sponge Posted September 20, 2011 Share Posted September 20, 2011 Ive seen this sumised alot and too have thought it for a very long time, well i finally have proof! i booked a veiwing on a property for this saturday, i was called back to confirm at 5.30pm this evening. "hi mr ............ yes weve just spoke to the vendor, and 1045 am is the time booked the vendor will be waiting for you". i got home from work and check rm not ten minutes ago to see this very house sstc!! status changed today!! i would love to know how many are fake like this, we knew but now i really know lol just thought id share that, i,ll report back after veiwing i intend to go in 20% below asking Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 20, 2011 Share Posted September 20, 2011 i intend to go in 20% below asking That's called the telling price, as opposed to the asking price. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted September 20, 2011 Share Posted September 20, 2011 Ive seen this sumised alot and too have thought it for a very long time, well i finally have proof! i booked a veiwing on a property for this saturday, i was called back to confirm at 5.30pm this evening. "hi mr ............ yes weve just spoke to the vendor, and 1045 am is the time booked the vendor will be waiting for you". i got home from work and check rm not ten minutes ago to see this very house sstc!! status changed today!! i would love to know how many are fake like this, we knew but now i really know lol just thought id share that, i,ll report back after veiwing i intend to go in 20% below asking I have seen similar in Swansea - ring up about X house that has been on the market 6 months or often longer. Moment I ring up I am told either it has gone SSTC or that someone else is interested. Then it changes to SSTC on various web portals, stays there for a short time before magically becoming availble again. Believe it or not but this has happened THREE times on the same house. Quote Link to comment Share on other sites More sharing options...
_w_ Posted September 20, 2011 Share Posted September 20, 2011 Ive seen this sumised alot and too have thought it for a very long time, well i finally have proof! i booked a veiwing on a property for this saturday, i was called back to confirm at 5.30pm this evening. "hi mr ............ yes weve just spoke to the vendor, and 1045 am is the time booked the vendor will be waiting for you". i got home from work and check rm not ten minutes ago to see this very house sstc!! status changed today!! i would love to know how many are fake like this, we knew but now i really know lol just thought id share that, i,ll report back after veiwing i intend to go in 20% below asking Nearly all of them. Good find. Quote Link to comment Share on other sites More sharing options...
grizzly bear Posted September 20, 2011 Share Posted September 20, 2011 I would just call agent back and say, I have seen that the house has gone SSTC on rightmore and we aren't interested in competing with anyone else, so probably best to let the other parties have the house and we'll not bother viewing at the weekend. Quote Link to comment Share on other sites More sharing options...
inflating Posted September 20, 2011 Share Posted September 20, 2011 Ive seen this sumised alot and too have thought it for a very long time, well i finally have proof! i booked a veiwing on a property for this saturday, i was called back to confirm at 5.30pm this evening. "hi mr ............ yes weve just spoke to the vendor, and 1045 am is the time booked the vendor will be waiting for you". i got home from work and check rm not ten minutes ago to see this very house sstc!! status changed today!! i would love to know how many are fake like this, we knew but now i really know lol just thought id share that, i,ll report back after veiwing i intend to go in 20% below asking The "game" - you've lost me, please explain what the agent hopes to gain by that? Doesn't it put a client off viewing if it's supposedly sold? Quote Link to comment Share on other sites More sharing options...
pl1 Posted September 20, 2011 Share Posted September 20, 2011 What's the Property Bee trick? Where it's relisted or something so the history get's erased? Quote Link to comment Share on other sites More sharing options...
andybee33 Posted September 20, 2011 Share Posted September 20, 2011 The "game" - you've lost me, please explain what the agent hopes to gain by that? Doesn't it put a client off viewing if it's supposedly sold? Surely it's just about 'fear of loss' - one of the most powerful human emotions ('I'd better put in a whacking offer or I might lose out'). Might work in a rampant bull market with super easy credit but to see them trying it now just proves what a bunch of retards most of them are. Luckily most EAs will be collecting trolleys in supermarket car parks soon!! Quote Link to comment Share on other sites More sharing options...
inflating Posted September 20, 2011 Share Posted September 20, 2011 Surely it's just about 'fear of loss' - one of the most powerful human emotions ('I'd better put in a whacking offer or I might lose out'). Might work in a rampant bull market with super easy credit but to see them trying it now just proves what a bunch of retards most of them are. Luckily most EAs will be collecting trolleys in supermarket car parks soon!! I see, ok. On the very few occasions I saw something cheap in the past 2 years, if it says sold or under offer I never viewed it. Every time I saw something I liked on Rightmoan, I'd see it gone in a day or so afterwards (all were repos, none returned to mkt afaik) Quote Link to comment Share on other sites More sharing options...
sponge Posted September 20, 2011 Author Share Posted September 20, 2011 What's the Property Bee trick? Where it's relisted or something so the history get's erased? yes ive seen that too i think they just relist and change the details ever so slightly to crreate a new listing Surely it's just about 'fear of loss' - one of the most powerful human emotions ('I'd better put in a whacking offer or I might lose out'). Might work in a rampant bull market with super easy credit but to see them trying it now just proves what a bunch of retards most of them are. Luckily most EAs will be collecting trolleys in supermarket car parks soon!! i beleive these to be tricks by rm sorry i shouldve clarified, as the ea had no idea, didnt mention a thing to me, and nor me to her. this house was on the market a few months back went sstc within a week just like now, then disapeared and has now come back on and done exactly the same within a week lol, as a buyer i really do feel in control ea,s kissing ass big time at the moment its our time people lol Quote Link to comment Share on other sites More sharing options...
