A lender would not deal with you direct simply due to the fact that they do not have the resources. Imagine if every potential buyer called them up direct to negotiate, they would be overrun. You also have to consider that they have a duty of care to the ex-borrower and therefore have to achieve the highest price possible in the given market. Realistically this can only be done by using an estate agent. The other big point is your offer will have been rejected by the lender not the estate agent. Agents don't set the prices they just market at whatever they are told and obviously do not get paid until it is sold. If I was you I would work closer with the agents to find out how long it's been on, what price it started at and realistically what level of offer would they accept. If your not willing to pay what they want then leave it for now and come back to it if the property is still available in the future when they may take a lower price.