Anecdotal - Estate Agent Came Round To Value My House!

[seb197]

Well went to look at some new builds last weekend just out of curiosity really at what is on offer. These were a 3 bed detached with garage 225k and a 4 bed with garage 265k on a small rural Suffolk plot of about 8 houses. they had been planed to be built 3 years ago but the original developer went bust! So 3 years on a new builder comes in to complete them.

Overall, room sizes not too bad considering they are new builds... but as i am looking for a decent sized garden I was not impressed with such a small garden with no sunshine.

As me and the mrs are actively looking (I have the ''cash'', she has a house we currently live in that we would sell on once we find the right place, buy with my cash then sell on hers as and when as we do our work on the new place as we want something no chain, run down etc just to try and get it for a reasonable price, as most is so OTT)

So had to talk with the agent about ''our position'' as they call it and he wanted to come round and value our house (why I don't know, i told him i didn't need to sell it and wouldn't be until I got my new house) The mrs was keen as she wanted to see what the agent said it was worth and plus he was trying to tell us about it would be best to rent it out (Mrs is keen, i am not as see no point in that really, would rather just get rid of the hassle of having two houses, one is quite enough)

Anyway, I was at work today, agent comes round to see house. It is on a new build estate and is a simple two bed ensuite semi with single parking space. bought for 150k back in early 2005. Now I had worked out looking at really run down 2 bed mid terrace on the worser roads nearby up for 139k-145k that I should be able to sell mine for about what the mrs sold for it. From my research land registry data vs sold subject to contract prices are very different.

Now this agent valued it at 175k and take 170k or if you wanted to sell it within 4 weeks put it on at 170k and take 165k

I did LOL when the Mrs rang me and told me that. The mrs said he was telling her that we are in one of the most desirable roads and that he has sold a lot on this estate so knows what it is worth. Mrs warmed to him but i think he is in dream land. I have been keeping a close eye on the market (as in daily) for a good 3 years... Probably longer than he has been an estate agent really.

But seriously? no wonder people don't get it yet when they have so called professionals coming through their door telling them exactly what they want to hear.

Also said he does fixed price fee. for putting it on at 170k it would be 2.5k

the insanity continues...

[montesquieu]

Well went to look at some new builds last weekend just out of curiosity really at what is on offer. These were a 3 bed detached with garage 225k and a 4 bed with garage 265k on a small rural Suffolk plot of about 8 houses. they had been planed to be built 3 years ago but the original developer went bust! So 3 years on a new builder comes in to complete them.

Overall, room sizes not too bad considering they are new builds... but as i am looking for a decent sized garden I was not impressed with such a small garden with no sunshine.

As me and the mrs are actively looking (I have the ''cash'', she has a house we currently live in that we would sell on once we find the right place, buy with my cash then sell on hers as and when as we do our work on the new place as we want something no chain, run down etc just to try and get it for a reasonable price, as most is so OTT)

So had to talk with the agent about ''our position'' as they call it and he wanted to come round and value our house (why I don't know, i told him i didn't need to sell it and wouldn't be until I got my new house) The mrs was keen as she wanted to see what the agent said it was worth and plus he was trying to tell us about it would be best to rent it out (Mrs is keen, i am not as see no point in that really, would rather just get rid of the hassle of having two houses, one is quite enough)

Anyway, I was at work today, agent comes round to see house. It is on a new build estate and is a simple two bed ensuite semi with single parking space. bought for 150k back in early 2005. Now I had worked out looking at really run down 2 bed mid terrace on the worser roads nearby up for 139k-145k that I should be able to sell mine for about what the mrs sold for it. From my research land registry data vs sold subject to contract prices are very different.

Now this agent valued it at 175k and take 170k or if you wanted to sell it within 4 weeks put it on at 170k and take 165k

I did LOL when the Mrs rang me and told me that. The mrs said he was telling her that we are in one of the most desirable roads and that he has sold a lot on this estate so knows what it is worth. Mrs warmed to him but i think he is in dream land. I have been keeping a close eye on the market (as in daily) for a good 3 years... Probably longer than he has been an estate agent really.

But seriously? no wonder people don't get it yet when they have so called professionals coming through their door telling them exactly what they want to hear.

Also said he does fixed price fee. for putting it on at 170k it would be 2.5k

the insanity continues...

I'd take him at his word, put it on for 4 weeks at £170k and take £165k ... make sure the paperwork gives him 4 weeks (ok 5) before you say bye bye.

If you don't need a quick sale you have nothing to lose.

[cybernoid]

Unqualified salesman talks crap, blimey. You know your area better than he does,it's your house, why not sell it without the parasite? It's cheaper than 2.5k to put it on right move, that's all he's going to do, and when people phone up you'll actually know the details of the house and be able to arrange viewings straight away without the estate agent acting as a messaging service you don't need.

Its just the usual nonsense, the guy wants your business, be it as a letting agent or sales agent for your property. His recommendations are for his benefit of course, not yours. Suprise the vendor with a higher than achievable price to get their business, that's a new one! Tedious little twunt. How much gel did he have in his hair? Spikes were what, 5 cm? That's industry standard.

[lurker07]

My trick with estate agents is to actually sound like you know what you are talking about (even if you only know a little it's almost always more than they know.

Disclosure: I rent and every year I easily negotiate no rise or a token 2% rise (not ideal but I don't have the inclination for a 25 hour conversation)

[Swansea Estate Agent]

Anyway, I was at work today, agent comes round to see house. It is on a new build estate and is a simple two bed ensuite semi with single parking space. bought for 150k back in early 2005. Now I had worked out looking at really run down 2 bed mid terrace on the worser roads nearby up for 139k-145k that I should be able to sell mine for about what the mrs sold for it. From my research land registry data vs sold subject to contract prices are very different.

The agent may not know the estate or have sold any properties on there even if he says differently. However, he was giving his opinion and opinions differ.

If I had a phone call from you and knew about properties on the market like you describe, then I would expect your property to be worth more than you paid for it unless your property is really run down too.

Why do you think that your property which is a semi on a new build estate should only be worth £5,000 more than a really run down mid terrace on a worse road?

I'm not from your area and do not pretend to know the market etc. in your area, but I would expect that you could sell for a little more than £150k. Perhaps not £170k, but certainly somewhere in-between.

His fee looks like 1.5% which is not too bad an average, but again I don't know the area. Fees are fees and can be negotiated. If you did decide to sell, then I would make an offer to the EA. Perhaps 1.5% if he sells within 4 weeks and for a price over x amount. After 4 weeks, the fee reduces to 1%.