Mr. Miyagi Posted September 20, 2011 Share Posted September 20, 2011 Surely it's just about 'fear of loss' - one of the most powerful human emotions ('I'd better put in a whacking offer or I might lose out'). Might work in a rampant bull market with super easy credit but to see them trying it now just proves what a bunch of retards most of them are. Luckily most EAs will be collecting trolleys in supermarket car parks soon!! If it's used as a tactic as by the EA to encourage a potential buyer that there is an offer on the table when there is not and it could deceive or is likely to deceive the average consumer and it causes or is likely to cause the average consumer to take a transactional decision he would not have taken otherwise, then it could well be a breach of the Consumer Protection from Unfair Trading Regulations 2008. This would apply to any 'marketing or sales technique' such as a phantom buyer. The only way you will ever know if that is the case is make a complaint to the local TS and have them investigate. EAs need to keep records of any offers. Quote Link to comment Share on other sites More sharing options...
sponge Posted September 20, 2011 Author Share Posted September 20, 2011 If it's used as a tactic as by the EA to encourage a potential buyer that there is an offer on the table when there is not and it could deceive or is likely to deceive the average consumer and it causes or is likely to cause the average consumer to take a transactional decision he would not have taken otherwise, then it could well be a breach of the Consumer Protection from Unfair Trading Regulations 2008. This would apply to any 'marketing or sales technique' such as a phantom buyer. The only way you will ever know if that is the case is make a complaint to the local TS and have them investigate. EAs need to keep records of any offers. very interesting thanks for posting Mt Quote Link to comment Share on other sites More sharing options...
sponge Posted September 20, 2011 Author Share Posted September 20, 2011 If someone else wants it then it becomes even more desirable and you might miss out. Have you never seen people (mainly women - sorry) fighting over items in the sales? maybe this has been common practice, but is blatant to us now we know houses are not selling, shows desperation if nothing else which is GREAT Quote Link to comment Share on other sites More sharing options...
inflating Posted September 20, 2011 Share Posted September 20, 2011 If someone else wants it then it becomes even more desirable and you might miss out. Have you never seen people (mainly women - sorry) fighting over items in the sales? Yes, some also fight over taken men - of course I have seen plenty SSTC go back for sale but none that seemed good value, the repos that I sometimes wanted to view before I went abroad go SSTC and none went back on the mkt much to my annoyance At the moment I see flats selling (ie shown as SSTC) in some areas, not much else, houses sticking except in the supposedly top areas ABove just my quick evaluation, could be wrong Quote Link to comment Share on other sites More sharing options...
libspero Posted September 20, 2011 Share Posted September 20, 2011 One of our local EA's is always re-listing all their properties.. annoying as hell because you lose all your favourites as well as the PB info. The only time I suspected an EA of playing a game was when I favourited a property then the next day it went "under offer" as if to motivate me to make an offer. I ignored it. A few weeks later it was relisted as available again. No way of knowing whether it really was genuine or not but it all seemed a bit coincidental in an area where very little happens. Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 20, 2011 Share Posted September 20, 2011 The "game" - you've lost me, please explain what the agent hopes to gain by that? Doesn't it put a client off viewing if it's supposedly sold? If the "game" wasn't profitable on average (at some point in history) then they wouldn't do it. I suspect it helps chivvy people along to "win" the property, get their **** into gear to complete the deal, and to pay a price close to the seller's expectations. I'd even suspect that sometimes something going SSTC actually attracts interest in the land of gazumpers, in the same way that it is easier to get a girlfriend if you already have one. A lot of human psychology is far from rational, and this applies to home buyers in spades. If you are reading HPC you are probably of abnormal psychology - these tricks aren't aimed at you. Quote Link to comment Share on other sites More sharing options...
