Estate Agent Shuffle

[The Masked Tulip]

In the last few weeks I have begun to notice houses swapping EAs. It mostly appears to be those houses which came on the market in the Spring/Summer.

What appears to be happening is that instead of dropping asking price these properties are merely swapping EAs and staying on the market for the same asking price or even a higher asking price than previously.

Is anyone else noticing this in their areas?

[repetitive bleats]

In the last few weeks I have begun to notice houses swapping EAs. It mostly appears to be those houses which came on the market in the Spring/Summer.

What appears to be happening is that instead of dropping asking price these properties are merely swapping EAs and staying on the market for the same asking price or even a higher asking price than previously.

Is anyone else noticing this in their areas?

Yep. The flat i was renting. On with one EA for 6 months with one price reduction and no interest. Went to a different EA who increased the price and sold it within the same month. Waiting for it to appear on Land Registry as I still can't believe it happened.

[exiges]

In the last few weeks I have begun to notice houses swapping EAs. It mostly appears to be those houses which came on the market in the Spring/Summer.

What appears to be happening is that instead of dropping asking price these properties are merely swapping EAs and staying on the market for the same asking price or even a higher asking price than previously.

Is anyone else noticing this in their areas?

I was going to post the same. Often I see a house "added in the last 24hrs" and I think "I recognise that .." and it dawns on me it's on with a new agent.. has the benefit (for the vendor) that Property Bee pricing history is lost.

Definitely seems like another throw of the dice before reducing prices.

[The Masked Tulip]

I was going to post the same. Often I see a house "added in the last 24hrs" and I think "I recognise that .." and it dawns on me it's on with a new agent.. has the benefit (for the vendor) that Property Bee pricing history is lost.

Yes, that is how I am noticing them. Seeing them on Rightmove and thinking "Hmm..."

[Pent Up]

If a house isn't selling is almost certainly because the EA is not very good and the solution is to change agents.

At least that's what everyone on mse says....

[exiges]

Reeks of desperation.

True, but given the poor experience vendors have with EAs you can understand why they'll chance their arm with another EA first before heeding the advice to drop their price.

[Charlie Don't Surf]

Not sure if what I am seeing is the EAs being swapped. What I am seeing though is NO new properties, just the same (usually most overpriced) appearing as new properties every other month

[winkie]

True, but given the poor experience vendors have with EAs you can understand why they'll chance their arm with another EA first before heeding the advice to drop their price.

Sole agency is always cheaper than joint agency...often there is a time limit to the contract before you can move to another.....an overpriced house will not sell whoever tries to sell it, unless you strike lucky, the longer the wait the slimmer the chance of that.

[or in excess of]

I was going to post the same. Often I see a house "added in the last 24hrs" and I think "I recognise that .." and it dawns on me it's on with a new agent.. has the benefit (for the vendor) that Property Bee pricing history is lost.

Definitely seems like another throw of the dice before reducing prices.

Yes, when it comes to deception and thinking up ever creative ways to "fool" the punters,these pseudo professionals have no equal. Only yesterday, i noticed that 49 properties in my area were added to rightmove in 24 hours, which seemed a bit much. On investigation, it turned out that one agent had put nearly all their "sstc" stock on to give the impression that hot cake time was back. And to thwart property bee`s efforts. I do enjoy the rightmove feature where you can email all the ea`s in your area at once, and regularly send them constructive comments etc. Edited November 17, 2010 by or in excess of

[The Masked Tulip]

Another thing that has surprised me is that I have asked in several EAs if I can go and view several houses which they have under offer.

All have turned me down.

In the boom period they loved buyers viewing as it allowed for gazumping and price rises and bigger commissions.

But now it seems they are so desperate to push a sale through they do not wish anyone else to view just in case it affect the potential sale that is going through. I have asked to view some houses which went under offer in August and which have still not exchanged - seems desperate to me.

[doomwatch]

I was going to post the same. Often I see a house "added in the last 24hrs" and I think "I recognise that .." and it dawns on me it's on with a new agent.. has the benefit (for the vendor) that Property Bee pricing history is lost.

Definitely seems like another throw of the dice before reducing prices.

Let's face it, vendors who can't sell their dwelling usually blame everyone else. It's either 1 of 2 things.

1. They have VERY unrealistic views on what their dwelling is worth in the current market i.e. what people can actually pay

2. Their particular dwelling has "issues" e.g. bad location, looks ugly, needs "modernising", needs new electrics, new bits of roof etc.

They usually sit it out for 6-9 months with their heads up their back sides, then either accept reality or blame the EA and move to another EA.

Most EAs are now desperate for any sniff of business, so often over-value to win business; this is where I have no sympathy with them, but

I guess business is business, if they are good enough to manage their client down the line & get them to drop the asking price, to get a sale.

Yes the audit trail with property bee will be lost, but Rightmove now have a great bit of new functionality. If you search the exact post code ABC XYZ of a switched

dwelling, it will pop up with the previous EA, in the "See more market activity in ABC XYZ" link at the bottom [provided the EA was signed up to Rightmove of course]. Quite handy !!!

[red]

Yes - see this a lot around here, also multi-agenting, when over-priced property doesn't sell. Classic denial.

Akin to changing deck-chairs on the Titanic.

[Anne_Uumellmahaye]

Another thing that has surprised me is that I have asked in several EAs if I can go and view several houses which they have under offer.

All have turned me down.

In the boom period they loved buyers viewing as it allowed for gazumping and price rises and bigger commissions.

But now it seems they are so desperate to push a sale through they do not wish anyone else to view just in case it affect the potential sale that is going through. I have asked to view some houses which went under offer in August and which have still not exchanged - seems desperate to me.

