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ril

Ea Work For The Seller Right?

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There has been a 2 bed flat near me for sale for 3 months @ £179k which went to £165k now £159k . I phoned the agent to ask to view the property and the EA said there had been no interest in the property for a while, it had one offer that fell through on day of completion and the seller was going to take it off the market as he was fed up and may try to rent it , then said he would accept a lower offer if i made one.

Not much upselling from the EA there, wonder if the seller know the ea is talking his flat down???

I might offer 10% less than £159 = £143k (which is 20% less than the starting price of £179k and same price as it was in 2001)

cheers

ril

Edited by ril

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Guest Guy_Montag
There has been a 2 bed flat near me for sale for 3 months @ £179k which went to £165k now £159k . I phoned the agent to ask to view the property and the EA said there had been no interest in the property for a while, it had one offer that fell through on day of completion and the seller was going to take it off the market as he was fed up and may try to rent it , then said he would accept a lower offer if i made one.

Not much upselling from the EA there, wonder if the seller know the ea is talking his flat down???

I might offer 10% less than £159 = £143k (which is 20% less than the starting price of £179k and same price as it was in 2001)

cheers

ril

if he doesn't sell, he doesn't get paid :)

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>>>> Ea Work For The Seller Right?

Don't be sooo silly! EA's work for themselves earning commision from sales..........that's as near as they get to "working for the vendor"

For the last 8 years all an agent needed to do was secure an instruction in order to secure a sale..........hence they were very accomodating to vendors and quite dismissive of cheeky or hesitant buyers.

Walk into an agents today - tell them you are a cash buyer and they will spend the day chauffering you round providing you coffee, laughing at your innane jokes and being your best friend.

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I might just try that  :D

Have any of you been into Foxtons lately?

No free coffee, they struggled to get me a free coke.

Come on, this just isn't good enough.

I'm a proceedable buyer, they should be rolling out the red carpet.

Now I can understand the need to cut costs, but maybe things just need to get a little tougher out there to get those boys on their toes...

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EAs are sales people.

Sales people are not like engineers, or teachers, or doctors or nurses. They live to make a buck, preferably as easily as possible. When times are good the veneer of looking out for the vendor might seem true but I suspect that in a buyer's market the opposite is true.

Example.

Say an EA has to sell a house thats on for 300K.

At 300K an 1% thats a 3K commission.

For that 3K he might need to take 10 adverts, 20 calls, 12 viewings, 4 second viewings and so on and even then it might not sell. It might takes months with no end in sight or fall through at the last minute.

By lowering it to 260K its one ad, two phone calls, two viewings and bobs your uncle. Done and dusted in 6 weeks.

"Ah, but its my interest to achieve the highest selling price for you" says the EA to the vendor.

Pffffft.

By getting the vendor to lower their sights by 40K what has the EA lost? Answer=400 quid.

But he has still MADE 2600 for about a quarter of the work in a quarter of the time.

Sales people are great debaters and can be very pursuasive. Thats a talent I want working for me and in a buyer's market its almost inevitable. Tell them straight: "Listen pal, there's three grand in it for you if you can pursuade Mr XYZ to take my offer".

Consider an EA with a chain - that one cash buyer might release four or five commissions at 3K apiece whcih adds up to a whopping 12-15K - IF they can get your offer accepted to get things moving.

Keep at it!

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Walk into an agents today - tell them you are a cash buyer and they will spend the day chauffering you round providing you coffee, laughing at your innane jokes and being your best friend.

They don't with me anymore :(

I upset too many of them wasting their time.

I think I might have blown it when houses drop to

my level of appreciation. They don’t talk to me now.

Only at night when they telephone at 2am (heavy breathing and sobbing)

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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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