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Gavin

I Can Prove Estate Agents/vendors Lie.

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Sorry to resurrect this much ignored thread from last week, but my old estate is suffering, and beginning to show classic signs of realisation.

This started at 410k

BA..BASE how low can you go, how low can you go, how low can you go, BA BASE....

Nice house, been in it, very convenient, nice quiet area away from the chavclaves, 5 bedrooms, 4 bathrooms yet walking distance to all the amenities. Indeed the kind of property that should hold up well in any downturn or flight to quality. Blah di blah....

Yet it came on the market in around April time at 410 then dropped to 399, then 388 and now by another 23k to 365k. Thats around 12% so far in less than 6 months and I don't think its quite sold yet.

I know everyone has their own anecdotal, but this is real and about 200 yards from my bullimate who laughs at me for STRing.

In your face Mr. low interest rates/high employment/long term they always go up man!

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In your face Mr. low interest rates/high employment/long term they always go up man!

Low interests rates... I don't understand why a 25 year loan in a period of almost no inflation should take into account low interest rates at all..

I can borrow more because the rates are low.. ITS OVER 25 YEARS you MORON

Your borrowing the money over a quarter of a centuary and you think its alright to borrow more because interst rates are low now..

Thats like removing the central heating from your home in december because its been uncharacteristically warm for a couple of days.. hell why would that change.

If it sinks below the norm you don't take a long term gamble on it staying that way

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TTRTR you are a master of spin!

How the hell can you sit there typing that and expect to be believed?

If one estate agent on Rightmove is just below another offering the same house for 23k less, what would you, TTRTR do as a professional if you wanted to purchase?

a. Contact the higher priced agent? (your admire them for sticking to their guns)

b. contact the lower priced agent?

c. Hold fire as the seller has obviously realised that prices can be cut to achieve a sale and you are interested to see how low it will go?

Marketing at 2 different prices is just bunkum and you are deluding yourself that this is "the point" here. The price is falling, and you really are married to your position if you can't work that out my man!

:lol::lol::lol:

Seriously, I would offer 250k and not want to pay more than 1% duty.

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Seriously, I would offer 250k and not want to pay more than 1% duty.

I wouldn't offer them tuppence - an overpriced shoebox with a hundred people staring into your back garden. How we, as a nation, bought into this nonsense I'll never know.

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TTRTR you are a master of spin!

How the hell can you sit there typing that and expect to be believed?

If one estate agent on Rightmove is just below another offering the same house for 23k less, what would you, TTRTR do as a professional if you wanted to purchase?

a. Contact the higher priced agent? (your admire them for sticking to their guns)

b. contact the lower priced agent?

c. Hold fire as the seller has obviously realised that prices can be cut to achieve a sale and you are interested to see how low it will go?

Marketing at 2 different prices is just bunkum and you are deluding yourself that this is "the point" here. The price is falling, and you really are married to your position if you can't work that out my man!

:lol:  :lol:  :lol:

Seriously, I would offer 250k and not want to pay more than 1% duty.

M8 it's just that you're not used to this method of selling. Ask a Scot whether they'll sell for the lower price & most will tell you no. You seem to have worked out that it's a ploy by 1 agent to get the business by getting more calls than the other agent.

At the end of the day, the most likely outcome if this sells, would be that the price achieved by either agent would be about half way between the two advertised starting prices.

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M8 it's just that you're not used to this method of selling. Ask a Scot whether they'll sell for the lower price & most will tell you no.

What has being a Scot got to do with it? I've never seen a property in Scotland which is multi agency - I don't think we do that.

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M8 it's just that you're not used to this method of selling. Ask a Scot whether they'll sell for the lower price & most will tell you no. You seem to have worked out that it's a ploy by 1 agent to get the business by getting more calls than the other agent.

At the end of the day, the most likely outcome if this sells, would be that the price achieved by either agent would be about half way between the two advertised starting prices.

Sorry I don't know what planet you are on, but this planet where I sit is not Scotland.

Its obvious to me that this price has now fallen to 365k and its just that the previous estate agents haven't been spoken to, informed, or bothered to change their price.

When we were selling, we reduced our price and then a buyer who couldn't previously sell their own place first, sold theirs and came back offering the original full asking price for ours. The EA didn't tell them that the price had been reduced because that meant less comission for them. I feel bad for the buyers, but they were willing to pay the original full asking, they made their offer. If they had looked just once on rightmove they would have seen we were PREPARED TO TAKE LESS, and they would never have offered anything higher than the new reduced price.

