I'm dismissing my agent today (he received notice two weeks ago). As
of tomorrow I have a different one. Yet out of the blue I get a call
this afternoon from the current agent only a couple of hours or so
before close of business to say that they would like to arrange a
viewing that has suddenly come up!

Well, the viewers have been (and they spent ages poking into
everything, probably spending the longest of any viewer so far - the
first to actually want to go up into the loft!). Apparently as long as
someone has been referred to the property by the current agent (I
assume up until close of business on the day of expiry of the sole
agency agreement), that - henceforth former - agent gets the
commission if the viewer does go ahead and buy the property, even if
the viewer took a week or so to make a decision.

What I'm not quite sure of is, the property will be on at a lower
price with the new agent. Am I supposed to inform the viewer of that
(if he does put in an offer)? In other words, he will probably see the
property on with the new agent as of tomorrow or Monday and won't want
to pay the current asking price if the new price is lower. However, he
was referred to the property via the current agent at the higher
price.

In any case, I don't expect any offer anyhow, so it's all rather
academic, really. I couldn't get more disillusioned.

MM

On Fri, 18 Jun 2004 20:07:34 +0100, Mike Mitchell
wrote:

I'm dismissing my agent today (he received notice two weeks ago). As
of tomorrow I have a different one. Yet out of the blue I get a call
this afternoon from the current agent only a couple of hours or so
before close of business to say that they would like to arrange a
viewing that has suddenly come up!

Well, the viewers have been (and they spent ages poking into
everything, probably spending the longest of any viewer so far - the
first to actually want to go up into the loft!). Apparently as long as
someone has been referred to the property by the current agent (I
assume up until close of business on the day of expiry of the sole
agency agreement), that - henceforth former - agent gets the
commission if the viewer does go ahead and buy the property, even if
the viewer took a week or so to make a decision.

What I'm not quite sure of is, the property will be on at a lower
price with the new agent. Am I supposed to inform the viewer of that
(if he does put in an offer)? In other words, he will probably see the
property on with the new agent as of tomorrow or Monday and won't want
to pay the current asking price if the new price is lower. However, he
was referred to the property via the current agent at the higher
price.

In any case, I don't expect any offer anyhow, so it's all rather
academic, really. I couldn't get more disillusioned.

MM

Sir

Which ever agent the viewer approaches to make an offer is the one you
work through, and the one that gets the commission.

If they are sensible they will go to the lower priced agent, if not
your existing agent can convice them the house is worth the higher
price. You can always make up some bull about the lower price not
including certain items (shed, cooker, bath etc .......)

Rick

"Mike Mitchell" wrote
| Apparently as long as someone has been referred to the property
| by the current agent (I assume up until close of business on
| the day of expiry of the sole agency agreement), that -
| henceforth former - agent gets the commission if the viewer
| does go ahead and buy the property, even if the viewer took
| a week or so to make a decision.
| What I'm not quite sure of is, the property will be on at a lower
| price with the new agent. Am I supposed to inform the viewer of that
| (if he does put in an offer)? In other words, he will probably see the
| property on with the new agent as of tomorrow or Monday and won't want
| to pay the current asking price if the new price is lower. However, he
| was referred to the property via the current agent at the higher
| price.

If the sale progresses towards conclusion and the viewer only finds out
'second-hand' that it is being advertised at a lower price, he might be
rather less than impressed and take the viewpoint that if you have (from his
viewpoint) been playing silly beggars he can do the same and do one of those
'wait until the day before completion then ask for another £5 off' haggles.

I'd be upfront with him, tell him you're now inviting offers around a new
lower marketing price (as Rick suggests, because you're no longer including
certain things in the sale, no need to sound desperate). Hopefully he will
make an offer and, because the sale price is lower, that former estate agent
is going to get a bit less in commission (it should be %age of the actual
realised price, not the marketing price) than he was expecting, which will
serve him right for not pulling finger out earlier on.

Owain

On Fri, 18 Jun 2004 23:02:36 +0100, "Owain"
wrote:

"Mike Mitchell" wrote
| Apparently as long as someone has been referred to the property
| by the current agent (I assume up until close of business on
| the day of expiry of the sole agency agreement), that -
| henceforth former - agent gets the commission if the viewer
| does go ahead and buy the property, even if the viewer took
| a week or so to make a decision.
| What I'm not quite sure of is, the property will be on at a lower
| price with the new agent. Am I supposed to inform the viewer of that
| (if he does put in an offer)? In other words, he will probably see the
| property on with the new agent as of tomorrow or Monday and won't want
| to pay the current asking price if the new price is lower. However, he
| was referred to the property via the current agent at the higher
| price.

If the sale progresses towards conclusion and the viewer only finds out
'second-hand' that it is being advertised at a lower price, he might be
rather less than impressed and take the viewpoint that if you have (from his
viewpoint) been playing silly beggars he can do the same and do one of those
'wait until the day before completion then ask for another £5 off' haggles.

I'd be upfront with him, tell him you're now inviting offers around a new
lower marketing price (as Rick suggests, because you're no longer including
certain things in the sale, no need to sound desperate). Hopefully he will
make an offer and, because the sale price is lower, that former estate agent
is going to get a bit less in commission (it should be %age of the actual
realised price, not the marketing price) than he was expecting, which will
serve him right for not pulling finger out earlier on.

But what if the viewer did make an offer on the basis of the lead he
followed up, namely the one with the (as of today) ex-agent? That
offer would be based on the price advertised with the ex-agent!

Therefore, as far as both the ex-agent and the putative buyer are
concerned, the price as of the viewing was X pounds.

