EA being naughty with properties

cranezoe

sometimes things go off rightmove for a few days and then are re listed which means they show up in searches when the person looking clicks "on in the last 24hours" etc. that way it looks like new.

up to the agents how they market it. Ours used to advertise in the local paper and then stopped. I did ask why they werent doing it but it is their decision how they market and I wasnt paying a fee to market in a particular way.

poppysarah

It's not all properties - it's a select number - and seems to be removed from rightmove and staying off - it's not a lot of properties - just a few.
I've got property-bee so I am aware of the things EA do - this just seems very strange.

As a shareholder of Northern Rock (UK tax payer) I'm entitled to expect the best advertising possible for repo houses so they can achieve the best price. IMO that means sticking them on rightmove all the time - not taking them off. If they'd removed from rightmove entirely then I'd understand that - as several EA have done this in our area. But it's not - it's just a couple of properties within a couple of streets of each other which makes me think some EA is lining their own nest.

It's got my curiosity as I am interested in one of the houses - have viewed it and am curious as to why it's been removed from rightmove. I don't want to make an offer on a house with a dodgy EA.

I'm probably reading far too much into it - but I will be looking at what they sell for in the end - and maybe if my curiosity is spiked enough by low prices, pay the £3 for looking at who bought it.

I know a couple of other EA with large letting portfolios have bought shed loads of houses before they've ever made it to market - so I know they do it.

QTPie

poppysarah wrote: »

I know a couple of other EA with large letting portfolios have bought shed loads of houses before they've ever made it to market - so I know they do it.

I am sure this does happen - deosn't surprise me in the least. It is the same with just about any sales thing: if a salesman likes what he sees at a reasonable price, it may never make the open market...

I think that you are reading FAR much into things... if an estate agent wants to get a repo at a good price, then they will get it: they don't have to fiddle around with anything dodgy on rightmove.

PLUS the mortgage lenders do NOT get the profit from a sale: they are ONLY concerned about covering costs. If a property can be sold for enough to cover what is owed on it, then the bank is happy: any profit goes back to the owner of the repo. So repos don't need to get "the best price" (which is why they are generally so cheap).

So don't worry about it

QT

socrates

Poppysarah - welcome to the real world.

EA are notoriously known for the brown envelopes they receive from Investors.

I even had one who was upset when I was unprepared to give him a backhander for a repossession I bought years ago.

Like a previous poster said the lenders are only interested in covering their outlay.

I do not think calling you a 'busybody' is correct either.

In my opinion it takes one to know one!

zone

They are all dodgy

besonders1

It may depends on who buys them and what offer is made. If it was a reliable developer or a buyer who would pay the full asking price, then they may choose to just take it off the market and sell to them rather than have the hassle of showing people around and administration costs of considering offers which I suppose in this market can only go "one way" as time goes on.

fimonkey

SavingSteve wrote: »

What OP may also have missed is that many EA's remove properties from the site and then readvertise with a lower price. This way the properties end up with a new rightmove 'code' and then propertybee etc can't track the price change.

(PS - propertybee is one of the best inventions ever imo!!)

EA's removing then re-listing seems to be the case with the RM properties I keep my eye on, ... However, my property-bee even picks these up for some strange reason! Yay for property bee!

Big BOOO to the idiot EA's (usually Goadsby) who list flats/apartments as houses and get in the way of my search! ha ha.