Is the Estate Agent trying to get more money??

[Hayz2020]

I need some advice/stories from more experienced people who are buying/have bought houses.

Currently trying to buy a house with my husband and son, we are renting right now so coming chain free (giving us an advantage, especially in this falling market!) and mortgage and deposit all ready to go.

We’ve found a house we really like, and made an offer last week. The offer is our maximum comfortable offer (anybody else watching the Moving Home With Charlie videos for the BEST advice on the market right now?!).

our offer was around 4% lower than the asking price, which as I mentioned, in a falling market, with things only getting worse for sellers, is a fantastic offer. The EA seemed really happy with the offer but after chatting to the vendors, he came back and gave us a very gentle “no” but it felt like he was pushing us to just put in more cash.

it’s like he’s bluffing us, he’s saying it’s a no, but he’s also trying to keep our offer on the table - he said he’d speak to the vendor and reinforce that our offer was our maximum we could and would pay - he told US the vendor tried everything they could that day to negotiate money off of their new build they’re buying in order to meet our offer but “couldn’t” so need us to increase our offer.

basically - do estate agents try the “chicken” game, when they tell you it’s a no in the hopes you’ll ring back desperately upping your bid.
its his job to get as much money yes, but in this kind of market, surely securing a decent sale is worth more than loosing sales?

any stories where an EA/vendor tried bluffing you to get more money, and ended up taking your original offer?

The market varies in different areas across the country - even different roads in the same areas. Where I live houses in my particular area are holding last years prices. All victorian and there have been 7 marketed over the last two months (mine included) that have gone sstc within a week. I would never have considered a drop like you have suggested unless all those around me came down by the same price. We have the advantage (maybe a disadvantage from a different perspective) of wealthy Londoners relocating here - I had 3 view my house and sold to one who is a cash buyer.

You are speaking from your experience but it is not the same everywhere.

When we bought this place years ago started with a very small reduction in price agent actually told us it was a very good price unfortunately vendor's would not budge as wanted the full price. We decided to offer full price but they had to remove property from the market. Don't think agent is playing games as people said he has to present any offer to vendors.