How do you know you can trust an Estate Agent?

bob2oo7

Having had some bad experiences, I need to know how to find an estate agent you can trust

I once found a property that I wanted to buy, asking price was 225k. I met with the agent and he instantly told me that there was already an offer of 210k and that I would have to better that, which I did consider

So I looked into it a bit more, and there was issues around planning permission on another site beside the house. Based on that planning, the house couldn't be sold or even be modified

The agent denied the whole thing, saying no way, I was wrong etc.

He then spoke to the owners and come back to me and apologized

I wasn't happy so I decided I would not be offering more than the current bid of 210

So it turns out that the property was then sold for 140k, 85k lower than the asking price. So my guess is that there was never a bid of 210k and that the agent just lied to try and start a bidding war

I have since had other issues with other properties where all of a sudden "there was a higher bid" and that you need to out bid someone else

How can I trust any of them? The only way I can think of doing that is by dealing directly with the sellers, which I can only assume can't happen.

I know if I was selling a house I wouldn't mind talking to people and I certainly wouldn't like my agent lying to everyone

Its very frustrating....I don't like being screwed over

Is there anything I can do?

roadsmart

How do you trust an estate agent?

Only when they cover him with the last shovel of earth, and then you'd want to drive a stake through his heart just in case. Then you know you can trust him.

Pat Mustard

It was once advised to me that you can trust an estate agent as far you can throw his car.

If you are buying, you have to be vigilant. You can't trust them. Their job is to take as much of your money as possible.

byronbay2

Old joke but .......

How do you know when an estate agent is lying?

His lips move!

Ray Palmer

In fairness to estate agents you can't trust any agent. It is just the nature of the work. They are specifically trying to get the best price.

Although I find it hard to believe they do half of what people say as they gain so little from it. If I was an agent it would be about turnover not spending days to make the extra which doesn't seem to be much. Maybe 6% for the company that the individual agent gets if they are lucky half.

In that example it doesn't make any sense. It sounds like the most bazar childish attempt. The only real way to get it honest is to insist they are honest with people bidding when you are selling.

Could be a business in a honest stamps for agents where by the bidding record can be reviewed.

o1s1n

While buying a house last year, all the estate agents we met were pompous snakes. I absolutely hated one and loved nothing more than leaving him hanging for a while.

However, one particular agent in Sherry Fitz Bray was really lovely. We got chatting to her at a viewing and told her what we were looking for/the area etc.

A couple of weeks later she rang us, with literally the exact house we were looking for in the exact area - and better, still, it wasn't being listed anywhere. Was up for a quick sale.

Ended up getting it for a great price too. Still can't believe our luck :eek:

So that changed my view somewhat... I still think 90% of them are snakes though!

No Pants

Why would you trust an estate agent? He doesn't work for you. In fact, his purpose in the entire transaction is to extract as much money from you as possible.

SeanSouth

Why should the estate agent trust you. After all, arent you trying to screw him over as well, trying to pay as little as possible................

The_Morrigan

Folks can we keep this to serious on topic posts please.

coolbeans

<Mod Snip>. Estate agents are generally bastards because it's their job to be bastards. They're hateful to most based on experience and facts. I find that ruthless, morally bereft or stupid people be EAs. Often it's a combination of both. The money they can earn relative to what they actually do and are qualified to do is, and has been, scandalous in the recent past. They also played their part in the disastrous property crash for which they deserve even more contempt.

Bottom line, If it really bothers estate agents to be described as above they should change their profession.


I almost never generalise about large groupings of any kind because stereotypes are often wrong. I make an exception for estate agents.

Ketchup and beans

coolbeans wrote: »

<Mod Snip>. Estate agents are generally bastards because it's their job to be bastards. They're hateful to most based on experience and facts. I find that ruthless, morally bereft or stupid people be EAs. Often it's a combination of both. The money they can earn relative to what they actually do and are qualified to do is, and has been, scandalous in the recent past. They also played their part in the disastrous property crash for which they deserve even more contempt.

Bottom line, If it really bothers estate agents to be described as above they should change their profession.


I almost never generalise about large groupings of any kind because stereotypes are often wrong. I make an exception for estate agents.

"Based on experience and facts" - please provide examples? Based on experience and facts you're an absolute idiot, for example, the above post. " often it's a combination of both" sorry, how often??? Do you expect us to believe you have dealt with that many estate agents???

And sorry but to say they Played a part in the property crash proves you know nothing .., I challenge you to find anyone who has credibility to agree with you there ... It's actually laughable.. Yeah those damned Irish EAS triggering the US subprime mortgage collapse goddamn them... If it wasn't for them like the federal banks would never have over lent....

