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A good estate agent will match properties to buyers as they come on their books, so if you do leave your details with them and tell them the type of property you want, then if they are doing a good job you can bag viewings before they get more widely advertised. I got my first house this way, estate agent called me to say this property had just come onto their books and it matched what I had told them I was looking for, I arranged a viewing that day and made an offer which was accepted the next day, all before it was even listed on their website or rightmove etc. The seller was over the moon that they had a buyer so quickly and I was too because I had found precisely what I was looking for thanks to a good estate agent. I used the same agent when I sold the place 3 years later and they were equally as good and the house was sold very quickly.
Thank you for the reply. I did not make it clear. I gave them my basic details i.e. my deposit and AIP amount … but they wanted me to use their in-house mortgage advisor in return for being put on ‘the list’
Scam, or at least a pushy sales tactic. They get a lot of kick back from the in house mortgage advisor.
Personally if was selling I wouldn't go near an agent like this. You want to cast the net wide not be a chip in the agents mortgage game
Respectfully decline.
EA here, it can go either way. Sometimess clients will turn down the pre market offer, and once they've tested the market (and not sold or had much of a reaction) they end up selling for less than the original offer as they lose all leverage
We accepted the first offer on ours as we wanted to reserve a new build. We had an agreed number between us that if someone offered, we would accept immediately. The extra 5k would have meant not selling at all because the plot we got was the last one, and they were going fast.
We told this number to all viewers, and the first offer was for exactly that. There's a lot of reasons why someone would accept the first offer. Life isn't all about making as much money as possible, especially if it means forfeiting your dream home
Nowadays you won’t have an offer accepted till you’ve sold your place, so if you’ve found somewhere then the priority is selling your place, if you get the right offer then you can proceed.
But if you wait around then you risk losing your onward purchase.
That doesn’t change this scenario, in fact it’s more likely in an area where there is high demand as the vendor has other options and doesn’t have to wait for long for you to sell your place
You want a fast sale to secure your onward purchase before someone else swoops in.
Where I’m buying estate agents can get 5 viewings in one morning within days of going on the market. In that scenario why would they only arrange 1 viewing instead of 5?
They are trying to scam you for commission. It's extremely common and it's illegal. They cannot force you to talk to their own advisors and they have to pass on any offer you make. Your offer letter from a lender is as valid as theirs.
As for selling early, it happens. I was told by someone who works at an estate agent that they have a list of investors with cash. Any property they get that seems like the type these big landlords buy would be offered to them first to try and get a quick cash sale and move the property on quickly so they get paid. Of course it's a scummy tactic and it affects the seller and legitimate buyers, but I know for a fact it happens.
very high, Rightmove costs money (both residential and commercial) so if they can sell without they absolutely will. Most good agents will get a list of clients who are looking, that way when they go to a vendors house to value they will tell them if they give the house to them they can have 5 people here for a viewing in 3 days.
Rightmove charges a monthly subscription so it doesn't actually make a difference to an agent's cost advertising off market. Having a database of buyers certainly helps though.
This will depend on the agent. Used to be a software engineer at a large estate agents who were in a position to negotiate bespoke rate cards with the main property portals. The contracts with the portals would typically give us 2 days or so exclusivity before we were obligated to push a new instruction through the API and then that would trigger one aspect of the contract pricing. So there was a financial incentive to try and let/sell the property without it reaching the portals.
Happened to me as a seller. EA came round to value it, the next day before photos were done they had an enquiry that matched my property. They viewed off market and eventually we came to an agreement on price.
We contacted an estate agent and asked for a soft launch only, ie they took photos and made floor plans but didn’t list it anywhere. I showed the house to their list/relevant buyers and we ended up selling that way. We didn’t want our house to be online and for neighbours to see it (even though it was lovely!). They managed to get us a pretty high offer (and all we really needed to get the house we wanted to buy). We probably could’ve gotten slightly more if we had listed it online but we were happy with what we got. Not sure if my experience is common, but it definitely does happen!
The house I bought was like that. But weirdly it went on Rightmove as sold STC a month later. Maybe they were worried about us backing out (AFAIK there weren’t any more viewings), or maybe they were just using it to advertise that they had similar stuff.
