How to phase ‘we want money knocked off’ email

ACG

Crashy_Time said:

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

A lot of thinking will have been done through this period of lockdown and big decisions may have been made .

I don't think anyone truly knows what will happen to house prices but if there is a hit I'm pretty sure it will be a short , sharp one and will recover reasonably quickly .

IMO I don't think they will take a hit at all .

In regards to the OP and answering the question,  call the agent and just state due to uncertainty we have to reduce our offer by x amount.
Nothing more , nothing less.

If I was the vendor I'd be very quick to reject it and re-list on RM pronto 

Nice to dream maybe, but a lot of economic data says that this is looking increasingly unlikely, hence the reason that a load of amateur investors are probably hoping they will be able to offload their properties, can`t see it happening  TBH, many people will be stuck with property they don`t want for some time to come IMO.

You really are a positive sole arnt you.
I hope you do not say you are a realist as you have been saying house prices are over priced for what? 5-6 years? maybe longer. Brexit did not really pan out as you hoped/expected, I am not convinced corona will either. 

babyblade41

JammyMatt said:

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

A lot of thinking will have been done through this period of lockdown and big decisions may have been made .

I don't think anyone truly knows what will happen to house prices but if there is a hit I'm pretty sure it will be a short , sharp one and will recover reasonably quickly .

IMO I don't think they will take a hit at all .

That's an interesting conclusion to gather from that information, any detail on the types of sellers listing?

Could this not actually be an indication that investor sentiment has changed? I would have thought a sudden glut of properties being listed at speed might suggest investors and/or downsizers have recognised prices have hit their peak, and are now looking to cash in before significant reductions become a certainty? Isn't this exactly the sentiment shift that would speed up a potential crash?

Surely a more positive indication would have been a glut of FTBs calling for viewings, as the bullish investor sentiment seems to be to sit-tight rather than sell up.

The above could indicate that investors are making a sudden rush for the door?

The agency is in a lovely part of Wales and most of their buyers come from England to re-locate.

It appears a lot of people can still work remotely as is the case now but enjoy the  countryside in any part of the country with the benefit of lower prices.

Splatfoot

babyblade41 said:

JammyMatt said:

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

A lot of thinking will have been done through this period of lockdown and big decisions may have been made .

I don't think anyone truly knows what will happen to house prices but if there is a hit I'm pretty sure it will be a short , sharp one and will recover reasonably quickly .

IMO I don't think they will take a hit at all .

That's an interesting conclusion to gather from that information, any detail on the types of sellers listing?

Could this not actually be an indication that investor sentiment has changed? I would have thought a sudden glut of properties being listed at speed might suggest investors and/or downsizers have recognised prices have hit their peak, and are now looking to cash in before significant reductions become a certainty? Isn't this exactly the sentiment shift that would speed up a potential crash?

Surely a more positive indication would have been a glut of FTBs calling for viewings, as the bullish investor sentiment seems to be to sit-tight rather than sell up.

The above could indicate that investors are making a sudden rush for the door?

The agency is in a lovely part of Wales and most of their buyers come from England to re-locate.

It appears a lot of people can still work remotely as is the case now but enjoy the  countryside in any part of the country with the benefit of lower prices.

We are looking to buy in Wales so the more properties on the market, the better. Coming from the congested South East where prices don't really stagnate for long, it's an exciting time. 

Crashy_Time

ACG said:

Crashy_Time said:

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

A lot of thinking will have been done through this period of lockdown and big decisions may have been made .

I don't think anyone truly knows what will happen to house prices but if there is a hit I'm pretty sure it will be a short , sharp one and will recover reasonably quickly .

IMO I don't think they will take a hit at all .

In regards to the OP and answering the question,  call the agent and just state due to uncertainty we have to reduce our offer by x amount.
Nothing more , nothing less.

If I was the vendor I'd be very quick to reject it and re-list on RM pronto 

Nice to dream maybe, but a lot of economic data says that this is looking increasingly unlikely, hence the reason that a load of amateur investors are probably hoping they will be able to offload their properties, can`t see it happening  TBH, many people will be stuck with property they don`t want for some time to come IMO.

You really are a positive sole arnt you.
I hope you do not say you are a realist as you have been saying house prices are over priced for what? 5-6 years? maybe longer. Brexit did not really pan out as you hoped/expected, I am not convinced corona will either. 

Brexit has barely started, we still have to go through the motions of negotiating before we leave on No Deal, as if anyone cares anymore now that the biggest economic downturn in our lifetimes has popped up. How many people on here were chanting that Brexit would never happen, and even that this virus was no big deal, a blip? Laughable really TBH. BTW I think you mean Soul rather than a fish?

Thrugelmir

ACG said:

Thrugelmir said:

ACG said:

I am trying to play devils advocate here, I am not saying the next few months will be all plain sailing, but I think unless we see mass redundancies like we did in 2007/8 then I think any effect on house prices will be limited. 

Impact was on certain sectors back then. City bankers were able to survive redundancy. This time the damage is far broader and wider. 

I think (I could be completely wrong) this time it will affect more lower income people, people in hospitality and retail. I think as a rule, that will have a lesser impact because more of those people may live at home, it may be a second job or a job in between studying. 

