Unrealistic Sellers

Hailstorm

The cynic in me says another reason for estate agents advertising properties on their books that are SSTC is that it gives the impression things are selling quickly regardless of whether or not they actually are. On the back of that people might put in an offer when they might otherwise look at some other properties or put in a higher offer then they would otherwise make.

not_loaded

gjchester wrote: »

Probably so in a few weeks time they can drop it to £220K again and put big "£30K price drop" in the blurb so people think it's a bargain.
More and more people are using add ons like Property bee to watch changes so EA's need to get even more slippery than they usually are to generate interest.

I’m looking at only two areas currently on Rightmove and have yet to see anyone boast price drops of any kind. If they did it’d tell me they’re desperate. That’s not much of a marketing strategy. Where I am, houses are selling. They go sstc shortly followed by the removals vans.

Hailstorm wrote: »

The cynic in me says another reason for estate agents advertising properties on their books that are SSTC is that it gives the impression things are selling quickly regardless of whether or not they actually are. On the back of that people might put in an offer when they might otherwise look at some other properties or put in a higher offer then they would otherwise make.

Are you suggesting they would put sstc on a property that isn’t? Once again, that wouldn’t be much of a marketing strategy. For starters, Rightmove defaults to show you non-sstc properties, so immediately you’re restricting online hits. Surely, as the vendor, wouldn’t you monitor Rightmove and ask what was going on?

To me sstc makes a property less desirable as it means ‘do you wanna fight over me?’.

From earlier posts, to consider what is a ‘reasonable offer’ just put yourself in the other persons’ shoes. It doesn’t matter whether you’re a buyer or a seller, just try and see the other side of it.

If the seller is in a line of ‘For Sales’ in their road and won’t budge, it’s their prerogative. If they’re alone and reasonably unique on the market, you’ve answered your own question as to how to proceed.

PasturesNew

I kow somebody that doesn't need to move, just would like to if possible, who put their house up for sale at the beginning of the month. Fourth house in their row for sale, priced theirs at 68% of the price of the fully modernised/extended one ... and got a buyer just 3 weeks later, accepting 5% off asking price.

That's realistic.

Hailstorm

not_loaded wrote: »

I’m looking at only two areas currently on Rightmove and have yet to see anyone boast price drops of any kind. If they did it’d tell me they’re desperate. That’s not much of a marketing strategy. Where I am, houses are selling. They go sstc shortly followed by the removals vans.

Are you suggesting they would put sstc on a property that isn’t? Once again, that wouldn’t be much of a marketing strategy. For starters, Rightmove defaults to show you non-sstc properties, so immediately you’re restricting online hits. Surely, as the vendor, wouldn’t you monitor Rightmove and ask what was going on?

To me sstc makes a property less desirable as it means ‘do you wanna fight over me?’.

From earlier posts, to consider what is a ‘reasonable offer’ just put yourself in the other persons’ shoes. It doesn’t matter whether you’re a buyer or a seller, just try and see the other side of it.

If the seller is in a line of ‘For Sales’ in their road and won’t budge, it’s their prerogative. If they’re alone and reasonably unique on the market, you’ve answered your own question as to how to proceed.

No what I am suggesting is that the properties an estate agent chooses to include in their adverts include a proportion of properties that have already sold to give the impression things are going quickly.