The fact that as of today (or whenever, probably Monday, the new agent
starts advertising the property) the price will be Y pounds, i.e.
several thousand lower. So what happens if the viewer decides not to
make an offer, unaware that the property is shifting from one agento
to another, but then sees the property on with the new agent in, say,
a week's time? As far as the viewer is concerned, this time he is
coming to view based on the advertised price of Y pounds via the new
agent!

Basically, I think it's daft that the rule exists whereby ANY lead
guarantees an ex-agent the commission if that agent handled the
initial enquiry. I would suggest that it is a lot less hassle all
round, and as you say, a kick up the rear for agents that did not
perform, if leads would be honoured *only* via the *current* agent (or
agents in the case of multiple agencies).

What about the situation where a viewer views a property, and then
views it again six months later?!! Does the original (long since
forgotten about) former agent *still* get the commission?

MM

On Sat, 19 Jun 2004 10:52:10 +0100, Nige wrote:

In uk.d-i-y, Mike Mitchell wrote:

Yet out of the blue I get a call
this afternoon from the current agent only a couple of hours or so
before close of business to say that they would like to arrange a
viewing that has suddenly come up!

Yeah, right. This is trick number 15 in the book of tricks.

How do you mean? There *was* a viewer! An extended family, in fact.
They came and viewed at the appointed time, and in fact spent longer
than any previous viewer.

MM

"Mike Mitchell" wrote in message
news
Yeah, right. This is trick number 15 in the book of tricks.

How do you mean? There *was* a viewer! An extended family, in fact.
They came and viewed at the appointed time, and in fact spent longer
than any previous viewer.

What the hell do you care who gets what. Offer them the reduced rate as
you were happy enough to agree to it with the new agent. Problem solved.

Hang on to the new agent until he yoo fails you and get another useless
winker. It's just the beginning of the chain. Wait until you get to
start gazzumping and sjid.



--
Posted via Mailgate.ORG Server - http://www.Mailgate.ORG

"Mike Mitchell" wrote
| Yet out of the blue I get a call
| this afternoon from the current agent only a couple of hours
| or so before close of business to say that they would like
| to arrange a viewing that has suddenly come up!
| Yeah, right. This is trick number 15 in the book of tricks.
| How do you mean? There *was* a viewer! An extended family, in fact.
| They came and viewed at the appointed time, and in fact spent longer
| than any previous viewer.

"Yes well they would wouldn't they"

It might be interesting to ask if they have a property to sell, and which
agent it is with, and what other properties they have viewed, or whether
they were just a handful of people the estate agent rounded up at the bus
station and bribed them with a free cornetto.

Owain

"Mike Mitchell" wrote
| But what if the viewer did make an offer on the basis of the lead he
| followed up, namely the one with the (as of today) ex-agent? That
| offer would be based on the price advertised with the ex-agent!

What he's actually going to offer will be based on what mortgage he can
afford and what the b/soc's valuation surveyor values the house at, and what
he thinks he can get away with.

| What about the situation where a viewer views a property, and then
| views it again six months later?!! Does the original (long since
| forgotten about) former agent *still* get the commission?

There should be a time limit on the agent's eligibility for commission, in
the contract.

Owain

On Sat, 19 Jun 2004 14:02:27 +0100, "Owain"
wrote:

"Mike Mitchell" wrote
| Yet out of the blue I get a call
| this afternoon from the current agent only a couple of hours
| or so before close of business to say that they would like
| to arrange a viewing that has suddenly come up!
| Yeah, right. This is trick number 15 in the book of tricks.
| How do you mean? There *was* a viewer! An extended family, in fact.
| They came and viewed at the appointed time, and in fact spent longer
| than any previous viewer.

"Yes well they would wouldn't they"

It might be interesting to ask if they have a property to sell, and which
agent it is with, and what other properties they have viewed, or whether
they were just a handful of people the estate agent rounded up at the bus
station and bribed them with a free cornetto.

Why would the agent incur even more costs? He's already lost out to
the tune of several hundred pounds, probably. The cost of the initial
consulation (two partners), measuring up, photographs taken, proofs
printed, corrected, reprinted, adverts in local paper and on RightMove
and Vebra, cost of office space and secretarial staff, petrol for the
negotiator to attend viewing, erection of sign. In fact, it can't be
much fun being an estate agent. I think I'll pop down on Monday and
offer them all a free cornetto!

MM

On Sat, 19 Jun 2004 16:46:11 +0100, Nige wrote:

In uk.d-i-y, Mike Mitchell wrote:

Yeah, right. This is trick number 15 in the book of tricks.

How do you mean? There *was* a viewer!

I'm probably being cynical, but it seems too much of a coincidence.

It's very easy to find someone who can't afford your house, send them
round after saying "the seller may take a much lower offer".

Exactly. The erstwhile agent has little to lose since he's on his
way out anyway. On the offchance that an offer was accepted hw
would get something, even though his commission would be reduced a
bit. Better that from his point of view than nothing.



..andy

To email, substitute .nospam with .gl

Hang about!

" Apparently as long as
someone has been referred to the property by the current agent (I
assume up until close of business on the day of expiry of the sole
agency agreement), that - henceforth former - agent gets the
commission if the viewer does go ahead and buy the property, even if
the viewer took a week or so to make a decision."

I think that the agent is entitled to a commission on a sale to a
purchaser that he has 'introduced'. I think that's the usual wording,
but it's a long time since I've bought a house. RTFM, I think, or the
contract in this case.



"What I'm not quite sure of is, the property will be on at a lower
price with the new agent."

If you sign up to a sole agency agreement with the new agents, then
their contract will entitle them to a commission on ANY sale, agreed
in the duration of the contract. In other words, if you sell to these
new viewers, you could wind up owing a commission to both agents,
whether at the original or the reduced price. RTFC again.



" I couldn't get more disillusioned."

Oh yes you can!

Good luck.