Legitimate Offer Rejected by Estate Agent

O

oblivion

Guest
I'm not sure if this is against the unwritten moral code of estate agents but I was suprised recently when my wife and I bid on a home we looked at & loved and the bid was turned down by the estate agent saying it was unreasonable.

The 'guide price' was 300K and we offered 285K since our threshold wasn't too far off the asking price and didn't want to start the bidding too high. We we're the first offer in by the way (and FTBs as well, fyi).

Anyway, the estate agent said she couldn't accept that offer and reminded me the guide price was 300K. I said I realised what the guide price was but explained basically what I said above.

Now, correct me if I'm wrong but I would have thought I could put a bid of 1 Euro on a home if I wanted albeit knowing I was going to lose the house to the next bidder or have my offer rejected by the HOMEOWNER whose job it is to do things of that nature.

This all happened on a home in the Cork suburbs in the last few weeks. Due to the unwritten moral code I live my life by I won't name the estate agent or her employer but all in all, I wasn't impressed by her behaviour throughout much of the time we we're dealing with her.
 
Had a slightly different experience also in Cork about 18 months ago. Put a bid in which I found out subsequently was higher than the offer that was accepted, from the bit of research I did I think the house was sold to a mate of the Ea
 
Bloody hell...makes me want to start my own estate agents that promises to treat people fairly and offers something more than a shred of customer service.
 
You could always call to the house and speak to the vendors yourself. Probably not recommended by estate agents, but it's not like it's against the law. The vendors have a right to know what's going on - they're paying the EA after all.
 
oblivion said:
I'm not sure if this is against the unwritten moral code of estate agents but I was suprised recently when my wife and I bid on a home we looked at & loved and the bid was turned down by the estate agent saying it was unreasonable.

The 'guide price' was 300K and we offered 285K since our threshold wasn't too far off the asking price and didn't want to start the bidding too high. We we're the first offer in by the way (and FTBs as well, fyi).

Anyway, the estate agent said she couldn't accept that offer and reminded me the guide price was 300K. I said I realised what the guide price was but explained basically what I said above.

.
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So many factors you may not be taking nto account...
The EA could have been clearly instructed not to go below 300k
The EA may have had a 285 or 290 offer previously refused by the vendors.
Maybe the price had been dropped to 300k and as such is an absolute min.
I doubt the EA was holding out for the extra 15,000 for their own agenda ( say1%= 150 e difference) could be less!!
An offer of 15k less than the asking has every right to be refused in my opinion as I point out the 150 e diff would indicate that its not the EAs call...........
Any EA would rather sacrifice the 150e commision personally for a quick sale if they thought the vendor would accept the lower price.
I can just see the posts on the flip side if the EA was pressuring the vendors to sell at the 15k less offer.
Why do you feel that an offer of 5% below the asking price being refused is unfair.
Would you accept a lower offer on your house ? Only if desperate.
Perhaps keep an eye on it they may accept a lower offer if it does not sell in the new year to Spring.
I fail to see apart from maybe a rude phone call what the EA has done wrong. Clearly working to get the extra 15K or so for their client.
 
You have brought up alot of good, rational points monkeyboy. I agree, I think the EA was trying to add a little value to her position as middleman and not waste the homeowner time with offers that they wouldn't' be pleased with.

However, in the interest of full disclosure there was a burnt out car in the car park the day we went to look at the property. We we're hoping it was a once off and could get away with a lower offer (since we did love the property itself and thought the area was up & coming)

However, if the EA was really working for the tenent, wouldn't they have done everything they could have to prevent us from seeing the burnt out car. Throw a tarp over it, cancel the appointment, have it towed, etc.

Again, I think it all comes back to customer service - no matter who you are actually getting paid by.
 
oblivion said:
However, if the EA was really working for the tenent, wouldn't they have done everything they could have to prevent us from seeing the burnt out car. Throw a tarp over it, cancel the appointment, have it towed, etc.

Again, I think it all comes back to customer service - no matter who you are actually getting paid by.
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I in no way mean to be condascending at all, please accept this........ but those suggestions are absoultely crazy!

Why do you feel a burnt out car outside would warrant a 5% lower offer...and throwing a tarp over it??!!
Im sorry, but what makes you think that that is within an EAs remit?

The car also may have been 1st seen by the EA when they arrived to meet you ( not that I feel the EA needs any further defence ) what to do then...........
Stand blocking it in a Basil Fawlty manner?
 
oblivion said:
However, in the interest of full disclosure there was a burnt out car in the car park the day we went to look at the property. We we're hoping it was a once off
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What has that got to do with the original issue? And who knows the reason why the car was burnt - it could simply have been an accident presumably?
 
Ahh CM to be fair.....an accidently burnt out car. Ive smoked behind the wheel but thats stretching it.;)
 
purplealien said:
Where was the house you were looking at - burnt out cars doesnt portray up and coming to me!
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Most "up and coming" estates in dublin have had mre than one car burnt outside them

Personally everywhere I have lived in Dublin right up to now has had this occurance on occasion.
Not one of these areas would I, the gen public or prices of property deem, for want of a better word, to be a slum area.
 
When I was trying to sell recently,(West Dublin)I discovered that prices had softened in the area to the tune of about €15k. Anyway, after dropping the price by €15K, I told my EA that I was not going below that, it would be better off for me to stay put if that was the case.

An investor called to view and the Estate Agent and the EA told him before viewing that I would not go below €360k. Anyway, viewing arranged, house looking like something from a home interior magazine. EA called me after the viewing and told me investor had offered €350K. I was quite annoyed, as the EA had stressed before the viewing that I was not interested in taking less than €360K and not to bother offering less. If I thought he was going to offer €350, I would not have even bothered having the viewing as I was cheesed off with the whole thing by then and just about to take the house off the market.The investor started saying, well this one is on for €358, etc. etc. He obviously thought I was under pressure to move so was just seizing the opportunity. Anyway, EA told the guy to sod off, and came back two days later and offered the €360K. Prices have since softened a bit more in the area, to the point that if the sale does not go thorough - contracts not signed - that I am not bothering selling. Problem being that there is a lot of ex-rentals coming on and because they are in a poor condition are taking less and pushing prices down. The homes in better condition are taking longer to sell because they are asking more.
 
monkeyboy said:
Most "up and coming" estates in dublin have had mre than one car burnt outside them

Personally everywhere I have lived in Dublin right up to now has had this occurance on occasion.
Not one of these areas would I, the gen public or prices of property deem, for want of a better word, to be a slum area.
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I don't doubt you, i'm sure it's the norm for Dublin. But i'm from Cork and this isnt the norm in up and coming estates.
 
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