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Very Aggressive Ea Tactics - Sign Of Fear ?


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homeowners can get on with their lives, whereas, renters cant as they are scum....unless:

"The sale of Woodcroft is by no means a 'fire sale'; however, getting on with their life is more important than waiting for a premium price"

That`s right, the working title of the NEXT sales pitch is "Fire Sale" by I. A. DESPERATE :lol:

To be fair to the seller, they are doing EXACTLY the right thing at this stage of the market?

Edited by dances with sheeple
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I assumed it was a footballer's place until I saw the photo of the book-shelves :D

Had I won the lottery last weekend I would have bid, but only £1,999,999.

Sounds perfect to me, 8 bed, 5 bath (I think?), 3 kitchens, multi-car garage, heated pool and just down the road from my 2 bed terrace.

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Perhaps we need a HPC version of those profile interpretations you see on dating sites. You know, "bubbly" = fat, "fun loving" = alcoholic etc.

Offers in excess of = dreaming of the days prices were bid up over asking

Fixed price = please stop offering us less than what we want

Guide price = we know we won't get this but we don't want to admit what we think it is worth

No offers = Hopefully if we sound stern people will do what we tell them

Although you could probably just boil it down to:

Offers in excess of = delusional

Fixed price = delusional

Guide price = delusional

No offers = delusional

For sale = delusional

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EAs are going to approach selling in different ways.

For every uppity hostile listing demanding don't insult seller with their offers, the seller believing they can hold the market to hostage, there will be increasing number of pleading EA descriptions to balance it out.

Tones change. For example: http://www.rightmove.co.uk/property-for-sale/property-33717502.html

(Found by HPC member Needle, and originally posted in the Regional Forums a couple of days ago).

"A remarkable opportunity to acquire one of the finest homes in Hale at an extremely competitive price. Woodcroft was valued at over £5m at the peak of the housing market in 2007. It first came to the market at what all agents considered to be a very realistic £3.75m in 2010. The house was withdrawn from the market because of the inactivity in the market and the vendors postponed their move. In Spring 2012, we were instructed to remarket the property at what we believed to be a very realistic price of just under £3m. Having failed to attract a buyer by mid August 2012, the vendors have decided to adopt an extremely innovative way of marketing by inviting best offers over £2m by 31/10/2012. The sale of Woodcroft is by no means a 'fire sale'; however, getting on with their life is more important to the owners than waiting for a premium price. As they purchased the property over 15 years ago, when house prices were generally much lower, the price achieved today doesn't really matter so long as they can be satisfied they have achieved the best price possible in today's market."

I was called barmy for suggesting mandatory sell by dates, to encourage realistic initial pricing. I don't think many people understood the idea.

Radical new proposal - price to sell or GTFO

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"A remarkable opportunity to acquire one of the finest homes in Hale at an extremely competitive price. Woodcroft was valued at over £5m at the peak of the housing market in 2007. It first came to the market at what all agents considered to be a very realistic £3.75m in 2010. The house was withdrawn from the market because of the inactivity in the market and the vendors postponed their move. In Spring 2012, we were instructed to remarket the property at what we believed to be a very realistic price of just under £3m. Having failed to attract a buyer by mid August 2012, the vendors have decided to adopt an extremely innovative way of marketing by inviting best offers over £2m by 31/10/2012. The sale of Woodcroft is by no means a 'fire sale'; however, getting on with their life is more important to the owners than waiting for a premium price. As they purchased the property over 15 years ago, when house prices were generally much lower, the price achieved today doesn't really matter so long as they can be satisfied they have achieved the best price possible in today's market."

Hi

thx - new to me! The term "realistic" is a bit overused... "very realistic £3.75m / Spring 2012 a very realistic £3m" - prolly why they changed the £2m to "extremely innovative" rather than "very realistic" now.

EDIT: sense :)

Edited by dryrot
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You know, if I was flogging my house for £2m, I'll want the EA to take photos of the place that were in focus, and maybe made the house look light and airy, rather than dark and dingy...

