Help with wording explanation to EA..

mermaid85

Our house has been on the market for 9 weeks, with a price change to "offers in excess of" £200k which I was uncomfortable with, but constantly called about for a week until I gave in. Following this, we have had 2 people put in offers below £200k, as I had expected and the EA had assured me wouldn't happen!! We were originally on for £225k and looking for £215k.

We have had around 45 viewers, with a high percentage before the price change.

Now, EA is trying to pressure me into accepting £200k as it is "only worth what someone will pay." Now, I agree with this to some extent, but we went on the market for a specific property which has now sold, there is nothing else we want right now, so we are in no rush to sell.

How can I get across that although it is only worth what someone will pay, there is also a point where it makes no sense for me to sell?! I have a large garden and will be better off extending than accepting such a low offer. I spent 15 mins each yesterday and today, and he is calling me back tomorrow. We asked to be taken off of RM on thurs and this has only been done today as I've lost my temper. (we want to be priced without the "in excess of" and so want a break before it looks like a price jump)

lee111s

You just simply say, for the type of house I'm looking at, and what I'm able to borrow, I can't afford to take leas than X.

AlexMac

Three choices;
- sell for £195k or whatever
- get into fruitless legal/contractual argument with EA who will insist that as he has introduced willing buyers he deserves fee
- stall; let EA continue to show punters round, but make house unattractive (fry kippers, wear string vest and oversized Y-fronts for viewings, pick nose, buy pitbull...) and meanwhile engage architectural draughtsman / trusted builders and devise scheme to extend house to limits of permitted development or (if you fancy long debate over Planning Appliction) beyond. When diggers begin work on footings in back yard EA will realise your heart is no longer in this selling idea

amateur_house

It sounds like the EA is worried they won't get paid if you decide you don't want to sell, that could be why they are pressuring you to accept the offer.

dgtazzman

Just tell the EA outright you won't consider offers under XXX and if no offers on or over this price come in before his contract is over, you will take the house off the market and proceed to extend, rather than move. Also tell him to stop badgering you or you'll put a complaint in with whichever governing scheme he is connected to (if he is, at least) for harassment.

If I offered a fiver, I'd be a ready, willing and able buyer, doesn't mean it's realistic.

mermaid85

amateur_house wrote: »

It sounds like the EA is worried they won't get paid if you decide you don't want to sell, that could be why they are pressuring you to accept the offer.

this is exactly what I think is going on... our contract is 12 weeks.

I've tried making it as clear as I possibly can, we've seen their in house mortgage adviser and can only look up to £280, based on achieving the £215. yet he's suggesting a new build for £325?! We're in a 3 bed and would like a 4 (3 children) so the jump is a lot, at £280 we will struggle to find anything suitable.

I think I may have to go in a speak to them as we're getting nowhere over the phone, and it's very much on their terms when they call - so I'm often caught off guard and unprepared.

lee - I've tried that route and he's spent today trying to convince me that a 4 bed could come up at £260 :rotfl: not impossible, but highly unlikely when that's what a lot of 3 beds are going on for now in the area.

I'm tempted to just ignore any calls from them, but I need my front door key back lol

eddddy

mermaid85 wrote: »

Help with wording explanation to EA..

I don't think your wording is the issue - I'm sure the EA fully understands what you are saying.

It sounds like the EA is just 'bullying' you to reduce the price so that they get a sale.

I doubt that the EA will stop 'bullying' you just because you explain the same thing using different words.

You just need to stand firm.


(But I guess on the plus side for you as a seller, if they push sellers this hard to lower their asking price - perhaps they work equally hard at pushing prospective buyers to increase their offers.)

copperjar

You're the customer, just tell them what you are willing to accept and take house off market when your contract is up. They can't possibly still expect to be paid and you shouldn't be being bullied into doing something you don't want.

glasgowdan

Don't forget that getting a house extended is a huge undertaking that takes 6 months or more. I'd want to avoid that.

But with the EA, you don't need to feel pressured. Just say exactly what you want and stick to it.

Hoploz

Just tell the agent you no longer wish to sell, and take the house off the market.

Have a breather for a few weeks while you look for something to buy and consider whether or not it's the right thing to do.

Then if you decide to sell again, select a different agent.

Pixie5740

Have you seen an independent mortgage broker or just the EA's in-house one?