Discrete Marketing of a house

eddddy

The way you describe things, it sounds very much like the agent is trying to scam you.

i.e. Setting up a way to sell the property cheaply to an "associate".


Even if the EA isn't trying to scam you - "discreet marketing" means fewer people will know the property is for sale, so there will be less interest, so there will be less competition, so it's likely to sell for less.

The loss in price will outweigh any saving on EA fees.


You should get 2, 3 or 4 other EAs to look at your property and see what they say.

Mutton_Geoff

I agree, this can only be in the agents interest, not yours. Open market is the best way to achieve the best price. There will be hundreds if not thousands of eligible buyers not known to the agent who will pick it up on Rightmove.


I'd probably be reluctant to sell to first time buyers or any other inexperienced purchaser who may trip up as soon as they see the backside covering survey that will come their way as they try for a max LTV loan on it. Other than that, maximise the marketing and vet your buyer carefully before accepting an offer.

robatwork

Can you give a rough idea of what area in the country you are?

When I sold in the home counties near London this year I knocked an EA down to 0.65% (sole agency) so 1% isn't earth shattering.

Discreet to me means they are doing half the work and just punting it out to people on their books. It will still be visited by the great unwashed and just have a smaller catchment so I don't really get it.

Finally and most importantly. Estate Agents lie. Not all of them all the time. But all of them some of the time. And some of them all of the time.

peterhjohnson

Thanks for all the comments :-)
1. Discreet marketing wasn't my idea, I was expecting the usual service and suspect we may well go for that in 2 weeks.
2. I've noticed for a long time that EAs struggle to price houses in this street correctly. It's such a mixture of house sizes and ages - quite different from large estates of identical boxes
3. The results of 2 weeks discreet marketing will be an useful litmus test. Yes, we could go for the standard approach and reduce if necessary but with a buyers hat on, I dislike/distrust houses that I believe are overpriced and then come down. I'd rather go public with the right price. Also, it's difficult to increase the price later if that's the right thing to do?
4. While I'd like as much £££ as possible, I'm nearly as keen to get "enough" for my future plans with minimal stress - and £X would do nicely. Also, the market I'm looking to buy in is small - I would like my buyer to be fairly flexible on timing.
5. The flat 1% of £X is flat - If I sell for (say) £X+10%, I still pay the agent 1% of £X (+VAT)
6. Some local agents around here put 1.5%+VAT on their websites
7. I've had another agent around who:
- Wanted 1.5%+VAT but offered to match the 1% +VAT but only if I signed with them that day:rotfl:
- Suggested much more than £X simply because they were a better agent
- Deployed lots of other pressure selling tactics:mad:
8. I'm having a 3rd agent around tomorrow.

AdrianC

peterhjohnson wrote: »

5. The flat 1% of £X is flat - If I sell for (say) £X+10%, I still pay the agent 1% of £X (+VAT)

Ah. Then "1.2%" is a strange way of expressing that. £(X x 0.012) would be a far better way of saying it's a flat fee.

I'm using 1.2%, because I presume you're not reclaiming the VAT...

peterhjohnson

Sorry. It's me expressing it that way to avoid mentioning my actual price. The agent offered me a fee of (this is a lie) £1234.56+VAT regardless of the eventual selling price would have been better

[Deleted User]

If he genuinely has a buyer on a list it wouldn't take more than a few days to call through that list.

Tell him he can have a single viewing contract for each person that comes round. Then you are not tied in to anything and you dont have to market publicly with an agent that is obviously telling you whatever you need to hear to get your business.