Widely varying valuations - great opportunity or crazy EA?

chickmug

pie81 wrote: »

Argh. now you and silvercar have made the decision difficult again.

What sort of tiered fee did you agree? They are already offering no tie in.

thanks

But don't be surprised if the agents will not negotiate this type of deal as many would not me included.

pie81

chickmug wrote: »

But don't be surprised if the agents will not negotiate this type of deal as many would not me included.

they have said they would be very happy to consider a tiered fee arrangement ... worth a try perhaps, agree there would have to be a significant difference in the tiers.

out of interest chickmug why wouldn't you have considered this kind of deal - assuming you were confident in your valuation ??

chickmug

pie81 wrote: »

they have said they would be very happy to consider a tiered fee arrangement ... worth a try perhaps, agree there would have to be a significant difference in the tiers.

out of interest chickmug why wouldn't you have considered this kind of deal - assuming you were confident in your valuation ??

Good glad you are getting somewhere.

We had a 'No Haggle' & transparent commission structure and yes I regularly looked at differing versions and differing services but I ran a business and made a business decision to stick with my way. There is no right and wrong way but yes I really did my homework on valuing.

Many agents go out, having given little thought to where they are going and end up with figures all over the place and made themselves look stupid.

This very long winded post of mine may be of interest?

http://forums.moneysavingexpert.com/showthread.html?t=1907059

pie81

thanks chickmug. I agree, I think she has probably given a large figure without an awful lot of thought... for example she gave an indication of usual price per sq ft on my street as £600-650 , but then her valuation would put our flat at £775 per sq ft!

my thought is that I would use the suggestion of a heavily tiered fee structure as a test of whether she is confident/done her research or not. If she is only going to get a small amount if she gets say below £525k then I suspect she may quickly back away from her initial valuation and/or refuse the tiered fee structure. either way I know she's not really all that confident.

but if she agrees to it then what have I got to lose... if she gets the high price great, I will be happy to pay the high ish commission, if she doesn't then I will get pay a much reduced commission...

chickmug

pie81 wrote: »

thanks chickmug. I agree, I think she has probably given a large figure without an awful lot of thought... for example she gave an indication of usual price per sq ft on my street as £600-650 , but then her valuation would put our flat at £775 per sq ft!

my thought is that I would use the suggestion of a heavily tiered fee structure as a test of whether she is confident/done her research or not. If she is only going to get a small amount if she gets say below £525k then I suspect she may quickly back away from her initial valuation and/or refuse the tiered fee structure. either way I know she's not really all that confident.

but if she agrees to it then what have I got to lose... if she gets the high price great, I will be happy to pay the high ish commission, if she doesn't then I will get pay a much reduced commission...

All you have to lose is time?

pie81

at the moment, got plenty of that! nothing out there we want to buy

1echidna

pie81 wrote: »

at the moment, got plenty of that! nothing out there we want to buy

Time and perhaps effort, if you regard the task of having the property ready for viewings of any concern?