Estate Agent Bluffing?

akorn77

Hi All,

Went to see several properties this week. There was one in particular I had my eye on - and after viewing it, I loved it! However I'm trying to judge if the EA is bluffing on price?

Flat was originally listed at £500k in November. It was reduced last week to £475k. During the week, when I spoke to the EA he himself (I didnt ask) said they had a £450k rejected and today at the viewing he said they had a £460k rejected :undecided

When I asked him why it hadnt sold since November he said there was a buyer but the buyer pulled out. If the buyer did pull out, why would they drop it £25k? I would think, given that the seller had found a buyer, it means the price was sensible.

Oh and today he gave the usual tripe "Not to be a pushy estate agent but this flat will be gone by Monday morning. We have 6 more viewings for it".

My gut says he's trying to ramp up the price. But my head says, its a desirable location and flat is very well priced for the area and it could go fast. Hoping someone with more experience than me, could chime in

G_M

Stop trying to second guess the impossible.



Offer based on what you think it's worth, to you, and what you can afford.

chewmylegoff

They might be lying they might not be. Every time I’ve put an offer in on a house the agent has always told me there is a competing bid at the same price or higher and always other viewings for them to tell me about -remarkable coincidence that this always happens even if the house has been on the market for 18 months. I just try to ignore the agent.

Just make an offer you’re happy with - you’ll soon find out if the vendor is prepared to accept your offer and you can always increase it. If you do want to.

staffie1

If there’s one thing that is certain in this life, it is that you will be constantly lied-to throughout the buying process.
No point trying to decipher all the !!!!!!!!. Find a property you like, and offer what you are comfortable paying. If someone else beats you, then perhaps it was not meant to be. If you get it - great!

steampowered

Just offer what you are prepared to pay.

It makes perfect sense that the price has been dropped. Most sellers start off wanting the highest price possible, but after a few months on the market their priorities start to shift towards getting a sale.

There is every possibility that a £460k offer might be accepted now, even if the same offer was rejected several months ago.

Doozergirl

chewmylegoff wrote: »

They might be lying they might not be. Every time I’ve put an offer in on a house the agent has always told me there is a competing bid at the same price or higher and always other viewings for them to tell me about -remarkable coincidence that this always happens even if the house has been on the market for 18 months. I just try to ignore the agent.

Just make an offer you’re happy with - you’ll soon find out if the vendor is prepared to accept your offer and you can always increase it. If you do want to.

Now there's a blast from the past! :wave:

I agree.

If you put an offer in, the decision belongs to the vendor and no one else. Be assured, if the estate is working on you to offer high, they will also be working on the vendor to accept low so that can get the sale.

It is a fallacy that agents work for the vendor, they work for themselves.

poppy10_2

Estate Agents are notorious for lying about rival viewings/bids. Ignore it and offer what you think it is worth to you, if you want it

BooJewels

The price isn't the only factor in the seller's decision making process - maybe previous offers were from people they weren't sure they could work with (or in a long chain etc). Maybe at half a million there isn't room for sentimentality - but I think I'd personally take a bit less from a buyer I had a good feeling about, than more from someone I'd taken against. I did it recently when selling a car.

If it's meant to be, it will be.

[Deleted User]

If you think it is reasonably priced and you like it, why don't you make an offer (at the right value for you)? What the EA is doing is distracting you. You are over thinking this.

Marvel1

akorn77 wrote: »

There was one in particular I had my eye on - and after viewing it, I loved it!

Offer what you feel it;s worth to you, simple.

[Deleted User]

It may be that there was a buyer and he had a valuation that came back at an undervalue and he couldnt proceed and they dropped it by a bit
You just dont know
I bought my last house a while back, Im just buying another. This time Ive found all the estate agents really open, almost desperate to tell me their clients affairs ( and none were to make me “want” to buy the house or offer top dollar ) I found it rather odd ! Examples - landlord desperate to sell due to tax changes, house bought by cash house buyer company and they bought a few up from same family, owner wants to move back to family area, we think this house is overpriced and we’ve told the vendor, we’ve got offers in of “x” ....... I ignored as wasnt interested in those houses ( all different agents ) and low and behold they were all marked SSTC the next day.
Maybe I have a face people need to confess too