I have also seen this but when monitoring these properties and having quite a bit of local knowledge, it has turned out that the under offer properties were not under offer at all but removed from the market when the vendor has given up (or is going to chance their arm in the spring when "everything is back to normal"!!!)- Maybe this is why you can't view?

So, in summary, sneaky fecker EA's(one in particular in my west yorks region) have been blatently putting under offer and sstc boards outside properties in my area that have been withdrawn form the market

[The Masked Tulip]

I have also seen this but when monitoring these properties and having quite a bit of local knowledge, it has turned out that the under offer properties were not under offer at all but removed from the market when the vendor has given up (or is going to chance their arm in the spring when "everything is back to normal"!!!)- Maybe this is why you can't view?

So, in summary, sneaky fecker EA's(one in particular in my west yorks region) have been blatently putting under offer and sstc boards outside properties in my area that have been withdrawn form the market

Yes, I suspect this also.

I have a classic of one house I am interested in - 59K more than I am willing to pay - which was on the market with 2 EAs at the same time.

It is still on the market and viewable with one EA but the other EA is saying that it has been withdrawn from the market despite it still being advertised in their office.

[Mrs Bear]

In the last few weeks I have begun to notice houses swapping EAs. It mostly appears to be those houses which came on the market in the Spring/Summer.

What appears to be happening is that instead of dropping asking price these properties are merely swapping EAs and staying on the market for the same asking price or even a higher asking price than previously.

Is anyone else noticing this in their areas?

I've noticed more going with multiple agents.

Can't understand why, since most people do their prelim. hunting on't internet anyway.

One is an overpriced property we went to see anyway. EA told us there was 'no way' they'd take any reduction - despite it being on sale for months they were holding out for the asking.

Only 2 or 3 weeks later it was reduced by £20K (from about £320), and on with another agent at that price, too.

[winkie]

I've noticed more going with multiple agents.

Can't understand why, since most people do their prelim. hunting on't internet anyway.

One is an overpriced property we went to see anyway. EA told us there was 'no way' they'd take any reduction - despite it being on sale for months they were holding out for the asking.

Only 2 or 3 weeks later it was reduced by £20K (from about £320), and on with another agent at that price, too.

Either someone wants to sell or they don't....can't blame people for trying their luck can we.

[vectraman]

I have also seen this but when monitoring these properties and having quite a bit of local knowledge, it has turned out that the under offer properties were not under offer at all but removed from the market when the vendor has given up (or is going to chance their arm in the spring when "everything is back to normal"!!!)- Maybe this is why you can't view?

So, in summary, sneaky fecker EA's(one in particular in my west yorks region) have been blatently putting under offer and sstc boards outside properties in my area that have been withdrawn form the market

Really curious about this, why on earth would anyone allow an EA to put up a sold board outside there property when it hasn't been sold or its been withdrawn from the market. Sorry if I'm missing the obvious here.

[winkie]

Really curious about this, why on earth would anyone allow an EA to put up a sold board outside there property when it hasn't been sold or its been withdrawn from the market. Sorry if I'm missing the obvious here.

In the mid late 80s they did that, put sold boards up in the front of blocks of flats...a way of advertising how good they were, a touch of hype maybe or wishful thinking the thing was after further investigation none of the flats in the block had recently been sold.

[vectraman]

In the mid late 80s they did that, put sold boards up in the front of blocks of flats...a way of advertising how good they were, a touch of hype maybe or wishful thinking the thing was after further investigation none of the flats in the block had recently been sold.

Good point, I can see how they could get away with it on a block of flats where no one knows whats going on, I know flats where boards are a permanent fixture but why would a vendor let an EA put a sold board up outside a regular house when its not sold, what's the advantage for the vendor.

[winkie]

Good point, I can see how they could get away with it on a block of flats where no one knows whats going on, I know flats where boards are a permanent fixture but why would a vendor let an EA put a sold board up outside a regular house when its not sold, what's the advantage for the vendor.

Maybe the EA lives there?

[Number79]

Haven't noticed any shuffles yet but quite a few have gone multi agency, at the same asking price ofcourse

[Anne_Uumellmahaye]

Really curious about this, why on earth would anyone allow an EA to put up a sold board outside there property when it hasn't been sold or its been withdrawn from the market. Sorry if I'm missing the obvious here.

I know- this is the part I don't get, but I know for a fact that it has happened with 2 properties in my area (and I'm guessing more).

My hunch is that the EA says it is a mistake and this could be blamed on the guys who zoom round in vans amending, erecting boards.

Not sure if I am getting carried away in a Miss Marple kind of a way but the fact remains this has definitely happened on 2 detached properties where the board cannot be confused with another house.

[Rozza]

This the longest stand off in history, and sadly, my money is on the homeowners. Allowing the market to crash and people put out of thewir homes en masse is a situation that the government will not allow.

Id agree, my money is on the homeowners too, but theres few of these, theres loads of over indebtted bank renters though and some of them are running out of wiggle room

[Van]

It's the delusion of vendors.

Any serious buyer is going to register with all the EAs in the local area. If they can't sell, it's because they're asking too much. Simples.

[Let them eat cake!]

So glad I am not going mad! I have noticed all of the above and wondered if the sneaky EAs would put properties at under offer or put up signs saying sold to may Joe Bloggs think it was back to boom boom boom!

I am relatively new to house hunting and have been shocked by the lies the EAs will tell but I do love their faces when you have done the research (property bee and houseprices.com and invaluable) and you just lay out the facts and say it ain't worth it and I'll see you in 6 months to see if sense has prevailed!