Offered 10% below asking price

eidand

Ath_Wat said:

eidand said:

EAs don't have to do anything, if the vendor instructed them to not put forward anything below a certain number. I can't speak for all vendors but when I was selling we did the same, don't send me anything below that.

I don't really understand why anyone would do that.  How many offers are you expecting?  For the sake of taking a couple of phone calls and saying "no, too low", I'd just much prefer to be kept up to date with what is going on.

We had quite a few very low offers.

We had one who started very low and started to offer 1k more every time we said no. After the 3-rd or 4-th we said enough, please no more, this is the minimum we're willing to accept, we can start talking there. Anything else, don't bother us.

Ath_Wat

eidand said:

Ath_Wat said:

eidand said:

EAs don't have to do anything, if the vendor instructed them to not put forward anything below a certain number. I can't speak for all vendors but when I was selling we did the same, don't send me anything below that.

I don't really understand why anyone would do that.  How many offers are you expecting?  For the sake of taking a couple of phone calls and saying "no, too low", I'd just much prefer to be kept up to date with what is going on.

We had quite a few very low offers.

We had one who started very low and started to offer 1k more every time we said no. After the 3-rd or 4-th we said enough, please no more, this is the minimum we're willing to accept, we can start talking there. Anything else, don't bother us.

To be honest I wouldn't do that either.  "The minimum we are willing to accept" can very quickly become "the maximum anyone is going to offer", especially if the estate agent wants a quick sale rather than properly representing your interests as they should do.

eidand

Ath_Wat said:

eidand said:

Ath_Wat said:

eidand said:

EAs don't have to do anything, if the vendor instructed them to not put forward anything below a certain number. I can't speak for all vendors but when I was selling we did the same, don't send me anything below that.

I don't really understand why anyone would do that.  How many offers are you expecting?  For the sake of taking a couple of phone calls and saying "no, too low", I'd just much prefer to be kept up to date with what is going on.

We had quite a few very low offers.

We had one who started very low and started to offer 1k more every time we said no. After the 3-rd or 4-th we said enough, please no more, this is the minimum we're willing to accept, we can start talking there. Anything else, don't bother us.

To be honest I wouldn't do that either.  "The minimum we are willing to accept" can very quickly become "the maximum anyone is going to offer", especially if the estate agent wants a quick sale rather than properly representing your interests as they should do.

true, but it all worked out, we got the price we wanted