Do i have to see the agents broker to view or buy a house?
“you HAVE to come and see our broker” ….
I line that seems to be in every agent’s vocabulary at the moment. But is it true?
I have a client, about a year ago. lovely chap. Sold his house with me and really, really liked a property through a local agent.
He rang to view the property as was told he ‘must’ speak to the ‘in house’ broker before he is able to view the property as they need to ‘qualify’ him.
Firstly. Utter crap. I’m sorry, but it is! I told him to leave it and go and put a note through the door of the homeowner and let them know he wants to view their property, but the agent won’t let him until he has seen their broker.
Little to say, he went to post the note, on approaching the door the owner came out and spoke to him, immediately they were shocked and disappointed.
They arranged a time and he went back with his wife and took a look. They loved it, agreed a price there and then and walked away having found their new home.
The seller rang to inform the agent they had agreed a sale to this couple. The agent naturally needed to do checks with ID. So, asked for the gentleman and his wife to attend the office and provide a copy of their ID and was still insistent on them seeing the broker.
Which is utter rubbish, I informed him he could provide details of his broker (that he is already using), provide proof of deposit, a copy of his mortgage agreement in principle or decision in principle and his broker details and this will be suffice. He stuck to his guns and they accepted it.
Its such a shame as without my advice he would have been pressure in to see this broker and its unfair, its unfair on him. He was happy with his rate, happy with his broker so it should be his decision as to who he uses.
There is another story of another local agent refusing to put an offer forward to a homeowner until they had been in to see the broker. Again, another guerrilla tactic that is completely unnecessary and unreasonable. A simple note through the door solved that one too!
So, my advice is, NO you DO NOT have to see the broker in that agent, providing you have the relevant paperwork and details of your broker, the Agent can do their ‘checks’ using this information so do not feel pressured to see a broker at all.
Should you feel pressure, honestly, the golden note works. Simple explain the situation on a bit of paper, put your telephone number and ask the homeowner to call you to discuss, I think you will be surprised where that goes.
Now I’m not condoning cutting the estate agent out of the deal, that’s not what its about, but what I am saying is if the agent is not handling the offer or viewing in the correct manner, not all is lost. The owner may be able to speak to the agent and inform them on your interest and to book a viewing.
If in doubt, give me a call. My phone is always on and I’m happy to advice where possible.
Forget that, call me, I’m happy to go and knock on the door of the property for you and inform the seller of what you are experiencing.
Nothing gets my blood pressure rising that the frustration of agents concentrating on selling mortgages more than properties! … if you want to sell mortgages become a mortgage broker. Simple.
Its strange that its one of the only industries to do it, I went to buy a car only a few months ago, from a corporate main dealership. Was there any upselling of car insurance? No. upsells on finance. No. they simply asked if I wanted finance, I said no. end of conversation. He was there to sell me a car not a loan and he knew that. But he asked, I declined.
Could you imagine if he said “oh I’m sorry Mr Cheshire, I cant let you test drive this car unless you sit with our finances department” … they would never sell any cars that way! Which I guess why they don’t do it. So why don’t some estate agents take a note from them.
Now don’t get me wrong, I know there are some brokers that could really save you some money, but the question should be asked. “would you like to speak to our broker and see if you really do have the best rate available”? … no? that’s fine. End of. It shouldn’t need to go any further than that.
Anyway, hope you find this helpful ?
Nick – 07964343342