Is it unethical to approach vendor to check if they received my offer?

[PINKSHARK78]

Afternoon forum readers,

We are first time buyers, put on an offer on a property that was rejected. Agent spelt out how much would be an acceptable one for the seller,but we decided to wait a bit longer before we match it, to see, if vendor changes their mind and accepts our initial offer. Two weeks later, we are calling the agency, we are told the agent who was dealing with us, no longer works for the company. Regardless of that we put our offer forward that we were told would be accepted by vendor, but to our surprise, we were told, it was way too low and that the vendor is looking for offers that is min 10k higher than ours. I was too embarrassed to tell the agent, that the previous agent said it would be accepted. Now, we are thinking of dropping a letter to vendor to make sure he is aware of our offer. I read it online that estate agents sometimes pushing for higher offers even tough seller would settle for less. I know that legally all offers should be put forward to vendor..maybe they changed their mind and want more for their property? Any thoughts, or tips on this subject would be welcome!

[Jeremy]

It seems quite unlikely that the agent is really pushing for a higher offer. If they're on, say, 1% commission, than an extra 10K is nothing to them. If anyone is holding out for a better offer, I'd think it would probably be the vendor.

I don't think it's "unethical" to drop a note through the vendor's door, but it's unlikely to get you anywhere, and could sour your relationship with the agent.

[dbboy]

It seems that although the agent suggests an asking price, they then appear to get a number of buyers interested in the same property and see who will pay more above the asking price.

Their is nothing stopping you contacting the vendor although the agent might be mildly annoyed at you doing so, hey nothing ventured, nothing gained, or wait for the vendor to take it off the market, so their contract with the agent has expired and then put in an offer. You'll save the vendor the agents fee currently somewhere between 0.75% and 3%.

[red devil]

dbboy Wrote:

-------------------------------------------------------

> ....or wait for the vendor to take it off the

> market, so their contract with the agent has

> expired and then put in an offer. You'll save the

> vendor the agents fee currently somewhere between

> 0.75% and 3%.

Surely if this were possible, everybody would do it.

I thought an agent can still claim against a vendor if they withdraw a property from the market, and then subsequently sell it to a buyer they originally introduced to the vendor...

[PINKSHARK78]

Thanks for the correction and reply!

[KidKruger]

I had this with an agent a few years ago.

He kept bumping the price up when I made an offer, telling me that 'another buyer' had matched me.

He didn't actually say I had to offer more, but the inference was there - if I wanted the property.

I went into the branch and asked for evidence of the other offers before I raised my own offer yet again (I knew this would be fruitless, but anyway).

They obviously said that for reason X and Y they can't divulge details.

I withdrew my offers, all of them.

Next day agent (separate individual) called me to say the other (two) buyers had 'withdrawn' and could we settle on the original price.

I tried to reduce the offer even further, which I would have persisted with but I wanted the place, so settled on my original (full asking price) offer.

This showed me that they're cheating lying twats.

So yes contact the vendor politely if you want to.

There are little ethics from agents' side in my experience so why play by rules that don't exist ?!

[rendelharris]

What KK said, estate agents are supposed to have a code of ethics (ahem) and if you sign them up to sell for you there are certain T&Cs you agree to to make sure they get their percentage, but as a buyer you've signed up to nothing, no harm in a polite note through the vendors' door - the worst they can do is ignore you.

Some years ago we were selling my late aunt's house, someone approached us when we were tidying up the garden to say they'd offered the asking price a few days previously and wondered how we felt about it. First we'd heard...though the day before the agent told us he had a cash buyer who was ready to go at once for ?25K below asking. He then denied ever having received an offer...waited for our contract with him to expire and sold it to the person who offered the asking. He tried to kick off but when we pointed out we could report him to the ombudsman became strangely passive.

Go for it and good luck!

[PollyGlot]

Code off ethics with estate agents? Pull the other one.

It's about 40 years ago and I was selling a rental property in Colchester that I had. I was living in the Antipodes at the time and selected an estate agent and put it on the market during one of my bi-annual visits to the UK.

After about two months, of zero interest from buyers, I eventually accepted an offer about 10% below the asking price. Three weeks later, I made an unscheduled visit to the UK and went to check the property and would you believe when I opened the door, I came across a young couple inside in the process of redecorating the lounge. I asked what was going on and they said they were buying the flat and they were just redecorating.

I was apoplexic. This was even before contracts were exchanged and therefor weeks before completion.

It was plain that the agent was complicit in tipping off a friend or relative and then manipulated matters to screw me down on the price.

I sacked that agent for deceipt for allowing someone full time access to the property. Charged him for redecorating costs and appointed another agent who secured me the full asking price.

Have never trusted an estate agent ever since.