Who is being unreasonable?

[Evianers]

It has taken some three hours to calm down: we signed with an agent to sell our property only 10 days ago. In addition, we also signed with 6/7 others in the area, having had no luck under exclusivité [3 months]. Not long after a prospective buyer came to view who is now thinking of putting in an offer. Another agent also has someone on tap. Second agent is willing to reduce his 5% agency fees in order to secure much needed sale for both himself and us. First agent, whose buyer hopefully will offer the current asking price, absolutely refuses point blank to even negotiate a reduction on the 5%. So far he has only had to visit the house once, had to make a certain number of telephone calls and has provided two cups of coffee when we signed. He is arrogant, unbending, and is "shocked that we should even suggest a reduction, as we signed to pay 5%" [this despite that all other agents in our town are willing to reduce their agency fees even after running around for 3 months+]. So who is right and who is wrong? We maintain with so little done, he could afford to make a concession: he maintains we signed an agreement and have to stick to it. It is creating a very bad taste and his parting shot was, if we don't like it, it's no skin off his nose if we don't sign. OH thinks we will be forced to sign otherwise we might not get another buyer for months. Crux of the matter is, we have bought elsewhere [which this agent knows]: our new property's agency dropped their fees to 3% in order to satisfy both buyer and seller. Seeming this does not apply to him. Sorry...... am very upset.

[chocccie]

Well, you did sign for 5% and it's a bit unusual to ask for a reduction after signing ... you would have been more in a position to barter before you signed.  It's luck for him that he hasn't had to do too much for his 5% ... I guess other properties would be much more hard work yet he'd still only get the 5% ... so it's all swings and roundabouts for him.

Very annoying though it is, try and rise above it ... that you're all het up and annoyed doesn't affect him one jot, don't let him have a negative effect on the quality of your life.  Put it behind you .. but I'm sure your experiences will be reflected in any recommendation, or not, you will give for agents in the future!!!

If you let it bother you, you'll not be in the best frame of mind and heart to move into your new property.

Good luck

[Russethouse]

Hold on - let me get this right - he is the agent WITH the buyer and now you want him to drop his fees ?

What the other agent did is nothing to do with it as far as this agent is concerned, he is in business, you agreed to a fixed percentage, the time to argue was before you signed, not when he has found you a good prospect.

I'm sorry, I know it's not what you wanted to hear, all very well other agents reducing their fees, they are not the ones with buyers.

I'm afraid you have tough choice to make.

[AnOther]

Firstly I think if you have signed an agreement then you are bound to stand by it, any concession is only a goodwill gesture on the agents part.

Secondly, if I've read your post correctly this unyielding agent has potentially found you a full asking price buyer in 10 days which others failed to do in 3 months and you're upset because he refuses to discount his fee ?

Advance apologies if I have misunderstood [:$]

 

 

[Kitty]

Evie - I agree with the other posters.  The agent found a buyer in super quick time and you can move house.  Surely that is worth the 1% to 2% that you are quibbling about.

By the way, the agent, in order to find the buyer, has to fund premises, telephone lines, a car etc etc.  That is what you are paying for.

Rejoice in the fact that you can soon be on the move.  Have fun and let us know how you get on.

 

 

[Gluestick]

Sorry!

To me it sounds like "You can have whatever your heart desires to achieve the impossible".

"Oh! You have done the impossible!"

"Can we talk about price now, please?"

A Deal is  Deal!

Pay Up!

 

[mint]

Aren't you lucky to have found a buyer so quickly and, moreover one who is willing to pay the full price!  If I were you, I'd take the immo a bottle of champagne, shook him by the hand and ask him to do his utmost to get the buyer to sign double quick and hand over the money pronto!

[AnOther]

Am I not right in saying that having signed up to sell at a certain price if offered that you are obliged to sell ?

There may be special circumstances which would let you withdraw but in essence that's what it boils down to.

I do stand to be corrected though if mistaken.

 

[mint]

Where'd you hear that, Erns?  I'd be interested too as I am terrified that someone would want to buy my house and I can't find another one I like well enough (chance would be a fine thing but I am a very positive sort)!

[Russethouse]

My impression (could be wrong) is that if you are offered the asking price you are obligated to sell.

[mint]

Except that, RH, I think it was P-D Rouffignac who said recently that he stipulated that he would only sell his flat if he could find another one.

Show me how to do that "show posts" thingy and I'll have a look for it.

[AnOther]

I think what you sign with the agent is a contract to sell, not just an agreement for him to market the property although I guess it's possible that you can sign up with agreed conditions.