I think EAs are at the point where they don't want time wasters. We were asked to provide proof of funds before they put the offer in on one place. Even so, saying it blatant and outright is a tad rude,and smacks a little bit of desperation.

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Perhaps we need a HPC version of those profile interpretations you see on dating sites. You know, "bubbly" = fat, "fun loving" = alcoholic etc.

Offers in excess of = dreaming of the days prices were bid up over asking

Fixed price = please stop offering us less than what we want

Guide price = we know we won't get this but we don't want to admit what we think it is worth

No offers = Hopefully if we sound stern people will do what we tell them

Although you could probably just boil it down to:

Offers in excess of = delusional

Fixed price = delusional

Guide price = delusional

No offers = delusional

For sale = delusional

:lol::lol: Very good. How were all the homeowners and "homeowners" to know it was a property bubble though? Poor things.

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That`s right, the working title of the NEXT sales pitch is "Fire Sale" by I. A. DESPERATE :lol:

To be fair to the seller, they are doing EXACTLY the right thing at this stage of the market?

You have to concede that. It's exactly the right thing to do. The question is whether whether they'll have to return AGAIN to market with their innovative selling tactic, but with offers over an even lower level. Below the higher 7% stamp duty threshold. That didn't exist in 2010, and perhaps they would have sold if they'd been more realistic back then.

Anyway they're back to market. Another seller who previously snubbed their nose up in 2010 at not being able to sell for what they wanted, now jolted into returning, as the market continued falling for around them in the meantime. Need more of these sellers coming back to market.

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Express Estate Agents is a specialist agent that claims it will market your house at an absurdly low price and thus attract interest, and thus severals buyers competing to buy and therefore paying much more than the asking price. But I think it more likely their low asking prices will set a new ceiling for the market and thus help bring it down. I'm not sure how they work - there is a lot of comment on the Internet about them - if they get a low-ball offer, they may try to encourage the vendor to accept it.

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This is all guff, trying to add an air of aggressive urgency, basically the vendor has been getting more realistic offers, called the agent and had a moan, so they put this load of tosh on to placate them, utter nonsense.

I have seen similar things, last one was something like " NO OFFERS!!" ...I did :lol: If I can't make an offer how do you expect to sell it then...

You are probably expected to pay the asking price plus about 10 more grand as a gesture of good will.

:)

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You have to concede that. It's exactly the right thing to do. The question is whether whether they'll have to return AGAIN to market with their innovative selling tactic, but with offers over an even lower level. Below the higher 7% stamp duty threshold. That didn't exist in 2010, and perhaps they would have sold if they'd been more realistic back then.

Anyway they're back to market. Another seller who previously snubbed their nose up in 2010 at not being able to sell for what they wanted, now jolted into returning, as the market continued falling for around them in the meantime. Need more of these sellers coming back to market.

Yes, I wonder how many are now kicking themselves for not having knocked off 15 or 20% back then, getting the pain over and done with so to speak? It can`t feel comfortable NEEDING to sell and move on with your life in an environment where even Tesco profits are down?

Edited by dances with sheeple
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Another dark trick EA are conjuring nowadays:

I have been tripled (quadrupled?)-booked at a few viewings, perhaps in a bid from the EA to make people think the house is in high demand while lowering the requirement on unqualified EA labour, and without organising an outright group viewing.

It's odd enough when several people turn up at your "ten-to-three" exclusive viewing, but when somebody arrive saying "I've been told I have an appointment at 10 to 3", then it's clear enough what little game they are playing.

:angry: :angry: :angry:

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The ASA were all over them like a rash to stamp out their misleading pricing. After someone complained they had an offer rejected.

since the ASA felt their ****, whenever i see "express estate agency" on an rightmove ad i just read it as "don't bother, it's never what it seems" and I move on. I watch a particular town right now, and have everything saved except their property which appeared two weeks ago.

Edited by hirop
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House on next door to me - owner bought it 2 years ago for 230K, now has it on for 265K despite never living in it.

A week ago he had a huge row with the EA in the back garden. He wanted to know why it had not sold despite being on the market for 18 months.