To the mod, I'm new but how can you delete my posts and leave ignorant posts like this guys here??? It seems like you support attack but not defence, I thought this was an open forum.

The_Morrigan

Ketchup and beans wrote: »

"Based on experience and facts" - please provide examples? Based on experience and facts you're an absolute idiot, for example, the above post. " often it's a combination of both" sorry, how often??? Do you expect us to believe you have dealt with that many estate agents???

And sorry but to say they Played a part in the property crash proves you know nothing .., I challenge you to find anyone who has credibility to agree with you there ... It's actually laughable.. Yeah those damned Irish EAS triggering the US subprime mortgage collapse goddamn them... If it wasn't for them like the federal banks would never have over lent....

To the mod, I'm new but how can you delete my posts and leave ignorant posts like this guys here??? It seems like you support attack but not defence, I thought this was an open forum.

Mod Note: do not post in this thread again.
If you wish to continue posting in this forum then I suggest you read and abide by the charter.

coolbeans

So yeah, I think estate agents are untrustworthy.
You'd be kinda naive to trust any. Like.

The_Conductor

coolbeans wrote: »

Like.

Like what? Sectoral- or general agents? What have you in mind?

Phil_Lives

When can you trust an Estate Agent? Never!
Their best interests don't align with yours so you should never trust them.

gk5000

Never trust them, but that does not give them an excuse to be dishonest.

Ask to see evidence of the bid for 210.

dizzymiss

So the general feeling is dont trust the EA. Ever. My question is, would it be okay to go up to the sellers door and ask straight out where are we at?

Carbon125

dizzymiss wrote: »

So the general feeling is dont trust the EA. Ever. My question is, would it be okay to go up to the sellers door and ask straight out where are we at?

Yes, if possible bypass the estate agent. Particularly if you have made an offer below the asking price. The estate agent may not have passed it on to the seller although he is obliged to do so.

(Estate agents do not act in the interest of the buyer or the seller. They act in their own interest. Occasionally this will align with the interest of the seller.)

dizzymiss

Carbon125 wrote: »

Yes, if possible bypass the estate agent. Particularly if you have made an offer below the asking price. The estate agent may not have passed it on to the seller although he is obliged to do so.

(Estate agents do not act in the interest of the buyer or the seller. They act in their own interest. Occasionally this will align with the interest of the seller.)

We are above asking now but I dont know how much I trust the EA that there is in fact another bidder. God, EAs give me nervous rage. Hate feeling like you're being taken for a fool.

Greenmachine

Don't trust them an inch.

Carbon125

dizzymiss wrote: »

We are above asking now but I dont know how much I trust the EA that there is in fact another bidder. God, EAs give me nervous rage. Hate feeling like you're being taken for a fool.

It is important not to become emotionally attached to the house you are bidding on. Don't fall in love with it, it's just a house. Set yourself a hard limit as to how far you are prepared to bid. Try to get a realistic impression of house prices in the area you are looking at by checking out the actual sale price of houses at the Residential Property Price Register.

dizzymiss

Carbon125 wrote: »

It is important not to become emotionally attached to the house you are bidding on. Don't fall in love with it, it's just a house. Set yourself a hard limit as to how far you are prepared to bid. Try to get a realistic impression of house prices in the area you are looking at by checking out the actual sale price of houses at the Residential Propethe theice Register.

A lot of people have said this to me and I understand where they are coming from, I really do but how can you not be emotionally attached. The house you bid on is a house, an area we can see ourselves living in and raising our family. If I didnt love it, I wouldn't bid on it. We have set ourselves a limit and although it will kill me, we will walk away. I might be a fool of the heart but most certainly not of the head. Im getting used to the idea that this is now a strong possibility. See, bloody EAs making me a mug.

SIX PACK

Would it not be better if all potential buyers had to put it in writing if they are going to out bid you !
That way the Real estate agent can't be making up fictional bids. Or would that work ?
Because a friend of mine was buying a property last year that was on the market over a year for 70k estate agent seen that he was very interested in it. He got a call 2 days later saying the latest bid is gone up to €75,000 so he put in another bid of 76k . Even though agent was trying to persuade him to put in €80,000
He got the house for €76,000 in the end .

Carbon125

dizzymiss wrote: »

We have set ourselves a limit and although it will kill me, we will walk away.

Once you decide to walk away, ask the estate agent if he can deliver hard proof of the existence of the previous bid...

