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'Sold vastly over asking price'

(29 Posts)
Graceflorrick Wed 19-Apr-17 10:24:51

AIBU to think that writing 'sold vastly over asking price' on Rightmove isn't something that will help the agents future sales?

Surely it says that A, the agent undervalues properties, or at the very least fail to acknowledge the popularity of the area and B, why bother making offers unless you can afford to pay well above the asking price.

AIBU?

http://www.rightmove.co.uk/property-for-sale/property-62890832.html

*Did I link it properly?

Graceflorrick Wed 19-Apr-17 10:31:52

I can't link it but here's a picture.

FlyingElbows Wed 19-Apr-17 10:39:17

Well it would help them here because that's totally normal in Scotland.

Graceflorrick Wed 19-Apr-17 10:43:18

This is in Clifton, Bristol. I've never seen it before and I just feel completely deflated and feeling that I'll never be able to afford to move blush

JigglyTuff Wed 19-Apr-17 11:01:05

Estate agents work for vendors, not buyers. Houses go for what people are prepared to pay for them.

user1492458803 Wed 19-Apr-17 11:04:08

The person selling the house pays the estate agent's fees so of course they'll try and get the highest price, most of them are commission based too!

Going over asking price is totally normal, we got in a bidding war for our house and we went a bit over asking, my grandparents house went for 12% over asking price.

user1491572121 Wed 19-Apr-17 11:05:10

What Jiggly said.

grannytomine Wed 19-Apr-17 11:05:43

Bristol property market is just like that and even worse in Clifton. Maybe look at surrounding areas? Personally I think Clifton is overpriced.

AyeAyeFishyPie Wed 19-Apr-17 11:09:51

Don't worry OP - not all houses well for over the asking price. We have had an offer accepted for 95% of the asking price. Don't be put off.

Graceflorrick Wed 19-Apr-17 11:12:29

Fair points. I've never ended up in a bidding war or experienced anything like this before. I've offered at asking price (or even below) and generally had offers accepted.

I'll look at alternative areas, granny. I'm beginning to agree with you about Clifton.

Graceflorrick Wed 19-Apr-17 11:13:22

Thanks Aye.

HomityBabbityPie Wed 19-Apr-17 11:15:04

There are way cheaper areas than Clifton which is hugely overrated imo.

PNGirl Wed 19-Apr-17 11:18:07

Clifton is ridiculous. I also say widen the search!

They're trying to attract people to sell with them i.e. if you put your house in Clifton up now in someone will pay well over its value because they're popular enough to get into a bidding war.

Dumdedumdedum Wed 19-Apr-17 11:20:43

<Misses point completely> I'd probably pay that for that flat, in that location!

grannytomine Wed 19-Apr-17 11:23:30

Graceflorrick, good for you. The clever people buy in an up and coming area and benefit from prices rising so be a trend setter and reap the rewards.

Applebite Wed 19-Apr-17 11:31:28

You know - in my experience, vendors THINK estate agents are working for them, as they are paying the fees. But sometimes they are more on the buyer's side. Say they are getting 1.5% on £500,000. There's little in it for them if it goes for £500,000 or £480,000 or £460,000 - they'd rather get a commission than nothing. On many occasions I've seen an agent pressuring the seller to reduce it just to get a property sold quickly.

butterfly990 Wed 19-Apr-17 11:55:48

Redlands and Sneyd Park are lovely areas as well of Bristol.

NinonDeLenclos Wed 19-Apr-17 11:56:46

Estate agents are on the side of getting a sale.

As a Londoner, 450 for a two bed flat in a good area is a pipe dream bargain. In my area they start around 800.

f83mx Wed 19-Apr-17 11:57:28

Another vote her for widening your search area you'll get more for your money than Clifton (Bishopston, St Andrews, Southville?), however be prepared that in many popular Bristol areas houses still sell over asking - few people i know who have sold recently have gone for 15-20% over asking so bear that in mind with your budget! Not sure why agents don't just price more realistically though.

Shortdarkandfeisty Wed 19-Apr-17 12:00:42

A friend just bought in Clifton and paid £825k on something advertised at £650k - this was at auction but it went to sealed bids so...

That's vastly over asking price! Or guide price I suppose.

Shortdarkandfeisty Wed 19-Apr-17 12:01:11

Southville is horrible though isn't it?

f83mx Wed 19-Apr-17 12:04:30

Shortdarkandfeisty - lol - is it, in what way?!

GinAndTunic Wed 19-Apr-17 12:05:01

That is a gorgeous flat. I hope the new owners will be very happy there.

Madcats Wed 19-Apr-17 12:20:37

The trouble is that you are also competing with a load of people who've abandoned London/south-east and find Bristol and Bath prices an absolute steal. Over here in Bath they often do "offers in excess of" is a place is a bit quirky /has a beautiful location.

What about going the other side of the Downs?

HomityBabbityPie Wed 19-Apr-17 12:29:13

ninon you're looking in the wrong areas! Where I live in Hither Green you can easily get a 2 bed for 450 and it's a lovely area too.

Islington/Hackney etc - no chance.

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