Pretty common, especially if the property is a "problem" property, short lease, quick sale falling to bits etc, I would say most of these go to the investors who can pay cash and only hit rightmove if there is no interest.
Definitely happened when I was selling, our agent had a set of buyers to view before it even went on rightmove. Worth being registered with the big agencies in the area (I.e the ones that sell the most).
I had half a dozen viewings booked in for my flat before the listing even went live. It was more from a logistical standpoint - I instructed them on a Thursday and needed the weekend to tidy the place, with the photographer booked in for the next Monday. I wanted to move quickly so if I’d received an offer then I likely would’ve accepted it before it made it on rightmove.
I was out house viewing about 5 years ago and had 2 viewings booked in on a Saturday. I think after the first viewing we received a call of the estate agents stating a house in the area was going up the following week which met our needs.
We viewed it within a few hours of the call and ended up making a offer after a second viewing on Monday. House went up as STC.
For me it was useful to be able to ask any questions we thought of after we left and also to see the house at a different time of day so we could get to know the area.
Most importantly it gave us a second chance to make an impression on the sellers. For our dream house we weren’t the highest bidders at best and final. They went with someone else on the agent’s advice but made it clear we were the preferred buyers. When the buyers became difficult they came straight to us despite having higher offers because they wanted the house to stay a family home.
My last house: I put an offer in, that was accepted, before the estate agent had time to list it.
Instead of relying on the Internet like the other weak minded muppets out there, I simply phoned the estate agent one morning and snapped up a bargain.
Happens all the time. Loads of sellers don't want hundreds of random people wandering through their home or pictures of the inside of their house online and want a private sale.
More common than you think. Many estate agents will know people that are looking for a similar property to the one you are selling and thus will have buyers that are keen to view properties. Getting a property on zoopla or RM can take a while since a photographer has to be organised, then it has to go on the site, weekend adds delay etc. can take up to a week+ Where as you may have already had several viewings and even offers by then.
My parents house sold the day before the photographer came to take the pictures, they had 5 viewings in one day and got 2 offers out of it
They came for photos and during the photos, said they had someone who wanted to view right now if we were open to that... we sold it to them (before liz truss crashed it all) and then we sold it again immediately. That agent was really good! Local one too, not a national chain.
You don’t want to accept an agent’s or seller’s solicitors/advisors. _Always_ use your own who is independent from any one connected to the sale. If you use the agent’s then they’re going to be working for the agent, not you.
I bought my property before it went online- properties were in such high demand it was the only way. I didn’t need to speak to their mortgage advisor though, that’s slightly shady.
I bought my house before it got to rightmove or zoopla. Some of the local estate agents operate first contact lists if you leave your details with them.
As for mortgage advisors, majority don’t charge for their introduction appointment, and you won’t be locked into anything. So depends on if you have one or not whether it’s worth speaking to one for you.
Two of our local estate agents promoted their discrete sales process as a specific service and would send "dear occupier" letters about it periodically.
When I bought my first house, I had looked at lots but there was always something I had to compromise on. After another unsuccessful viewing, we got back to the office as a new seller was about to be processed ( literally minutes since contact ). We were viewing the house 15 minutes after seller’s first contact with EA. It WAS THE ONE. Offered the seller the full price he was going to ask for. Moved in just under 6 weeks later. I was a cash buyer. EA said it was the fastest sale he had ever heard of. Loved that house
Mortgage advisor here.
It’s a pain talking to that in house mortgage advisor but it will probably get you on a list of qualified buyers like the agent is saying and mean you are shown those properties
Nothing to stop you speaking to the advisor, giving your details and then using the advisor of your choice to actually proceed but be prepared for the hard sell, this is what I tell my clients to do!
Just make sure they think you are considering using their advisor so that they treat your offer as favourably as possible
Essentially play them at their own game!
That’s what I told them: If my offer is accepted by the vendor I will be happy to discuss with their in-house advisor to see if they can find a better mortgage deal.