His brother popped around yesterday. I suggested that the price was stupid in the current market.

What was the agent's response?

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With regards to the op: this basically why I left Reading. I didn't especially like the town and it's expensive. It literally had nothing to offer me.

Half a million quid for a house in Tilehurst? ****** me.

I live south of reading ish and although this is not in my search area looked only a little over priced, but then Tilehurst is probably the cheapest part of Reading so maybe it is lol.

All I know is that Reading is cheaper than my location, makes you sick doesnt it!

This week I am starting to consider just giving in and buying somewhere, if interest rates are going to stay this low may-as-well take advantage now! I can get the best rates due to level of deposit etc.....and even if prices dip then i can convince myself that at least some of it was from majic HPI fairy dust money in the first place anyway!

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It is every HPCers duty to put in low bids as it helps set EA and vendor expectations. I always put in offers around 20% off asking price - on the assumption that 10% is markup to allow the buyer to think they have a good deal so anything above that is where the real gravy is.

Most will turn you down. But the offer I had accepted was 17% off the latest asking price (and 31% off their initial asking price in May) - but they were highly motivated to sell so they went for it.

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I live south of reading ish and although this is not in my search area looked only a little over priced, but then Tilehurst is probably the cheapest part of Reading so maybe it is lol.

All I know is that Reading is cheaper than my location, makes you sick doesnt it!

This week I am starting to consider just giving in and buying somewhere, if interest rates are going to stay this low may-as-well take advantage now! I can get the best rates due to level of deposit etc.....and even if prices dip then i can convince myself that at least some of it was from majic HPI fairy dust money in the first place anyway!

Then when prices fall, and rates shoot up, you are left with a big chunk of debt you didn`t need to take on?

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I live south of reading ish and although this is not in my search area looked only a little over priced, but then Tilehurst is probably the cheapest part of Reading so maybe it is lol.

All I know is that Reading is cheaper than my location, makes you sick doesnt it!

This week I am starting to consider just giving in and buying somewhere, if interest rates are going to stay this low may-as-well take advantage now! I can get the best rates due to level of deposit etc.....and even if prices dip then i can convince myself that at least some of it was from majic HPI fairy dust money in the first place anyway!

I can totally understand your thinking.

Renting in that part of the UK is quite simply horrible. There are too many tenants and would be tenants, and too many horrible dwellings going at horrible prices.

We were considering the same.

Then we stood back and realised that we didn't have to actually live in the area.

Can you relocate?

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I can totally understand your thinking.

Renting in that part of the UK is quite simply horrible. There are too many tenants and would be tenants, and too many horrible dwellings going at horrible prices.

We were considering the same.

Then we stood back and realised that we didn't have to actually live in the area.

Can you relocate?

Where we live is pretty nice, but the house itself could do with a fair bit of maintenance, although I think the price we are paying is fairly ok considering the region and comparable properties.

The only trouble about relocating is its difficult to get two good jobs with equivalent pay at the same time etc!

I am also starting to think that they will do everything possible to not let prices drop, and I can sort of see why, I would try the same in their position, flatline and hope inflation erodes the debt....but this approach does my savings no good lol

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Where we live is pretty nice, but the house itself could do with a fair bit of maintenance, although I think the price we are paying is fairly ok considering the region and comparable properties.

The only trouble about relocating is its difficult to get two good jobs with equivalent pay at the same time etc!

I am also starting to think that they will do everything possible to not let prices drop, and I can sort of see why, I would try the same in their position, flatline and hope inflation erodes the debt....but this approach does my savings no good lol

It might not be as hard as you think.

This is exactly what we did.

My misses is a teacher and is on a National pay scale - so it was a no brainer for her.

I however thought I'd have to take a significant pay cut. Not the case. I got offered a job paying 3k more annually, but I actually turned it down as I didn't feel it was for me.

I accepted a job for the same money, but a much shorter commute and way more interesting and fun.

We're a lot happier since leaving Reading and have genuinely got a better quality of life now.

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