Estate agents really take the pi$$

white_noise

all i can say is thank god for online tools for checking sold houses, in our local area we have just had a e-mail from a EA alerting us that they have reduced a house from £275k to £235k, a nice £40k drop that perked an interest, i stuck the house into nethouseprice and you can see that the attached property that is pretty much exactly the same place (both double glazing and garden size) sold for £230k in june of 2009!
i mean i can't believe that EA's (o.k its there job to get the best price that they can) can over price by this much it really is taking the mick (especially when there are simple online price checkers), i don't know how long this property has been on the market but asking £45k over the same house is pretty nuts, plus there must have been a bit of a drop from 2009!
WN

nearlynew

You have to remember that estate agents need no qualifications, training or any particular skills.

They are glorified salespeople and most of them know as much about the property market as I know about mongolian poetry.

Clueless f*cking chancers.

Blacklight

If it sold in June 2009 then it was probably purchased in April 2009. Prices have increased about 8% since then.

£235k is about £15k off where it should be.

What was your point again?

white_noise

Blacklight wrote: »

£235k is about £15k off where it should be.

looking at the HPI you would be correct, though on a personal level i wouldn't pay more than 225k for it!
WN

ess0two

As you put the attached property,not the exact same property.

Blacklight

ess0two wrote: »

As you put the attached property,not the exact same property.

There are a million and one improvements that could easily account for the difference in asking price and similarly personal reasons that could account for the drop.

This kind of logic doesn't stop some people foaming at the mouth when a newly reonvated period propery is marketed at more than the one next door where the old man lived for 60 years without decorating or modernising.

Still, it's not my problem.

ess0two

Bit like viewing cars,there are some shitters about,and better cared for at higher selling prices.

1984ReturnsForReal_2

The sellers are probably hoping for an idiot who sees "25% OFF" & believes it is a bargain.


There is a lot of them.


Even on this site...........

white_noise

1984ReturnsForReal wrote: »

The sellers are probably hoping for an idiot who sees "25% OFF" & believes it is a bargain.

interestingly there is a property that the same EA have advertised that thanks to propertybee you can see was originally on for £250k, then after a few months went up to 300k, and recently back down to 250k, and has just sold!
WN

macaque_2

Blacklight wrote: »

There are a million and one improvements that could easily account for the difference in asking price and similarly personal reasons that could account for the drop.

This kind of logic doesn't stop some people foaming at the mouth when a newly reonvated period propery is marketed at more than the one next door where the old man lived for 60 years without decorating or modernising.

Still, it's not my problem.

I can help this one, I've seen it before.

Some years ago a bathroom company got into trouble over a cunning discount strategy. They would pick one or two days in the month when they knew sales would be bad and marked up the prices of £150 baths to £400. Immediately afterwards they would announce in a blaze of publicity that they were discounting the baths by 50%. Afterwards, people would rush in for bargain baths at £200 which should have retailed for £150.

What White Noise is saying is that if the reduction had been £40k, the correct asking price should have been £195k. As White Noise has pointed out, transparency is the best antidote to spin.

ess0two

macaque wrote: »

I can help this one, I've seen it before.

Some years ago a bathroom company got into trouble over a cunning discount strategy. They would pick one or two days in the month when they knew sales would be bad and marked up the prices of £150 baths to £400. Immediately afterwards they would announce in a blaze of publicity that they were discounting the baths by 50%. Afterwards, people would rush in for bargain baths at £200 which should have retailed for £150.

What White Noise is saying is that if the reduction had been £40k, the correct asking price should have been £195k. As White Noise has pointed out, transparency is the best antidote to spin.

2 different properties though.