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Angela

Ea Relisted All Stock At Fixed Prices

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

Sounds like desperation and a mental/cultural inability to cope with the game changing.. What's the point of having an EA if they are just a listings service? Surely their job is to negotiate the best price with the buyer whilst also ensuring they can get a deal done. If all they do is publish a price then they're not doing any work at all. I presume they'll make all their staff except one redundant now.

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Sounds like desperation and a mental/cultural inability to cope with the game changing.. What's the point of having an EA if they are just a listings service? Surely their job is to negotiate the best price with the buyer whilst also ensuring they can get a deal done. If all they do is publish a price then they're not doing any work at all. I presume they'll make all their staff except one redundant now.

Good point.

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I heard something on the radio (Newcastle area) that an EA was offering something similar (100 quid to sell your house?) or something like that. I'm sure there will be some sort of additional costs, but yeah, EA's are doing something differently at the moment (unless this was a new specialised EA agency, can't remember the name mind).

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

Do a price comparison report on rightmove for the postcode and you will see the previously listed prices in the 'properties no longer on the Market section'

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Sounds like desperation and a mental/cultural inability to cope with the game changing.. What's the point of having an EA if they are just a listings service? Surely their job is to negotiate the best price with the buyer whilst also ensuring they can get a deal done. If all they do is publish a price then they're not doing any work at all. I presume they'll make all their staff except one redundant now.

Yip, the only thing bouncing this spring are EAs pay cheques...

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

I personally think that the efforts to remove histories of price falls for a house that wont sell is counterproductive. I am sure that people will be more tempted to buy a house for £200k if it is a third cheaper than it was originally, than the same house for £200k.

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I personally think that the efforts to remove histories of price falls for a house that wont sell is counterproductive. I am sure that people will be more tempted to buy a house for £200k if it is a third cheaper than it was originally, than the same house for £200k.

Wont that give the impression that vendors are willing to accept a lower price still and can take a hit on their original asking price?

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

There is no such thing as a fixed price, regardless of what they put on t'internet.

Having said that, it is the sort of thing that would put me off looking as life is too short to have to deal with that mindset.

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Wont that give the impression that vendors are willing to accept a lower price still and can take a hit on their original asking price?

Exactly. That will suck buyers in and get them negotiating, which is exactly what EA's, vendors and prospective buyers all want to do.

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There is no such thing as a fixed price, regardless of what they put on t'internet.

Having said that, it is the sort of thing that would put me off looking as life is too short to have to deal with that mindset.

+1

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Do a price comparison report on rightmove for the postcode and you will see the previously listed prices in the 'properties no longer on the Market section'

Yeh, I'm using PB and imacros to record all those in York I'd be interested in price and room wise, and the handy feature that now records the postcode was useful yesterday when 10 new listings showed up but PB had the postcodes already stored-Ah not new after all! You could use it to cross reference all those relisted if the postcodes had been stored.

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Fixed prices might yield a truer picture of the market. Potential buyers who are expecting to haggle will go elsewhere and the EA will find themselves even less busy.

There is no such thing as a fixed price, regardless of what they put on t'internet.
There is - I've even come across a backstreet second hand car dealer who used fixed prices. Any attempts to haggle with him led to an irritated and dismissive sarcastic response. He seemed to do OK nonethess, and he was a miserable old devil. Edited by Hyperduck Quack Quack

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EA's.

Hehe. They are the physical manifestation of this countries greed and ineptitude when it comes to handling money and contract exchange.

We poop on them all the time, but you made this mess with your property addiction.

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

I see fixed prices as someone who might take an offer below it. It's "offers over" that I more see as hoping for at least the stated price.

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I see fixed prices as someone who might take an offer below it. It's "offers over" that I more see as hoping for at least the stated price.

+1

Standard negotiation technique.

Would you buy a house for , say £245k, from me if I started with "£250k and not a penny less or strike me dead", or would you buy at the same price if I had "£250k negotiable".

Buyers who are interested will ignore the fixed price blurp and feel they have achieved something by getting you to give them something in the negotiation (e.g. a measly 2% discount)

Edited by #1 on West side

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+1

Standard negotiation technique.

Would you buy a house for , say £245k, from me if I started with "£250k and not a penny less or strike me dead", or would you buy at the same price if I had "£250k negotiable".

Buyers who are interested will ignore the fixed price blurp and feel they have achieved something by getting you to give them something in the negotiation (e.g. a measly 2% discount)

That may be true, but you have to balance that against the fact that £250k negotiable is more likely to get a sale. The £250k fixed might well achieve a higher price, but take longer to sell. In the worst case, you might not be able to sell at all in a given time, after which prices have moved south and you no longer have a prayer at anything like close to your original minimum sale price.

The less flexible you are on price, the less likely you can make that sell in any given period of time.

Showing price discounts on a property is a great way of advertising price flexibility. I would have thought that all EA's would be trying to show this on their properties right now, after all, they need volume more than high prices.

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It sounds to me as though they are sick of people offering less than the asking price, which the vendor then rejects. They have chosen to not be busy at all and making no sales instead of being busy putting forward offers to vendors who reject them, and making no sales. I suppose it makes for an easier working day, shame about the not making a living part tho isn't it.

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+1

Standard negotiation technique.

Would you buy a house for , say £245k, from me if I started with "£250k and not a penny less or strike me dead", or would you buy at the same price if I had "£250k negotiable".

Buyers who are interested will ignore the fixed price blurp and feel they have achieved something by getting you to give them something in the negotiation (e.g. a measly 2% discount)

I'll bow to your superior knowledge re negotiation technique.

As a completely clueless buyer I would see fixed price and therefore not waste 'my' time even calling or following up. Personally it would lose a potential sale instantly.

Just my view and I am a customer.

Losing any customers in an already very restricted market seems odd to say the least.

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As Stupid as:

"offers in excess of £x"

"price range £x - £x" (and the difference could be £20K)

Offer 1p over the minimum price.

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Good point.

EAs will lie/say anything to get the punter to sign an agent contract.

It's only going to get worse as the spivs who only know rising markets get more desperate for a sale as the last ignorant stragglers jump off the cliff.

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Pearsons a local estate agents in FY8 just relisted it's stock over the last 24 hours at fixed prices. Obviously property bee is not giving history but to me they do not look reduced either. Sign of desperation? Sign too many folks offering stupidly low prices? Personally as a potential buyer I avoid viewing properties at a fixed price as I have no intention of paying the asking price.

I see this as a good sign nonetheless :-)

Angela

I guess this refers to Lancashire?

Anyway this Fixed price and offers over is the way of selling in Jockland. Not just a fad due to the market inaction ; it always is like that. Offers are binding there.

This EA guy clearly has some ulterior motive, apart from blindsiding PB.

However it'd just put me off as a buyer. 'Fixed price' in a falling market. Yeah right.

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I guess this refers to Lancashire?

Yes Lancashire.

It's been really interesting reading all your comments thanks, a lot of different ways of looking at it I'd never thought of. Maybe in future instead of being put off by 'offers over' or 'fixed price' I'll still make silly offers!!

Thanks

Angela

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  • 311 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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