Thats not the same thing
That’s you saying you might consider using them if they have a better deal
If you have an appointment with them before being shown or finding a property through them then they will think there is a higher chance you will use their advisor eventually and you will get on that list
They will also know that the amount you say you can afford is accurate as they will trust their in house broker more, that can be a good and bad thing though as they will know if you can afford more than you are offering
It’s not fair or transparent but by giving up a little more information you can get a slight advantage over those that won’t
That’s only useful if you are in an area where competition for properties is high though
That’s exactly what they want. To be honest I feel like that if I do as what they want , I would have to do the same (giving my financial details) with ~5 other agents. It’s really a messed up system. I’m happy to wait for those to be listed on rightmove
100% of the properties I “got” to see before they came on to Rightmove were 100% wrong for me despite being exceedingly clear on what I want.
Depends on where you are though and what your housing market is like locally I’d say. Most of the properties where I was were on the market for a minimum of a few weeks, some longer
It’s Estate Agent speak for not a lot. They tell you that you get first access to the property and also tell sellers that they have investors lined up (you as an example). It’s a sales tactic but down at change much in the sales process.
###Welcome to /r/HousingUK --- **To All** * Join Our ***NEW*** Discord! https://discord.gg/pMgUNgWKQH **To Posters** * *Tell us whether you're in England, Wales, Scotland, or NI as the laws/issues in each can vary* * Comments are not moderated for quality or accuracy; * Any replies received must only be used as guidelines, followed at your own risk; * If you receive *any* private messages in response to your post, [please let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=I received a PM); * If you do not receive satisfactory advice after 72 hours, [you can let the mods know](https://www.reddit.com/message/compose?to=%2Fr%2FHousingUK&subject=My question is unanswered); * Feel free to provide an update at a later time by creating a new post with [[update]](https://www.reddit.com/r/HousingUK/search?q=%3Aupdate&sort=new&restrict_sr=on&t=all) in the title; **To Readers and Commenters** * All replies to OP must be *on-topic, helpful, and civil* * If you do not [follow the rules](https://www.reddit.com/r/HousingUK/about/rules/), you may be banned without any further warning; * Please include links to reliable resources in order to support your comments or advice; * If you feel any replies are incorrect, explain why you believe they are incorrect; * Do not send or request any private messages for any reason without express permission from the mods; * Please report posts or comments which do not follow the rules *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/HousingUK) if you have any questions or concerns.*
A good estate agent will match properties to buyers as they come on their books, so if you do leave your details with them and tell them the type of property you want, then if they are doing a good job you can bag viewings before they get more widely advertised. I got my first house this way, estate agent called me to say this property had just come onto their books and it matched what I had told them I was looking for, I arranged a viewing that day and made an offer which was accepted the next day, all before it was even listed on their website or rightmove etc. The seller was over the moon that they had a buyer so quickly and I was too because I had found precisely what I was looking for thanks to a good estate agent. I used the same agent when I sold the place 3 years later and they were equally as good and the house was sold very quickly.
Thank you for the reply. I did not make it clear. I gave them my basic details i.e. my deposit and AIP amount … but they wanted me to use their in-house mortgage advisor in return for being put on ‘the list’
Scam, or at least a pushy sales tactic. They get a lot of kick back from the in house mortgage advisor. Personally if was selling I wouldn't go near an agent like this. You want to cast the net wide not be a chip in the agents mortgage game Respectfully decline.
Why would anyone accept the first offer though? It’s in the estate agent and sellers best interest to build up demand
some people just want an easy and quiet life.
With no alarms and no surprises
People who come in with stupidly high offers are often ones that can’t afford it and will get their mortgage application denied
Such a pretty house.
I've accepted the first offer on all 3 properties I've sold in my time, if it was within what you wanted why wouldn't you accept the first offer?
EA here, it can go either way. Sometimess clients will turn down the pre market offer, and once they've tested the market (and not sold or had much of a reaction) they end up selling for less than the original offer as they lose all leverage
We accepted the first offer on ours as we wanted to reserve a new build. We had an agreed number between us that if someone offered, we would accept immediately. The extra 5k would have meant not selling at all because the plot we got was the last one, and they were going fast. We told this number to all viewers, and the first offer was for exactly that. There's a lot of reasons why someone would accept the first offer. Life isn't all about making as much money as possible, especially if it means forfeiting your dream home
Nowadays you won’t have an offer accepted till you’ve sold your place, so if you’ve found somewhere then the priority is selling your place, if you get the right offer then you can proceed. But if you wait around then you risk losing your onward purchase.
