estate agent

[TinnatParticipant]

I’ve contacted an estate agent to view a house for rent. I first made an offer via the agent, which was refused. Subsequently I decided I would like to make an offer to BUY the house, as the house is also for sale with the same agent. Can I contact the owner directly, and what do I risk?

[InezParticipant]

Hi Tinnat – you dont really risk anything, but if the agent has registered your name with the owner and the owner doesnt pay the agents commission then the owner is really the one at fault leaving the agent open to proceedings for their fee.

If you both do the deal and the agent finds out, she/he can demand payment at notary, again by proving she introduced you to the owner.

Im unsure of the agent could come to you after the sale to settle the fee on the basis of proof of the introduction as I havent had to look down this path myself.

As the owner actually pays the agents fee, why dont you want to go via the agent? Or do you feel you arent gettting through to the owner by do ing so? (just curious)

[AnonymousParticipant]

Hello Tinnat

I agree with Inez’ comments

The problem would be for the vendor, not for you (as he is the one who should pay the agent’s commission for the sale of the house). If the agent finds out that you have finally bought this house and he has evidences to prove that he presented you to the vendor, he could claim the agreed commission to them (he would also have to prove what is the commission agreed).

In any event, he can not take any action against you.

Thanks

[TinnatParticipant]

Thank you for your answers. The reason I am loathe to go through the agent is that I intend to make an offer which is significantly less than the asking price – the agent will be reluctant to push it through with the best intentions.

[katySpectator]

Most agents are so desperate for a sale right now that they would pass on any offer. Not the same as a few years ago. Infact I have heard a few agents have been contacting sellers on their books to ask them to reduce their asking price.

[Fuengi (Andrew)Participant]

@katy wrote:

Most agents are so desperate for a sale right now that they would pass on any offer. Not the same as a few years ago. Infact I have heard a few agents have been contacting sellers on their books to ask them to reduce their asking price.

Hi Katy, I’m not suprised they are desperate for a deal if they are only asking sellers to reduce their prices now!

Should have started doing it minimum of 2 years ago!

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