Do Estate Agents select better buyers and get better prices?

Vectis

You say you were 'approached by a local buyer'? How did this occur? Did someone just knock on the door on the off-chance you might be selling it? Or have you already been advertising the property yourself?

It certainly wouldn't hurt, would it, to invite some agents around to give their valuation. You might find that your potential buyer is offering well below the market value, which is very likely to be honest as you're not, at present, talking to any other prospective purchasers (and he obviously knows this).

csgohan4

DRP wrote: »

Get valuations (three local agents), then decide your asking price.

IF the existing buyer doesn't want to pay that much then you can immediately instruct one of the [STRIKE]chancers[/STRIKE] estate agents.

Actually, IMO the most valuable thing an agent will do is the 'progression' after the offer is accepted. In my sales/purchases, they did a lot of leg work to get the deal done.

IF you/your partner are prepared to handle this yourself, then the £s savings can be substantial.

What legwork would the EA do? just a phone call and an email? They can't tell a buyer to hurry up with their valuation or survey appt can they?

When i bought, the EA didn't chase me. In fact I did everything through the vendor as it was less hassle and didn't have to wait a week for a reply.

benawhile

Vectis: Circumstances were off-chance. At this stage we have already had a few valuations as well, all around the same price, but the uncertainty is, according to my partner and the the preferred agent, once it is marketed then higher offers, from the "several interested buyers" the estate agent has lined up, may come in.

Chelsea__Thomas

Use GetAgent to compare Estate agents & find out what Estate Agent fees are in your area.. you can book valuations with the top 6 Estate Agents... they will give you the best valuations and you can understand better if the price the private buyer if offering, is a good one!

Private buyers are more proactive in getting things moved along, so if they are offering the price the Estate Agents think its worth, is there harm in selling to them?

questionss

benawhile wrote: »

Vectis: Circumstances were off-chance. At this stage we have already had a few valuations as well, all around the same price, but the uncertainty is, according to my partner and the the preferred agent, once it is marketed then higher offers, from the "several interested buyers" the estate agent has lined up, may come in.

I think this EA sounds like a chancer! Is the house particularly special, in an exceptional location, something where things sell in seconds? I can think of one road locally that has buyers waiting for somebody to die (they don't move out)... Here houses are in short supply but Other than that road -- yes good houses get lots of viewings & maybe a few offers but even here there are not massive bidding wars.

benawhile

Questionss: Hard one to answer objectively. It is to an extent in a "better area" in a road of detached houses. Lots are demolished and rebuilt with re-enforced security after sale. But I can't say if these have been sold "quickly" or not. It's in the South East, isn't the market supposed to be pretty active there right now?

questionss

benawhile wrote: »

Questionss: Hard one to answer objectively. It is to an extent in a "better area" in a road of detached houses. Lots are demolished and rebuilt with re-enforced security after sale. But I can't say if these have been sold "quickly" or not. It's in the South East, isn't the market supposed to be pretty active there right now?

We're in the south east, commuter belt. Good houses, well priced sell quickly but I wouldn't say lots go for over asking. Google the ones that have been sold, search the results for old/removed right move listings, compare to land registry prices and you'll get an idea if how long they took from advertising to completion which will give you an idea. If your guy is inline with vLuations I'd go with him but i'd get minimum of 3 (we got 8 on ours due to variation... Went with above average but not highest, achieved very close & above the average valuation)