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Original poster

Agent’s view of your offer

25 replies

Welliouta · 13/08/2023 07:40

So I need a bit of a reality check after the agent making us feel that we are in the wrong. We gave an offer to the vendor’s agent of £590,000 on a house of £625,000 that had been on the market since March (reduced from 650 in June). The agent, without speaking to the vendor told me she thought 590 was too low and they prob would not accept it. I said we thought it was a good offer in the current market and asked her to put it to the vendor. We haven’t heard back yet. So now we’re thinking - was the agent right? We thought this was quite a decent offer! Bit of context, it’s in an area that is quite slow moving and this property is at the higher end of houses in the area.

OP posts:
MarieG10 · 13/08/2023 07:48

Welliouta · 13/08/2023 07:40

So I need a bit of a reality check after the agent making us feel that we are in the wrong. We gave an offer to the vendor’s agent of £590,000 on a house of £625,000 that had been on the market since March (reduced from 650 in June). The agent, without speaking to the vendor told me she thought 590 was too low and they prob would not accept it. I said we thought it was a good offer in the current market and asked her to put it to the vendor. We haven’t heard back yet. So now we’re thinking - was the agent right? We thought this was quite a decent offer! Bit of context, it’s in an area that is quite slow moving and this property is at the higher end of houses in the area.

Doesn't seem unreasonable but some agents do not progress offers as quickly as they should and many don't work Sundays now

Poorlilthing · 13/08/2023 07:53

How long and it been on the market?

notgivinga · 13/08/2023 07:54

Many years ago I worked in an estate agents office and pretty sure all offers had to be passed onto the vendor.

Twiglets1 · 13/08/2023 07:54

It was a decent offer and your EA was just doing what they always do. It’s a good Sales technique to always pretend that the first offer is insulting. Remember they work for the Seller not you so they are doing what they can to get you to increase your offer.

They will put it to the vendor and I expect the vendor will see it as a decent offer, if they’ve got any sense. However, the EA will try coming back to you and asking if you can go any higher, at least to 600k.

When they do, I would ask if they have any other offers higher than yours on the table. If they don’t then I would leave 590k on the table. It’s possible a deal could be done to settle somewhere between 590-600k if you want to secure the house quickly. If you are prepared to wait it out, however, and wouldn’t be devastated to lose the house you could just stick at 590k.

XVGN · 13/08/2023 08:50

Welliouta · 13/08/2023 07:40

So I need a bit of a reality check after the agent making us feel that we are in the wrong. We gave an offer to the vendor’s agent of £590,000 on a house of £625,000 that had been on the market since March (reduced from 650 in June). The agent, without speaking to the vendor told me she thought 590 was too low and they prob would not accept it. I said we thought it was a good offer in the current market and asked her to put it to the vendor. We haven’t heard back yet. So now we’re thinking - was the agent right? We thought this was quite a decent offer! Bit of context, it’s in an area that is quite slow moving and this property is at the higher end of houses in the area.

How proceedable are you? If very, then highlight that and don't get manipulated higher. If not, then I'd not really be entertaining offers from you.

DrySherry · 13/08/2023 11:32

You should always ignore the agents view of what may or may not be accepted. It's their job to get the highest price for the vendor. You were polite but firm so just give it some time.
It's possible the agent knows that the seller can't afford to sell for less than xxx - but in that case you would be overpaying on what you feel its worth to you. The sellers financial situation is not your concern. Only what you would feel comfortable paying matters.

Original poster
Welliouta · 14/08/2023 11:19

@Poorlilthing it’s been in the market since March. Reduced down from £650 to £625 in June. I still haven’t heard back from their agents. I think we’ll keep looking in the meantime. I hate all this game playing- is it always this way?!

OP posts:
Poorlilthing · 14/08/2023 11:23

I don’t see any game playing?

Poorlilthing · 14/08/2023 11:24

The agent, without speaking to the vendor told me she thought 590 was too low and they prob would not accept it.

very normal to give their view

its only 11am on Monday morning. Give the vendor a chance to consider it!

Sundaefraise · 14/08/2023 11:28

It may be that the agent knows what level of offer the vendor is prepared to accept. I bet they want £600k. Still it’s not a ridiculous offer, but I think some vendors probably haven’t caught up with the reality of a falling market.

Mildura · 14/08/2023 12:48

What game playing?

Genuinely not sure what you mean.

User83rhd · 14/08/2023 13:33

Poorlilthing · 13/08/2023 07:53

How long and it been on the market?

It literally says in the 2nd sentence of the OP.....

Poorlilthing · 14/08/2023 13:35

😂

sunshinesupermum · 14/08/2023 13:39

You are being impatient. The estate agent needs to pass the offer to to vendor who may be at work and unable to give an answer yet!

rainingsnoring · 14/08/2023 13:43

Welliouta · 13/08/2023 07:40

So I need a bit of a reality check after the agent making us feel that we are in the wrong. We gave an offer to the vendor’s agent of £590,000 on a house of £625,000 that had been on the market since March (reduced from 650 in June). The agent, without speaking to the vendor told me she thought 590 was too low and they prob would not accept it. I said we thought it was a good offer in the current market and asked her to put it to the vendor. We haven’t heard back yet. So now we’re thinking - was the agent right? We thought this was quite a decent offer! Bit of context, it’s in an area that is quite slow moving and this property is at the higher end of houses in the area.

