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The Great ‘under Offer’ Trick

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I noticed on a local estate agents website recently over about a week period several properties came ‘under offer’ in the price bracket and area I’m monitoring. A range of emotions swept over me including alarm, dismay, panic, apathy, urgency etc.

I notice over the last couple of days all but two out of about 10 have mysteriously had the ‘under offer’ removed. A cynic might say it was a temporary ploy to create urgency to garner sales. Or it could be a mistake; or it could well be genuine. As they are Estate Agents I like to think it was a deliberate ploy. And I got to say it nearly worked on me.

It could be a useful tactic by EA’s in desperate times. I do it to save my business.

Has anyone experienced this?

Maybe we should compile a list of EA tricks to watch out for.

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A common trick is to change the address of a property into something more desirable. E.g. if a house is near the border of desirable suburb A, but is actually in suburb B, then it might get listed as suburb A even though it is not.

Billy Shears

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A common trick is to change the address of a property into something more desirable. E.g. if a house is near the border of desirable suburb A, but is actually in suburb B, then it might get listed as suburb A even though it is not.

Like many of the houses in my area, Carshalton, that are listed as being in Carshalton. When they are actually in the "ever popular St Helliers Estate"..... or as I prefer to refer to it as "the ever popular chav infested hell hole"

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A common trick is to change the address of a property into something more desirable. E.g. if a house is near the border of desirable suburb A, but is actually in suburb B, then it might get listed as suburb A even though it is not.

Billy Shears

Yep - according to Foxtons, Dulwich village covers most of SE London.

EA tricks work both ways. While flat hunting, an EA asked me to view a studio which (at a frankly surreal £250K) was way over my budget. He suggested that I offered £150K because, in his words, "she [the vendor] is taking the p***. She needs a reality check." :D

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Guest Bart of Darkness

I used to be very trusting about things like SSTC or "Under Offer".

Now I don't even believe that "Sold" means "Sold" until somebody actually moves in.

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A common trick is to change the address of a property into something more desirable. E.g. if a house is near the border of desirable suburb A, but is actually in suburb B, then it might get listed as suburb A even though it is not.

Billy Shears

Yes, It is amasing how the desireable areas of a town expand and the bad areas shrink in size when there is an EA around.

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I've witnessed this phenomena of late, though, they haven't reversed anything yet... :(

Usually a property goes from 'Under Offer' to 'Sale Agreed' in a matter of days. Recently, the 'Under Offers' have been hanging around for weeks and months even...

Does this suggest that the offers aren't very appealing?

It could be you or me offering 30% under asking price. Not a hope in hell of being accepted but it might draw out someone who panics and offers nearer asking price...

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Yes, It is amasing how the desireable areas of a town expand and the bad areas shrink in size when there is an EA around.

Wood Green Borders, anyone? How bad can an area be that it aspires to Wood Green?

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Yes. Brixton can easily become Dulwich - forcing Dulwich to fight back with Dulwich Village!

Dulwich - what a place. Sandwiched between CSI Brixton and Peckham (by day a mugger's paradise by night a mobile firing range).

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I noticed on a local estate agents website recently over about a week period several properties came ‘under offer’ in the price bracket and area I’m monitoring. A range of emotions swept over me including alarm, dismay, panic, apathy, urgency etc.

I notice over the last couple of days all but two out of about 10 have mysteriously had the ‘under offer’ removed. A cynic might say it was a temporary ploy to create urgency to garner sales. Or it could be a mistake; or it could well be genuine. As they are Estate Agents I like to think it was a deliberate ploy. And I got to say it nearly worked on me.

It could be a useful tactic by EA’s in desperate times. I do it to save my business.

Has anyone experienced this?

Maybe we should compile a list of EA tricks to watch out for.

Talking of ploys. In Shrewsbury. there are numerous residential props up for sale 75% of which, I estimate, are indicated SOLD.

