Two agents on the one property

kala85

I'm looking for people's opinions on a situation where there are two agents showing the same property.

I have looked at the property with one agent and need to organise a second viewing.

The first agent I don't want to bid with because has other properties I'm interested in and I don't want to show my hand or bidding budget.

Can I view the house with the second agent and then bid with him.

Would i be better off contacting the vendor directly so that I know what bids are on the property and not missing out .

With two agents, I'm worried that bids may not go to the vendor or there could be a mix up.

Askthe EA

kala85 wrote: »

I'm looking for people's opinions on a situation where there are two agents showing the same property.

I have looked at the property with one agent and need to organise a second viewing.

The first agent I don't want to bid with because has other properties I'm interested in and I don't want to show my hand or bidding budget.

Can I view the house with the second agent and then bid with him.

Would i be better off contacting the vendor directly so that I know what bids are on the property and not missing out .

With two agents, I'm worried that bids may not go to the vendor or there could be a mix up.

Do you know the vendor? How do you propose contacting him directly?

To be honest, if there are two agents, there is possibly something in the background, maybe a bank, or a divorce? Its also possible that there isnt and that the vendor has it up with two agents to maximise sale price. Eitherway, it looks like they need to squeeze every last penny out of the sale.

LollipopJimmy

Askthe EA wrote: »

Do you know the vendor? How do you propose contacting him directly?

To be honest, if there are two agents, there is possibly something in the background, maybe a bank, or a divorce? Its also possible that there isnt and that the vendor has it up with two agents to maximise sale price. Eitherway, it looks like they need to squeeze every last penny out of the sale.

I would have thought listing with two agents will have a negative effect on the sale price. Agent more likely to push for a close much quicker given they have competition?

seamus

That's a very weird scenario, though in this climate maybe agents are willing to do this to "win" sales.

Ring the second agent and ask them what the story is - how are they managing bids & viewings between them and the other agents, etc etc.

Askthe EA

LollipopJimmy wrote: »

I would have thought listing with two agents will have a negative effect on the sale price.

I'd tend to agree, depending on the scenario. If it was a country house type property with a local and a national agent, you'd understand.

A house in a city, I'd be concerned that there is a complication.

kala85

its down the country.

The house was up for sale before with another agent about a year ago but didnt sell.

I didnt look at the house back then.

I know the person selling the house.

I just want to know what I should do in terms of bidding on the house. I think that having one auctioneer can be bad enough in terms of bids and phantom bids, but two could be very messy hence the reason I am looking for advice.

From the sellers point of view , what way does the fees work out on this.
Is each agent entitled to a fee on the sale and I am obliged to bid with the agent I first viewed the house or can I bid with any auctioneer I like.

Could I also approach the vendor directly or would this be very bad form?

Askthe EA

It's not bad form at all. He'll have a decision to make to refer you to them or not. That's all.

Joint agency is more common in rural areas. Wouldn't let it put you off. Phantom bidding is less likely with 2 agents. More chance of one agent complaining to the PSRA about the other.

Just go with the agent you like.

In relation to the fees, depends on the agreement. He may be paying a higher fee split 50/50 or just paying the successful agent. Either is likely.

kala85

If I go to the vendor and bid directly could the agent refuse to deal with me again ?? if I was looking at other houses for example.

Askthe EA

I think you're over thinking it. He either gives them the flick and saves money or refers you to them. They won't know either way and won't care.