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Angela

Make Me An Offer Week

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Entwistle Green Estate agents in FY8 have an interesting new sales technique, they are having a 'make me an offer week'. Bit of a variation on their open house weekends maybe. The prices on several of their properties have been removed and replaced with POA whilst still remaining at their old positions within the hierarchy eg still in the 249k position listing wise.

This particular example says was £375k but not all do:

http://www.rightmove.co.uk/property-for-sale/property-29994758.html

*MAKE ME AN OFFER 11TH - 18TH OCTOBER 2010 - CONTACT US FOR DETAILS.

* WAS £375,000 *

Was talking to other half last night as a couple of the houses we like which are too expensive are on this 'offer' wondering if it's worth going and offering say £240k for one we know was £325k. If they accept ha ha doubtful it's a bargain but otherwise they will know they are asking too much.

I think this is a good thing and wish they would do it with every house.

Angela

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Well, if they get 30 in at 225, and yours at 240 they might. But then again if you found out you'd bid that high, would you feel like a mug? :lol:

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I like this idea. Takes away the embarrassment of stupidly low offers. You could turn up and offer say £200k for the above property then when you get shouted out you just say well that's what I think it's worth didn't know you was asking 325k!

Edit: I doubt any vendors will accepting the offers they get

(if any) but it may open their eyes to what they are likely to get for it.

Edited by Pent Up

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It will be interesting to see how it works - I wonder if it is trying to do 2 things - both reduce vendor expectations, and find people that might be interested in the property, even if they are price sensitive. HPC members apart - the normal people who look at houses will get emotionally attached to any house that they have put an offer in on and so the EA will think they can talk them up considerably from the low offer that they made. Similarly they would hope that they can use lowball offers to show vendors the stupidity of there high asking prices.

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Entwistle Green Estate agents in FY8 have an interesting new sales technique, they are having a 'make me an offer week'. Bit of a variation on their open house weekends maybe. The prices on several of their properties have been removed and replaced with POA whilst still remaining at their old positions within the hierarchy eg still in the 249k position listing wise.

This particular example says was £375k but not all do:

http://www.rightmove...y-29994758.html

*MAKE ME AN OFFER 11TH - 18TH OCTOBER 2010 - CONTACT US FOR DETAILS.

* WAS £375,000 *

Was talking to other half last night as a couple of the houses we like which are too expensive are on this 'offer' wondering if it's worth going and offering say £240k for one we know was £325k. If they accept ha ha doubtful it's a bargain but otherwise they will know they are asking too much.

I think this is a good thing and wish they would do it with every house.

Angela

This is interesting and very encouraging. It looks like we are entering a price discovery period following the 'money grows on trees' era. I think most estate agents have absolutely no idea what a house should be worth nowadays.

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  • 259 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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