Letter from estate agent - "We have buyer waiting"

DominicJ_2

I received a letter from an estate agent, saying they have a buyer looking for property in my area.
I assumed this is just a marketing con, both because it obviously is, and because a quick look on right move shows 4 similar local properties, but then figured, maybe there is someone desperate to buy my house.....

Mallotum_X

I get these letters all the time.

If you want to sell then ring them up, say their interested buyer can have a look. But that you are only allowing that one buyer, as they wont have to market your property then they can sell it for half the normal commission. Win-Win the agent has no work to do yet still gets a fee!

You will find they dont have a buyer lined up and will want you on normal t+c's

DominicJ_2

At the higher prices on rightmove, hell yeah I want to sell, but then, if they had a buyer at that price, why wouldnt they be buying the already advertised house?
Just being greedy.

I've never had one before, so just thought I'd confirm.

Mallotum_X

The other one that has appeared near me are signs on roundabouts. Printed (but made to look hand made) onto yellow plastic saying something like "Hi my name is sue, we are looking for a house to buy in the area, any condition, will pay your valuation, ring me ...",

betmunch

The last EA I worked in only did this when they actually had a buyer looking for that type of property. The EA before that just made it all up to try to get houses on the market.

Basically you wont know unless you call them!

However, I really like Mallotum X's suggestion. If its true then there is no work to be done, no marketting to pay for so why wouldnt an EA take 50% fee? Get an agreement to market it to 1 person for half the usual fee and see where it goes from there.

Cambridge32

It depends where you live. A work colleague has lived for decades on an (apparently) extremely desirable road, and gets letters through the door from all and sundry on a regular basis asking whether the house is for sale. Our mid-terrace rental in a high-crime area in the middle of a large estate does not get these sort of enquiries.

Itismehonest

I've found that if someone sees an unmarketed property they really want they usually knock on the door & speak to the owners. I'm not sure why they'd approach an estate agent if they can deal privately. The buyer would probably be able to get a better price when the vendor is not dealing with an agent.
I'd presume that this sort of letter is just EAs touting for business in the same way as the fancy brochures that arrive.

Yorkie1

Houses in popular areas will always be targeted by EAs - I know because I'm in one and have letters through the door regularly.

I like the approach suggested by Mallotum X above, very creative.

But if the EA won't go with it, and the buyers are real and interested in the area, then the buyers will surely be monitoring all relevant EAs / Rightmove. So shop around all your EAs to get the best selling deal, then advertise and I would expect the buyer to come anyway.

Property_Auctions

In my experience the better estate agents don't need to leaflet in this manner.

They will get their business from a good reputation and word of mouth.

The buyer looking for property in an area approach is as old as the hills I'm afraid.

motherofstudents

Yeah, I've seen lots of those signs at roundabouts, that Sue gets around doesn't she. Have had a few leaflets through the door from agents which I just take a marketing ploy.

Contessa

An estate agent told me something similar recently. I did wonder why, if they had eager buyers waiting, did they want a 26 weeks tie-in to market the house?