Why won't the agent take no for an answer?

getmore4less

Read the the letter.

It is saying there will be no buyers at £140k+

You need/want £140+

Remove from market

That's conversation Tues.

AdrianC

Rightmove link...?

If £240k really is way out of line with the local market, and the £210/215k offers are where it should reasonably be priced, then you're wasting the agent's time continuing to market it.

How much it "owes you" doesn't affect a realistic selling price one jot.

iammumtoone

Gwendo40 wrote: »

For once in my life I'm going to side with the agent in this case.

Your house is obviously on for a deluded and unrealistic asking price and you might as well stop wasting everyone's time... potential buyers, your agents and your own... and just remove it from the market.

That depends what the agent said at the original valuation. If they said £250 then its the agents fault if they said £220 but the OP insisted they want it put on for £250, then the OP should take some responsibility but in the same instant in that situation the estate agent should have known what they were getting into when they accepted to market the property.

[Deleted User]

If you don't absolutely need to sell then just take the house off the market. Situation sorted (and block the estate agents number/email addy).

However, if you want to sell at some time in the future, cool down a bit and have a think about the 'unprofessional digs' the estate agent made. They might have some basis for being made, however badly put.

daveyjp

FreeBear wrote: »

A relative of mine sold her house three years ago to a "lovely couple that were desperate for a family home".... The buyers converted the place in to two flats and flipped the place for a tidy profit. Suffice to say, the relative was quite miffed about it. So never trust anything an estate agent tells you. If their lips are moving, they are probably lying.

So what? I assume the previous owners wanted to sell?

An offer was made, the seller was happy at the price offered and it sold. What subsequently happens is of no consequence to the seller.

If the seller wanted to restrict conversion or benefit from value uplift they could have included clauses in the contract.

AdrianC

^ What Davey said, stirred gently with "Perhaps the buyer was the one who lied to the EA?"

MortgageDonkey

Agree with the majority of posts, pretty much stems back to their initial valuation

At least it seems they are trying to sell, too many EA's just seem to sit back and hope

robatwork

Cuilean wrote: »

Our local market is currently dead.

Realistically, we need to achieve £240k to avoid a real-terms loss. If it's not achievable, we'll just take it off the market, and we've been honest with the agent about that.

I've had similar, odd conversations with people I wanted to buy from. "Oh but I need to get 240k so I can afford the place I am buying".

It's totally irrelevant to the buyer, the market and the EA what you need or think it's worth. If you make a "real-term" loss there's nobody to complain to.

You will need to take it off the market. Don't expect the EA to not put offers forward, they have to.

Sibz

I'd be asking the EA where this advice about the house price and issues was when they were touting for your business. Where did the original valuation come from?

Also - what you need to get back means nothing regarding the house value. The only way to clear that part up on here is to put a link up for the listing. The market seems fine to me recently but it really depends on a few things (no. of bedrooms, location etc) Where I am ex council 2 bed types are in fairly high demand but large houses are on the market longer as they're competing with a lot of new build developments going up.

You haven't said how long it's been on the market either so it's hard to give any real informed opinion other than if you can't sell under 240k then you can't sell undr 240k

diggingdude

I would tell estate agent £240 is least you can accept or at best if agents waives their commission you can take that off the price for this family also. Watch them go quiet then