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Petition: Estate agents are overvaluing houses and pricing people out
Comments
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If I was an unscrupulous estate agent I would be trying to put downward pressure on valuations to get a quicker sale.3
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The even more unscrupulous would put upward pressure on the valuation when bidding for the business, to win the client. Then once they sign, find a reason to get a new valuation, and put downward pressure to get a quick sale.steve866 said:If I was an unscrupulous estate agent I would be trying to put downward pressure on valuations to get a quicker sale.
This is what they do today, after all.0 -
Salemicus said:
The even more unscrupulous would put upward pressure on the valuation when bidding for the business, to win the client. Then once they sign, find a reason to get a new valuation, and put downward pressure to get a quick sale.steve866 said:If I was an unscrupulous estate agent I would be trying to put downward pressure on valuations to get a quicker sale.
This is what they do today, after all.Well yes that’s probably quite accurate, however I don’t think they are causing the upward pressure on prices.0 -
A RICS valuation will list a few sold prices on similar properties. They are no more accurate than anyone doing due diligence on the selling price. Then you adjust based on whether you need an urgent sale or just want to test the market.
Most asking prices are slightly optimistic and most buyers offer a little less. That's the way the dance works.0
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