FIGGY Posted September 20, 2011 Share Posted September 20, 2011 Its a classic selling tool called "creating burning desire" its just in this case they used SSTC to do it rather than a real USP, its sad and just shows how EA are the worst kind of low rent "sales" people. As an owner of a sales business it makes me feel sick to think that they may be in the same box career wise as me Quote Link to comment Share on other sites More sharing options...
inflating Posted September 20, 2011 Share Posted September 20, 2011 If the "game" wasn't profitable on average (at some point in history) then they wouldn't do it. I suspect it helps chivvy people along to "win" the property, get their **** into gear to complete the deal, and to pay a price close to the seller's expectations. I'd even suspect that sometimes something going SSTC actually attracts interest in the land of gazumpers, in the same way that it is easier to get a girlfriend if you already have one. A lot of human psychology is far from rational, and this applies to home buyers in spades. If you are reading HPC you are probably of abnormal psychology - these tricks aren't aimed at you. As you've gathered it just puts me off, I hate the thought of wasting money on surveys and conveyancing if someone else is likely to bid - I prefer to look elsewhere Quote Link to comment Share on other sites More sharing options...
sponge Posted September 20, 2011 Author Share Posted September 20, 2011 As you've gathered it just puts me off, I hate the thought of wasting money on surveys and conveyancing if someone else is likely to bid - I prefer to look elsewhere +1 and i will be doing so if infact this is the case, we shall see, im just testing the water at the moment, what are the average fee,s at the monent? thanks in advance infalting Quote Link to comment Share on other sites More sharing options...
aussieboy Posted September 20, 2011 Share Posted September 20, 2011 As you've gathered it just puts me off, I hate the thought of wasting money on surveys and conveyancing if someone else is likely to bid - I prefer to look elsewhere Quite. There are so few houses on my searches that have flikced SSTC and back that if this practice does happen it's very rare. At least in the areas where I am keeping an eye. Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 20, 2011 Share Posted September 20, 2011 As you've gathered it just puts me off, I hate the thought of wasting money on surveys and conveyancing if someone else is likely to bid - I prefer to look elsewhere In Australia you cannot gazump. What they do here is use the interest of a second buyer to force the issue on the first interested party to sign a contract. (Contracts are signed here almost immediately - gazumping just isn't possible.) The last 3 houses we have looked at, we've turned up for viewing only to be told that the place just went under contract a couple of hours ago. (So why the feck didn't you call us instead of wasting our time?!) The next sentence that comes out of their mouths makes everything clear: "I've bought a few other listings for you to look at if you have the time now." Our response is always "no thank you." The look on the their faces always suggests that this is an unexpected response. Hopefully, we are beginning to train the local agent. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted September 20, 2011 Share Posted September 20, 2011 In Australia you cannot gazump. What they do here is use the interest of a second buyer to force the issue on the first interested party to sign a contract. (Contracts are signed here almost immediately - gazumping just isn't possible.) The last 3 houses we have looked at, we've turned up for viewing only to be told that the place just went under contract a couple of hours ago. (So why the feck didn't you call us instead of wasting our time?!) The next sentence that comes out of their mouths makes everything clear: "I've bought a few other listings for you to look at if you have the time now." Our response is always "no thank you." The look on the their faces always suggests that this is an unexpected response. Hopefully, we are beginning to train the local agent. So are those houses under contract actually for sale, or are they just used as a sales technique to lure you in to look at stuff they cannot sell? Perhaps such houses were not even actually for sale? Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 20, 2011 Share Posted September 20, 2011 (edited) So are those houses under contract actually for sale, or are they just used as a sales technique to lure you in to look at stuff they cannot sell? Perhaps such houses were not even actually for sale? No. They are definitely for sale. Local area so we know what is and isn't actually for sale and what does get sold. (Least cynical version) What happens is someone will be interested but hasn't committed. We ring up the EA on Monday afternoon to arrange a viewing on Tuesday morning, so EA rings up Mr and Mrs Undecided who then agree to sign the contract in the morning before we can view or make an offer. Part of the reason this happens so regularly is that we are only interested in properties that are good value. (Of course, this is pretty rotten for the seller and not what they would expect from their agent as surely it is in the sellers interest for a bidding war to ensue? However, as has been made clear on here a number of times, it is in the interest of the EA to sell the property, not to waste a lot of effort squeezing out the last 5000 for the seller.) (Cynical version) Of course it could be that the house was under contract before we contacted the EA, and they have left them on as bait, though my experience has been that when a contract has been signed they are usually pretty quick to put that information on the appropriate websites/in their window. Edited September 20, 2011 by Tiger Woods? Quote Link to comment Share on other sites More sharing options...
_w_ Posted September 20, 2011 Share Posted September 20, 2011 The "game" - you've lost me, please explain what the agent hopes to gain by that? Doesn't it put a client off viewing if it's supposedly sold? Controlling the flow is as good as controlling the supply. Reduce the flow, you've done the same as reducing the supply. Quote Link to comment Share on other sites More sharing options...
General Melchett Posted September 21, 2011 Share Posted September 21, 2011 I would just call agent back and say, I have seen that the house has gone SSTC on rightmore and we aren't interested in competing with anyone else, so probably best to let the other parties have the house and we'll not bother viewing at the weekend. No laughing matter, this is exactly what everyone should do, then this sharp practice (and that's being generous) would soon die out. Quote Link to comment Share on other sites More sharing options...
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