Estate agents seem very confident

carefullycautious

Friends of ours have contacted through Rightmove all the estate agents covering their area stating the x amount they have for any properties that may come on the market in their price range which is about 20,000 under what most are on at.

They have been told;
No sorry we only sell properties over 300 thousand pound (very snooty reply)
No sorry you wont get a property in that area for that amount
No we have not got anything on our books in that price range

So does this prove that everyone is still in denial and think if they hang on they will get their full asking price. Is there no negotiation allowed.

1echidna

Why don't your friends do their own sorting via details on rightmove etc and ask to view properties that seem a feasible proposition to them. Would be surprised if EAs refused them on this basis although you don't say what offer price your friends could make. 20k off an asking price of 100k is a lot but not so much off an asking price of 200k

cattie

Estate agents only get paid if they sell a house, so surely if they had houses on their books at the level your friends can go to, they would send them details of any properties? Only a stupid ea would continue to value properties at prices that are just not achieveable.

If there are vendors that are pretty rigid about the price that is acceptable for their property, there isn't much an ea can do to force them to lower their expectations.

Is the area your friends are looking in a high priced one, as not every area has seen such drastic drops as other parts of the country?

Have they looked on Rightmove to see what prices recently property prices in chosen area have achieved? This is generally a good indication on what you can expect to pay for a similar house in area.

Obviously they will use Rightmove as a search tool in their hunt for property, so will be able to see for themselves if anything in their price range does become available.

I know if I was selling I wouldn't be happy if an ea was sending round people who he/she knew had a limit that was £20k under my asking price. That doesn't mean I wouldn't want to negotiate, just that I'd like to think that people who came to view weren't looking to slice at least £20k off my price before they had even stepped through the door.

Francesanne

1echidna wrote: »

Why don't your friends do their own sorting via details on rightmove etc and ask to view properties that seem a feasible proposition to them. Would be surprised if EAs refused them on this basis although you don't say what offer price your friends could make. 20k off an asking price of 100k is a lot but not so much off an asking price of 200k

My Mums bungalow was on market for £250,000 and we sold it last week after 6 days on the market. We accepted offer of £232,500 and maybe we could have got a little more but we were happy to sell so quickly and to a super young couple (1st time buyers) who have mortgage in place. Made an offer on flat for Mum and got that reduced by £12,500.