House on with 3 agents, any advice for buyer?

Crashy_Time

eddddy wrote: »

Ummm... have you replied in the correct thread?

The OP is asking about negotiation strategies with a difficult seller.

You've provided a link to an article about the risks of buying 'off-plan' in prime central London.

(I don't think the OP has mentioned buying 'off plan' or prime central London.)

You don`t think a downturn in the London market would have an effect on the sentiment of buyers and sellers elsewhere, and put pressure on someone who is already desperate (on with three agents!) to adjust their price expectations?

DaftyDuck

Crashy_Time wrote: »

You don`t think a downturn in the London market would have an effect on the sentiment of buyers and sellers elsewhere, and put pressure on someone who is already desperate (on with three agents!) to adjust their price expectations?

No, not really. Only you have quite such a fixation on trawling through endless reams of newsprint and screens of internet drivel.

Most people base their pricing expectations on what a snot-nosed teen estate agent says, how much their neighbour got for their (totally dissimilar) property two years ago, and what Quentin* said down the pub. All of which are more likely right than our resident misery-gnome!

Direct advice for OP. In this kind of situation, make real friends with the agent of your choice. Difficult seller and multiple agencies after the difficult commission... one agent wantses it all, and you can helps him. Given the opportunity, and he'll work in your (and his) interests.


*other friends down the pub available. Value of advice might vary depending on drinks downed. No comeback on any advice given. G & T excepted.

eddddy

Crashy_Time wrote: »

You don`t think a downturn in the London market would have an effect on the sentiment of buyers and sellers elsewhere, and put pressure on someone who is already desperate (on with three agents!) to adjust their price expectations?

The two markets aren't really related very much.

Prime central London property is a place for international investors to 'store and grow' their money.
(i.e. It competes with things like putting money into the stock exchange, buying gold, buying property in Hong Kong etc)


The drivers of the rest of the UK property market are very different.
(e.g. They include needing a place to live.)


And the drivers of a obstinate seller with 3 EAs are likely to be very different again.
(e.g. Maybe he's determined to get a particular price, and would rather keep the house than sell for less.)

Crashy_Time

DaftyDuck wrote: »

No, not really. Only you have quite such a fixation on trawling through endless reams of newsprint and screens of internet drivel.

Most people base their pricing expectations on what a snot-nosed teen estate agent says, how much their neighbour got for their (totally dissimilar) property two years ago, and what Quentin* said down the pub. All of which are more likely right than our resident misery-gnome!

Direct advice for OP. In this kind of situation, make real friends with the agent of your choice. Difficult seller and multiple agencies after the difficult commission... one agent wantses it all, and you can helps him. Given the opportunity, and he'll work in your (and his) interests.


*other friends down the pub available. Value of advice might vary depending on drinks downed. No comeback on any advice given. G & T excepted.

Sorry, remarkable lack of insight into how the London market has affected UK property over the years in that post. It doesn`t matter what the sellers expectations are, if the banks and buyers won`t play ball they have no game. If London tanks the banks will most definitely have a problem, as will anyone hoping to sell a house at inflated "bubble" values.

Crashy_Time

eddddy wrote: »

The two markets aren't really related very much.

Prime central London property is a place for international investors to 'store and grow' their money.
(i.e. It competes with things like putting money into the stock exchange, buying gold, buying property in Hong Kong etc)


The drivers of the rest of the UK property market are very different.
(e.g. They include needing a place to live.)


And the drivers of a obstinate seller with 3 EAs are likely to be very different again.
(e.g. Maybe he's determined to get a particular price, and would rather keep the house than sell for less.)

Some things for you to think about...


1) What happens when foreign investors stop wanting to "Store and Grow" in London, as is happening now?


2) Can you think of two ways that inflated London prices have been "Drivers" of prices in other parts of the country, and what will happen when London prices start dropping, as is happening now?


3) What happens to houses when they change hands at a cheaper price, do they a) Disappear b) Change colour or c) Stay the same?

DaftyDuck

Crashy_Time wrote: »

.... would have an effect on the sentiment of buyers and sellers elsewhere........ ?

You were talking about sentiment, not hard valuations by banks...

Mind you, I also think you quoted the wrong post in your reply

Crashy_Time

DaftyDuck wrote: »

You were talking about sentiment, not hard valuations by banks...

Mind you, I also think you quoted the wrong post in your reply

Not sure I quoted the wrong post, but are you saying banks are going to force people to borrow?

gettingtheresometime

Stick to one EA.

Crashy_Time

Best advice with this one is walk away.

DaftyDuck

.... Like you always have?

No reason to walk away until you've tested the water, and seen what the actual facts on the ground are.

Ignore Trashy: he reminds me of the Soothsayer in Up Pompeii "woe, woe, and thrice woe".