Estate agent tactic

Ybe

Is it an estate agent tactic to say to the potential buyer they are being too slow on deciding whether to increase offers and that it will mean the buyer will no longer be taken seriously by the vendor? And that a higher price is likely to get the deal. Then when sticking to the offered price they then say the vendor will consider it over the next week. 

SeanG79

maybe but could be the seller hoping from more and not agreeing - estate agent will usually want the sale agreed ASAP and move on to the next one...

TBagpuss

Maybe. Or it could be the seller. All you can do is wait for a response and in the mean time, carry on looking.  

Persian_DG

Ybe said:

Is it an estate agent tactic to say to the potential buyer they are being too slow on deciding whether to increase offers and that it will mean the buyer will no longer be taken seriously by the vendor? And that a higher price is likely to get the deal. Then when sticking to the offered price they then say the vendor will consider it over the next week. 

To me this suggests they're desperate for you to raise your offer! Sticking to your guns is the right thing it feels. If you do offer any increase upon their response then make it minimal and odd. I.e. if you've made an offer of 200k then make your next one like 201700 with a suggestion youre "scraping"

fishfingerbutties

SeanG79 said:

maybe but could be the seller hoping from more and not agreeing - estate agent will usually want the sale agreed ASAP and move on to the next one...

Exactly. The agent works for the seller and their instructions, and commission. 

AdrianC

Persian_DG said:

Ybe said:

Is it an estate agent tactic to say to the potential buyer they are being too slow on deciding whether to increase offers and that it will mean the buyer will no longer be taken seriously by the vendor? And that a higher price is likely to get the deal. Then when sticking to the offered price they then say the vendor will consider it over the next week. 

To me this suggests they're desperate for you to raise your offer! Sticking to your guns is the right thing it feels. If you do offer any increase upon their response then make it minimal and odd. I.e. if you've made an offer of 200k then make your next one like 201700 with a suggestion youre "scraping"

That would have me looking towards the other potential buyers, for fear of absolutely anything bringing around an attempt to negotiate back down...

AnotherJoe

Ybe said:

Is it an estate agent tactic to say to the potential buyer they are being too slow on deciding whether to increase offers and that it will mean the buyer will no longer be taken seriously by the vendor? And that a higher price is likely to get the deal. Then when sticking to the offered price they then say the vendor will consider it over the next week. 

Or imagine they say nothing, then next week when you make a bid the EA says "sorry the vendor thought you weren't interested and accepted an offer yesterday"

In these times, in many areas, being cute by making the vendor think you arent interested, can backfire. 

Persian_DG said:

To me this suggests they're desperate for you to raise your offer! Sticking to your guns is the right thing it feels. If you do offer any increase upon their response then make it minimal and odd. I.e. if you've made an offer of 200k then make your next one like 201700 with a suggestion youre "scraping"

If I am a vendor the last thing i want is a buyer thats scraping the barrel to afford my house, I'll take the one that can easily afford it, wont try and drop the price after a £500 issue on the survey, or a 2% undervaluation means they cant afford it.

Play stupid games, win stupid prizes.

 

Doozergirl

It doesn't matter what you think the game is.   The price is not right at the moment. 

Thinking about it over the next week means 'hopeful for a better offer elsewhere'. 

Pointless analysing.  The offer is either acceptable or it isn't.  The estate agent is going to be pushing hard on the vendor to accept an offer.   They push both sides to find an agreeable
point, not just one.  

Mickey666

Doozergirl said:

It doesn't matter what you think the game is.   The price is not right at the moment. 

Thinking about it over the next week means 'hopeful for a better offer elsewhere'. 

Pointless analysing.  The offer is either acceptable or it isn't.  The estate agent is going to be pushing hard on the vendor to accept an offer.   They push both sides to find an agreeable
point, not just one.  

This!  There are a million reasons (at least ) why sellers, buyers and EAs do what they do and no-one can possibly know all the reasons behind how someone is behaving.  And ultimately their reasoning doesn't even matter.  All that matters for a deal to be done is for buyer and seller to agree on a price.