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Secret Diary Of A First-Time Buyer And Estate Agent Sneaky Ploys

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We do steal vendors off each other,’ the estate agent admits. When a vendor signs up with an estate agent, they are given a 14 day cooling off period. In this time they are free to change their mind at any time. So we look on Rightmove and Zoopla for the properties that have only just come on the market. Then we swing round and knock on the doors and convince the vendor to switch to us instead.

But there’s another trick, it makes my blood boil. You’d think buying a house might be one time that no one tries to upsell to you – after all you’re already handing over every last penny you can – who could be brazen enough to try to squeeze out a bit more?


But some do – they mercilessly try to convince buyers to take one of their mortgages as well because they receive a hefty commission, whether it’s in our interest or not. But I’ve heard that some agents will go so far as to not let you see a property unless you talk to their mortgage adviser. Others say that they can’t recommend that a vendor accepts a buyer’s offer unless they have spoken to their mortgage adviser.

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Why would you steal something that'll cost you time and money to prepare the details, only for the property to sit on the books forever never selling.

Fine - steal as much when houses are transacting and banks are giving away money like, well, NortherRock/WBS.

But this market? FFS, give up the EA office lease, make everyone redundant and sit at home with a website and mobile phone.

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When my daughter and BF were FT buying 3 years ago, they were put under pressure to use the EA's mortgage advisor. So they had the interview and listened to his best quote - and then found exactly the same deal online for £300 less in fees. When they told him, he said he would match it. So they used the in-house one, reasoning that it could speed up the process, which was important since they were in cramped and expensive short-term accomm much further from work. (Oxford). Whole thing was wrapped up from very cheeky offer to completion in 6 weeks. I had expected 3 months.

Always worth a try.

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One major reason EAs want you to talk to their mortgage advisors is because that way they know exactly the maximum you can afford to pay. This is especially true of FTBs. You will then be squeezed for every last penny. Can't believe people still fall for this one.

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Im in process of buying house. Same think they really wanted me use there advisor. Had to get nasty and say no about four times.I got the feeling they just wanted to bump the selling price up. I put my offer in . They said they wanted more and just walked away. Week later they accepted. Got it 4k less than 2005. Nothing signed yet. And yes its a place I want live in

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One major reason EAs want you to talk to their mortgage advisors is because that way they know exactly the maximum you can afford to pay. This is especially true of FTBs. You will then be squeezed for every last penny. Can't believe people still fall for this one.

Will depend on the FTBs IMO. Daughter and BF are pretty hard-nosed - they were not squeezed and got their house for quite a bit less than the AP, and for a smaller mortgage than they could have got. It was a case of take the offer or leave it, and they meant it.

I would guess that EAs are pretty practised at sizing people up and will soon work out who will be easily squeezed/bullied and who will not.

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Thank you for the tip. I'm not planning on walking into an EAs office until I'm completely wised up, this is another of those little snippets of information that make the difference between service and exploitation.

And it's another example of one of the most fundamental things that are wrong with housing that makes it function as a pyramid scheme rather than a market.

FTB's are the ones who are conned into funding the inflation. Yes it is their decision, but based on misinformation and misguidance.

It is the fact that FTBs are the only ones in the chain who do not have a professional on their side.

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One major reason EAs want you to talk to their mortgage advisors is because that way they know exactly the maximum you can afford to pay. This is especially true of FTBs. You will then be squeezed for every last penny. Can't believe people still fall for this one.

My experience was that the 'in house advisors' sat in a different group company. However they often reside in the same office. One particular agent shouted across he can pay x.

Personally I do not see the point of most estate agents. The worse ones leave the sellers to do their own viewings. Even then when you go out on a visit I get insights such as ' this is a cupboard, these are stairs'.

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My experience was that the 'in house advisors' sat in a different group company. However they often reside in the same office. One particular agent shouted across he can pay x.

Personally I do not see the point of most estate agents. The worse ones leave the sellers to do their own viewings. Even then when you go out on a visit I get insights such as ' this is a cupboard, these are stairs'.

You can do that at market peaks, or into forever HPI, with 'victims/innocents' pushing and falling over each other to pay ever higher ludicrous prices. Why not take it easy as an EA when some mug will pay ever higher price, and others will be readying excuses for them if market softens. In this market, I don't wanna hear about conned 'uneducated 25 year olds' who are outbidding my family for houses. They can foad. It's a market you *******s. Not renter-savers carry everyone who deserves/entitlement for house at stupid insane prices.

The first minute of this movie.... looks like a Greenwich London prime road to me, filmed in peak 1988; HPI spreadsheet victims.

EA (Gary Oldman) - Well it’s 1935 or thereabouts. It was bombed during the war and patched up with plasticine and blu-tack. The interior guttering is a unique feature which is caused by the raging damp, but Lattimer and Haynes are supplying windscreen wipers for your television set, you got otter traps in the cellar and a free-aqualand course at the local tech college. Well I’m not saying it’s damp of course but if the water levels rise any more you could find yourself selling a house-boat in a couple of years.
Edited by Venger

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Will depend on the FTBs IMO. Daughter and BF are pretty hard-nosed - they were not squeezed and got their house for quite a bit less than the AP, and for a smaller mortgage than they could have got. It was a case of take the offer or leave it, and they meant it.