Maybe just where I’m looking there’s high demand
That doesn’t change this scenario, in fact it’s more likely in an area where there is high demand as the vendor has other options and doesn’t have to wait for long for you to sell your place You want a fast sale to secure your onward purchase before someone else swoops in.
Where I’m buying estate agents can get 5 viewings in one morning within days of going on the market. In that scenario why would they only arrange 1 viewing instead of 5?
We’re talking offers not viewings - you said why would they accept the first offer. Where I live 8 viewings is average, 5 isn’t a lot.
They are trying to scam you for commission. It's extremely common and it's illegal. They cannot force you to talk to their own advisors and they have to pass on any offer you make. Your offer letter from a lender is as valid as theirs. As for selling early, it happens. I was told by someone who works at an estate agent that they have a list of investors with cash. Any property they get that seems like the type these big landlords buy would be offered to them first to try and get a quick cash sale and move the property on quickly so they get paid. Of course it's a scummy tactic and it affects the seller and legitimate buyers, but I know for a fact it happens.
Thank you for reading my comment and your insight
very high, Rightmove costs money (both residential and commercial) so if they can sell without they absolutely will. Most good agents will get a list of clients who are looking, that way when they go to a vendors house to value they will tell them if they give the house to them they can have 5 people here for a viewing in 3 days.
Rightmove charges a monthly subscription so it doesn't actually make a difference to an agent's cost advertising off market. Having a database of buyers certainly helps though.
This will depend on the agent. Used to be a software engineer at a large estate agents who were in a position to negotiate bespoke rate cards with the main property portals. The contracts with the portals would typically give us 2 days or so exclusivity before we were obligated to push a new instruction through the API and then that would trigger one aspect of the contract pricing. So there was a financial incentive to try and let/sell the property without it reaching the portals.
Happened to me as a seller. EA came round to value it, the next day before photos were done they had an enquiry that matched my property. They viewed off market and eventually we came to an agreement on price.
Matching buyers to sellers is exactly what an “agent” does
We contacted an estate agent and asked for a soft launch only, ie they took photos and made floor plans but didn’t list it anywhere. I showed the house to their list/relevant buyers and we ended up selling that way. We didn’t want our house to be online and for neighbours to see it (even though it was lovely!). They managed to get us a pretty high offer (and all we really needed to get the house we wanted to buy). We probably could’ve gotten slightly more if we had listed it online but we were happy with what we got. Not sure if my experience is common, but it definitely does happen!
Don't go with their in house mortgage advisor. They are usually really crap and it's actually illegal for them to push you into using them
The house I bought was like that. But weirdly it went on Rightmove as sold STC a month later. Maybe they were worried about us backing out (AFAIK there weren’t any more viewings), or maybe they were just using it to advertise that they had similar stuff.
As well as your last point, the EA will do that to get included the market share stats on rightmove.
This seems crazy, as a seller you surely want as many people as possible to see the house to get the best price.
Pretty common, especially if the property is a "problem" property, short lease, quick sale falling to bits etc, I would say most of these go to the investors who can pay cash and only hit rightmove if there is no interest.
Definitely happened when I was selling, our agent had a set of buyers to view before it even went on rightmove. Worth being registered with the big agencies in the area (I.e the ones that sell the most).
I had half a dozen viewings booked in for my flat before the listing even went live. It was more from a logistical standpoint - I instructed them on a Thursday and needed the weekend to tidy the place, with the photographer booked in for the next Monday. I wanted to move quickly so if I’d received an offer then I likely would’ve accepted it before it made it on rightmove.
I was out house viewing about 5 years ago and had 2 viewings booked in on a Saturday. I think after the first viewing we received a call of the estate agents stating a house in the area was going up the following week which met our needs. We viewed it within a few hours of the call and ended up making a offer after a second viewing on Monday. House went up as STC.
