There may be trouble ahead - the consumer body Which is asking the public's views on estate agents.
It is not an official Which enquiry of any kind but an online request by researcher Marie Kemplay for readers of the consumer organisation's website to give feedback.
Kemplay's balanced request on the one hand reminds readers that agents can bend the truth (she cites Channel 4's recent Dispatches programme's revelations over how some agents inaccurately promoted Help To Buy and the fees which some agents charge).
But on the other she says estate agents are performing a valuable service by offering an understanding of local housing markets, helping sellers make the most of their properties, and dealing with enquiries from would-be buyers.
She concludes with a request. We're interested in hearing your experiences of using an estate agent - either as a buyer or a seller. Have you felt pressured into using their in-house services Have you felt the sharp end of other poor practice from estate agents
If you want to respond, you'll find the blog on: conversation.which.co.uk/money/estate-agent-fees-nightmares-buying-a-house/
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Comments
That link IS 'The Dark Side', matey! ;o)
Thought you already knew about it - sorry - wouldn't have been so cloak-and-dagger otherwise.
I look forward to our continued banter there!
I have been out of the loop Peebee but came back to read the Hissy fit AM story. I didn't understand what you meant by the dark side but this morning thanks to a link by Arla Agent have discovered an intellligent alternative to this digital toshery.
Let's hope all the Daniels/ Shinerock spivving earns them all they deserve even if it isn't quite what they would be hoping for.
Goodbye EAT and LAT I am fairly sure Gerald Ratner will take great comfort that he is not the only bloke capable of stuffing up something good.
Hi! Ampersat - long time no see! (not really surprising, considering the 'news' we are all now being fed here...)
You really need to come over to 'The Dark Side', matey. Better class of journalism.
See you there ;o)
How funny EAT are now using 20ish year old I reckons to post vexatious tosh to stimulate comments.
I used to look at EAT a few times every day, my first vistit in weeks and it is only Peebee who is managing to get posting levels up to 5. that leads me to suspect that Peebee is Nat Daniels' fairy godmother.
George Dodgeson the only thing apparent from your post is that you have never bought, owned or sold a property and are very unlikely to. If you are after 5 minutes of fame try the Jeremy Kyle route, that is much more your level.
Complete, utter, unadulterated BILLSHUT.
Sorry that some unscrupulous Agent may have run off with your nearest and dearest, or ran over your cat - but don't try to sink us all because of the actions of one.
Seek help. Your anger needs management.
Been wondering why your house hasn't sold
You expected to sell in the usual two months or so. It's not happened. It's over a year now. WHY
YOUR AGENT HAS OVERPRICED IT:--
Everyone uses Rightmove/Zoopla to look for a house -- it's better and far quicker than trailing round the estate agents. The website will tell you instantly what houses like yours are fetching nearby, i.e. SOLD prices, not ASKING. If your house is 20 to 25% more than it should be, you won't even get viewings like you should. 5% "haggling-room" is about right. Agents EASILY ALLOW overpricing -- it suits their purposes. It gets a forsale board on your property. It gets them on Rightmove/Zoopla -- more advertizing, making their housing stock look better. FLATTERY! -- you think you're going to get more money.
OVERPRICING IS A TIME-WASTER BECAUSE :--
The REAL determinators of your house's value are the building societies, not you or the agent. They know the price of every house in the country for what and where it is. Then it's usually 80% loan to THEIR valuation. They employ EXPERTS for this. The few cash buyers follow the big boys. If your house has been on the market a long time, whatever the price, it will be considered a "fake-sale" -- a typical scam by agents to advertize and get potential buyers to call them to see if the buyer calling also has a HOUSE FOR SALE, which the agent can get their hands on to sell. MOST BUYERS ARE SELLERS TOO! There is no intention to sell these "fakes"at all, and sensible buyers won't waste their time with them, OR WITH AGENTS THAT PRACTICE THESE "FAKES". WOULD A BUYER, RISK 100,000 TO 400,000 WITH THESE AGENTS NO NO NO! Buyers aren't stupid with BIG money. They won't trust these dodgy agents.
RESULT OF OVERPRICING Wasted time, even years. Gen. buyers keep clear. A scam agent working ONE scam will be working OTHER scams MOST CERTAINLY.
YOUR AGENT MAY HAVE UNDERPRICED IT !
