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House Price Crash Forum

Cheeky

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Everything posted by Cheeky

  1. South Manchester. I don't think I explained it well. I viewed a house on the first day of listing, and the EA is telling all viewers essentially that they've no chance unless their bid is a minimum of £30k or even more over asking price. This is despite the listing not saying "offers over". When I questioned him on why he said that number, he said he doesn't have visibility of any offers. My point is that the number quoted is ******** because the EA can't see the bids, and it becomes a self-fulfilling prophecy that the house will go for way above asking if he's driving that fear into buyers. We know it's a seller's market, that housing stock is low and prices are high, but it's the third time we've had EAs pluck around £30k over asking price out of thin air as a "starting point" for any bids, with nothing concrete behind it.
  2. Anecdotal I know, but getting more and more annoyed about EA bull. Viewed a house yesterday. Priced at £425k, but before we'd even walked through the door, the EA was talking about the fierce competition, the twenty (20!) viewings already so far that day, the multiple offers already received, and that it would "definitely" go over astronomically over asking price. As we entered the hallway, he was telling us that it would likely need an offer of £450-£460k+, but "in this market, it could go for anything". The financial services industry is really heavily regulated, but apparently it's ok for EAs to spout ******** and fearmongering with no consequences. Can't wait for their pride to fall as they get to the end of wringing out the damp sponge property market they're milking to the last drop.
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