EA fees advise please

hcb42

yup. I conclude they are meaningless.

cwcw

Scully38 wrote: »

Prove it! Prove to everyone that has suggested things that it's not the price! Prove it on your thread not the OP's

Irrelevant. The point I'm making in this thread, which is pertinent to this thread and the OP, is that you're offering conflicting advice to two different people. To the OP here you're saying base pricing on sold land registry prices. To me you're saying take no notice of sold prices in your area because the general trend is down and therefore I should price based on national rather than localised trends. I think your advice on this thread is much more sound, Dr Jeckyl,

cwcw

hcb42 wrote: »

yup. I conclude they are meaningless.

In a village or countryside they would be meaningless. In a densely populated town, city or suburb there is enough volume to make them meaningful, at least as a starting point.

clils

cwcw wrote: »

Irrelevant. The point I'm making in this thread, which is pertinent to this thread and the OP, is that you're offering conflicting advice to two different people. To the OP here you're saying base pricing on sold land registry prices. To me you're saying take no notice of sold prices in your area because the general trend is down and therefore I should price based on national rather than localised trends. I think your advice on this thread is much more sound, Dr Jeckyl,

WOW!

I am a firm believer that something is only worth what somebody is willing to pay for it.

The reasons I have for selling are very different to yours and not something I am willing to discuss here. I don't care what has sold here in the past, I care about my flat and my mortgage and as ( i assume) that buyers look at the prices of similar properties and compare prices ( i know i do) than that does put me at a disadvantage despite what I think my flat is worth and I am sure that we all think our place is the best and anybody buying should be grateful we are selling it.

So please take your gripes elsewhere, I have looked on home.co.uk and to be honest I didn't find it that helpful or tell me things i didn't already know.

cwcw

clils wrote: »

WOW!

I am a firm believer that something is only worth what somebody is willing to pay for it.

The reasons I have for selling are very different to yours and not something I am willing to discuss here. I don't care what has sold here in the past, I care about my flat and my mortgage and as ( i assume) that buyers look at the prices of similar properties and compare prices ( i know i do) than that does put me at a disadvantage despite what I think my flat is worth and I am sure that we all think our place is the best and anybody buying should be grateful we are selling it.

So please take your gripes elsewhere, I have looked on home.co.uk and to be honest I didn't find it that helpful or tell me things i didn't already know.

I'm sorry you have taken it that way, I just didn't like the fact you were being given advice by the same person who was berating me for having used said advice with my own property. Seemed a contradiction to me.

For what it's worth though, I agree with his stance on this thread because, although you don't care about past sold prices of similar properties, they do play a large part in determining the value of your own property. Property valuation is not an exact science and so historical actuals are a good basis to start with, along with current market competition.

ash28

Scully38 wrote: »

OK, had a look, it's a lovely flat, but unfortunately it looks like it is the price. There are several other flats for sale in the same block, one for £110k, the majority for offers at £105k. They're also the same condition as your flat, so it looks as though to compete it might be worth lowering it to just below 105k to actually get more people interested in it. What about 104,950? Rather than 104,995?

Here's the list for all the others from rightmove.

The other flats for sale, including the one at £110k are smaller than the OP's - quite a bit smaller - living room smaller and both bedrooms are smaller and those flats don't have an ensuite to the main bedroom.

OP - I would definitely pay more for your flat than the others for sale - it is a lot bigger and has 2 bathrooms - you probably aren't as over priced as people are suggesting - maybe get your EA to put the fact that it has 2 bathrooms and it larger than average at the top of the description - at first glance the flat looks the same as the rest - but it isn't.

googler

OP, if the EA is on a standard percentage of sale price basis, then if your eventual sale price goes down, their fee goes down in proportion.

If you signed up for a flat fee, then them's the breaks. With a flat fee, if the EA gets you a higher price, you gain, if the price drops, you lose.

flora48

The 4 entries on Rightmove at £105K seem to be the same flat. Maybe not quite so much competition for you.