Why would you sell house through 4 different estate agents?

arthur_22

There's a house I like that is on the market through a grand total of 4 different estate agents - and that's not all, it's also been on with at least three others in the past (been on the market a long time, which is because they want almost full asking price on it - I know this cause I made an offer).

Now, I can't work out the logic of putting it on with different EAs, especially in these internet days. Has anyone here used multiple agents to sell? What would be the benefit of that?!

googler

If the various EAs have something demonstrably different in their service offering, or if they can claim to have different buyer bases, or some have access to internet portals/sites that others don't, or access to certain print advertising that others don't..... etc

Without knowing what led the seller to choose them, can't speculate further....

MissMotivation

Desperation? *confused smiley*

I cannot see any benefit whatsoever with being on the market with that amount of EA's. I guess that they are all advertising on the same websites? If they have more than one board up then they are contravening the Planning laws too.

Jowo_2

I expect that if you go through the sole agency route, they could get a bit complacent, being in a monopoly position, whereas if you go through the multiple agency route, they've got to be a bit more proactive and fight for their share - perhaps competition is actually productive?

stevie_wonder

I think the reverse can also be true. If you go with 4 EAs then they may put "less" effort in. With sole agency they would put more because they know that if they get the right buyer its only with them?

mlz1413

I'd say Desperation.

An old neighbour of mine was trying to sell her flat and 2 yrs ago refused an offer of £125k point blank, its now on the market with about 6 agents and the price ranges from offers over £85k to £92k.

For a buyer it looks like there must be something wrong with the property, but from knowing this women I'd say its just something wrong with the owner!

PasseySam

Interesting point Miss Motivation - So if a house is on the market with more than one agent they are still only allowed to put up one sign outside the property saying it is for sale?

We also saw a house that we really liked but is overpriced, it has been on the market for about 2 years I think and is on with 3 agents, all 3 have a for sale sign outside the property. It seems to me that this indicates they are struggling to sell, especially as I think it is on too high.

Having just had our house valued prior to putting it on the market I have to say that in this day with internet marketing and rightmove.com, there wasn't much to choose between agents and I couldn't really see the advantage of going on with more than one, especially as they hike their commission for multi-agency. I guess if the owner is desperate to sell then they may get more coverage of the market with multiple agents, although they will have to pay more in EA fees. Although if they were that desperate to sell then you'd think they'd maybe accept a lower offer than the asking price and save money on EA fees.

arthur_22

They definitely have two sale boards up outside. It's a weird one, because they do seem desperate to sell the house, but also desperate to get a high price. It does seem to send the wrong message out to people - ie that they will accept a low price because they want rid of the property, and that's why they've got every EA they can muster on the case...

PottyHouse_2

arthur_22 wrote: »

There's a house I like that is on the market through a grand total of 4 different estate agents - and that's not all, it's also been on with at least three others in the past (been on the market a long time, which is because they want almost full asking price on it - I know this cause I made an offer).

Now, I can't work out the logic of putting it on with different EAs, especially in these internet days. Has anyone here used multiple agents to sell? What would be the benefit of that?!

I've always wondered that too and it seems even an EA answering this thread can't see the logic either !!!

Just out of interest, in the area this week a house has gone on with another EA (it has been on the market at 185k for ages) but the price is being advertised 200k - seems both EA are part of Countrywide group.

I am confused as to why it is on the market with both EAs with £15k difference between prices - any ideas ????!!!!!!!!!

DVardysShadow

Just wild speculation. Suppose all the Agents in town got together in a pub and started bragging to each other about how good they were. And one of them said "OK, here is an awful house to sell, the owner is dead set on a ridiculous asking price, it is in a state and it is on the worst street in the worst area. You are all so good, but I bet none of you can shift it. And whoever does can have my 1.75%". Next day bright and early at 1430 after his night out, Agent could call on owner and say "I've negotiated a deal to put your house on with all the Agents, for 2.25% - it's a good deal and I recommend it to you".

googler

"I have to say that in this day with internet marketing and rightmove.com, there wasn't much to choose between agents and I couldn't really see the advantage of going on with more than one"

I could easily find four or more agencies in and around the capital of Scotland (or even Glasgow) with demonstrably different approaches and websites, none of which involve Rightmove, which I find too England-centric.