Evaniers, you presumably understood and have a copy of what you signed so what does it say ?

 

[Kitty]

Sweetie - you use the search button on the top right, typing in words that you remember were used and follow that through.  Once you have found the thread that you are looking for, you can copy and paste the thread address.

Is this the one that you are looking for?

http://www.completefrance.com/cs/forums/1249394/ShowPost.aspx

 

[Russethouse]

Look at Nicos comment in this thread.http://www.completefrance.com/cs/forums/2/1247311/ShowPost.aspx#1247311

I guess if you start out with the P-D Rouffignac condition, it's possible, but if you were a buyer would you even bother to view under those circumstances ?

I'm sure some one else will know better than me.

[mint]

Thank you, Cathy and RH.  I don't think this is the thread I was thinking of.  I might find the correct one yet.

[mint]

Cathy, I have found the post but I didn't seem to have the facility for copying or pasting.  The thread is called "Selling our house in France" and P-D de Rouffignac's post was on 02.05.08.

He seems to know a lot about buying and selling houses and perhaps he'll come on the forum and give us the nitty-gritty on this one. 

[Clair]

Selling our house in France

[mint]

Merci.  Voila, page 5!

[Kitty]

Sweetie - The thread that you want is:

http://www.completefrance.com/cs/forums/5/1219990/ShowPost.aspx#1219990

P-D's post is on 2nd May and is the last on the page that I have pasted.

Once you have the thread and/or post you want, Sweetie, you go to the address part of the page (the bit that says www.etc).  You highlight the address and then with the right click of your mouse, you can copy it.  You go onto the thread/post that you are typing, right click the mouse and then you can paste.

 

[mint]

Thank you, you kind, patient person.  It's easy to tell you are the mother of 4 children because you certainly have the knack to be patient and gentle at the same time.  Me, I might be patient, but possibly only through gritted teeth!

I will now have to find a post I want to quote as soon as possible so that I can try out your instructions!

[Kitty]

Sweetie - I don't think my children think I'm kind and gentle but it's lovely for you to say that.  Because of the French train strike (over fuel prices), they have been all home for two days and you would have heard me on the other side of the Gironde.

I do hope that the original poster can get some information from the additional threads.  I'm thinking of moving in the autumn and I had no idea that if someone offered the asking price, you had to take it.  I'll check any contract and make it conditional on me finding something.  I wonder if this has an impact on value?

 

[Russethouse]

I'm not sure that extra info will help the Op, they want to sell their house and appointed an agent at 5%, he found a hot prospect, now they want to negotiate the fee.

If the offer is less than the asking price they may be able to hang on and hope the agent will negotiate, but it's a risk. I think only they can know how much they want to sell and what they need to do to buy their new home.

It's possible (we can't know from what has been written) that the agent thinks he has similar houses that he can sell to the potential purchaser.

Best of luck to the Op anyway.

 

 

[Cat]

There are quite a few things in the original post that I don't fully understand.  Is the house in France?  Was the house overvalued by the first 'exclusive agent', and the difficulty in finding a buyer due to the inflated price?  

If the house is in France then it is (as someone has already pointed out) the buyer, not the seller, who pays the agents fees.  If the agent can get you a full price offer on your house as quickly has as seems to have done, what difference does it make to the seller what his fees are?

If the offer, when it comes, is lower than hoped for, would the OP be willing to accept a lower offer, rather than asking the agent to accept a reduction in fees?  Or lower the sale price if necessary?  Why should the agent carry the full cost of a reduction in fees when it is in the sellers interest to sell quickly?

I'm sorry, perhaps I haven't understood the original post very well, and I don't mean to sound negative.  Best of luck!

[AnOther]

I think we might assume from the OP's comments "It has taken some three hours to calm down....Sorry......am very upset" that possibly her message may not have been as coherent as it could have.

I note too that thus far at least there has been no subsequent response from her so perhaps we should wait for clarification.

 

[Boiling a frog]

Seems pretty clear to me. She wants to have her cake and eat it.

She has her house on the market ,she has signed with several agents one of whom is charging the BUYER 5% of the purchase price.This agent has sent someone round who is interested in buying.Now the OP wants the agent to reduce his fee to secure a purchase.Why does she not reduce her price to secure a purchase.

Why should the agent ,who has managed to find a potential  purchaser within 10 days, reduce his fees. You say he has done very little but in fact he has possibly achieved  the whole purpose of his profession, ie sell your house.Does it matter that he has only offered you a cup of coffee.

In my mind you are being extremely unreasonable