Carbon125

SIX PACK wrote: »

Would it not be better if all potential buyers had to put it in writing if they are going to out bid you !
That way the Real estate agent can't be making up fictional bids. Or would that work ?

Yes, that would work. But consider: if this was required by law, you would instantly stamp out 90% of white collar crime in the country! Do you really want that? This is Ireland, after all!

[sarcasm mode off]

The different governments (umm, how are they actually different?) WANT inflated house prices. That is why NAMA was established. That is why no procedures have been implemented to effectively stop estate agents from ghost bidding.

TeaBagMania

Are you not allowed to speak directly with the owner privately, agree on an amount and then bring the EA’s back into the room?

SIX PACK

Would be handy if that was the case but here is a site anyone who is buying or selling Real Estate to consider. Its growing year on year
http://www.sellityourself.ie/sell_your_own_home.htm

Pat Mustard

TeaBagMania wrote: »

Are you not allowed to speak directly with the owner privately, agree on an amount and then bring the EA’s back into the room?

There is no law against it, but it doesn't happen in practise after an EA has been hired. A sensible seller isn't going to hire an EA and then potentially undermine himself/herself by doing that.

TeaBagMania

I plan on purchasing a home in Ireland in the distant future and trying to better understand the process and people involved. It appears (from some of the accounts I have read here) the EA’s are playing games with potential buyers that could ultimately end in losing a sale for the owner.

If I found out my EA was trying to better their commission by playing games with the buyers behind my back id sack them on the spot. They should present all offers and let the owner decide whether to accept or deny them.

In the US we have a system that more or less eliminates this scenario, at the beginning of the contractual process there is an offer letter sent to the owners EA.

The owner has 72 hours to accept, deny, or counter offer your bid. It’s signed by the owners and returned to the buyers EA so at least you know the owners were made aware of your interest in the property.

gctest50

Girls car goes on fire, misses appointment

4.28pm - Steve Charlton: ‘You missed a call from me at 16.28, May 21. This is a free Call Alert from O2.'

4.29pm - Ashlie Hamlyn: ‘Who is this?’

4.30pm - Mr Charlton: ‘Steve from Clarendon Estates. We had a viewing booked’

4.43pm - Mr Charlton: ‘????’

4.45pm - Miss Hamlyn: ‘Oh sorry, my car has just gone up in flames. I’ve had to sort that out. Sorry.’

4.58pm - Mr Charlton: ‘Ouch I’ve had that happen before. Your insurance should sort it. Sorry about your problem. When would you like to go?

4.58pm - Miss Hamlyn: ‘I won’t be doing today, sorry. Will have to get back to you’

5.00pm - Mr Charlton: ‘Another day?’

5.02pm - Mr Charlton: ‘We also have two others you may like’

5.03pm - Mr Charlton: ‘F***ing liar’

5.06pm - Miss Hamlyn: ‘Excuse me?’

5.08pm - Mr Charlton: ‘Just spoke with Fran that you couldn’t be bothered to cancel the appointment I find that so rude’

5.12pm - Miss Hamlyn: ‘Safe to say I won’t be using you as an agent. Maybe you should remember who your potential customers might be.’

5.31pm - Mr Charlton: ‘Your not a customer you were a tenant which we were helping and you didn’t show any respect cancelling the appointment you are meant to be a professional person’

5.44pm - Miss Hamlyn: ‘My car set on fire you obnoxious p****. If you want to drive past [an address] and check out the black 1.0 polo which burnt out before my eyes do if you want proof. Forget that, I’ll got to the local paper about this. How dare you.’

5.47pm - Mr Charlton: ‘How dare you!’

5.48pm - Mr Charlton: ‘Do not contact me again’

5.49pm - Miss Hamlyn: ‘No, the Leicester Mercury will be though.’

5.51pm - Mr Charlton: ‘Very silly little girl’

5.52pm - Mr Charlton: ‘Very silly little girl’

5.53pm - Miss Hamlyn: ‘I don’t see how that would be silly. And calling me a ‘little girl’ isn’t very clever either. There’s no chance I’m going to forget this now...’

5.53pm - Mr Charlton: ‘Now do not contact me again’

5.58pm - Mr Charlton: ‘I’ve asked you not to contact me one more text or call I will also take this further’

http://www.dailymail.co.uk/news/article-2640436/Leicestershire-estate-agent-swore-25-year-old-missed-flat-viewing.html#ixzz32yskcmcw

The_Conductor

As a number of potentially defamatory or libelous comments have been posted in this thread- and frankly I don't have time to play 'whack a mole'- this thread is closed. Sorry guys.