First Time Buyer Anger.

"Agents want higher prices so they get higher commissions"

Buyer to agent: "I object to your self-proclaimed ability to identify 'time wasters"

Agents don't get paid for doing viewings or talking to buyers. They only get paid when a property gets SOLD. Everything up to that point is a waste of time, if the deal falls through.

[gillhayes]

I liked Jack and really respect him for coming onto the channel - I hope he hasn't been put off. I agree that some of the comments directed to him were misplaced and harsh, but I can see that they are coming from a place of frustration and exhaustion with the current situation and how impossible it can seem just to find a place to call home. Jack is clearly good at his job - respect! His priority is obviously with his seller clients who, after all, pay his wages - that's fair enough, but buyers are just as vital in the sales equation and need to be treated with respect too. There are enough hoops to jump through with the whole moving process, without having to write emails to prove how much you love a property - cringy and IMO a bit weird, especially in a buyer's market - sorry Jack! If you have proven your finances and have your 'ducks in a row' that should be enough to show your offer is genuine - your personal reasons for wanting to live somewhere are not really anybody else's business! I do also think agents might actually benefit from being more open about what offers might already on the table for a property - could cut out a lot of time wasting viewings, game playing, second guessing and general all round angst! Transparency = trust. How has the UK allowed itself to get to this place? - it really shouldn't be this hard. I'm Mum to a 21 and 19 year old and I worry terribly about their future prospects - my eldest is already talking about seeking work abroad when he leaves university - very sad.

[JayyTee]

I have had lots of direct messages on social media asking for advice off the back of this interview and 3 people asking for valuations on their homes, I am glad some people realised I don’t mess around and do the best job I can to help get people moved with minimal stress, I am very blunt and straight talking but people appreciate that because there’s a lot of fluff in this industry.
You can’t please everyone 😅
FYI I’ve had plenty of 5 star reviews from happy buyers too who really enjoyed working with me, because I am efficient and personable, in fact lots of my buyers viewing turn into sellers!
Thanks for having me on, MAYBE we will do it again… 👀😂

[wedocam]

Although unfair on Jack, it’s good to see people get angry and vent. I think it's very frustrating for young people today, I feel for them. I can understand their frustration, why would they even want to participate in such an economic system, when faced with a wall of unrewarding and toxic nonsense of the current over communicative world. The UK in particular has become quite a boring and stale place sadly, a sell out.
If I were young I would be learning skills to live outside the system to be free from the shackles of the vile money system and the economy, be rich in other ways, be independent and smart.

[Longinus-fetu]

The real timewasters are the sellers who take their properties off the market when they don't achieve asking price offers.

[RabJ]

The process isn't complexed. Sellers generally advertise through estate agents. The seller tells the estate agent how much they want their property advertised for. The estate agent lists the property for the seller at that price the seller wants it advertised for. Emotion often gets in the way and sellers often believe their properties are worth above market market value. I've spoken with estate agents who have told me on the QT that some of the houses on their own listings will not sell quickly because they are overvalued when compared with similar propeties in the area.

[samf]

First time buyers and the young have a right to vent in my opinion. They’ve got it rough….stagnant wages, high debt, high taxes, crumbling public services, high cost of living and on top of all time high mortgages and rents… yes some the above affects the whole population, however, at least older generations have their houses that have increased in value by a ridiculous amount. It’s not agents fault, but you can’t blame people who are getting fed up with things listed at ridiculous prices even with high interest rates…

[MissE]

Charlie, you’re right, a good estate agent is a great find. I remember needing to sell my house in 2005 because of a relationship breakdown. My estate agent assessed my offers. He advised me that the person making the top offer was a single nurse who needed accommodation quickly and may not be willing to wait out the shit storm carrying on between me and my ex. He said the next highest offer was someone looking for a doer upper and wasn’t in a rush. If he only had money in mind and didn’t ask the right questions to all involved, he would’ve just told me the top offer and the sale would’ve fallen through. He was right, the sale took a long time and we were lucky the buyer was so patient. This was thanks to the agent.