What’s the point in a second viewing a few days later? I’m just starting viewings as a FTB so genuine question
For me it was useful to be able to ask any questions we thought of after we left and also to see the house at a different time of day so we could get to know the area. Most importantly it gave us a second chance to make an impression on the sellers. For our dream house we weren’t the highest bidders at best and final. They went with someone else on the agent’s advice but made it clear we were the preferred buyers. When the buyers became difficult they came straight to us despite having higher offers because they wanted the house to stay a family home.
My last house: I put an offer in, that was accepted, before the estate agent had time to list it. Instead of relying on the Internet like the other weak minded muppets out there, I simply phoned the estate agent one morning and snapped up a bargain.
Happens all the time. Loads of sellers don't want hundreds of random people wandering through their home or pictures of the inside of their house online and want a private sale.
common, but moreso during the pandemic period, not too sure properties sell as quickly now
More common than you think. Many estate agents will know people that are looking for a similar property to the one you are selling and thus will have buyers that are keen to view properties. Getting a property on zoopla or RM can take a while since a photographer has to be organised, then it has to go on the site, weekend adds delay etc. can take up to a week+ Where as you may have already had several viewings and even offers by then. My parents house sold the day before the photographer came to take the pictures, they had 5 viewings in one day and got 2 offers out of it
They came for photos and during the photos, said they had someone who wanted to view right now if we were open to that... we sold it to them (before liz truss crashed it all) and then we sold it again immediately. That agent was really good! Local one too, not a national chain.
You don’t want to accept an agent’s or seller’s solicitors/advisors. _Always_ use your own who is independent from any one connected to the sale. If you use the agent’s then they’re going to be working for the agent, not you.
I bought my property before it went online- properties were in such high demand it was the only way. I didn’t need to speak to their mortgage advisor though, that’s slightly shady.
I bought my house before it got to rightmove or zoopla. Some of the local estate agents operate first contact lists if you leave your details with them. As for mortgage advisors, majority don’t charge for their introduction appointment, and you won’t be locked into anything. So depends on if you have one or not whether it’s worth speaking to one for you.
Two of our local estate agents promoted their discrete sales process as a specific service and would send "dear occupier" letters about it periodically.
When I bought my first house, I had looked at lots but there was always something I had to compromise on. After another unsuccessful viewing, we got back to the office as a new seller was about to be processed ( literally minutes since contact ). We were viewing the house 15 minutes after seller’s first contact with EA. It WAS THE ONE. Offered the seller the full price he was going to ask for. Moved in just under 6 weeks later. I was a cash buyer. EA said it was the fastest sale he had ever heard of. Loved that house
Mortgage advisor here. It’s a pain talking to that in house mortgage advisor but it will probably get you on a list of qualified buyers like the agent is saying and mean you are shown those properties Nothing to stop you speaking to the advisor, giving your details and then using the advisor of your choice to actually proceed but be prepared for the hard sell, this is what I tell my clients to do! Just make sure they think you are considering using their advisor so that they treat your offer as favourably as possible Essentially play them at their own game!
That’s what I told them: If my offer is accepted by the vendor I will be happy to discuss with their in-house advisor to see if they can find a better mortgage deal.
Thats not the same thing That’s you saying you might consider using them if they have a better deal If you have an appointment with them before being shown or finding a property through them then they will think there is a higher chance you will use their advisor eventually and you will get on that list They will also know that the amount you say you can afford is accurate as they will trust their in house broker more, that can be a good and bad thing though as they will know if you can afford more than you are offering It’s not fair or transparent but by giving up a little more information you can get a slight advantage over those that won’t That’s only useful if you are in an area where competition for properties is high though
That’s exactly what they want. To be honest I feel like that if I do as what they want , I would have to do the same (giving my financial details) with ~5 other agents. It’s really a messed up system. I’m happy to wait for those to be listed on rightmove
100% of the properties I “got” to see before they came on to Rightmove were 100% wrong for me despite being exceedingly clear on what I want. Depends on where you are though and what your housing market is like locally I’d say. Most of the properties where I was were on the market for a minimum of a few weeks, some longer
It’s Estate Agent speak for not a lot. They tell you that you get first access to the property and also tell sellers that they have investors lined up (you as an example). It’s a sales tactic but down at change much in the sales process.