Estate Agents refusing to disclose final sold amount?

Just rang a local EA to enquire on the value a house went for in our area, got told she cannot disclose it. The sale has gone through??? I asked her why not since it was going to be on PPR and she told me she is not allowed disclose the value …seriously am I the only one who thinks this is nuts?

Why should she? She has market sensitive information derived from her professional activities which will eventually be made public but which is not yet in the public domain. Would you expect Google’s auditors to tell your their Q1 profit figures before they were formally published just because you telephoned and asked?

While agreeing with JohnnyTheFox… it does seem odd that the EA wouldn’t give an ‘in the region of’ response.
Doesn’t have to give the exact sales price… and if this is rural then I wouldn’t be surprised if it is almost impossible to find it on the PPR, what with our rural address system.

That was my point I asked for a region not the actual price but considering we are thinking of selling a family home does it not seem reasonable that it would be in their interest to give us a region?

Em no because that code of earning release is considered market sensitive information which will ultimately for a company that size affect the stock market and resulting share price and market confidence it is hardly the same thing as asking for a region of a house price

@Mrs C,

Try to see it from the EA’s point of view. If you are, indeed, about to put a house on the market, giving you this information could be handing it to one of the EA’s competitors as a pricing tool.

This is hot market information, and it’s leverage for the EA in winning your business “We just sold a similar house for X”. I’d suggest getting a quote for the business, and they’ll be more forthcoming with prices they’ve achieved locally in recent months.

Right now you could be a nosey neighbour, or calling for a competitor.

The transaction price of a house, between the time of sale and the time of publication, is also market sensitive information. Knowing it in advance of other players puts you at a distinct advantage in the market. It is the most important piece of insider information left to an EA these days now that the PPR is with us. Why would she give it to you for free? By being in possession of this information she has a distinct advantage versus her peers in terms of being able to market your own house. No professional, in any sector, is going to give up that advantage out of charity. Out of interest, did you discuss the fact that you are thinking of selling your own house and did she ask to pitch for that?

I’ve done this several times and found EA happy to give info, at least “in the region of”.

Its not my house but a member of our family I did mention that and that we were contacting agents in the area. Point noted that I could be competition etc …think what annoyed me more was how bloody rude she was, I do completely understand why she would not give the exact price but a region can be between lets say 500 and 530k for example would hardly remove their competative advantage?

The same thing happened to me and the house has not appeared on the PPR and it was over 2 months ago.
I am starting to think it was withdrawn as they didn’t get the asking price and the estate agent is still putting on the “buy 'em while you can” routine .

My friends family had a house on Royse road for sale that was part of a probate or something along those lines,
A sale agreed sign appeared on Myhome and the estate agents website ,
Before I knew this I rang the estate agent and asked what the sale price was , he told me it went nearly 20% above the asking price in the end and that the area was really popular again being so close to town and that things were really picking up.
I spoke to my friend a few days later and he told me it had not got any offers and that it was withdrawn only because of a family paperwork / inheritance issue.

Are Estate agents sometimes fabricating Bidding wars ? Pretending there is another bidder when really he knows you have another few Grand you were planning on refurb or furniture or whatever.

Yay … We’re back to this again are we ? If you are a buyer expect nothing from an EA, that way you won’t be disappointed. P. Hantom always exists

To be honest I don’t definitely I know it had gone sale agreed and the sign is down and now there is planning permission in the garden so am assuming the sale went through based on that.

I know never assume anything! :smiling_imp:

Some times I don’t even have to ask what a property went for if I enquire about it. Once I hear its gone SA, I say thank you, goodbye, etc. and then I hear ‘oh, by the way, the property sold for €XXXk’. Even the ones who aren’t shoving it in your face usually tell you if you ask, or will give you a region, eg. just over asking, just below asking, or between €XXXk-€XXXk. This EA is just being silly.

The EA is not entitled under the various Data Protection Acts to give out the information.

Providing “sold in the region” information is also questionable

A friend of mine has inherited the family home after his mother passed away. He has to sell to cover nursing home fees. A house a few doors up went sale agreed 2/3 months ago but hasn’t shown up on the register.
He rang the EA involved, who told him the price agreed straight away (which is high) and said some minor probate issue had to be sorted out but it was a done deal. This EA is hawking for business of course and wants the sale of his house.
They will divulge different info (or bullshit more like) to different people depending on the circumstances. Nothing new in what I’m saying. EAs are in the sales game - they’re hustlers basically.