You should have a read of the estate agents chapter of Freakonomics. In fact read the whole thing, it's excellent.
It says that the estate agent doesn't care if you pay top dollar or not, unless hits his or her own property. He or she cares that you buy it. At 2% the difference on their cut of the commission is peanuts between you paying, say, £600,000 and £580,000. Their time is far more effectively spent selling somewhere quickly, so that they can sell more properties, than extracting the highest price.
This is true, but as it's a 2 way transaction, in some cases it'll be easier/quicker for the EA to push for more from the buyer than convincing the seller to sell for less.
You should have a read of the estate agents chapter of Freakonomics. In fact read the whole thing, it's excellent.
It says that the estate agent doesn't care if you pay top dollar or not, unless hits his or her own property. He or she cares that you buy it. At 2% the difference on their cut of the commission is peanuts between you paying, say, £600,000 and £580,000. Their time is far more effectively spent selling somewhere quickly, so that they can sell more properties, than extracting the highest price.