Estate Agents

[PlanB]

Re: Estate Agents

Has anyone had any experiences or have any helpful tips

Here's a tip

Never sign a contract for "Sole Selling Rights". This means the agent can claim commission even if you sell it privately to a family member or a random stranger/neighbour who wasn't introduced to the property by the agent. Make sure the contract says "Sole Agency". There's a subtle difference which could cost you thousands of pounds if you get it wrong.

A contract is a two-way street. You can say what you want it to be included too. Most agents will try to tell you there's a minimum instruction period of 20 weeks to prevent you going elsewhere during that period. I always tell them 8 weeks maximum because if they haven't found me a buyer in that time then I intend to switch to another agent.

There is also interesting case law (COA so no arguing) on an estate agent who tried to claim commission on a sale because the eventual deal was done via another agent even though he (the buyer) had been shown the property by Foxtons previously. Foxtons lost

http://www.bailii.org/ew/cases/EWCA/Civ/2008/419.html *

* you may need to refresh this link

[Beefy1976]

Re: Estate Agents

Thanks again for all the replies and advice.

I would not consider an online agent purely because I don't want to have to show people round. I also have a dog who has separation anxiety issues if I lock her in a room away from me and will just bark - She is nearly 13 and very set in her ways.

It's an 8 week sole agency contract after which time I can do what I like, but they do ask for 2 weeks notice.

I am buying another house but not in the same area and I may not do it all in one go. I may rent for a while whilst I decide on exact areas etc - I see what you mean PlanB about keeping it all under one roof, that was something the bigger agent mentioned too.

How people can enjoy moving is beyond me!

[Beefy1976]

Re: Estate Agents

Well, I think it's all a lottery.

Instructed the new local set up last Tuesday, had viewings at the weekend (which I did myself), accepted an offer today.

No for sale sign, no details, no nothing...

If this goes through, it's the easiest money the agent has ever earned.

I am considering a career change

[Deepie]

Re: Estate Agents

Well, I think it's all a lottery.

Instructed the new local set up last Tuesday, had viewings at the weekend (which I did myself), accepted an offer today.

No for sale sign, no details, no nothing...

If this goes through, it's the easiest money the agent has ever earned.

I am considering a career change

LOL ....I sold a house back in 2004 £ 55,000 ...

The estate agent I appointed there and then ....made one phone call while I was there and sold it ...

He said £ 500 cash ...LOL

The sale went through no problem ....but that was back then

Good Luck

[PlanB]

Re: Estate Agents

Instructed the new local set up last Tuesday, had viewings at the weekend (which I did myself), accepted an offer today.

If this goes through, it's the easiest money the agent has ever earned

Lucky you. Don't resent your agent. If he found you the perfect match within days then you should be so lucky. He's worth every penny.

[Woodgate]

Re: Estate Agents

Lucky you. Don't resent your agent. If he found you the perfect match within days then you should be so lucky. He's worth every penny.

[SA Gold]

Re: Estate Agents

The only thing i would add is that i honestly believe these agents only act in their own interest and not the buyer or seller.
A lot of people think their loyalty is with the seller: to get the highest possible price so they get the highest amount of commission. I did too until i saw with my own eyes they are happy to give people a top figure (and use that to base the fees on!) only to tell potential buyers "they would accept X".
We didn't realise we were looking at a house (the agents always ask the seller to bugger off when showing people around - wonder why?!) of an old school friend who was told "would get 155K no problem at all". We looked at it twice and was told on the second viewing "i can get this for 140K for you".

I also viewed a house and was told by the bird showing us around they would only forward offers to the owner who had seen their mortgage advisor. I appreciate they may get time wasters - but we had already had a mortgage in principal and a letter saying this but she wasn't interested.
If i wasn't so busy as the time i was going to write a letter to the seller telling them exactly what had happened.

They are all sharks in my opinion. In this day and age, i am amazed that more people don't just list on rightmove (can individuals do that?) try and weed out time wasters and then engage with solicitors when needed.

Just my 2 pence worth!

[MrsD]

Re: Estate Agents

individuals don't appear to be able to list on rightmove, seems to be a bit of a closed shop

I did try, but without any success
I agree they are all a right waste of time, all these so called "lists of folks wanting a house in your street" are pie in the sky

[SA Gold]

Re: Estate Agents

individuals don't appear to be able to list on rightmove, seems to be a bit of a closed shop

I wonder if rightmove is owned/ has interests in one of the big chain of sharks mrs d?

An opportunity for simple serve perhaps?

[Beefy1976]

Re: Estate Agents

One of the agents told me that Rightmove is very expensive. Each agent pays a flat fee regardless of size and that fee went up by 20% this year.

There is a new website in the offing that is a mutual owned by many estate agents to try and rival Rightmove and Zoopla but he said Rightmove is so big they will always be the main one.

I did note that the agent changed their spiel to suit - Put it on before Christmas so you get all the Christmas traffic on Rightmove/Zoopla was the advice as I was going to go on mid January. When it came to the offer, because I had gone on before Christmas, if I held out for a higher price the house would not be new in January so may be missed/over looked. I put it on for a higher price and had a figure in my head and that's what I been offered. I was upfront with the agent and said he could tell the people making the offer what I want. I can't see any point messing around and going back and forth when you have a figure in mind. Maybe if it were a unique property I wouldn't have been so honest but I know how much local houses the same as mine have sold for and how long some of them have taken to sell.

It could be though that you don't find that 'one' buyer and they spend months marketing the house and doing viewings. I guess in my case they will make a lot of money, put that will cover houses that they have trouble selling and have to work hard. The agent I used sold another house in the cul-de-sac so will be getting some good PR round here as that sold quite quickly too.

I just hope it all goes through with as few issues as possible.

Beefy

[PlanB]

Re: Estate Agents

There is a new website in the offing that is a mutual owned by many estate agents to try and rival Rightmove and Zoopla but he said Rightmove is so big they will always be the main one.

He was bluffing (aka lying). Trust me. Watch this space from 26th January . . . .

http://www.thisismoney.co.uk/money/m...s-believe.html

[Beefy1976]

Re: Estate Agents

Well after what has been a roller-coaster ride, I finally exchanged today

[Deepie]

Re: Estate Agents

Well after what has been a roller-coaster ride, I finally exchanged today

These things are never straightforward ....but well done

[MrsD]

Re: Estate Agents

well done, bit of an achievement!

[IF]

Re: Estate Agents

Well done from me too Beefy