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Would you lose a sale for the sake of £500?
Comments
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Any suggestions for a better way to value?
The point I`m making is it`s not rocket science and virtually anyone could do it.
I would have thought that the value of ANY property would bear some relation to the actual building cost.
How can a house that cost £100k to build and allowing for the price of land be valued at £150k,or even more.
ANYTHING is only worth what someone will pay for it.
As I said previously,EA`s only run around guessing what a house is worth and charging a rip-off fee to sell it.0 -
As I said previously,EA`s only run around guessing what a house is worth and charging a rip-off fee to sell it.
As my earlier post you don't have to use an EA
I have made a good living in my career. I ran a business, not a charity, and never forced anyone to use my firm. A close on 70% return rate of clients said something about what most people felt but perhaps they weren't readers of MSE.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Well we lost a house purchase earlier this year because the vendors decided to remain where they were on the basis their sofa did not suit the lounge of the house they were buying!
At the end of the day, if somebody does not really want to move, there is no room for negotiation.0 -
How can an EA justify charging a % of the house price.
There is no more work attached getting details of a £200k than a £300k property.
Also if the house is not of a high enough value they have a minimum charge and not a %.
Talk want your cake
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For the actual hours and "work" they put into selling a house,they must have the highest hourly rate in the country.
There should be a flat rate fee on a price scale and no more than three rates.0 -
How can a house that cost £100k to build and allowing for the price of land be valued at £150k,or even more.
I think you have this the wrong way around. It is not that the cost of building plus land tells you the value.
The value of a house is what someone will pay.
The value of the land to build a house is thus what someone will pay for the house, minus the cost of building it. As any developer knows.ANYTHING is only worth what someone will pay for it.
Exactly0 -
I am no particular fan of estate agents, but I don';t actually think its that expensive.
In France they charge 6%, sometimes start negotiating at 8%.
We managed to get it down to 5% and thought we'd done well!0 -
slopemaster wrote: »I think you have this the wrong way around. It is not that the cost of building plus land tells you the value.
The value of a house is what someone will pay.
Exactly, and EA`s are running around guessing what someone will pay and so not really valuing the house.
X house round the corner went for £150k,so we`ll put the next one up at £160k (rising market) and visa versa.
They were one of the main culprits that caused prices to rocket and now of course they tell Joe P to be realistic about what they want for their houses.
A right bunch of chancers!0 -
Exactly, and EA`s are running around guessing what someone will pay and so not really valuing the house.
X house round the corner went for £150k,so we`ll put the next one up at £160k (rising market) and visa versa.
They were one of the main culprits that caused prices to rocket and now of course they tell Joe P to be realistic about what they want for their houses.
A right bunch of chancers!
Alared,,
Lets hear why you are so bitter against estate agents... Obviously they must have upset you at some point....0 -
They were one of the main culprits that caused prices to rocket
Do you not think that greedy vendors had a share of the blame?A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Do you not think that greedy vendors had a share of the blame?
Not really they were only guided by greedy EA`s who get a %.
The higher the value the more in their coffers.
Vendors are hardly likely to turn round to an EA and say "you`ve guessed the price wrong,please reduce it".
I said EA were one of the main culprits but there were plenty of others.
Banks,government (stamp duty),builders etc,all with their greedy fingers in the "property pie".0
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