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Estate Agent Selling Scenarios


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#61 chrismar

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Posted 09 February 2011 - 06:43 PM

This is an invaluable thread - thanks. I'm viewing stuff at the moment and the EAs are using every trick in the book. I find it hard to believe that an offer has been accepted on the very day that I ring up to arrange a viewing, when the place has been on the market for 6 months, but that the seller is still keen for more people to see the place!


we are in the same boat as you. something we offered on has nowapparently got another offer and despite being under offer apparently to another person agent still chases us to increase as vendor would prefer our business!!! We won't increse (can't) yet still they chase us despite now having another buyer and telling us it is in hands of solicitor. We smell a rat with agent. We have walked away from this one now.

#62 lid

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Posted 13 February 2011 - 03:52 PM

FOR ONE MONTH ONLY THIS PROPERTY IS AVAILABLE TO PURCHASE FOR 150000

Well woopee doo.

Tempted to email them and ask, " what happens in a month's time, will the price be reduced?"

http://www.rightmove...y-15949512.html

#63 Daft Boy

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Posted 13 February 2011 - 04:42 PM

we are in the same boat as you. something we offered on has nowapparently got another offer and despite being under offer apparently to another person agent still chases us to increase as vendor would prefer our business!!! We won't increse (can't) yet still they chase us despite now having another buyer and telling us it is in hands of solicitor. We smell a rat with agent. We have walked away from this one now.



This happened to me in december 1983. I went and asked the vendor if an offer had just been made on their property has I had been informed by the EA. They said it was news to them. I would have offered 4K more than it sold for. It was eventually was sold to a relative of the estate agent .
In the dark depths of the lunatic asylum the daft boy is king............Shakespeare

"{C}{C}{C}{C}{C}{C}The Victorians used to find the idiots, lunatics and imbeciles via the census forms. Today we rely on the financial and housing markets to find them {C}{C}".........Daft Boy 2007

"Forget financial charts. We are in uncharted waters. That means what it says on the box. It is foolhardy to try to navigate the South China Sea with a chart of the Solent. It's no good looking over the back of the vessel to get your heading. That is why so many people are ending up on the rocks. Make for a safe haven to protect yourself or you may suffer a big loss". Trust me. I am a licenced boatman...........Daft Boy 2007

#64 Monopoly

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Posted 07 June 2011 - 12:33 PM

All this ******** about the wife's whining that they want a house and they don't care about the price...
I'm a woman and a wife and every time we went through a house I found a lot of things to point out to the EA, never believe a thing a EA's tells me, because it never adds up when you question them more.
I'm the one who wants to offer less then hubby and I'm the one who did all the negotiation with the EA's about the price.

I got a house down from 360k to 320k and a other house from 375k down to 355k.

So typical for you guys....

Edited by Monopoly, 07 June 2011 - 01:51 PM.

When you see the bandwagon its too late....

#65 Chuffy Chuffnell

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Posted 07 June 2011 - 07:08 PM

All this ******** about the wife's whining that they want a house and they don't care about the price...
I'm a woman and a wife and every time we went through a house I found a lot of things to point out to the EA, never believe a thing a EA's tells me, because it never adds up when you question them more.
I'm the one who wants to offer less then hubby and I'm the one who did all the negotiation with the EA's about the price.

I got a house down from 360k to 320k and a other house from 375k down to 355k.

So typical for you guys....


Or maybe - more likely - you're a non-typical woman?

#66 FloraPoste

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Posted 07 June 2011 - 08:11 PM

Or maybe - more likely - you're a non-typical woman?


there may be more of us non-typical women about than you realise.... ;)

#67 HousePricePaul

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Posted 15 June 2011 - 11:01 PM

+1 for the women, I think my wife is probably a tougher negotiator that I am !

