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  • Buy-to-Let

    Landlords losing money due to tenant fee ban.

    An employee of mine enquired to rent a property through a local agent.  They said they had a viewing that was interested at the asking price, he then offered comfortably over the asking price and they refused to submit the offer.  They said they had done a block viewing and had been offered had not had money down.  They would not accept the offer from my employee as it would have meant doing another viewing.  Welcome to the tenant fee ban.

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    The Landlord needs a better Letting Agent. That's no way to run a letting agency.

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    Agents are legally obliged to submit all offers received to their clients.  They cannot unilaterally accept or decline an offer unless the landlord has given specific instructions previously, which is unlikely.  The prospective tenant should remind the agent of their legal obligations and ask for their offer to be submitted to the owner; if they can find the owner then perhaps a quiet word with them too!

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    "Agents are legally obliged to submit all offers received to their clients. "

    How would one know that they are?

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    Good point. Does this apply to sales as well as lettings? Because I once put in an offer to an agent, and the person I was speaking to sounded very young, had a superior tone of voice and said "I'm not even going to bother putting that offer to my client". Had I known that it was a legal requirement, I would have delighted in telling him so.

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    Agents need to remember that they are middlemen and understand what that means.

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    One of my blocks i bought by having someone knock on the door and make an offer after the EA refused to pass on my offer having told me that the vendor had accepted an offer and was’nt looking for any others. It was totally untrue , agent nearly had a stroke during our subsequent conversation.

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    so you have to be able to catch them redhanded....which in a majority of cases might not be practical. and that is the reason why I believe (at least in London) this is a common practice amongst EA with no repercussions.

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    Common practice in most areas i’d guess, on that occasion it was pure luck and persistence that sorted things out. The usual excuse is that they’ve been instructed by client not to pass on new offers, no way of proving otherwise short of getting hold of client, but it only alienates you with that agent.

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    It is a legal requirement, but hard to enforce. The big "high street" agents are sometimes worse for this

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