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Monopoly

I Just Don't Believe It..

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Crazy. Maybe they've mown the lawn?

Or spotted some green shoots growing in the borders.

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This property was with an other agent since 2007..then it was 345k..it then got reduced twice to 315k, that was in January 2008.

Gibbs Gillespie, took it on a couple of weeks ago as a second agent.

I dropped a couple of days ago in to the first agents office to see if they would be willing now to sell it for 250k, he then said that that somebody made an offer on the place close to asking price...

I just couldn't believe it..it was an dump inside with spider weeps everywhere.. but apparently they had painted the place :rolleyes:

It looks to me that now they had some interest and they painted the place its worth 35k more hahaha :lol:

Edited by Monopoly

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There really is no logical explanation for this sort of behaviour - surely the EA must be aware that it'll kill any chance of a sale?

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There really is no logical explanation for this sort of behaviour - surely the EA must be aware that it'll kill any chance of a sale?

Since when are EAs logical...plus they have learnt nothing in the last 2 years :rolleyes:

They are just animals driven by greed :angry:

I just wrote an email to them.."have I missed something..or since when did house prices go up 11%?"

Edited by Monopoly

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it's reverse psychology lol

Yes it maybe actually.

You need to get inside the head of the vendor/EA.

Why does rightmove.com have a minimum price on their search? I never use it. I type in my maximum price and leave the minimum price.

But maybe, just maybe, there are some people out there, who like to think that they have a minimum price. You know the ones - these are the people who say that their house is worth a quarter of a mill rather than £250,000. But those same people couldn't possibly buy a house for less than £250000 because then they can't say a quarter of a million. Do you see what I mean?

So this vendor/EA thinks that by putting the price up to a nice round figure of £350000 from an odd figure of £314000 thinks that they will tap in to some people that wouldn't otherwise have had the chance to view this salubrious property. And that could bring forth the one to buy.

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There really is no logical explanation for this sort of behaviour - surely the EA must be aware that it'll kill any chance of a sale?

Not the case! This is probably just more evidence of the tactics the EAs will use to entice the general public into buying a house. It is clear that the number of enquiries is up, so the EAs already have people in their doors.

If in 3 months time they can show a potential buyer this property for £350k and the buyer offers around 10% less (roughly the differential between asking and selling prices) at say £310k, then they can accept the offer and the un-informed buyer may feel they have got a bargain.

This is a short-term sales strategy to give the seller the opportunity of getting something near their original £314k price over the coming months.

I don't think for one minute many people on this forum would fall for this, but for the general populus the feeling of a 'bargain', no matter how thinly veilled, is too good to ignore.

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Not the case! This is probably just more evidence of the tactics the EAs will use to entice the general public into buying a house. It is clear that the number of enquiries is up, so the EAs already have people in their doors.

If in 3 months time they can show a potential buyer this property for £350k and the buyer offers around 10% less (roughly the differential between asking and selling prices) at say £310k, then they can accept the offer and the un-informed buyer may feel they have got a bargain.

This is a short-term sales strategy to give the seller the opportunity of getting something near their original £314k price over the coming months.

I don't think for one minute many people on this forum would fall for this, but for the general populus the feeling of a 'bargain', no matter how thinly veilled, is too good to ignore.

Yep yep. I've just sold my house and I was amazed at some of the things my potential buyers said.

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Not the case! This is probably just more evidence of the tactics the EAs will use to entice the general public into buying a house. It is clear that the number of enquiries is up, so the EAs already have people in their doors.

If in 3 months time they can show a potential buyer this property for £350k and the buyer offers around 10% less (roughly the differential between asking and selling prices) at say £310k, then they can accept the offer and the un-informed buyer may feel they have got a bargain.

This is a short-term sales strategy to give the seller the opportunity of getting something near their original £314k price over the coming months.

I don't think for one minute many people on this forum would fall for this, but for the general populus the feeling of a 'bargain', no matter how thinly veilled, is too good to ignore.

I suppose this might work with idiot buyers who don't compare similar properties in the area, but given the current economic climate, there can't be that many flush idiots around.

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Gibbs Gillespie, took it on a couple of weeks ago as a second agent.

I dropped a couple of days ago in to the first agents office to see if they would be willing now to sell it for 250k, he then said that that somebody made an offer on the place close to asking price...

Well, with ex-EA's openly admitting standard tactics like this (name deleted to protect the newly innocent);

I was an EA in a former reincarnation and this is an old trick that worked well in the mid 90s and I presume is still in the EA toolkit. The aim of the process is to indicate to you what level the seller will accept, i.e an increment higher than what you have been told the other side has offered. It doesn't matter if that offer exists or not.

Being told what the last offer is helpful because it lets the buyer know what the agent thinks the seller is or should be prepared to accept. Of course, if an EA tells all the viewers that an offer has come in at a certain level even if it hasn't, you'll always get someone who puts in a higher offer and gets them a chance of a sale.

...then anything is possible. Indeed, how many chains are and have been based on exploited fears and downright lies?

So it's lies on the mortgage application, lies in the media, lies in the boardrooms, lies in the statistics, lies at the Estate Agents and lies in Parliament.

But the market never lies, oh no.

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This bungalow is on the market since Jan.08 for 314k..no takers.

Now its on for 350k....

http://www.rightmove.co.uk/property-for-sa...NG%26index%3D40

For sure it will sell now :rolleyes:

Yeah, for sure. Better get yourself round there before it's snapped up! :lol: Hurry!

I've noticed the same thing happening in my manor. EAs listing properties at 2007 prices! WTF?

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