Why do people fall for EA flannel?

bylromarha

Unsurprisingly they still haven't sold.

No offers at all, last I heard before we moved end June. seller also told me they were only accepting viewings from first time buyers or people who were SSTC.

Just gone onto rightmove with a new EA, £1500 price drop, taking it to £135k. Still isn't going to sell if you ask me, seeing as we had to drop from £135k to £130k before we had serious punters through the door.

mi-key

Some people do seem to have their heads up their ar5es when it comes to how much their place is worth.

One of the houses we viewed was on at £185K, and the sellers refused to take any offers as they 'believed' it was a bargain at that price - despite there being bigger houses in nicer locations for £5K less in the same village.

I blame these makeover shows - people think that by slapping down some £1 sq/m nasty platic laminate flooring, and painting everything beige means their house is worth more ( no matter how badly they have done the DIY ! ).

Proof is in the pudding though - any house that sits there for months without a sale is overpriced - if it wasnt, someone would have bought it - yet sellers still think it is just a case of waiting for that magic buyer to come along.

mrcow

bylromarha wrote:

Am watching both with interest! How sad am I?!:o

:rotfl: You're not at all! lol

This is what happens when you sell up, you suddenly become interested in what everyone else is selling for , even though you don't live there anymore :rolleyes:

It's a shame about your neighbours. Having a house on the market for four months must be v stressful. I guess if they were that bothered though, they would have opened their options up further by now (ie. reducing the price, taking viewings from all buyers rather than just a select few, listing with other agents etc.), even a little makeover/rethink may help.

Some people have no idea when it comes to selling!

bylromarha

mrcow wrote:

:rotfl: You're not at all! lol

This is what happens when you sell up, you suddenly become interested in what everyone else is selling for , even though you don't live there anymore :rolleyes:

phew. OH thinks i'm obsessed. our buyers have left our gravelled front garden to go to pot, so there are weeds all over it...it looks like it could be part of the neighbours house, so not a good first impression at all...especially now that it's the 1st photo on the new details.

Plus neighbours won't have a for sale board up...they want to move, but "need to get a price" so they can buy a house in the price bracket they want, so don't want to move too much if you ask me.

They've also turned a nice, modern house into a suitable house for a retirement couple, even though they are only mid thirties.

Pennywise

mi-key wrote:

Some people do seem to have their heads up their ar5es when it comes to how much their place is worth.

Proof is in the pudding though - any house that sits there for months without a sale is overpriced - if it wasnt, someone would have bought it - yet sellers still think it is just a case of waiting for that magic buyer to come along.

You took the words out of my mouth. Sheer greed is the answer.

A neighbour of mine is trying to sell their house and I was initially interested in buying it as a holiday rental cottage. I've been looking in our village for some years and thought that £200-£225 was a realistic price given the asking prices (and selling prices) of other similar properties. When I discussed it with him, he said he thought it would be worth about £250. He got three local estate agents - all long standing and reputable. The first two gave marketing valuations of £225 to £250 but the third gave a value of £325. Now there's no way on earth anyone would pay £325 for it but the EA argued that it was worth more because it was "unique" and people would pay for it's unusual quirks (like the fact it's got no garden, had no ground floor, only one tiny parking space to fit nothing larger than a Ford Ka, and is a converted bank so rooms are small and weirdly laid out!!!). Six months on, only one viewing, and the price has been reduced a few times - now down to £290 and still no interest. I firmly believe he'd have sold it if he'd marketed it at a reasonable price, but his greed got the better of him.

mi-key

Can beat that ;0) - in the village where we are buying our place, there is a barn conversion for sale - nothing that special as its only 4 beds, and doesnt have much land, plus is surrounded on 3 sides closely by other houses. Doesnt have much parking, no garage, and isnt in a particularly good position in the village ( its on the main road in the middle of the village, not one of the side streets further down which are the more desirable parts ).

Went on the market a couple of years ago at £750,000 - every couple of months it gets reduced, is now down to £600,000 ( which is still vastly overpriced as for £350,000+ you can get huge 4/5 bed places with loads of garden, double garage, sea views etc... ).

There are only 3 agents who really deal with houses in this village, and the barn is now onto the 3rd of them !

The seller doesnt seem to get the message that this barn will never sell at anywhere near the price he thinks its worth.

goldbyron

having said all of this, my house was valued between 250-290k in April by 4 different EA's. My ex insisted we went with the highest, I thought it was laughable. We achieved 285k 2 weeks later. The other EA's must have really got it wrong.

dougk_2

nelly wrote:

3 million people a day buy the sun that should answer the question - are people stupid?

It depends why they buy it - for factual information or a laugh.

I could say the same thing for Daily Mail readers too..........