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Teddybears

Estate Agents Priority List !

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Hi all. I have been a HPC regular for many years but this is my first post about estate agents! I have STR but am still looking to buy at a decent price, unfortunately a lot of estate agents in the area have a priority list. Up until recently to get on the priority list all you needed was to be in a good position such as sold or had cash in bank to buy but now they demand you have to get your mortgage through them, if not, then then you will not be notified of the property available until after all the potential purchasers who are going to use their services have viewed it first and declined it. I had a very heated discussion with one agent as several properties come on rightmove already sold due to their priority list, the agent admitted due to the slump in sales in general, the agency would probably go bust if not for extra cash from mortgage approvals. One agent in the area who does not have a priority list wants the poor vendors to know whats going on, as even if a quick sale is required and a cash buyer waiting, agents will still call up their clients who will be using their services which could take months for the mortgage to go through, if at all. If you are selling your home,do not go with an agent with these lists as you are limiting yourself to potential buyers in a good position who could move quickly.

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Simples - pop a note through the door of the vendor explaning that you're interested in the house but the agent is being unhelpful. Tell the agent you're going to do this.

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I may be wrong but isn't this illegal?

Why?

You've not entered into a contact, written or verbal with anyone and are not seeking to circumvent the estate agent and thereby persuade the vendor to deal directly with you. All you are doing is saying that you'd like to come to the party and would be happy to do so via the EA, who appears to be acting primariy in his own interest in preference to that of the vendor.

Unless the vendor has entered into a contract that specifically authorises this practice, then the EA is probably acting illegally, or at the very least could be at risk of action by the vendor.

Personally, I'd take it up with Trading Standards. It would also be worth taking it up with the local rag, but they are so in hock to the EAs for advertisng revenue they'd not touch the story with a sh1tty stick.

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I think it's all spin.

Why would a vendor only want their house shown to a small group of buyers only? What I mean is if it got an offer of asking price within the first week, I would suggest it was advertised too cheaply. I would want the whole market to 'price' my house so I know I'm getting the best price.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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