ESTATE AGENTS - What a waste

[foxhole]

Just sold the house , first people thru the door bought it.
Went with YOPA estate agents after getting quotes from 4 others . They gave the highest valuations by quite a high margin. Was dubious they could achieve figures given but to their credit achieved £90k more than the base figure given by the other estate agents. Seems the local “reliable”agents are way out of touch with prices.Yopa we’re also up to £5k cheaper than local agents.

 

[securespark]

What do you mean by what a waste?

The money lost by selling at a lower price?

 

[blup]

It’s not uncommon for agents to put a property on for below market value where demand is high for properties in a desirable area. The competition for desirable properties means people will bid well over the asking price. I suspect yours ticks these boxes and would have sold for the same or similar price through a bricks and mortar agent. The downside of putting the property on at full market price is that if the sale falls through people will notice if goes back on for less.

My experience of on line agents - not YOPA - is that their lack of local knowledge didn't help with the kind of issues that come up after the offer has been accepted.

That said five grand is five grand.

Blup

 

[foxhole]

Yopa have been excellent ( never thought I would say that about an estate agent) and they have shown a far greater knowledge than local agencies . They use local people so have the same info to work on as other agents .Way more than just the fee saving as they achieved more than 10% more on the price than the others.

 

[foxhole]

What do you mean by what a waste?

The money lost by selling at a lower price?

Waste of time following all the recommendations to use local agents with their supposed superior knowledge of the local market .

 

[securespark]

Waste of time following all the recommendations to use local agents with their supposed superior knowledge of the local market .

Gotcha, ta.

 

[Dork Lard]

<makes note to self> Use YOPA next time you fool.

They obviously better than everyone else, the t'internettys says so.

 

[gas112]

local agents usually have several people they are in cahoots with and getting back handers from for giving them the heads up about properties they purposely under value

 

[blup]

There are certain types of property that "sell" before or just after they go on the market.

Blup

 

[charliegolf]

In recent months round here, folk have been selling via Marketplace on Farcebook. Think of a value, double it and add £20! (It seems...)

And it has been working...

 

[bolo 2]

There are certain types of property that "sell" before or just after they go on the market.

Blup

Early in the 1980s I decided to downsize and approached a local estate agent to handle the sale. He paid a visit and then said that he was going to save me a fair bit by not advertising etc because he had a list of customers expressing an interest in properties like mine. I was so glad that I went along with the idea because within a week we had 8 viewings and 8 offers all of them at £5000 to £6000 more than we had expected. We bought a new build bungalow for cash and we’re left with around £10,000 to play with. The icing on the cake came when the highest bidder started making offers for items we had intended putting to auction. I still marvel at the fact that he offered £80 for a fridge we paid £85 for at Asda and also bought almost every item of furniture in the house. The buyer was happy because he had not only bought a house, he had bought an almost fully furnished house.

 

[Notch7]

Just sold the house , first people thru the door bought it.
Went with YOPA estate agents after getting quotes from 4 others . They gave the highest valuations by quite a high margin. Was dubious they could achieve figures given but to their credit achieved £90k more than the base figure given by the other estate agents. Seems the local “reliable”agents are way out of touch with prices.Yopa we’re also up to £5k cheaper than local agents.

people looking for houses search right move and you dont need to be a bricks and mortar estate agent to have a right move account


One thing to bear in mind: around 50% of house sales fall through at survey now

basically the survey is used as a bargaining chip / blackmail - and buyers now are happy to throw in a decent offer to secure the house and then get it discounted to what they wanted to spend after the survey


Be very very careful with the BS on surveys -they are worded deliberately to be used as a tool to negotiate money off

 

[The Samaritan]

Always sell it for more than what EA says at least test the market. Tell them clearly who you want to view your property, eG, cash, ready to buy, no chain, etc,etc. Most EA's are as honest as most politicians,.

 

[motorbiking]

Estate agents earn the money keeping complex chains alive. But yes it’s a dated business model that is slowly reforming.

 

[The Samaritan]

Estate agents earn the money keeping complex chains alive. But yes it’s a dated business model that is slowly reforming.

Always DYOR, check fees and the cheapest, the highest priced EA may not be the best

WARNING: All the smiles, banter, nice talk etc is to win you over and the money they are to make from you. EA interest is making a sale and a sale is made more readily if your property is being sold at below value as an EA only makes money once a transaction has been completed.

Test an EA, ring up as a prospective buyer if you want to sell and tell them you is interested in viewing asap and see what they say and when they return your call. Ask them questions re property not advertised and see how quickly they get back to you and if any delays the reasons.

The longer-established EA's often better but never forget the qucik sale, mid sale and the longer time sell prices are mostly BS.

At times, you may get someone desperate that will pay 10% more than any relatic price at the time as the property is in an enchanchement area for a school close to parents, children etc or work.

Test the market and if you are like us - tell them no dreamers IE those that have not even got a buyer for their place or people making an offer and pulling out.

Thanks