#68 HousePricePaul

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Posted 15 June 2011 - 11:11 PM

In terms of the actual negotiation, I think it makes sense to try first to get the vendor to want to deal with you.
Going in with a silly offer, or going round the house (especially if it's been a home) picking fault with it , is unlikely to get to a position where the vendor WANTS to deal with you.
Accept there has to be a bit of bartering, but go in with an offer that's slightly lower than what you feel (or better still have researched) the house to be worth. If the vendor wants to deal with you and your valuation is way off the mark, then negotiations are swiftly concluded and you can move on to another place.
If you are in the right ballpark, then you can say your budget is constrained to X for the whole process of moving, but you need to set aside some of this for fixing the windows or whatever you don't like (giving the vendor the opportunity to lower his price, or get his mum who owns a window company to do the window!).
I find it is a quite straightforward negotiation as there is little room to manoeuvre except on price. If you've got everything in place then you can offer a speedy transaction, which I am sure will please the EA. But other than that there isn't much to play with.

#69 ticket2ride

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Posted 17 September 2011 - 08:44 PM

cut & pasted email from Robinson & Jackson

Calling all buyers... How would you like to become one of our HOT BUYERS?

Our Hot Buyers get exclusivity to all new properties to the market!

Before the property is even uploaded to the internet and before we call anyone else, you will have first refusal to view or buy the property.

Sound good? Then call now to find out how you can qualify as a HOT BUYER and all the many benefits that come with it!



#70 Buyer beware

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Posted 15 February 2012 - 11:26 PM

EA1: Hello, how can I help?
Me: Hello, its Mr Smith here. I'm phoning about the property on Whitecross Street I put an offer in on yesterday. Could I speak to Damon please?
EA1: Oh, Hi Mr Smith, your wife called yesterday with an offer of 320,000.
Me: No that was not us, our offer was 290,000
EA1: Oh I've confused you with another couple who offered today, I'll pass you over to Damon
Damon: Hello Mr Smith, how can I help?
Me: I'd like to increase my offer to 300,000 on the property on Whitecross Street
Damon: I've just come off the phone to someone offering 325,000 on that house
Me: My offer is 300,000 please put forward to vendor
Damon: I will but expect a rejection letter tomorrow.

(PS. Great thread and awesome website)

#71 catmandu

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Posted 17 February 2012 - 08:07 PM

I got a house down from 360k to 320k and a other house from 375k down to 355k.


Don't want to get into the whole man/woman thing but isn't the latter about 6% - pretty much the minimum you would expect in this market - now if you did in the middle of the boom in London, on a popular property, then fair play to you B)
p.s. I do realise this is quite an old thread :)

Edited by catmandu, 17 February 2012 - 10:46 PM.


#72 long time lurking

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Posted 10 September 2012 - 08:52 PM

Too many to mention. They will use any trick you could possibly think of.

One from personal experience is the creation of fictitious offers. You make an offer then all of a sudden there is another offer on the table higher than yours and do you want to increase. No is the answer! I won't bid against anyone. Especially myself!


Best thing to do is assume everything they say is a lie until proven otherwise.


I always ask if they have had any offers on it when I fist enquire if they say yes ask how much then walk away saying I wont be offering that and always go into the offices to do it

You will generally find out within the week whether it was a genuine offer as they will be on the phone with some b*llshit story if it was a blag

#73 TSM

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Posted 27 February 2013 - 05:25 PM

Here is my template for new build offers, hope this helps others..........

Hi, our offer is based upon and reflected by the following:

