem desirable, which automatically makes you want it!

Ime, yes they can lie.
My last one got me an offer v close to asking price, I accepted.
Next day he calls and tells me he got them to up their offer to the full asking price. He had to have lied to them.
Same guy promised them that I could move quickly when I had specifically said we'd have to wait TIL school holidays.

Fortunately, it's possible to tell when an Estate Agent is lying - you can see their lips moving . . .

The problem with some estate agents is that they put unrealistic expectations on the sellers
When the house does not sell they wonder why
Many ramp prices up beyond their worth
Seen this loads in our area
They sit and sit and reduce then reduce then go
It can just be luck of the draw also
Good luck to anybody ... keep googling you can get a lot of good advice 👍

Yes ime,out and out lies.

I think they have to over price to get the property listing. Then they either advise the vendor to accept lower offers or they negotiate with them to lower the advertised asking price.