[missjane]

A lot of FTB don’t seem to realise how out of pocket they will be if a deal falls through. Best to spend more time before agreeing a price ensuring all parties are happy and limit the risk of paying for conveyancing and surveys and have it fall over. X

[craptacular]

I've had so many people complain to me over the years that they can't sell their house. Its so frustrating, because I know they'll just get angry if I say it to them, but any house will sell if the price is right, its not selling because you want too much money for it!

[stephengreen]

Chains are a nightmare. I prefer to move out and then buy. There are so many stories of getting the keys and people still packing boxes when you are trying to move in while your removal guys stand idle waiting for access. The whole process is so stressful. TIP. If you know anybody moving house, give them a hand. It’s very educational and maybe they might reciprocate when your time comes. Perhaps Charlie will interview removers.

[JayGrofte]

Estate agents and vendors are still valuing based on buyers borrowing at <2%. The maths doesn't make sense at >5%. Estate agents receive 1-2% fees based on the transaction value so of course they're going to attempt to sell at a higher price. They're conflicted. Given the amount of properties not shifting on RM compared with 6+ months ago, I do think people are starting to feel that the market is overpriced relative to their affordability. Add utilities, food, insurance inflation on top. And vendors can't afford to drop their expectations either because it risks their next move in the chain

[YukalayleeGames]

Helpful to hear both sides of the story.

[johnedwards]

Well put Charlie, I do think that respect is a 2 way street. You commented on a remark I made last week during a live show about my offer having been declined out of hand by an unrealistic seller. I maintain a good relation with the estate agent, I followed your advice regaring making sure all my ducks are in a row and I'm ready to move quickly. The agents are now chasing me to see if I am still intereted and offering viewings on new properties. A good working realtionship is key as long as you both respect that you both have slightly different objectives but ultimately want to profit from a mutually suitable outcome.

[paulnicolaides]

Well done Charlie, been watching you since last year when buying seemed so far away ... We have now bought our dream home and got it 10 percent below asking for an already reasonable price ...the process is full of challenges but all doable if you try to take emotions out of it . .thank you so much sir!

[SteveOh]

I watched the video before this and I couldn't see anything that's really controversial.

And as an FTB myself, I can say all the tips here are GOLD!

[davidholloway]

Well put Charlie, it is all about respect. Respect people, and they will appreciate it. Those people will be fair with you. And it cost nothing to be nice to people.

[friendlyadvice]

Aren't over-valuing agents FTBs too (for sellers) Charlie? They're kind of giving sellers false hope that their properties will sell at that price.

[sfm]

Used to have the exact same problem as a Recruitment Consultant in an Agency: people would turn up with no CV, no information (National Ins no, Proof of Address, ID etc) in their out door PJs and then whine they dont get placed in jobs or sent for interviews. We had the "NFC" drawer where those candidates got dumped. I will let you guess what that stood for lol😂

[frustratedhomebuyer]

Where is this mythical world in which estate agents call you up and tell you about a property that's coming up? There are 6 agents in my small town in Mid-Wales, I visited each and politely asked if they'd call me up if anything was in the pipeline that would suit me. 5 of the 6 said they were far too busy to be doing that and that I should just keep looking at RM. The 6th said that was something they'd never do, far more interested in letting it go online and then get competing interest.
I'm a cash buyer with nothing to sell, you'd think they would be more keen and make more effort. Everything is over-valued and you get the same story from them all - 'we haven't noticed any price reductions as yet in this area', 'oh we're doing rather well at the moment', 'houses are still selling' - then you point out how many of their listings have been reduced and it all goes quiet.

[Magic-mzww]

"Life does not give you what you deserve, it gives you what you demand", being a victim does not serve any one not even a victim! Thanks Charlie!😊