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A Desperate Call From Ea

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

Piss through his letterbox.

No, only joking!!

Piss through the vendor's AND the EA's letterboxes.

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Invite him over to your house and answer the door wearing only a pair of speedos, acting totally oblivious to it. Then make an even lower offer, and when he looks exasperated say 'is it because I'm a bit underdressed'.

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Piss through his letterbox.

No, only joking!!

Piss through the vendor's AND the EA's letterboxes.

Can women do that? :blink:

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It is really simple, you lower your offer if they are desperate....

Tell em the offer is 17% off and you have an offer in on another property.

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

mmm yes, I think this doesnt make sense. :huh:

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

Laugh???????

Point and laugh???????

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:) My partner also had a call from an estate agent today for a house we looked at a couple of months ago. It's over priced at 265k and the owner clearly has very little motivation to move. When we told him that we thought it was overpriced and that we couldn't put in a offer because a realistic one would be so low that it would not be worth their time, he invited us to make an offer anyway.

"What , 10k below asking?" he said.

"Hmm, no, our offer would be lower than that" my fiance said.

"How much is your offer then?" he said.

"205k" she replied.

An a long uncomfortable silence followed. Followed by "I don't think they would accept that".

Presumably, since it's an actual offer they have to go and relay that to the old lady that her treasured home has had such a derisory offer placed upon it?

I have to say I can't stop smiling at the thought of the EA on the other end of the phone or the idea that the owner will have the 'good news' of an offer, only to be told that it is a full 60k less than she was hoping for.

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

Tell him he is not alone EA's are selling one property per month if they are lucky!!

The number of homes recorded so far as having being sold in May is just over 14,000. Down from 63,000 in May last year and 106,000 in 2007.
UK house prices (asking) have stopped their recent 'dead cat bounce' according to Miles Shipside and his team at Rightmove. Estate agents now have on average seventy properties each on their books, and are only selling ten per month according to RICS...

However, this RICS contention is not supported by recorded data. With only 35,000 property sales a month, according to Land Registry, and the head count of agents being circa the same this would suggest that agents are in fact only selling on average one property per month.

Eventually I assume they will start listening to what Miles Shipside RM's Director has been saying all year:

Rightmove Index: Raised Asking Price Doing More Harm than Good

The latest release of Rightmove's house price index shows asking prices on UK property rose 0.9% this month compared to last month.

The report admits that agent's are being forced to up initial advertising prices to win new instructions, amid the fierce competition for the few quality properties that are currently being put onto the market.

That makes the asking price rise, for me, more like bad news than good news. I understand that agent's are trying to survive in a difficult market, but we need to firm out the price drops that we have had, before we can ascertain if they are enough to bring the market to bottom, and accelerate any further drop that may be necessary

In short, by humouring unrealistic vendors over asking prices, agents may be doing nothing more than prolonging their own misery.

The report also said that lack of mortgage availability is hindering market recovery as sellers who have dealt with the market reality and drastically dropped their asking price are faced with buyers unable to obtain finance. Rightmove commercial director Miles Shipside said:

"Some sellers are still pricing wishfully high, though it is encouraging that elements of the market have adapted relatively quickly to find a new price floor at a discount of around 25% from peak. "

"Until banks get their own houses in order, the active minority of sellers and agents who have drastically adjusted pricing will remain frustrated by the limited functioning of the financial services sector."

So, after its initial optimism the Rightmove index enforces the realisation that the UK property market recovery hinges on two things: vendor realism and mortgage availability. The latter more than likely hinged on a recovery to the wider UK economy, which in my opinion is also necessary to increase buyer numbers sufficiently to bring vendor realism

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

A packet of your own shit through his letter box.

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:) My partner also had a call from an estate agent today for a house we looked at a couple of months ago. It's over priced at 265k and the owner clearly has very little motivation to move. When we told him that we thought it was overpriced and that we couldn't put in a offer because a realistic one would be so low that it would not be worth their time, he invited us to make an offer anyway.

"What , 10k below asking?" he said.

"Hmm, no, our offer would be lower than that" my fiance said.

"How much is your offer then?" he said.

"205k" she replied.

An a long uncomfortable silence followed. Followed by "I don't think they would accept that".

Presumably, since it's an actual offer they have to go and relay that to the old lady that her treasured home has had such a derisory offer placed upon it?

I have to say I can't stop smiling at the thought of the EA on the other end of the phone or the idea that the owner will have the 'good news' of an offer, only to be told that it is a full 60k less than she was hoping for.

Or in otherwords a realistic offer, what is that something like 22% below peak?

Given that if the property loses 35% from peak the buyer will lose £32750 if they pay £205000.

If the property loses 40% the buyer will lose £46000 with no hope of that property going back up for a decade or more.

Sellers forget that it is not just the seller that is going to take a hit due to realistic valuations and the market recovering back to sustainable lending levels.

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UPSET By what?

That you will not pay more?

Tell him, he should get you a MUCH LOWER offer, and you might consider improving your bid.

But only suggest this, if you really are willing to improve.

Then he should say: What offer are you looking for?

Tell him a number that is almost equal to your best price, but say:

"I won't pay that much, but if you show me that offer, I will improve my bid."

I have bought and sold many flats, and realise it is a good thing not to waste time.

But neither to be too eager.

This conversation will take to rapidly to a place where either:

+ You will be in control of the negotiation, or

+ You will know it is a waste of time to persist

It's all Chinese to me.....

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...what am i going to do about it???'

feel relieved you didn't purchase it an overinflated price :)

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Get 2 or three of your colleagues to put in offers below, at and above your offer.

The ones at and below will undermine her confidence

The one above may help weed out what price she actually wants

All three will make the EA look good (spit) and she'll stay with them.

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Perhaps you should just give the estate agent a large sum of money for doing nothing. That's the normal deal.

After all, how else is he supposed to afford his next Audi S4? ;)

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I had a call from an estate agent who i viewed a house with 2 weeks ago....put an offer in last week 15% below asking (which has been dropped twice this year already)

the estate agent said 'the vendor was upset that they haven't sold the house and were going to move it to another ea...what am i going to do about it???'

this is a new one on me??? any thoughts??

sounds like ****** to me. he probably hasnt even passed on your offer. also if she does change agents, shell end up paying two, if she goes with your offer.

Edited by cypher007

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why up your offer when you have thought what its worth? is not your job to pay what they want..its your job to save yourself as much as possible.. dont fall for the ea tricks.

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i never said the first offer was what i thought it's worth?? i said i made an offer 15% below asking...i was always prepared to go higher but i was just trying my luck 1st.....the worst they can say is NO to my 1st offer...

Just don't like the EA tactics thats all???

Before you say dont buy now your'll get 2 houses for a pound next year!..... my circumstances are that i gotta move!!

my first hand experience is that some EA's are a little dubious!! <_<<_<:huh::huh:

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