Estate agents tricks

real1314

callmechar wrote: »

Had this today, EA refused to accept our low offer "as the seller had had higher in the past" and would not accept any less, so offered an amount 15k below asking (started at 25k below) and thats being considered

Sounds like the EA did their job well there.

Let's just do some maths though

If an EA gets 4% of the sale price (that's high isn't it?);

£250k = £10,000
£240k = £9,600


Is the extra £400 really worth a load of hassle for the EA to get that bit extra, especially if it means £10,000 8 weeks later than £9,600?

Or, does the vendor's appreciation of the extra £9,600 they get result in more business for the EA, and is part of their deal with the vendor anyway?

2.5% on a £100k vs £97k property sale? Wooh £75.00
:cool:

googler

chirp wrote: »

I have found that quite often estate agents stop buyers from putting in an offer by saying ......

...based on your interaction with how many agents? Over how many sales or purchases?

Strapped

Urban myth. EAs want to make sales. No sales = no fees. They're not that bothered how much it actually sells for tbh.

googler

real1314 wrote: »

Let's just do some maths though

If an EA gets 4% of the sale price (that's high isn't it?); .....

2.5% on a £100k vs £97k property sale? Wooh £75.00

The OFT determined that average EA rates in Scotland were 1.10% a couple of years or so ago.

Sale at £122,000 = £1342
Sale at £125,000 = £1375

Extra £33. Would you throw away the £122k offer to try for £125k?