Can an estate agent advice their vendor not to accept an offer based on this.

[Cheeseycheeseycheesecheese]

Hi,

I'm selling my house, found the perfect one to buy, offered. The sellers agents contact my agents to confirm chain, etc. Call me to tell me the vendor is unlikely to accept my offer due to my buyer being an investor, I ask why and they explain that "as my agent should have advised me" investors are more likely to pull out than other buyers due to the market at the moment. The conversion felt very much to me (and dh who was in the car with me and was involved in the conversation) that they were trying to put us and the vendor off from doing business as such, but also turning us off our buyer.

I (luckily due to the time) spoke to my agent and my mortgage advisor, they've both said my buyer is irrelevant to the seller and what the vendors agent has said is rubbish because anyone can pull out at anytime.

Can anyone tell me, is the agent allowed to advise against my offer simply because my buyer is an investor.

The estate agent works for the vendor so they can advise their client however they think fit, so if they believe that investors are more unlikely to see a purchase through then that's what they'd say. In a 'usual' market time I'd agree that your buyer isn't of much interest but at the moment, if people have multiple offers to decide between, then the prosperity of your chain may be of interest.

You could always put forward a supporting statement with your offer to explain why you're in a strong position?

An agent is free to advise how they wish, so long as their advice can be seen to be in the best interest of their client.

That's crazy... an "investor" is also more likely to be a cash buyer and therefore likely to be able to proceed quicker.

What would they prefer? Your buyer to be involved with a chain of people below them too? Or are you only allowed to sell your property to first time buyers who, I think, are more inclined to be flakey!

Yes they can advise their clients however they would like, but I would hope that common sense would prevail...

I thought they were also duty bound to give each and every offer to the vendor in the best possible light.

I understand they are working for the vendor, but the conversations I have almost feel like they have no interest in selling this property.

Our offer has been rejected on the basis of who is buying our house. (And the agent said, the vendor has rejected on their advice) I have said we are sticking with our buyer and the offer stands, but we'll carry on looking.

But I've had no written communication reflecting that the vendor has had our offer or that they have rejected it, only the conversations with the agent. Whereas all of the offers I've had for my house, I've been emailed a copy of the letter sent to the potential buyers within the hour of a conversation with my agent.

I've asked them to send me the proof of the offers being put to the vendor. But I guess its a case of sit back and see what happens.

I would be inclined to post a letter through the vendors door regarding your offer and position to ensure they know about it.

My agent suggested popping over, but the house is vacant, we'd be the only link in this sale as our buyer is chain free as is this seller. I'm tempted to follow that advice and drop a note, but concerned the agent will be the one to pick it up.

>> I thought they were also duty bound to give each and every offer to the vendor in the best possible light.

There is a legal responsibility to inform the client of any and all offers unless the client has blanket refused to be notified of any offers which do not meet their requirements, such as 'I'm not interested in offers below 250k.'

As for presenting it in the best light, I've never heard of that. They are free to provide their professional advice on any offer which would certainly include being cautious of a particular type of buyer, how they were financing the purchase, any history of this buyer they know about, or indeed any pertinent information about any part of their chain. In fact, any information which they deem to be relevant to their client's interests (except (I think!) obvious things like race, gender, sexual orientation etc.)

They are obliged to put every offer forward but they don’t have to present every offer in the best possible light. They are allowed to give their opinion in fact the vendor might value being given their opinion on which offers are most likely to proceed to completion. Of course the vendor can also use their own judgment

Perhaps the vendor has a strong moral stance on developers buying up family homes and doesn't want to help enable that? And the agent agrees? Can't think of any other reason!

As for presenting it in the best light, I've never heard of that. They are free to provide their professional advice on any offer which would certainly include being cautious of a particular type of buyer, how they were financing the purchase, any history of this buyer they know about, or indeed any pertinent information about any part of their chain. In fact, any information which they deem to be relevant to their client's interests (except (I think!) obvious things like race, gender, sexual orientation etc.)

Agree with this. EA will pass on any info they think is important to the buyer in making their decision. We viewed a property once where the vendors EA said the vender wouldn't accept an offer from anyone who was selling their own house using an online EA. This was due to a previous bad experience apparently. Ultimately the vendor can sell to who they like - they don't like your buyer, they don't like your buyer.