Can An Ea Refuse To Pass On An Offer

[bug09]

Emailed an EA with an offer - a low offer, admittedly. Provided justification for this.

After a brief correspondence when I enquired whether it had actually gone to the vendor and could I have a written response, I received this back:-

Hi,No, the offer is not acceptable.The offer is £xx,000 less than the last offer they rejected.Regards

Now, the GBPxx,000 is quite a lot below, I must say. But hey, we're in a bad market.

Anyway, I was under the impression that all offers must be passed on unless written instructions are received from the vendor about a minimum amount. I haven't been advised by the EA of any such minimum.

thanks!

[monty1080]

Emailed an EA with an offer - a low offer, admittedly. Provided justification for this.

After a brief correspondence when I enquired whether it had actually gone to the vendor and could I have a written response, I received this back:-

Hi,No, the offer is not acceptable.The offer is £xx,000 less than the last offer they rejected.Regards

Now, the GBPxx,000 is quite a lot below, I must say. But hey, we're in a bad market.

Anyway, I was under the impression that all offers must be passed on unless written instructions are received from the vendor about a minimum amount. I haven't been advised by the EA of any such minimum.

thanks!

Pretty sure what you're saying is accurate. EAs are obliged to pass on ANY offer pt on a property unless they have been given a minimum amount by the vendor. I have to say that most vendors would not bother giving a minimum amount to an EA because the EA will just use that figure to manipulate them further down the chain.

There is no way I would tell an EA how little I would accept.

I would inform him that he is obliged to pass on your offer and get a response from the vendor.

[bug09]

Thanks Monty.

Anyone know of what legislation makes them obliged to do this? "Estate Agents Act 19xx" or something ??

(Edit: corrected my wording)

Edited September 18, 2009 by bug09

[non frog]

Maybe if they pass on the offer the vendor might figure prices are dropping and that wouldn't be good for their commission

[monty1080]

Thanks Monty.

Anyone know of what legislation makes them obliged to do this? "Estate Agents Act 19xx" or something ??

(Edit: corrected my wording)

Don't know about legislation, that is part of the problem, the f0ckers are under regulated.

try this

http://www.naea.co.uk/uploads/COP/resident...esofconduct.pdf

[bug09]

... and that wouldn't be good for their commission

Yep, I think that about sums it up!! Or maybe the vendor will think the EA is useless at getting the "right" buyers in and take his business elsewhere.

http://www.naea.co.uk/uploads/COP/resident...esofconduct.pdf

Cheers for the link - I scanned through that one but it seems to be more to do with handling monies. However, your link did get me thinking, and a quick google later I found this regarding the Estate Agents Act 1979:-

http://www.oft.gov.uk/advice_and_resources...ng-negotiations

Quote:- "You must give your clients written details of all offers received from potential buyers. This information must be passed on promptly. It can be sent by hand, post or fax.

You should keep a written record of all offers that you receive.

If your client tells you in writing that it isn't necessary to pass on certain offers, you don't have to write in those circumstances. For example, this could happen if the client doesn't want you to write with offers below a specific price level."

[lastlaugh]

Remember, negotiation is a game, estate agents don't work for you or the vendor, they work for themselves.

In rthis case the EA has no leg to stand on. If you can be bothered, you can make a complaint to the Estate Agent Ombudsman. You'll probably get some compensation and they'll be mildly admonished, but it will take up your time and wont change the agents behaviour except to avoid dealing with you in future.

My advice when making a formal offer is to do it formally. Up until that point, deal with agents as if they are your mate only if it suits you. But when you make a formal offer do it in writing and avoid cosy emails. If you think they might not pass it on, then copy your offer to the vendor, you know where they live and, if not, their name and address should be on the HIP.