Redundancies will be across the board. Every level. Was speaking to someone earlier this week. Was a senior manager for an online betting operation. Himself plus 50 of his team beneath cut in one fell swoop. With no sport there's no business. Only option is to downsize the operation. 

scrola

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

A lot of thinking will have been done through this period of lockdown and big decisions may have been made .

I don't think anyone truly knows what will happen to house prices but if there is a hit I'm pretty sure it will be a short , sharp one and will recover reasonably quickly .

IMO I don't think they will take a hit at all .

In regards to the OP and answering the question,  call the agent and just state due to uncertainty we have to reduce our offer by x amount.
Nothing more , nothing less.

If I was the vendor I'd be very quick to reject it and re-list on RM pronto 

Good to hear that things are really looking up for  EA's in Wales, pity our covid-19 restrictions have not changed, unlike England vis viewings, not moving etc.

On the flip side RICS and others are calling for Stamp Duty to be suspended to "kick start" the market.

So I guess we are still sitting in the dark about what is really happening.

blue_max_3

Albert121 said:

Nobody asks for advise to offer more, so this is the hottest topic these days. That suggests there is downward pressure on prices. It just needs a national newspaper to headline prices dropping to complete the circle.
You just have to read that this is being called the 'recession to end all recessions' to know it's going to be tough.

This is very strange!
You have copied my exact post from 13th May (4.37pm), but not commented or added anything!
I'm flattered if you are agreeing, but either quote me or compose your own post please.

numbercruncher8

Just seems quite silly that people are using their own experience to try and pre-judge things. I've said that before and it still rumbles on. Your own anecdotal advice is of no use to the OP unless you live in a similar location and buying a similar property.

It also amazes me that most have simply ignored the little tit-bits of side information they did provide: at the projected price they are taking out borrowings as well as a mortgage, and that they have observed prices falling.

Let us also say that while they feel they were also squeezed up in the bidding there is no real context on where this price may sit in the current market.

For example, I give you this: (check previous offered prices)
https://www.rightmove.co.uk/property-for-sale/property-64570911.html

The mentality here from some is that cheeky bids are frowned upon, but nobody says anything about cheeky starting prices? £500k in that case was absurd.... even offering 25% off to start would have been reasonable, IMO. Yet here we are with people deriding 10% off blind, often using the old 'if I were you, I'd tell you to f--- off', or in the case of a drop 'if I did that, I wouldn't be able to live with myself'. Without context, how would you ever know?

Sometimes I wonder if people genuinely want OPs to get the best deal they can, or simply to push their own agenda. In the vast majority of cases not enough information is ever given out by them to really say for definite either way. I guess that most of you know this, but put out your opinion anyway. That goes for both bears and bulls. Morally bankrupt, in my view.

MobileSaver

JammyMatt said:

babyblade41 said:

Just to add my 2 pence worth, a friend who is an EA has had calls through the roof in the last 24 hours to market new properties.

That's an interesting conclusion to gather from that information,
Could this not actually be an indication that investor sentiment has changed? The above could indicate that investors are making a sudden rush for the door?

Where did the suggestion that this was anything to do with "investors" come from?!?!

Occam's Razor would suggest that the simplest explanation is the most likely... loads of homeowners who were planning on listing their property in March/April anyway felt they weren't able to due to Covid-19 but are listing now as a result of the revised government guidance.

Crashy_Time said:

JammyMatt said:

The above could indicate that investors are making a sudden rush for the door?

Daily Mail and RICS seem to think so.

RICS are saying BTL landlords are rushing to get out of the market? Is that why they are predicting rents will keep rising for at least the next five years?

scrola

numbercruncher8 said:

The mentality here from some is that cheeky bids are frowned upon, but nobody says anything about cheeky starting prices? £500k in that case was absurd.... even offering 25% off to start would have been reasonable, IMO. Yet here we are with people deriding 10% off blind, often using the old 'if I were you, I'd tell you to f--- off', or in the case of a drop 'if I did that, I wouldn't be able to live with myself'. Without context, how would you ever know?

Sometimes I wonder if people genuinely want OPs to get the best deal they can, or simply to push their own agenda. In the vast majority of cases not enough information is ever given out by them to really say for definite either way. I guess that most of you know this, but put out your opinion anyway. That goes for both bears and bulls. Morally bankrupt, in my view.

Totally agree, last year 4 EA's gave market prices of between £475-595K on our house. If we had marketed it at £595K a "cheeky offer" of 20% below asking would still come within that range.

I know that the range of prices I had was probably a bit extreme but but I do wonder when some vendors say my my house is worth £xK and I won't accept a penny less. Is it better to refuse outright to negotiate now in the hope that you get your price in a couple of months or worst case end up accepting a lower offer. For purchasers know your maximum and work up to it, accepting that you may end up paying your upper value or needing to walk away.

We had 6 "cheeky offers" which we were not insulted by as any offer is better than no offer. We negotiated on all of them, never thinking to tell any of them to Foxtrot Oscar. We sold at a discount of 2.1% on our listing price, having NEGOTIATED a price.

You want to sell, they want to buy, it's about getting to a point were you are both equally un/happy, if that doesn't happen then there will not be a sale.

I have no idea what is happening with house prices at the moment, but it you have to decide your own "value" and negotiate based on that, if the other party doesn't agree, no sale, move on.