Diary of a London Estate Agent

Dithering_Dad

Cannon_Fodder wrote: »

what tosh! (a bit harsh, perhaps, but that's what it made me say out loud!)

why do buyers HAVE to pay what's been asked?

just as a seller has the right to refuse to sell if they are not happy, so a buyer can choose not to increase their offer, if they are not happy.

in time, the seller may decide they've had enough of hanging out for top-dollar, and seek to negotiate.

equally, the buyer may decide that is the best house for their needs, and prices have not dropped like they had hoped on some alternatives, so re-visit that house.

then, you might get to compromise and start negotiating towards both parties being happy.

I realise some people put up for sale "on a whim", to "test the market", but months of keeping the house tidy, being available for viewings or having to go out for the agent to do the viewing, is not much fun.

so IMO its sellers who have to make their minds up, do they want to sell or not, if the answers is yes, take the best offer/negotiate as hard as you can, then negotiate hard with your next purchase.

sure I've seen this (below) mentioned before, what stage do we think vendors are at, currently?

http://en.wikipedia.org/wiki/K%C3%BCbler-Ross_model

Most people seem to be at stage 2 on this forum - buyers and seller alike! :eek:

chrisandanne

Cannon_Fodder wrote: »

sure I've seen this (below) mentioned before, what stage do we think vendors are at, currently?

http://en.wikipedia.org/wiki/K%C3%BCbler-Ross_model

I think they are just passing out of 'Denial' into 'Anger'..............

:mad: YOU CANNOT BE SERIOUS....NEXT DOOR SOLD FOR 40K MORE THAN THAT !!!!!.

do_it_today!

As a buyer I am rapidly approaching stage 4!

Gorgeous_George

I'd have accepted the offer...

... and changed my mind after the survey.

GG

Generali

pickles110564 wrote: »

That is exactly what I am saying, buyers need to pay what vendors are requesting then you 2 will tango.

No it's not, pickles110564 old fruit.

What you are saying is that buyers will have to pay the price that sellers demand.

What I am saying is that if there is a disagreement over the price there is no sale.

Either sellers or buyers or both will have to revise their opinions of what a house should sell for.

At the moment it appears that sellers are caving in more often than buyers as houses are falling in price at the point at which they are actually sold.

Gorgeous_George

The houses that are being sold are those owned by the the people keenest to sell. People who simply have to sell/move. Either because of fianancial difficulties or a change of job. Whilst there may be a lot of properties for sale, choice could be limited in the price range that the buyer wants.

Anybody who doesn't need to sell can sit tight and watch their property value collapse.

In the end, sellers do not have to accept the silly/offensive/realistic/only (delete as appropriate) offers. Buyers do not have to pay silly/offensive/realistic asking prices.

NAPNOC = No agreed price, no contract.



GG

do_it_today!

Gorgeous_George wrote: »

I'd have accepted the offer...

... and changed my mind after the survey.

GG

very funny :rotfl:but seriously though how many times do you think a vendor could do that before their estate agent wouldn't bother being proactive about marketing the property?

pickles110564

Generali wrote: »

No it's not, pickles110564 old fruit.

What you are saying is that buyers will have to pay the price that sellers demand.

What I am saying is that if there is a disagreement over the price there is no sale.

Either sellers or buyers or both will have to revise their opinions of what a house should sell for.

At the moment it appears that sellers are caving in more often than buyers as houses are falling in price at the point at which they are actually sold.

Sorry Gen forgot it was you.
I have been trying to explain that unless a seller is desperate they will hold out because several in the past will have seen that after a crash a recovery will follow. They are probably hoping that it is not to far around the corner, I for one think that it will take 5 years before they start to hit the dizzy heights again.

pickles110564

do_it_today! wrote: »

very funny :rotfl:but seriously though how many times do you think a vendor could do that before their estate agent wouldn't bother being proactive about marketing the property?

Depends on how many EA's are in the town that you are selling in.
I think that it is a great idea especially if you want to change agents before their sole contract ends.

Gorgeous_George

do_it_today! wrote: »

very funny :rotfl:but seriously though how many times do you think a vendor could do that before their estate agent wouldn't bother being proactive about marketing the property?

Depends if the buyers used a surveyor recommended by the EA or not.



GG