I've convinced myself these are not genuine sales but a sales ploy giving the impression the EA is busy and teh markey is buoyant. No evidence of this of course, but its what I'm convinced of. :blink:

Edited by Baz63

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I notice over the last couple of days all but two out of about 10 have mysteriously had the ‘under offer’ removed.

It might have been a prospective buyer making ten offers and seeing who is going to lower thier price the most

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Talking of ploys. In Shrewsbury. there are numerous residential props up for sale 75% of which, I estimate, are indicated SOLD.

I've convinced myself these are not genuine sales but a sales ploy giving the impression the EA is busy and teh markey is buoyant. No evidence of this of course, but its what I'm convinced of. :blink:

Easy to find out. Walk into the estate agent in your best threads, and have a look around. After they fawn on you a bit, say that there were some properties that you were interested in, naming some of the sold properties, and you were hoping they'd have something similar. Say that the other properties aren't what you are looking for and start walking out.

Billy Shears

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A range of emotions swept over me including alarm, dismay, panic, apathy, urgency etc.

I usually feel relieved that we no longer have the option to buy a place that's been tempting us to stray from our belief that we'll get more for our money in the future. There'll be other places I keep telling myself .....

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I find it quite unlikely that an EA would falsely claim a property was under offer because in doing so they would be discouraging a potential buyer from viewing it (e.g. viewer sees property, sees it's under offer, forgets about it; Potential sale lost.)

You will know if a house is really under offer or not by asking to view it. If the estate agent turns you down and says it is currently off the market, you know for sure it is under offer (because they are not going to turn people away if it wasn't).

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Yep - according to Foxtons, Dulwich village covers most of SE London.

EA tricks work both ways. While flat hunting, an EA asked me to view a studio which (at a frankly surreal £250K) was way over my budget. He suggested that I offered £150K because, in his words, "she [the vendor] is taking the p***. She needs a reality check." :D

Including half the mean streets of "up and coming" Peckham!

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Brixton has also, surprise surprise, become Clapham.

does Brixton exist anymore beyond the borders of the Train Station and cold harbour lane? Or is that Upper Brixton leading to Tulse Hill?

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A common trick is to change the address of a property into something more desirable. E.g. if a house is near the border of desirable suburb A, but is actually in suburb B, then it might get listed as suburb A even though it is not.

Billy Shears

Classic example is in Liverpool!

An area called Gateacre which is NICE is connected to Woolton (which is nice) and Halewood (so so). There is road that connects all these districts.

Woolton is Liverpool City Council and has White Street signs with Black writing. Halewood is Knowlsey Borough Council and has GREEN street signs and white lettering. It's so easy to spot!

I went to see a house advertised as Woolton. A 3 bed semi new build. Reality is it was a shoebox that was worth £50 max! The irony is, just before you turn into the estate you pass a big sign saying 'WELCOME TO KNOWSLEY'! And all the signs on the estate were WHITE-ON-GREEN!

KNOB-HEADS!!! They do this ALL the time to justify the crap prices!

TB

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I find it quite unlikely that an EA would falsely claim a property was under offer because in doing so they would be discouraging a potential buyer from viewing it (e.g. viewer sees property, sees it's under offer, forgets about it; Potential sale lost.)

You will know if a house is really under offer or not by asking to view it. If the estate agent turns you down and says it is currently off the market, you know for sure it is under offer (because they are not going to turn people away if it wasn't).

there ya go, from the horses mouth <_<

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Can anybody tell me what

"sold subject to contract" similar req

"under offer" similar req

mean?

Check out this link, go to Property for sale and search on "all towns"

http://www.mm-estate.co.uk/

a very large number of properties have those comments by them.

Are estate agents encouraging gazumping?

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Yes. Brixton can easily become Dulwich - forcing Dulwich to fight back with Dulwich Village!

:lol:

Brixton has also, surprise surprise, become Clapham.

Yes, but Clapham has become Clarm. <_<

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  • 301 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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