Reply to: Unfortunately that property is under offer

[BlasterBates]

Up until the sale agreed point yes. A middleman between you and the vendor/buyer slows things down. I've done it without an agent and it's much quicker.

Maybe it was below market price.

[King Cnvt]

All agents can be supplanted by machines.

Only when machines can lie convincingly.

[NoddY]

All agents can be supplanted by machines.

[Bagpuss]

They talk the market up/down to ensure a swift deal and max commission.

Up until the sale agreed point yes. A middleman between you and the vendor/buyer slows things down. I've done it without an agent and it's much quicker.

[King Cnvt]

All agents are just accomplished liars for the lazy minded.

An Agent merely lies to both parties to make them feel better about a transaction. They talk the market up/down to ensure a swift deal and max commission.

Pure and simple.

[Bagpuss]

Estate Agents

tsk! what a bunch of bastar*s eh?

Estate agents are just order takers, especially in the boom years. I'm not sure exactly what value they add.

If you don't have them the chain moves quicker.
The internet is the only shop window you need.
You are the best person to sell your house.

[richard-af]

Estate Agents

tsk! what a bunch of bastar*s eh?

Funny! But I bet when a pimp meets an Estate Agent, it's like Neo & Agent Smith in Matrix Revolutions!

[DodgyAgent]

Estate Agents

tsk! what a bunch of bastar*s eh?

[BlasterBates]

They used to do it, its called "Gazzumping". I think its good that practice died out.

[ASB]

Estate Agents often have this covered in their contracts with vendors. A common condition is that the vendor will withdraw the property from the market when an offer is accepted.

Last estate I agent I used to sell a property had a clause in there and I sad "Nope, cant agree that take it out". They said "Fine, get another estate agent"

[sasguru]

Ha, Bag-o-pus wants to buy into property. You gotta laugh.

Yes it made me chuckle

[DimPrawn]

From the estate agents perspective this seems to mean the property is unavailable, commission in the bag etc.. Yet they have a duty to inform the vendor (their client) of any interest and are legally bound to report offers, but they almost always don't want to. This is surely a conflict of interest?

Ha, Bag-o-pus wants to buy into property. You gotta laugh.

[Chugnut]

From the estate agents perspective this seems to mean the property is unavailable, commission in the bag etc.. Yet they have a duty to inform the vendor (their client) of any interest and are legally bound to report offers, but they almost always don't want to. This is surely a conflict of interest?

I think they look at each case and decide whether to put them forward or not, even though they're supposed to submit all of them.

They'll submit higher offers if they reckon there's a likelihood the vendor will be happy to pursue it. If the already-accepted offer's purchaser is in a better position to complete than the party with the higher offer, they probably won't bother with the higher one.

Better to chose the route most likely to actually secure the commission rather than automatically choose the highest offer.

[richard-af]

Does it need questioning?

No.

[zathras]

I hope you aren't calling into question the integrity of Estate Agents!

Does it need questioning?