FACEBOOK Posted October 30, 2013 Author Share Posted October 30, 2013 If I was the vendor I'd be quite happy to take the higher offered price and quite happy to tell the agent to do one for breach of contract. And I don't think I'm unusual. I wouldn't have to take them to court, I'd stop talking to the agent, not pay them anything (certainly not a % of the sale price which is their main earner) and remove their sign. They'd be the ones who'd need to go to court, and they'd look pretty silly in that situation if they did, in clear breach of both contract and criminal law. The regulatory body has both the time, money and inclination. I think you may be confused cyclone. The estate agent is on YOUR side, NOT the buyer. You hired the agent remember. You are paying the estate agent to sell you the house and to get you the most amount of money possible by putting the big squeeze on any interested parties. GET OUT Of THE WAY and let him do his job and stop negotiating with buyers, stop talking to them. In fact, you're barred from attending the viewing. I think in your case you need to allow the agent to do it while you're out. Help them to help you eh Cyclone. Stop trying to take your agent to court. Link to comment Share on other sites More sharing options...
Cyclone Posted October 31, 2013 Share Posted October 31, 2013 When they fail to pass through genuine offers and act fraudulently as you suggested then they're not on the vendors side nor acting in their best interests. It was your example, where a house is sold to the 'mate' of the estate agent for 15k less than the next best offer which they fail to pass on to the vendor. Surely not even you believe that that is acting in the interests of the vendor. Link to comment Share on other sites More sharing options...
FACEBOOK Posted October 31, 2013 Author Share Posted October 31, 2013 That was just one example. The point is, you can't regulate an agent to be 100% honest because honesty doesn't get more money out of buyers. Agents are always going to do what's best for their sellers but mostly for themselves. That's the game and you'll never be able to regulate against that. It really is stating the obvious. Think about the whole sealed bids process, you can only imagine the fun agents have with that. ---------- Post added 31-10-2013 at 08:38 ---------- It's not like me to be so naive but I was quite shocked at the advice the agents gave buyers without the required proof of income to simply purchase a residential property with a buy to let mortgage instead. That is really dodgy advice to be fair and the buyers seemed totally ignorant about the possible consequences that could come from doing that. I know a lot of buy to let lenders insist applicants already have a residential property in place before they can apply but quite a few don't. Although, I guess if someone can't meet residential criteria and are desperate to buy, they'll take their chances but seeing agents actually advising it as a work around without telling the buyer of what could happen if found out is really unfair. Link to comment Share on other sites More sharing options...
Cyclone Posted October 31, 2013 Share Posted October 31, 2013 I don't think I ever said 100% honesty was achievable. That doesn't mean that the industry should be left unregulated though. The fact that it's difficult doesn't mean it shouldn't be done. Link to comment Share on other sites More sharing options...
FACEBOOK Posted October 31, 2013 Author Share Posted October 31, 2013 Take property auctions as another example, they really are like the wild west. Some of the things that go on in property auctions are literally hilarious. Put all the regulations you like in place, but you'll never stop the underhand tactics. Human nature thrives off greed. Better to know the rules and realities of the game then try and stop them unfortunately. Link to comment Share on other sites More sharing options...
Norseman Posted October 31, 2013 Share Posted October 31, 2013 We had a good experience with Blundells when we bought our house. Though a few people I know have had issues with H********s and all of a sudden the house doesn't sell and its back on the market again...maybe its just coincidence eh? Link to comment Share on other sites More sharing options...
chipspice Posted October 31, 2013 Share Posted October 31, 2013 I figure some of you will have watched this the other night. Nothing new, the media loves to attack estate agents nearly as much as they do landlords. Personally, I don't have any problem whatsoever with an estate agent aggressively promoting in house mortgage deals if that is how they make extra money. Operating an estate agency is a business, they spend big advertising budgets to acquire for sale listings, so how they wish to maximise their profits on acquiring those listings should surely be up to them right? Well apparently not. I'm not saying that everything agents get up to is above board, but you can't regulate something like this, they'll just find ways around any regulation to reach their aims. If you were desperate to buy a house, wouldn't you want to know a way you could secure the property for yourself over others. Who cares if you have to bung them a few quid. Life isn't all rainbows and moonbeams, but the masses cry foul as usual. Anyway, some blurb and link. As house prices soar once again and the government's 'Help to Buy' scheme kicks in early, Channel 4 Dispatches goes undercover to investigate this property market boom. Reporter Antony Barnett secretly films the latest tactics used by estate agents to secure sales and commissions and asks whether some agents are even willing to lie to seal the deal. http://www.channel4.com/programmes/dispatches/4od I have a problem with it when they lie and say it is cheaper to use their "in house" solicitors who are usually not even in the same city who then charge extortionate amounts by adding on hidden extras that they forgot to mention when you were told the price at the beginning. i was ripped off that way once. Link to comment Share on other sites More sharing options...
FACEBOOK Posted November 1, 2013 Author Share Posted November 1, 2013 I have a problem with it when they lie and say it is cheaper to use their "in house" solicitors who are usually not even in the same city who then charge extortionate amounts by adding on hidden extras that they forgot to mention when you were told the price at the beginning. i was ripped off that way once. I don't think it makes much of a difference which solicitor you use. Whenever I deal with solicitors these days I always make sure to put on my girlfriends best lipstick and little black dress just so I at least feel pretty before I get .... Link to comment Share on other sites More sharing options...
poppet2 Posted November 1, 2013 Share Posted November 1, 2013 Take property auctions as another example, they really are like the wild west. Some of the things that go on in property auctions are literally hilarious. Please enlighten us. Link to comment Share on other sites More sharing options...
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