Some unscrupulous agents do this to involve buyers, then tell the buyer after viewing and an offer, that a better offer above asking has been made, trying to get them to gazump. HOW DO BUYERS KNOW ABOUT A REAL BETTER OFFER They don't, and can't find out. It's a likely scam. Gen. buyers are well aware of this. THIS SCAM CAN WORK with naive buyers. Tragically, naive buyers get involved in this scam, wasting BIG money on surveys and lawyers. When the penny drops after getting gazumped, they won't touch your house or the agent with a bargepole. But as a seller, you're not worried as someone else is buying it, -- OR ARE YOU WHAT IF YOUR GAZUMPER IS RELUCTANT TO GO THROUGH WITH IT AT THE LAST MINUTE BEFORE CONTRACT EXCHANGE -- that very buyer-gazumper can indulge in 'guzundering' against YOU, i.e. offering less at the last minute before exchanging contracts. Nothing illegal! Your scamagent COULD BE working with your guzunderer for a backhander! The situation becomes a mess, A BIG NASTY MESS , AFTER YOU'VE SPENT HEAVY MONEY WITH YOUR LAWYER. FEEL TRAPPED THAT'S THE IDEA! UNDERPRICING, GAZUMPING, GAZUNDERING, ALL GO TOGETHER! ALWAYS GET A VIEWER TO CALL YOU DIRECT WITH ANY OFFER, SOMEHOW. WRITE YOUR NUMBER "OFFERS TO -- XXXX" IN FELT-TIP ON A MIRROR, CERAMIC TILE ETC. IN THE HOUSE IF YOU CAN'T BE THERE. NO GEN. AGENT WILL MIND THIS AT ALL.
HOW DO YOU KNOW ABOUT INTEREST, ACTIVITY, OFFERS, IF YOUR AGENT DOESN'T TELL YOU
It's almost impossible to detect an agent like this. Be assured, AGENTS LIKE THIS EXIST! Try to be there on viewing and slip your 'phone number to the viewer for a "direct offer", as above.
1) Agent doesn't tell you about an offer because it's CASH , therefore no EXTRA commission for agent who is a MORTGAGE BROKER as well as an agent. A cash offer comes from an experienced buyer who doesn't need the agent's building society/surveyor/lawyer/mover, who are all paying the agent a fee/backhander. Add up this extra money and it can DOUBLE the agent's commission!
2) Agent doesn't tell you about an offer as he's playing a long waiting game for a buyer he's already lined up who will pay a giant backhander to the agent when you get desperate enough to sell cheap. NOTICED HOW SOME SOLD HOUSE PRICES SEEM SO RIDICULOUSLY CHEAP Some agents actually advertize THEY will buy your house! How relieved you are to get shot of that place after over a year! No more council tax to pay, no more worries about vandals/squatters. You've been had my friend. Of course it's illegal, BUT HOW DO YOU PROVE IT Just try taking it to the police and see if they can do anything. Or even be interested if it's a civil offence.
SO WHO IS YOUR AGENT WORKING FOR YOU -- OR HIMSELF
BIG NATIONAL AGENTS CAN BE MUCH WORSE THAN LOCALS!!!
One thing you won't notice as a seller -- when the agent answers an inquiry about your house from a buyer, the agent always slips in THE question -- "do you have a house to sell Sir" If the inquirer hasn't, the agent won't be able to replace his housing stock easily with another when he sells yours. This downgrades you in the agent's eyes in favor of another buyer who has a house to sell. This in effect reduces the number of buyers able to look into your property. This is unbelievably common.
( Thankfully, things are changing. On-line estate agents working for about a THIRD the fee of usual agents are taking over. It just means you must do your own viewings, provide pictures, and accept viewing stangers in your house. So what Just have someone with you. Set your price close to sold prices nearby. And isn't an hour or two of your time worth a couple of thousand saved Agent's backhanders are virtually impossible on-line. YOU deal direct with your buyer, sort it out with him there and then, no SUBTERFUGE. Two months later you are probably exchanging contracts. All you need to do is establish he has his loan in place, or can pay cash with proof he has it. Verify he's not part of a chain, needing to sell his house to buy yours. If he's genuine, he'll already have details about his lawyer/converyancing firm with him for you to take details. There are lots of giveaways with gen. buyers. They look at everything from rooftile condition to damp basements. Inquiring what's to be left in the property like cookers, carpets, curtains, Asking penetrating questions about cavity wall insulation, whether leasehold or freehold, what the neighbors are like -- do they have dogs, make a lot of noise etc. A gen. buyer will come back for a second viewing with wife/husband/partner. Lots of stuff like this. They likely will want a surveyor to check your property. You will need to organize times for this. It's all work of course, but you're a lot less likely to end up with a big NOTHING happening, than with a dodgy agent who is working for himself -- NOT YOU)!
NEVER, NEVER SIGN AN EXCLUSIVE CONTRACT WITH ANY AGENT!
IF AGENT WON'T PLAY UNLESS YOU SIGN -- WALK!!!
THEY HAVE GIVEN THEMSELVES AWAY! SELECT AN AGENT VERY CAREFULLY.
as long as they split letting agents from sales agents and dont ask preconcieved questions over real experiences..which needs which to sometimes
Prediction. No need for a survey. 80% of respondents (usually those with a 'gripe') will 'slag off' agents in one way or another.
Why Because the majority know nothing of the work involved.