I would guess that EAs are pretty practised at sizing people up and will soon work out who will be easily squeezed/bullied and who will not.

wot, people putting pressure, advantages, pitching why their argument for not buying is wrong?

would never happen,,,Its all the fault of the buyer dontchaknow.

Ive been waiting for an HPC since 2002, but its never happened because gullible buyers have made up their own narrative on spreadsheets that not buying is simply out of the question.

They ignored the pleas from their bankers that they couldnt afford it...They ignored the pleas from family to hold off...they ignored the pleas from the Media not to buy because they wont make any money, ever, its just wont happen....they ignored the Government pleas to dont get on a key worker scheme, not to partake in shared ownership...

All these forces pleading with buyers to NOT buy, yet they still did.

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A certain countrywide-associated EA tried to pull that one on me in KT6 a few weeks back. When registering, the conversation took an odd turn whereby all of a sudden it was all about my mortgage and what I could afford rather than what they had in the books worthwhile seeing. It became increasingly irritating by the minute. She did not want to take no for an answer. It went along these lines:

EA: "Do you have a mortgage in place?"

me: "I have a mortgage advisor and I know what my budget is."

EA: "do you have a decision in principle?"

me: "no, I do not need one. We'll file the application the day my offer has gone through."

EA: "Meet Ms XYZ, our advisor" - she came from around the corner, apparently sits with them.

exchanging pleasantries.

EA: "I suggest you discuss with Ms XYZ, she is VERY good".

me: "I am sure she's good but I have my own advisor already. Thank you for your interest".

being given her card.

me: "Thanks, but I won't be needing it."

EA: "She can get you the best rates on the market."

me: "Sure she can. But my advisor has access to the whole market, so I won't be needing your advise".

EA insists how good Ms XYZ is.

me getting increasingly fed up. Oddly enough, the EA did not even focus on completing my registration.

a few sentences later:

me: "Please do not talk me into something I do not want."

EA now getting pushy even suggesting "if I were to make an offer without the in-house services, I would be disadvantaged".

me: "this conversation has come to an end. Good day". And I walked out.

Unfortunately, no other customer was in the branch, otherwise I would have cited the code of practice which they were just bending.

But in fairness, this was the only EA out of 20+ that tried to pull that trick on me. When I got home, I was laughing when I was rubbish they were trying to flog. :-) That made my day :-)

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A certain countrywide-associated EA tried to pull that one on me in KT6 a few weeks back. When registering, the conversation took an odd turn whereby all of a sudden it was all about my mortgage and what I could afford rather than what they had in the books worthwhile seeing. It became increasingly irritating by the minute. She did not want to take no for an answer. It went along these lines:

EA: "Do you have a mortgage in place?"

me: "I have a mortgage advisor and I know what my budget is."

EA: "do you have a decision in principle?"

me: "no, I do not need one. We'll file the application the day my offer has gone through."

EA: "Meet Ms XYZ, our advisor" - she came from around the corner, apparently sits with them.

exchanging pleasantries.

EA: "I suggest you discuss with Ms XYZ, she is VERY good".

me: "I am sure she's good but I have my own advisor already. Thank you for your interest".

being given her card.

me: "Thanks, but I won't be needing it."

EA: "She can get you the best rates on the market."

me: "Sure she can. But my advisor has access to the whole market, so I won't be needing your advise".

EA insists how good Ms XYZ is.

me getting increasingly fed up. Oddly enough, the EA did not even focus on completing my registration.

a few sentences later:

me: "Please do not talk me into something I do not want."

EA now getting pushy even suggesting "if I were to make an offer without the in-house services, I would be disadvantaged".

me: "this conversation has come to an end. Good day". And I walked out.

Unfortunately, no other customer was in the branch, otherwise I would have cited the code of practice which they were just bending.

But in fairness, this was the only EA out of 20+ that tried to pull that trick on me. When I got home, I was laughing when I was rubbish they were trying to flog. :-) That made my day :-)

Wrong reaction.

Get them to put their balls on the line.

Say:

I have an offer. I believe it is the best I can get.

If your offer is better than mine then I will gift you the difference.

If it is not then you, personally, will pay me double the difference. Cash

Do you agree to this. Yes or No.

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By walking away - no matter how amusing you think it is later - you are opening yourself to be laughed at by the EA - 'Ooh what an idiot/funny fcker'.

To get revenge, you need to make sure you prove they are an idiot and/or crook, And that they know they are an idiot and/or crook.

And that they suffer by losing face and money.

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@spyguy

I am not in the business to take revenge. You should have seen the EA, a miserable and desperate old ***. Probably being told by HQ to push this stuff... and one being in one's late 50s (well, she could have been 50 but looked more like 60), who's the loser? :lol:

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@spyguy

I am not in the business to take revenge. You should have seen the EA, a miserable and desperate old ***. Probably being told by HQ to push this stuff... and one being in one's late 50s (well, she could have been 50 but looked more like 60), who's the loser? :lol:

But it tastes sooo good.

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