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Exiled Canadian

New Ea Tactic?

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Just received an email from an EA announcing a price reduction in an area we are monitoring at the moment.

Interestingly when I clicked through the link the house is shown as "under offer".

If this a new EA trick? Vendor accepts a lower price to get a deal away - EA quickly relists property at the newly agreed price on RM and to database to see if they can shake out any interest at the new lower price and get an auction started.

Worth watching for..........

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It's risky on the EA part because they could lose the sale. You could call them up and see if they'll let you view the property and that'll give you a better sense of what they're playing at. Although I'd expect to be shafted by the EA if they let me view after an offer accepted.

Do you know if the property is exclusive to that EA? maybe they are marketing it to snipe the commission from a rival. Perhaps they are trying to get the original buyer to panic and offer more.

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It's been kicking around a while (still well overpriced in my view). I was wondering whether the offeror is in a chain or is yet to get a mortgage (hence "Under Offer" vs Sold STC).

It's not a dual agency situation as far as I can work out.

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If the buyer isn't very good or offered low then they may still be looking to either replace or put pressure on them. It's not uncommon for the EA to gazump the buyer.

We put an offer in yesterday £25k below an offers in Excess, its up for considerations and EA said if you offer more then I can stop people viewing it. I laughed and said "you want me to bid against myself". That's a new tactic they used on us <_<

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I ahve been taking to a couple of agents recently, most seem like regular folks turning out to their day job. All they want to do is make a sale, there is no intention to help the seller achieve best price and they will do what little they can to get an offer.

From the looks of it the **** has fallen out of the market. I went to view IMO a bargain priced executive property in a premium location and was one of three people who had viewed it. Earlier in the year people would have been queuing up at an open house type of event.

It's a buyers market now and the agents know it, all they need to do is convince vendors to sell quickly before prices fall. Can't say that the media or Rightmove are heling with that one.

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I ahve been taking to a couple of agents recently, most seem like regular folks turning out to their day job. All they want to do is make a sale, there is no intention to help the seller achieve best price and they will do what little they can to get an offer.

From the looks of it the **** has fallen out of the market. I went to view IMO a bargain priced executive property in a premium location and was one of three people who had viewed it. Earlier in the year people would have been queuing up at an open house type of event.

It's a buyers market now and the agents know it, all they need to do is convince vendors to sell quickly before prices fall. Can't say that the media or Rightmove are heling with that one.

Yea its a buyers market right now, Today I've had over 10 emails of price reductions which is a first. Start of the year when we began it was madness, properties were flying off the shelves same day. I find the older EA's more reasonable, currently we have an annoying 22 year old EA that is pulling out all the stops for his interest, wants me to bid against myself, doesn't declare information until I've made an offer and trying to make me feel guilty for offering low even though its being considered by seller. I feel like his head is stuck in the earlier market and I really wanna swap him out or go directly to the vendor.

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Yea its a buyers market right now, Today I've had over 10 emails of price reductions which is a first. Start of the year when we began it was madness, properties were flying off the shelves same day. I find the older EA's more reasonable, currently we have an annoying 22 year old EA that is pulling out all the stops for his interest, wants me to bid against myself, doesn't declare information until I've made an offer and trying to make me feel guilty for offering low even though its being considered by seller. I feel like his head is stuck in the earlier market and I really wanna swap him out or go directly to the vendor.

Must be quite annoying seeing vendors with high expectations, then the otherside you have buyers with limited budgest in most cases just 5% of the asking price the seller won't budge from.

I guess there's not a lot an EA can do at the end fo the day if sellers are saying i'm not going to sell for less than X and buyers don't have the budget. Most sellers will cut prices eventually, but need to feel the disapointment of no viewings for months on end.

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I ahve been taking to a couple of agents recently, most seem like regular folks turning out to their day job. All they want to do is make a sale, there is no intention to help the seller achieve best price and they will do what little they can to get an offer.

From the looks of it the **** has fallen out of the market. I went to view IMO a bargain priced executive property in a premium location and was one of three people who had viewed it. Earlier in the year people would have been queuing up at an open house type of event.

It's a buyers market now and the agents know it, all they need to do is convince vendors to sell quickly before prices fall. Can't say that the media or Rightmove are heling with that one.

Doesn't feel like a buyers market near us. (We're not that far from you, Just north of Bristol)

We're trying to move to a bigger property, and have had 90% offers rejected on places. A couple of which have been on the market upto a year, the owners are sat on £100k-£200k of I earned equity yet won't accept below asking price.

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Doesn't feel like a buyers market near us. (We're not that far from you, Just north of Bristol)

We're trying to move to a bigger property, and have had 90% offers rejected on places. A couple of which have been on the market upto a year, the owners are sat on £100k-£200k of I earned equity yet won't accept below asking price.

Slight typo, unearned equity!!!

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If the buyer isn't very good or offered low then they may still be looking to either replace or put pressure on them. It's not uncommon for the EA to gazump the buyer.

We put an offer in yesterday £25k below an offers in Excess, its up for considerations and EA said if you offer more then I can stop people viewing it. I laughed and said "you want me to bid against myself". That's a new tactic they used on us <_<

I had a similar experience yesterday in S Herts. Asked to view a three-bedroom end of terrace which was listed last April, re-listed in October and price cut from £325k to OEIO £300k in December. By a remarkable coincidence the vendor had received an offer of the asking price that day, but was leaving the house on the market until the survey. Would I like to offer more? (No.)

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