What EA can disclose.

AdrianC

Just123 wrote: »

Well the thread is not about the price itself.
Is about the EA and the way he was handling a talk with potential buyer.

He's got somebody who's interested enough to be considering placing an offer.
They're asking if there's potential movement in the price.

What do you want him to say?

But way he worded it took 5 k off asking price without any negotiation.

He doesn't decide what offer gets accepted. You do.

happyandcontented

I think this is probably pretty standard. Ultimately, whatever offer is made you decide whether or not to accept it.

getmore4less

This is about the price if you want to sell.

The EA valued it at 5k less than you wanted to market at.

They have put work in and getting no sign of a sale.

Some EA are not daft they probably new the baby monitor was on.

SpiderLegs

Just123 wrote: »

But way he worded it took 5 k off asking price without any negotiation.

You need an actual offer in order to start a negotiation.

Have you got one?

Bossypants

To be honest, having recently sold myself, I fully expected my EA to be having conversations like this one. The point is for the buyer to feel like they are somehow 'in the know', like the EA is letting them in on a secret/giving them inside knowledge because they (the prospective buyers) are special somehow. It's complete nonsense, of course, because most people would consider a £255k offer on a £260k house a reasonable starting point anyway, without the EA saying anything at all. The EA's is just trying to coax that offer out of them by making them feel somehow invested. After the offer is made, you can negotiate from there, but getting them invested is a necessary part of getting that crucial first offer. IMO the EA are just doing their job.

shortcrust

This wouldn’t have bothered me in the slightest. It’s just part of the EA schtick.

davidmcn

Just123 wrote: »

Is not the Scotland that you have to offer above the asking price.

No, you can offer what you like in Scotland. Quite routine for properties to sell at less than an "offers over" asking price.

AdrianC wrote: »

He's got somebody who's interested enough to be considering placing an offer.
They're asking if there's potential movement in the price.

What do you want him to say?

Quite. If he had said "under no circumstances will my client consider an offer 2% under the asking price" then buyers are likely to consider you some sort of nutter.

kdotdotdotdot

As a recent buyer, I've had this same conversation with every EA on a house tour. It's on my list of questions to ask: 'is there any flexibility in the asking price' and every EA except one has said there was.

Your house isn't selling and the EA wants to get something happening for you. Look on the bright side: you may soon have to make a decision on whether you want £255,000 soon, or hold out longer for more. How's that a bad thing?

steampowered

I don't object to what the EA said to be honest. Would you have been updated if the EA said "there can be no movement on price" and the buyer walked away as a result?

One of the main reasons for instructing an EA is so that they can have honest conversations with a potential buyer, without it getting too emotional.

You don't have to accept £255k if you don't want to. If someone thinks the house is worth £260k they will offer £260k.

MacMickster

I would strongly object to what the EA said. They are your representative. To tell a buyer that you are asking for £5K more than they valued the property at is certainly undermining your instructions to them.

Imagine a company sales rep talking to a prospective buyer and saying that they believe their employers goods to be overpriced. They would be out on their ear pronto.

I would immediately terminate your contract with them.