Estate Agent is keeping me waiting

Doozergirl

jenner wrote: »

yes i wondered that, from our perspective and our calculations (see above) we feel it isnt way off the mark,certainly less than they should expect but not way off, however, the vendor may see it differently.
i felt he sort of gave mixed messages, he sort of said it really abruptly, that it was too low and then said that although there is room for manouvre i wold need to come up further to the asking price. so i then said well that asking price has been in place for a year, in the meantime prices have dropped quite significantly, he agreed, he then said, look a property is worth what someone is willing to pay for it, but then said that if we werent willing to come up at all the we could draw a line under this one and they could find us something else

is he trying to manipulate me? trouble is, we want this place

Why do you think he is trying to manipulate you? He is right in each respect. yes a property is only worth what someone is prepared to pay but the same fact is that if the vendor isn't budging then it isn't selling and it's value remains undecided. I don't think he's manipulating you if he's even suggesting you look at other property. If he felt the deal was there to be clinched, I think he'd push for it.

You have told us there is some movement but not as much as you want. If you are banging on to him about it not being worth what they are asking then he may well be inclined to just leave it because your expectations are so different from the vendors. He may also be fed up with the vendor if they have been on the market for a year and haven't got the message that it isn't worth what they are asking for it. Maybe it's just that he can't be bothered to waste time on something he doesn't feel is going to get anywhere at this stage. I have had an EA in the past suggest that it wasn't worth negotiating with someone that had made a low offer, she just didn't feel it was ever going to get to the right point and she felt it was better just leaving them alone. It was certainly to do with the attitude they had taken.

I don't hold out much hope for an increased offer of 3000 to be honest. That's the detail rather than the ball park iyswim and it doesn't sound like you've hit the ballpark (as far as the vendor is concerned). It's the problem with this market - I don't understand why some people keep their houses on the market but a year without a price drop would indicate strongly that they aren't particularly motivated to move.

puddy

unfortunately what you have said makes sense, yes, if they havent moved their price or expectations in a year, they're not necessarily going to think that its worth in the 150s, whereas we dont necessarily want to pay more than that because we feel its not worth more than that. question for me is IS it worth more than that for me because i want it!!!

SavingSteve

IMO you're showing waaaay too much keenness, let them be, if they want a deal they will contact you. You need to be more aloof.

puddy

i know,,, i would never make a femme fatale!

Doozergirl

SavingSteve wrote: »

IMO you're showing waaaay too much keenness, let them be, if they want a deal they will contact you. You need to be more aloof.

On the contrary, your offer is too low at this point in time and therefore if you are prepared to wait for the right price then it's important to push yourself forward as a serious buyer so that if the vendor does adjust their expectations then you are first in mind.

There will be a lot of genuinely aloof people out there with little intention of purchasing right now. If you are a serious buyer then you need to show that to the vendor and make them think about you. If there is only 3000 in the pot then you put that offer forward and show that you are proceedable, that you love the house but there is simply no more money and yes, the fact that it has not sold in a year shows that you aren't the only one who thinks the asking price isn't worth it.

I don't believe in aloof. I believe in engaging the estate agent, building rapport but simply being clear, straight and strong. They must have enough timewasters on their hands right now without pretending to be one.

Who would chase down a sale from someone that didn't appear interested?

SavingSteve

Interest has been shown by placing the offer though? In this market there can't be loads of people making offers?

QTPie

jenner wrote: »

unfortunately what you have said makes sense, yes, if they havent moved their price or expectations in a year, they're not necessarily going to think that its worth in the 150s, whereas we dont necessarily want to pay more than that because we feel its not worth more than that. question for me is IS it worth more than that for me because i want it!!!

Only you can answer that question....

At the end of the day, as I have said before, the selling price of a specific house is determined by both the buyer AND the seller (providing the buyer can get the finance - i.e. this may be affected by a mortgage company's valuation of the property too).

If a buyer wants a house "enough", then they will pay over the odds for it. There is nothing wrong with this: it is your life and your momey - no-one can tell you how to live your life or how to spend your money. It is up to you and your husband

BUT, ask yourself SERIOUSLY whether you want the house "enough" to pay over the odds for it. Look around - look at similar properties: could you get somethign just as good maybe cheaper? I would pay over the odds to get the house that I REALLY wanted (providing I could afford it). The next house we get we hope to stay their 30 years: what it is worth now, in 2 years time or 5 years time is likely to be very immaterial then...

QT

lil'H

If I was you I'd letthe agent know the offer stands, but you are not prepared to put it up. Then ask if he has anything new come on that may meet your needs. Keep looking, that way they know you are serious but not willing to play games over the price. I had an offer rejected, house I LOVED, did what I've just suggested. 3 weeks later they came back asking if I'd go up by 30k (my offer was 50k under) I said no, that I was waiting for a response on another offer I'd put in (forgot to tell them it had already been rejected) but the original offer still stood. Mentioned that whichever property said yes first I would be ready to go, and reminded them of the fact I was FTB. Next morning they accepted, full 50k under asking price only a month after coming on the market!

puddy

good points from everyone. well theres nothing i like in the immediate vicinty but that is becasue nearly everything i ring up about to view, has either sold, been taken off the market or rented out. very frustrating. i want to move and now. i like the property and we will be there until we retire about 20 years time.

anyway, they certainly dont believe in working late, ive just rang them, they are shut. my own estate agents are open till 7,,,, tut

QTPie

jenner wrote: »

very frustrating. i want to move and now.

Are you me? (if "patience" was a school subject, I would have failed miserably... :rolleyes: ).

jenner wrote: »

i like the property and we will be there until we retire about 20 years time.

Those are THE most important things IF you can afford it.

Yes you might get a better deal on a similar property if you wait. But if THAT is the house you want...

jenner wrote: »

anyway, they certainly dont believe in working late, ive just rang them, they are shut. my own estate agents are open till 7,,,, tut

Most business hours are 9 'til 5 (6 if you are lucky!).

(See my first point about... )