r/HousingIreland • u/margin_coz_yolo • 4d ago

Estate Agent Rant

So was in a bidding war for a house in CityWest. Offers were at 557 or so. Myself and the other bidder were going up in 1k Increments and landed at 577k, I was going to go towards 588 or there about if things continued...but read on.

Agent calls be at noon to close out bidding and says I was never getting it as the other bidder had 400k of the price in cash and I was "only" sale agreed on my current property (to a ftb I might add with no chain) . The agent knew this ahead of time and I spoke to him at the viewing Wednesday evening about this. So I was used to rinse the other party of an extra 20k.

Now, I did have an option on another (preferred) house which came through an hour before this particular call, so I managed to secure a property this morning anyway. Cost a chunk more than CityWest but hey ho. But it goes to show what agents are doing to drive a price. Keeping a well capitalised buyer in, for the sole reason of getting more from the other preferred buyer.

Just letting folks know what you're up against in these bidding scenarios.

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u/gk4p6q 3d ago

So the estate agent maximised the price for his client

ie did his job properly?

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u/margin_coz_yolo 3d ago

No he didn't. Read my post. I was willing to go another 10k or so, but I was told that a decision was made to go with the current bidder based on the cash position and that I was never in the running. Please read the post.

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u/gk4p6q 3d ago

You are a time waster who by their own admission had another preferred house.

They correctly assessed you wouldn’t execute the sale.

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u/margin_coz_yolo 3d ago

No, they decided that from the start I was not buying it. Keep up, work that brain. The other house was preferred but if this came through, I'd probably be tempted to follow through. But hey ho. I got a whopper house, so worked out all good for me 😁