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bumpy

Do You Upset Estate Agents

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There seem to be a fair number of people on here that routinely bit low offers on houses and thats good.

But, have you not found that Esate Agents treat you as a person who is just messing them about? They must get fed up arranging vists and accompanying you, when they know you will make a 'stupid' offer.

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There seem to be a fair number of people on here that routinely bit low offers on houses and thats good.

But, have you not found that Esate Agents treat you as a person who is just messing them about? They must get fed up arranging vists and accompanying you, when they know you will make a 'stupid' offer.

Having just gone through the process and having done it before you actually tend to find they are not too bad. At then end of the day if a house sells for £10 they will make some money, they will make nothing if it doesn't sell for £100,000.

They want it sold at the end of the day, I have never been turned down when I have asked to see somewhere which would suggest they are not out showing people around constantly.

Basically and EA needs both a Seller and a Buyer to make any money, while you might get the odd time waster he will want to keep you on side for the most part, especially if you are actively putting in offers as at some stage a seller might bit and he will get his commission.

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My agency recently sold a house for over £100,000 (approx 20%) less than it had been on the market for with another agent.

There is no such thing in this market as a bad offer, whether the vendors can afford to accept it though is another matter.

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If you are a genuine buyer then I don't think you will upset them, anyway, even if you do, it's not your problem is it? You can always negotiate the price and there is no need to worry about the consequences.

When I went to an EA for the very first time, they (having that in mind) were saying that I need to see over a 100 of flats until I decide to buy, and encouraged me to view as many flats as I want with no obligations.

Edited by Paul77

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Its obviously OK to bid low on one or two houses, but we seem, on this site, to have a few serial bidders who regularly bid low on a large number of houses hoping to strike lucky. Unless of course its all bravado and BS.

How do EAs take to this?

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I'll let you know how I get on then.

I've just emailed an EA via rightmove about a property I like the location (but not the price) of. However I have also made it very clear that I'm highly unlikely to make an offer as I feel property prices are vastly inflated and with the fallout of the austerity measures to come and with more announcements like those made by HMRC and the LR this week, they will hopefully be only going one way. So with that being said upfront, I've said that I'd still like to view if possible.

I don't know whether they'll believe me when I said that I have well in excess of the asking price in cash, but I do. Still, if the property's "no onward chain" and they're a supposedly "motivated seller", maybe we will have a pleasant surprise.

Edited by Guy M

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Its obviously OK to bid low on one or two houses, but we seem, on this site, to have a few serial bidders who regularly bid low on a large number of houses hoping to strike lucky. Unless of course its all bravado and BS.

How do EAs take to this?

IMHO unless you are an investment buyer, a house should be a home. Do you really want a property just because you got it for a steal or do you want it because if the property's features?

We understand that investors are in it to make a return and a good agent will help where possible, aiming to provide only the best deals for repeat buyers.

If you offer repeatedly too low on properties you could quickly gain a reputation as a timewaster and/or jerk. Agents will warn vendors before viewings as to your reputation and they may not wish to take your viewing. Worse is offering on several properties at the same time with the intention of only buying one. I would advise a "successful" vendor not to take their house off the market in this situation, in case your head were to be turned later on by a better deal.

Don't be put off by offering low. We know genuine buyers when we see them and you might be surprised how many properties an agent has on his books that he considers over priced.

Edited by PbroAgent

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IMHO unless you are an investment buyer, a house should be a home. Do you really want a property just because you got it for a steal or do you want it because if the property's features?

Yes, I agree, which is why emotions get in the way with most housebuying and buyers tend to overpay. Its all very well fine if you overpay as long as when it comes time to sell, you can find another emotional housebuyer willing to overpay too.

Its not like buying an iPhone, where you might not mind paying full whack because you "like" the phone and "really want it". In most cases, you don't buy it by taking a big loan that you are looking to repay at some point. For houses, you have to sell it on at some point (unless you're super cash rich), which means having to find a willing buyer to pay enough to release you from your mortgage.

That is why prime location (e.g. zone 1 + several other London postcodes) are still seeing frothy markets - people are buying with cash, and for them it doesn't really matter if the house price drops as they don't really have to sell it on at some point.

For everyone else, unless its a property to live in till you die, unfortunately you have to consider that you will have to sell it on at some point.

Edited by Boon

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  • 152 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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