One house - two prices

rubble2

Just curious really, a house near us went on the market a number of months ago with a local estate agent. As we know the market is pretty slow at the moment so with no sale after a few months a second agent was appointed - both boards erected outside house and both listings appearing on Rightmove.
Recently, the price/listing under the second agent is showing a reduced price but the listing under the original agent is still showing at the original price.

Just wondered, is there any reason why this would happen or have the sellers just forgotten to tell the original agent about the price drop? Surely the agents can see the reduced price listing on Rightmove just the same as we can?

Thanks

Bookworm105

you won't know why unless you ask the vendor 

Mark_d

There could be multiple reasons why the same property is listed at different prices.  Suppose your property is honestly worth 470k.

One agent might suggest that advertising for 500k will give you room for negotiation whilst still being able to achieve a price of 470k.

One agent might suggest that you should advertise at the realistic price of 470k and stick to your price.

Another agent might suggest using a Rightmove threshold price just above 470k - that would be 475k.

If the seller is using multiple agents then they might as well try different advertising strategies.  Why would you pay dual agent fees if both agents would put exactly the same advert up on Rightmove?

Scotbot

Probably forgot to tell EA1 ir EA1 has forgotten to update RM

theartfullodger

Could be original agent figures they may still be entitled to their % commission and wants to leave (literally) a stake in the ground.

You'd probably need to read original conditions and relevant correspondence to judge likelihood of them winning. 

ReadySteadyPop

Mark_d said:

There could be multiple reasons why the same property is listed at different prices.  Suppose your property is honestly worth 470k.

One agent might suggest that advertising for 500k will give you room for negotiation whilst still being able to achieve a price of 470k.

One agent might suggest that you should advertise at the realistic price of 470k and stick to your price.

Another agent might suggest using a Rightmove threshold price just above 470k - that would be 475k.

If the seller is using multiple agents then they might as well try different advertising strategies.  Why would you pay dual agent fees if both agents would put exactly the same advert up on Rightmove?

It is honestly only ever worth what someone will pay, you can`t know that value in advance.

ReadySteadyPop

rubble2 said:

Just curious really, a house near us went on the market a number of months ago with a local estate agent. As we know the market is pretty slow at the moment so with no sale after a few months a second agent was appointed - both boards erected outside house and both listings appearing on Rightmove.
Recently, the price/listing under the second agent is showing a reduced price but the listing under the original agent is still showing at the original price.

Just wondered, is there any reason why this would happen or have the sellers just forgotten to tell the original agent about the price drop? Surely the agents can see the reduced price listing on Rightmove just the same as we can?

Thanks

Depending on how long the reduced price has been up it is entirely possible that both prices could be wrong for the market.