  • 1st time buyers, we are in no chain and can move quickly.
  • We have our mortgage offer in writing.
  • We have a solictor in place.
  • We are conscious newbuilds are like new cars, overvalued by upto 20% and they loose value after the initial purchase.
  • We want value for money in the current uncertain climate and wont overpay.
  • House prices are still overvalued in terms of affordability in the north east, a correction of at least 15% is still due.
  • Your valuation is pre recession 2008, prices have fallen since then in real terms but your valuation doesn't reflect that unfortunately.
  • The economy is very weak, especially in north east, prices are likely to fall with interest rises, further public sector job losses and the UK's recent ratings downgrade, we need to protect ourselves from negative equity.
  • Only 1 parking space, no garage.
  • We are not using the newbuy scheme saving Taylor their 10% contribution to this scheme.
  • Sold prices for new builds are not included in land registry figures.
  • We are not desperate to buy and we have narrowed our search down to 4 final options we are interested in, we will go with the one that accepts our fair offer.
  • Our offer is a long term financial one, we won't get emotional about our choice.
  • The other 3 properties are freehold, yours is leasehold which has ongoing additional annual costs which is a negative.
  • Your property is still within a building site for the next 18-24months and there is no guarantee the remaining plots will be finished, potentially effecting value, site building had already stopped once for over a year at staithes, again a negative.
  • Your property is within the worst area out of the 4.
  • We are ready to proceed, exchange contracts and have the reservation fee ready for each of the 4 properties if needed for whoever accepts our fair offer.
  • Taylor announced they doubled their profits recently to 190m for the year, a few thousand is a drop in the ocean.
  • By accepting our offer you agree that the property is removed from the market and no further offers are considered or accepted.

Our offer is: , only % below your valuation.
Property:

Thankyou, we look forward to hearing from you.

Kind regards



Any other suggestions guys?

#74 thesmartmoney

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Posted 27 February 2013 - 05:30 PM

*Sorry posted the above under my old account, couldn't figure how to delete my post

Here is my template for new build offers, hope this helps others..........

Hi, our offer is based upon and reflected by the following:

  • 1st time buyers, we are in no chain and can move quickly.
  • We have our mortgage offer in writing.
  • We have a solictor in place.
  • We are conscious newbuilds are like new cars, overvalued by upto 20% and they loose value after the initial purchase.
  • We want value for money in the current uncertain climate and wont overpay.
  • House prices are still overvalued in terms of affordability in the north east, a correction of at least 15% is still due.
  • Your valuation is pre recession 2008, prices have fallen since then in real terms but your valuation doesn't reflect that unfortunately.
  • The economy is very weak, especially in north east, prices are likely to fall with interest rises, further public sector job losses and the UK's recent ratings downgrade, we need to protect ourselves from negative equity.
  • Only 1 parking space, no garage.
  • We are not using the newbuy scheme saving Taylor their 10% contribution to this scheme.
  • Sold prices for new builds are not included in land registry figures.
  • We are not desperate to buy and we have narrowed our search down to 4 final options we are interested in, we will go with the one that accepts our fair offer.
  • Our offer is a long term financial one, we won't get emotional about our choice.
  • The other 3 properties are freehold, yours is leasehold which has ongoing additional annual costs which is a negative.
  • Your property is still within a building site for the next 18-24months and there is no guarantee the remaining plots will be finished, potentially effecting value, site building had already stopped once for over a year at staithes, again a negative.
  • Your property is within the worst area out of the 4.
  • We are ready to proceed, exchange contracts and have the reservation fee ready for each of the 4 properties if needed for whoever accepts our fair offer.
  • Taylor announced they doubled their profits recently to 190m for the year, a few thousand is insignificant.
  • By accepting our offer you agree that the property is removed from the market and no further offers are considered or accepted.


Our offer is: , only % below your valuation.
Property:

Thankyou, we look forward to hearing from you.

Kind regards

Edited by thesmartmoney, 27 February 2013 - 05:31 PM.

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#75 mrtickle

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Posted 27 February 2013 - 10:20 PM

Very good points and a pleasure to read - just one thing, if it's a template, particularly one used for a resource for other people, you should fix the grammar errors. If new cars loose value after the initial purchase you need to tighten them up, quick!

(ie the word you want is "lose". The word "loose" means something isn't very tight and will slip off. Spelling checks never catch these things, you need to know them :-))

Edited by mrtickle, 27 February 2013 - 10:21 PM.





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