selling house diary

new_home_owner_3

Ive slated traditional estate agents in the past, and i have said if i sold my house again i would do it myself using a online estate agent.

Now a friend of mine as asked me to try and sell their house for them, im going to use a online agent which will market the property on all the property portals and it only cost 200 pound, i wont mention any names until the house is sold, or i give up.

ive told them my strategy the traditional estate agent marketed the house at 200,000 pounds and they have had a load of viewings but no offers.

We have decided between us to market the house at offers in excess of 150,000, i know people will say they wouldnt view houses advertised with the words offers in excess of, but like i explained to them, you can always turn a offer down, likewise you can always accept it.

What makes it interesting is the house next door which is identical is being marketed at 210,000, but they do have a conservatory.

anyway ill report back and let people know if e have any sucsess...

GoToGal

Looks interesting, do keep us up-to-date

googler

I can't fathom what your role is as intermediary.

Why can't they just hire the online agent themselves? Why do you need to do it?

If it's been with an agent already and they've brought in loads of viewers, then why not get the agent to phone around the previous viewers and offer it to them at, say, £20,000 off, giving a sale price of £180,000? Wouldn't that be more likely to achieve a sale at this level than an offers over price of £150,000 ?

new_home_owner_3

googler wrote: »

I can't fathom what your role is as intermediary.

Why can't they just hire the online agent themselves? Why do you need to do it?

If it's been with an agent already and they've brought in loads of viewers, then why not get the agent to phone around the previous viewers and offer it to them at, say, £20,000 off, giving a sale price of £180,000? Wouldn't that be more likely to achieve a sale at this level than an offers over price of £150,000 ?

These people who are very good friends dont use the internet and they are a lot older than myself, they told me about the agent they was using and how disapointed they was with them.

They then asked me if i would do it for them, and as it ont cost me anything just a bit of my time i have said i would do it for them.

I will be selling my own house in the future and i ill be wanting to do it as cheap as possible, and thats what im going to try and do here for my friends.

I believe and thats what im trying it at offers in excess as it will drag in a lot of interest and it might start a bidding war, if we tell the estate agent now to phone round and offer the house for 180,000 pounds they will still have to pay the 2% fee to the estate agent.

Not only this if we did sell it for 180,000 pound it would go up as sstc 200,000,when i looked at house that were sstc i wouldnt bother offering on them or phoning them up especially when the price is high, but when you see a sstc on a house thats at a very low price, i would be tempted to make a offer.

My philosophy is most people will know its worth more than 150,000 pound and this will reflect in their offers, i believe someone will only pay what they think a house is worth and if my friends are not happy with the offers they recieve they will have to keep the house.

anyway we will have to wait and see i havent got anything to lose, as its good experiance for the future, and my friends havent got anything to lose and hopefully they will save a 4000 pound fee they would have to pay the estate agent.

SGE1

half a percent?

celyn90

I don't think I would be impressed as a buyer if you said offers over 150K then didn't want to accept anything under 180K. Surely it isn't morally right to misrepresent your position so deliberately?

I wouldn't have a great deal of confidence dealing with you if I thought you were trying to encourage a bidding war either

But then I wouldn't offer on a sstc house - I filtered them from my searches when I was looking.

As much as people slate agents (often unfairly), it's things like this that make me realise I'd much rather they handled a house sale.

Procrastinator333

Don't forget, if one of those previous viewers now turns up and buys the property direct, the former EA will likely have a claim to their fee....

Interesting thread...

moneypuddle

With respect im not sure youve thought this through. youre going to maybe get a lot more offers of say £150k or £155k but that doesnt get your friends any closer to actual sale. no offence but its not exactly plan of the century is it?

new_home_owner_3

celyn90 wrote: »

I don't think I would be impressed as a buyer if you said offers over 150K then didn't want to accept anything under 180K. Surely it isn't morally right to misrepresent your position so deliberately?

I wouldn't have a great deal of confidence dealing with you if I thought you were trying to encourage a bidding war either

But then I wouldn't offer on a sstc house - I filtered them from my searches when I was looking.

As much as people slate agents (often unfairly), it's things like this that make me realise I'd much rather they handled a house sale.

I would just like to say no one as said they wouldnt accept offers of any set amount, if it so happens after a month the highest offer is 160,000 then that might have to be the amount they have to accept.

Its like selling anything if you had a car and you knew it was worth between 1000 and 2000 pounds and you advertised it at offers over 1000 pound, imagine the day it gets advertised you get loads of interest as you know its cheap for 1000 pound, but when the first person comes round and offers 1050 pound it doesnt mean you have to accept it.

we will have to see what interest they get, you will always get people who say they wouldnt view houses with offers in excess of, but when its up for 50,000 pound less than the next door neighbours i think it may generate some interest.

the main problem with any house is to generate interest, if people want to place a low offer it doesnt mean it as to be accepted, i wouldnt offer on a sstc house but i know a lot of people do as it hapened to me.

Now i would view a house with offers in excess of, if i made a offer and it wasnt accepted i would either walk away or make another offer.

A lot of people who have viewed the house are not even in a position to buy, and these people are the ones the estate agents send around tyre kicking.

If my theory works what i will tell them is to do a few viewings on a couple of days, and just tell the potential buyers to make offers if they are interested, then after a month take a look at the offers and then maybe accept the best offer with the best buyers who can procede.

googler

new_home_owner wrote: »

Im not going to post now until its all up and running, but if you people want to look at a estate agent that has been marketing and selling properties using this method, take a look here...

http://www.expressestateagency.co.uk/viewproperties.php

these have been getting very good reviews, maybe theyre nutters aswell????:rotfl:

Good reviews WHERE?

You're not talking about those on their own website, are you?

new_home_owner_3

googler wrote: »

Good reviews WHERE?

You're not talking about those on their own website, are you?

http://www.referenceline.com/trackrecord/references-by-value.asp?firmnumber=22399

http://www.referenceline.com/estate_agents-in-bury-expressestateagency-22399


these are just a few, i thought you may have googled it before posting, i also googled express estate agency problems and there wasnt many results