How to find a buyer: Sole agent versus multiple agent

pie81

John_Pierpoint wrote: »

Thanks everyone for your opinions, my problem, is that there are lots of threads on here complaining that the SOLE agent promised the earth, has achieved nothing and the seller is tied to them for at least 12 weeks. Having more than one reduces the chances of being stuck with a duff one.

surely the solution to this is to pick the agent you think the best and then ask them for no tie in period, not to go multiple agency?

googler

pie81 wrote: »

surely the solution to this is to pick the agent you think the best and then ask them for no tie in period, not to go multiple agency?

Why would any EA agree to no tie-in period?

What's the benefit from their point of view, if any?

John_Pierpoint

princessamy86 wrote: »

I'm sorry, but where is the evidence that this happens? I'm an EA, and this is a frankly ridiculous scenario. Yes, we have investors on our books, and yes, if I were to market a property ripe for renovation I would contact them, but if I didn't, would I be doing my job properly? It is the vendor who has the final say on whether or not to accept an offer, just as it is your call as to what the property is put on the market for. If you think a valuation is too high and the agent has inflated the price to get the business, either don't use that agent or put it on at a lower price.

For what it's worth, I don't think multi agency works that well. If you put it on at the right price in the first place, with the best agent for the location and target market, then chances are you will sell. I don't think sealed bids is working very well at the moment as it is nigh on impossible to get the level of interest required to make sealed bids work.

Hi Princess,
I've noted your your employment as an agent prepared to work "antisocial" hours, your "rant" and your advice.
Where are you working?
I'm inside what what some people call that area bounded by the M25: The Great Wen. There are a lot of "chancers" about both buying and selling plus many ambitious people trying to climb the property ladder.
So far I have had two "death" purchases and two "death" sales, so perhaps that accounts for the amount of "spin" I have encountered.

Your advice on price does rather sound like having a dog and learning to bark yourself; but here is my first attempt based on the already renovated houses in the street sold in the last 3 years (mostly in the last year). Obviously they are not all identical and there are two where I have not been able to match asking price and real sale price. I have adjusted the real sale price to 400K and the asking price accordingly, obviously the real sale price varied all over the place depending on the features of individual houses.

Asking ---> Real---> over

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NOTES
Price

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>Price--->Priced.

436K

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>400K--->9%

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> Change of agent change of price to sell
408K

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>400K--->2%

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> Early 2007 = rising market.
444K

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>400K--->11%
456K

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>400K--->14%

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> Change of agent change of price to sell

John

chickmug

princessamy86 wrote: »

I have never even been offered one of these famous brown envelopes, despite working in estate agency for 5 years now, nor has anyone else I know.

And in my nearly 40 years in property I have NEVER heard of the 'brown envlopes' being offered or taken.

Doozergirl

Sorry, am I the only one that finds these posts really hard to comprehend? What is that real price stuff?

In 10 years of buying and selling I've never offered a brown envelope nor found a conversation as complicated as this one. Of course I've had houses suggested to me - that's what EAs do; they'd do it to any potential buyer.

keith969

John_Pierpoint wrote: »

Something in me says I would get better coverage and a higher price if I used two or three agents and paid the winner 2.5% commission, though the experience might be like herding cats..

Unlikely - that's not my experience. A small independent local EA is what you want to go for - they will be incentivised because selling your house gives them an income, they will not over-value it as they will want to sell it, not keep it on their books for months.

I went with a local independent EA recently and got a solid proceedable offer for the full asking price in 2 weeks.

googler

I'm lost.

I don't see what all this asking price / real price stuff has to do with the original question, which I thought was - do I maximise my buyer base by using multiple agents?

Grovester_2

I once knew a man who had a dog ...

ghostbusters

a question for princessamy and chickmug .. ok the brown envelope doesnt really happen but do agents have a tendency to stop marketing a property once an offer has been placed and subsequently rejected by the vendor in the expectation that excahnge is likely to conclude in a sale even if remarket requested by vendor.. I have sold a couple of places where in both instances once the first offer came in and ws rejected , further viewings dried up ..

googler

ghostbusters wrote: »

a question for princessamy and chickmug .. ok the brown envelope doesnt really happen but do agents have a tendency to stop marketing a property once an offer has been placed and subsequently rejected by the vendor in the expectation that excahnge is likely to conclude in a sale even if remarket requested by vendor.. I have sold a couple of places where in both instances once the first offer came in and ws rejected , further viewings dried up ..

What?

"stop marketing...once offer rejected... expectation that exchange is likely to conclude...."

If the offer has been rejected, nothing's going to conclude. What are you saying here ....?

You've 'sold a couple of places' where viewings 'dried up' after you'd rejected an offer. Your point is....what, exactly? That you persisted in spite of a lack of interest in your property?