Would you lose a sale for the sake of £500?

princessamy86

:rotfl:at the moment, one of our vendors has just lost a sale because he refused to drop £500. Some people are brilliant!

theartfullodger

Do I take it this

at the moment, one of our vendors has just lost a sale because he refused to drop £500. Some people are brilliant!

means
"we as agents just lost our commission because someone else, our client, decides to do what they want not what we want.."

If so kindly advise which EA you work for as clearly you are happy with the position you've taken and it deserves more publicity...

Cheers!

Lodger

Soot2006

I think it was more an exclamation about the state of the market versus expectations of vendors rather than an EA whinge

Thrugelmir

Soot2006 wrote: »

I think it was more an exclamation about the state of the market versus expectations of vendors rather than an EA whinge

Or an example of how good EA's do manage to get 2 parties to compromise. As at the end of the day no sale , no commission. Nothing to pay the wages with.

chickmug

Thrugelmir wrote: »

Or an example of how good EA's do manage to get 2 parties to compromise. As at the end of the day no sale , no commission. Nothing to pay the wages with.

I can sympathise with the OP as I have found intransigence with both sides and have seen sales falling apart due to relatively small amounts. I have found it is usually a 'man thing' trying to be Macho and show off to their spouse.

Some have seen sense and come back at a later point - a few days or few weeks later but to find it too late. So it is beholden on the EA to talk sense into people when these situations arise. If the EA can't get agreement on the phone they need to tell them how it is in writing.

How many times have I dealt with a vendor who had been very cocky about a rush of early viewings so tighten up on the price they will accept so losing the chance of a sale. Then six months later, when the price is down well below the initial offers, they say how much they regret not having taken the earlier offer.

ciano125

Perhaps the Estate Agent could have offered to reduce their fee in order to get the sale to go through??

Thrugelmir

chickmug wrote: »

I can sympathise with the OP as I have found intransigence with both sides and have seen sales falling apart due to relatively small amounts. I have found it is usually a 'man thing' trying to be Macho and show off to their spouse.

Some have seen sense and come back at a later point - a few days or few weeks later but to find it too late. So it is beholden on the EA to talk sense into people when these situations arise. If the EA can't get agreement on the phone they need to tell them how it is in writing.

How many times have I dealt with a vendor who had been very cocky about a rush of early viewings so tighten up on the price they will accept so losing the chance of a sale. Then six months later, when the price is down well below the initial offers, they say how much they regret not having taken the earlier offer.

You are right. We live in a world where reducing the price of your house to sell it is "losing" money whilst buyers look to obtain the biggest "discount".

Mozette

I paid my purchaser nearly £500 because there was a bit of damp (in the bay of a 70 year old house; gosh!) but he was a FTB, and I know how scary the survey seems initially, and blimey I wasn't prepared to lose the sale for the sake of 400 odd quid. In the grand scheme of things it's just not worth stressing over, in my opinion.

payless

ciano125 wrote: »

Perhaps the Estate Agent could have offered to reduce their fee in order to get the sale to go through??

yep a bit more productive than posting with smiles!

Catblue

Surely the buyer also lost a purchase because he refused to cough up £500?

Two ways of looking at it.

alexlyne

Catblue wrote: »

Surely the buyer also lost a purchase because he refused to cough up £500?

Two ways of looking at it.

I totally agree!