Old fashioned beliefs about dropping asking prices

lethal0r

mlz1413 wrote: »

I think the EA have a lot to answer for with the sellers attitudes - this week 2 people have said that their low offers have not been put in as it would upset the seller.

oh - i thought an EA legally had to put all offers to the seller - is this not the case?

westv

I was speaking to one of my two agents this week and he was saying one of the frustrating things happening was that some people who were getting offers below sale price weren't budging and that people who were being realistic on the price weren't getting offers!

Tassotti

Last week I spoke to 4 agents about selling a property.

All four knew my position (ie a local LL with a lot of properties)

2 were straightforward and said we would market it at £xxxxxx, but to sell take 10K off that price.

The other said they would market at that price with a view to dropping in six weeks.

EAs aren't stupid. Houses are still selling at the right price....I sold it the next day at the right price (privately )

With regards to the mentality of people, it really depends what situation you are in.

1) Your house has increased 100% in the last ten years
2) You are waiting to buy
3) You have invested
4) You have STR'd

Each person will have a different mental attitude to it.

Tass

lynzpower

lethal0r wrote: »

oh - i thought an EA legally had to put all offers to the seller - is this not the case?

Er no this IS the case.

By law, if an offer is given to the EA it MUST be passed on to the vendor for THEM to accept or reject. the only exceptions to this is where the vendor has IN WRITING advised the EA ( usually on the take on form) not to bothere phoning with offers under X amount , as they will be rejected.

otherwise all offers need to be given IN WRITING to the vendor. the EA where i used ot work , as soon as I loaded an offer price on the database it automatically printed out the offer letter to vendor

Report to NAEA if your EA breaks the law.