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Offers in Excess
javorka
Posts: 2 Newbie
Not sure if you noticed but in the last few weeks lots of houses have changed status to 'offers in excess of' in my area. Do you think that EA are getting super low offers and are trying to set some sort of bottom limit? Or is it just a way to make it look like they lowered the price but actually they haven't? For example, house is on for 159K and then changed to offers over 155K.
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As far as I can see, it is an Agents trick to get sellers to put the house on with them for an 'offers over' price on the implied promise that the property will be sold for more - but buyers look at the property and say 'they want how much?' and bid below the 'offers over' price - leaving the agent to cover the gap by telling the sellers 'oh the market has moved since you put it on'. Basically agents trying to con sellers.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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I agree. It is one of their marketing strategies that only them know how much the property increased or decreased in value. At the same time, they will take advantage of it and make sure that they will get a lot of profit from it. That is just how their businesses works.0
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Offers over is the sort of thing I would do. I don't see the point on putting a house on the market for £200k and getting "offers" of £180k. If anything the offers under is a marketing trick as the buyer thinks they are getting a discount when they get the house for less than the asking price.I'm retiring at 55. You can but dream.0
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