If I see it on as "Offers in excess of 365k" I would make an offer just below this figure and not assume they meant around the previous 388k mark. In the UK I think 99% of people would think the same, including you.

p.s. Marina, actually I thought about it, I think I would pull out just before exchange of my 250k offer and claim it was too near a main road, this kind of house, although not bad in terms of recent builds (big rooms, quality fittings) is still from a bad bunch. Having moved about with renting, I would prefer an older house now...

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Sorry I don't know what planet you are on, but this planet where I sit is not Scotland.

Even if you were in Scotland, we have an "offers over" system, not an "offers in excess" system - I imagine that they're completely different from each other.

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Even if you were in Scotland, we have an "offers over" system, not an "offers in excess" system - I imagine that they're completely different from each other.

In Scotland it is viewed as a starting point for negotiation I imagine, part of the auction/sealed bid process.

In England buyers will just ignore this "in excess" part completely and will just assume that the vendor wants 365k, but will probably take less.

When I see a car in the paper for £500 o.n.o., I naturally assume I will get for slightly less than 500 quid, because o.n.o. was mentioned. I won't be offering 510 quid to 'be a nice bloke'.

Any canny buyer who has monitored the price of this house for more than a month will see that previous claims of offers above 388k were not really the full bargaining position, and that really 365k was acceptable, so why not even lower. The vendor was just trying his/her luck, so lets try ours.

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Interesting phrase, that, "as the market evolves". Sounds a bit like typical VI spin for cr*shes. Care to elaborate?

The market is constantly evolving. Questioning that just shows inexperience. Take for example the BTL mortgage which is a recent event. The changes in leasehold laws coming through all the time.

As I said, the thinking that all agents trying to sell a house should match each others asking price is purely old-fashioned.

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What has being a Scot got to do with it? I've never seen a property in Scotland which is multi agency - I don't think we do that.
Sorry I don't know what planet you are on, but this planet where I sit is not Scotland.

Its obvious to me that this price has now fallen to 365k and its just that the previous estate agents haven't been spoken to, informed, or bothered to change their price.

When we were selling, we reduced our price and then a buyer who couldn't previously sell their own place first, sold theirs and came back offering the original full asking price for ours. The EA didn't tell them that the price had been reduced because that meant less comission for them. I feel bad for the buyers, but they were willing to pay the original full asking, they made their offer. If they had looked just once on rightmove they would have seen we were PREPARED TO TAKE LESS, and they would never have offered anything higher than the new reduced price.

If I see it on as "Offers in excess of 365k" I would make an offer just below this figure and not assume they meant around the previous 388k mark. In the UK I think 99% of people would think the same, including you.

p.s. Marina, actually I thought about it, I think I would pull out just before exchange of my 250k offer and claim it was too near a main road, this kind of house, although not bad in terms of recent builds (big rooms, quality fittings) is still from a bad bunch.  Having moved about with renting, I would prefer an older house now...

In Scotland it is viewed as a starting point for negotiation I imagine, part of the auction/sealed bid process. 

In England buyers will just ignore this "in excess" part completely and will just assume that the vendor wants 365k, but will probably take less.

When I see a car in the paper for £500 o.n.o., I naturally assume I will get for slightly less than 500 quid, because o.n.o. was mentioned. I won't be offering 510 quid to 'be a nice bloke'.

Any canny buyer who has monitored the price of this house for more than a month will see that previous claims of offers above 388k were not really the full bargaining position, and that really 365k was acceptable, so why not even lower. The vendor was just trying his/her luck, so lets try ours.

Like I said, it's just that you're not used to it.

Would anyone care to waste their time disputing that 'offers over' and 'offers in escess of' have any real difference?

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As I said, the thinking that all agents trying to sell a house should match each others asking price is purely old-fashioned.

:lol::lol::lol::lol:

Actually your right, asking the original 410k for the house was so last spring bounce.

Now at 365k with a new estate agent is just a matter of taste, a marketing ploy. Like the vendor has to think of innovative ways to sell, like I KNOW, reduce the price because they are outrageously high!

I couldn't even make up some of your comments sometimes.

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Like I said, it's just that you're not used to it.

Would anyone care to waste their time disputing that 'offers over' and 'offers in escess of' have any real difference?

I am willing to. In Scotland, you have to know the market you're looking at. Offers over could mean 10% over, or it could mean 25% over - it is the traditional way of selling in Scotland. I doubt very much that anyone in England selling "offers in excess of" has marketed their property at 20% less than the price they expect.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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