Estate agent issue...

[asterix]

Mags! Have you considered selling your own house?I haven't a clue about it, but know of people who have sold successfully, quickly and with both parties getting a good deal!

Have a look at this choice of sites!

http://www.bing.com/search?q=selling+your+own+house+in+scotland&go=&form=QBRE&filt=all

Well, who else's house could he sell?

WRT agents, you need to get opinions from several. Last house I sold they 'sold' it suspiciously quickly having done zilch advertising and valued it at what we thought was on the low side for the area. Fortunately the buyer was awkward about things so I didn't feel at all bad about pulling the plug and selling elsewhere at 10% more.

 

[gavintc]

Mags, the 20% over asking is in a rising market. I do not know the Glasgow market. My brother is a property solicitor in Edinburgh. The majority of his sales are fixed price and advises clients who are buying through him to offer below asking price. Apparently, it is relatively rare for an offer to go to a closing date. In addition, the closing date is normally set once you have 'notes of interest' implying competition from the market place. I think you are being badly advised.

 

[Crackle]

Mags, the 20% over asking is in a rising market. I do not know the Glasgow market. My brother is a property solicitor in Edinburgh. The majority of his sales are fixed price and advises clients who are buying through him to offer below asking price. Apparently, it is relatively rare for an offer to go to a closing date. In addition, the closing date is normally set once you have 'notes of interest' implying competition from the market place. I think you are being badly advised.

Yeah, that's kinda what I wanted to say but don't know the Scottish market well enough to clearly understand what the implications of so many at fixed price meant.

I'd agree, sounds like bad advice. Also don't forget, if you sell for less, you buy for less.

Fingers crossed for you and go see some more agents.

 

[magnatom]

Mags, the 20% over asking is in a rising market. I do not know the Glasgow market. My brother is a property solicitor in Edinburgh. The majority of his sales are fixed price and advises clients who are buying through him to offer below asking price. Apparently, it is relatively rare for an offer to go to a closing date. In addition, the closing date is normally set once you have 'notes of interest' implying competition from the market place. I think you are being badly advised.

Actually when we first went to the estate agent we were told 10-15% over asking. 15% was fine 10% not so great. then we got the home report and it came out quite good, so I suppose our expectations of getting the 15% were raised and so we decided to go ahead and market the property.

The 20% was what the agent said at first to my wife.

What annoys me the most is that they are suggesting a price that is below valuation. Surely that when still on for offers over it is their duty to try and get the highest price (at least valuation) and not to suggest to prospective viewers that they should consider below?

 

[magnatom]

Oh and it is probably too late for other agents. As I said earlier there is a clause that ties you in.

 

[Greedo]

We are trying to sell our house (oh what fun) and after receiving some notes of interest we went to a closing date (yesterday). Unfortunately none of the interested parties decided to offer.

Yesterday I had a chat with the estate agen who suggested that we go to a fixed price below the home report valuation. I can understand this as our valuation was just above the current starting point for stamp duty.

The problem is, that this will make buying the house we want very difficult, and so my wife and I want a day or two to consider our options. Therefore, we didn't give them the go ahead to change to fixed price or to suggest that the lower price would be acceptable.

However, my wife phoned the estate agent today posing as a 'prospective buyer' to see what the agent is saying at the moment. Apparently, they are suggesting that the lower price would be acceptable to us. Surely they have no right to say that, as we have not given them the go ahead.

I will be phoning them up tomorrow, once we have made our decision. I just wondered where I stand with this issue. Have they broken their contract with us? Is it worth pulling them up about this?

Where's your house mate. I'm always looking for stuff. Could be interested and do a deal thus avoiding estate agents fees.

Other than that the only thing I would say is if you have 3 notes of interest then you go to the closing date. You should have at least had one offer.

Regarding the ES comments to your wife, they will say or do anything to get a punter through the door at the moment. They just hope when the person is through the door then they fall in love and want to make an offer.

You've no real comback as they'll just say they were just trying to generate a viewing. Who is selling it?

 

[magnatom]

Where's your house mate. I'm always looking for stuff. Could be interested and do a deal thus avoiding estate agents fees.

Other than that the only thing I would say is if you have 3 notes of interest then you go to the closing date. You should have at least had one offer.

Regarding the ES comments to your wife, they will say or do anything to get a punter through the door at the moment. They just hope when the person is through the door then they fall in love and want to make an offer.

You've no real comback as they'll just say they were just trying to generate a viewing. Who is selling it?

I'll happily send you a link to the house online if you like?

I'll not post any details of the agent as I don't want admin getting in trouble!

 

[Over The Hill]

You want to sell your house but have no buyers.
The Agent is trying to get you buyers and is making (non binding) statements on the price to temp people to come and look at the house.
So why are you unhappy with that.
Would you rather have them say "no the seller wants to stick to his unrealistic* price so go away until you come up with the full asking price even though it is a buyers market"
*I dont know your house's worth but any price just over the stamp limit is unrealistic as buyer will buy the cheaper tatty one up the road and spend the money doing it up rather than giving Gordon Brown 5K (or whatever limit you are near)
The agents job is to get punters interested.
They seem to be doing that.
What is the problem then?


It seems you are not looking at what your house is worth but what you need to buy the next house. Your buyer will not look at it that way.
If you have a buyer offering 10k less - you offer 10k less. If you all have a deal then it happens, if not it does not and you have not lost anything.