It's a perfectly reasonable offer but did you only submit it this morning. If so you are being impatient. Even if it was Saturday, give them a bit of time or email the same offer in writing.
Ignore the agent's response.

CantThinkOfANameAtAll · 14/08/2023 13:48

Perhaps the EA knows what the minimum the seller is likely to accept so was pre-warning you for disappointment. That is not game playing.

Original poster
Welliouta · 14/08/2023 14:27

@rainingsnoring no we submitted offer on Friday.

OP posts:
lastseasonstop · 14/08/2023 14:36

They might have had viewings booked over the weekend and didn’t want to cancel those. The sellers may need to discuss offers with family members and make plans. It’s not a game. Some times it just takes time.

Saschka · 14/08/2023 15:01

It’a a reasonable offer, but the estate agent may know the buyers won’t accept it. We put an asking price offer on one where the vendor had decided to only accept offers 10% over asking. Which is obviously their right.

Typz · 14/08/2023 15:41

Sometimes when a low offer is made, the seller gets mad at the estate agent for valuing too high. Which is one reason some agents don’t like passing on low offers: the buyer may yell at them.

Also, some sellers like to ‘sit on’ an offer, neither accepting nor rejecting it. Others get offended and ignore low offers.

However friendly the agent may be, they only work for the seller and neither of them are under any obligation to talk to you, and they might not bother if they think you can’t afford what they are wellibg.

fullbloom87 · 14/08/2023 15:50

Twiglets1 · 13/08/2023 07:54

It was a decent offer and your EA was just doing what they always do. It’s a good Sales technique to always pretend that the first offer is insulting. Remember they work for the Seller not you so they are doing what they can to get you to increase your offer.

They will put it to the vendor and I expect the vendor will see it as a decent offer, if they’ve got any sense. However, the EA will try coming back to you and asking if you can go any higher, at least to 600k.

When they do, I would ask if they have any other offers higher than yours on the table. If they don’t then I would leave 590k on the table. It’s possible a deal could be done to settle somewhere between 590-600k if you want to secure the house quickly. If you are prepared to wait it out, however, and wouldn’t be devastated to lose the house you could just stick at 590k.

No that's not how it works. The EA has a reasonable understanding of what the vendor is willing to drop to.
Trust me they would not risk losing a buyer or wasting time to get a couple more quid in commission.
If they don't respond straight away it's usually because the vendor is taking their time to make their decision or the EA is discussing the pros and/or cons of that offer.

fullbloom87 · 14/08/2023 15:55

Welliouta · 14/08/2023 11:19

@Poorlilthing it’s been in the market since March. Reduced down from £650 to £625 in June. I still haven’t heard back from their agents. I think we’ll keep looking in the meantime. I hate all this game playing- is it always this way?!

There is no game playing. There are many factors to consider. If you offered asking price or just short of it you would have got your answer much quicker. You instead offered much lower then the asking price, so you can only expect them to take longer in their decision making.
Offering such a low price is more game playing on your behalf not the EA or the vendors.

Twiglets1 · 14/08/2023 16:17

fullbloom87 · 14/08/2023 15:50

No that's not how it works. The EA has a reasonable understanding of what the vendor is willing to drop to.
Trust me they would not risk losing a buyer or wasting time to get a couple more quid in commission.
If they don't respond straight away it's usually because the vendor is taking their time to make their decision or the EA is discussing the pros and/or cons of that offer.

Show quote history

It's a classic sales technique and EAs are sales people.

You can disagree if you want but I have seen this technique used many times. You are just a random person on the internet (as am I) so please excuse me if I don't consider your opinion more important than mine just because you preface it with "Trust me" or "that's not how it works".

rainingsnoring · 14/08/2023 19:50

fullbloom87 · 14/08/2023 15:55

There is no game playing. There are many factors to consider. If you offered asking price or just short of it you would have got your answer much quicker. You instead offered much lower then the asking price, so you can only expect them to take longer in their decision making.
Offering such a low price is more game playing on your behalf not the EA or the vendors.

Show quote history

5% off asking in a falling market is hardly 'such a low price'. It's perfectly reasonable.
I agree that it probably isn't game playing, just the vendors taking some time to make up their minds.

@Welliouta-perhaps email them at the end of the week if you still haven't heard and keep on looking in the meantime.

Poorlilthing · 15/08/2023 15:10

They will put it to the vendor and I expect the vendor will see it as a decent offer, if they’ve got any sense. However, the EA will try coming back to you and asking if you can go any higher, at least to 600k.

not unless the vendor has asked them to they won’t @Twiglets1

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