EA has really annoyed me!!!

[Roseelove]

Been on the market a week today has 3 viewings on Sunday, two where no hopes and one we could tell a mile off they was going to make and offer. Couple of days later they did the EA tang and said 'they've put in and offer, it's really low I don't know where they got that from' needless to say we declined it, next day they upped their offer by 5k we told EA no we want another 5k on top of that, that being the lowest we are willing to go ATM as we've only been on the market one week she said 'yeah that's what I was going to suggest' few days later no word so I've had to chase them and she's told us how they arnt willing to go any higher, that's fine we arnt willing to go any lower so that's the end of that. Then she turns round and says the branch manager, who actually wanted us to put it on for higher than we have, thinks that's a very good offer you should consider it! Well yesterday I spoke to her about something else and she never mentioned it then! AIBU to think they are all just snakes wanting their commission as soon as possible even if it's not in the best interest of their clients!? 😤😤😤 sorry for the vent but it just makes you wonder what they say to prospective buyers!

[bojorojo]

Depends how many buyers are around doesn't it? If people are going to fight over it, hang on. If you need to sell and buyers are a rarity you should have negotiated to keep the buyer. Are you confident more buyers are around? Also get three valuations not one. Then you get a better handle on the value. There can be huge differences in values. What have similar houses sold for near you? Are you in line? It also depends if they are a good buyer and can actually get the mortgage. Wanting it and affording it are two different things.

[Roseelove]

We're not in a rush to move and weve both said if we don't get the price we want we just won't sell, we've done this house up and absolutely love it the only reason we decided to sell was because we realised how much equity we had and could afford much larger detached property, we had 4 different valuations and the all came back the exact same price so we're on part there I think, we aren't in the valuation of the local selling prices because ours is very unique and different so that isn't a factor, that's why we had so many different valuations because we really had no idea of pricing, it's a bungalow we have and they've been marketing at people wanting a bungalow, but if your after your average bungalow this isn't the house for you, I think it should be marketed at people who are after a 3 bed semi

[Semaphorically]

The agent is incentivised to sell fast not to sell for your asking price.

For example, if a house is for sale for an asking price of £500k, if their fee is 1.5% they would make £7500. If they can get the vendor to accept a lowball offer of £450k they still get £6750 and they can quickly move on to selling the next house. Getting higher offers takes time and they would rather spend that time selling another house.

[Roseelove]

The majority of EA's around here are fixed fee and that's what this one is 🙄 So we are definitely not in their best interest they just want it out of their way as quick as possible, poor DH is feeling my wrath as I wanted to go with another agent that would've worked out deerer but I think they are 100x better

[wowfudge]

It's only been on the market a short time. It will be interesting to see if you do get any other offers.

[Roseelove]

That's what I think! I don't think it's in our best interest to jump on the first offer we get when we arnt happy with it! Like I said if we don't get the right price we just won't sell it, it has a lot of sentimental value to us so we won't be selling it for much less than we've been told we can get for it or that we want for it

[wowfudge]

The thing with somewhere that's unusual or a bit different is that you can't find directly comparable properties so the EAs are making a best guess when they value for sale. An awful lot of them price to flatter the sellers and get the business.

When we sold our last place, three agents all valued it within the same band. It was quite a lot more than we had thought. Given the asking prices and sales agreed in the area, we marketed the house at the lower end of that band as we felt that was more realistic and we wanted to move. As it was, we accepted an offer of nearly 6% under the asking price because it was the only offer we got and we were able to get our current house for less than the asking price on it. The figure we sold for btw was only a bit more than we had thought the place was worth ourselves before we put the house up for sale.

You either want to move or you don't. You have done a lot to the house and are rightly proud of what you have achieved. However, you have to detach and view selling as a business deal. As for the EA - they were probably trying to secure an agreed sale in February for their sales figures.

[Roseelove]

All the EA's come back with the exact same price and all said the exact same think about it being niche, which we do understand.
We do want to move, it a brilliant time we have seen a house we really like also, we just arnt willing to sell ourselves short on what it's worth, with them upping their offer of 5k in a few hours we know they think it's worth it and it most definitely is, I think their trying to play the long game hoping we'll ring them 🙄 But if the situation was different and we was desperate to move, were probably EA's worst nightmare! We've also decided if we don't get what we want we're going to remortgage and buy a doer upper to sell on 😩 Quite clearly very flipent indecisive people

[wowfudge]

Without knowing what was said to the EA when the offer was increased, it's difficult to know what they were thinking. It may be that they have now offered their maximum.

[PunjanaTea]

Well the people offering have clearly told you what they think it's worth. It's up to you whether you accept it or not. What percentage is £5k of the asking price?

Overall though I'd say the buyers are probably having a lucky escape as it sounds like you'd probably change your mind about selling sooner or later.

[Roseelove]

Yeah it's still early days an we are willing to sit it out
It's 7% under, and no we wouldn't change our mind if we got what we wanted for it, tbh it all comes down to the house we like and want, if we get our asking it means we will be able to do up the god awful kitchen what's in there, if not we can't so that's why we're on the fence we would never go back on our word and have said if we sell and don't find any where we are willing to move back in with parents

[MovingOnUpMovingOnOut]

I'm sorry I dont really see the problem? That all looks completely normal.

If you're getting this worked up at just a week in and offers stage how will you cope with chains and trying to agree exchange dates?

Just chill out a bit.

[Roseelove]

Well as you can tell we haven't done this before, when we bought this one it has been on the market 2 and a half years no offers and neither of us way in a chain so it was very simple, competed in 4 weeks!
It's the back tracking on what they've said what's annoying me I understand how it all works but when she says one thing to me and the compleate opposite to DH, I'm not to fond of that

[PunjanaTea]

That is quite a bit. The predominance of south-east based mumsnetters meant I'd assumed you were on for quite a lot more than that.

[Roseelove]

were in the NW so house prices considerably lower this end! Apparently we are over FTB prices, even though a lot of my friends have purchased their first house round about this price, I'll put you up a rightmove link if you want to see it, I think it is a big price drop even for a house on the lower side of the maket

[eemomma]

Rude! Accidentally posted the non cropped version and deleted as soon as I noticed, don't agree I think it's very unprofessional to be quite honest!

[AverysillyoldHector]

Are you the OP eemomma? I'm confused now

[eemomma]

Yeah, sorry name change

[MovingOnUpMovingOnOut]

Of course you did. That's why it doesn't say "message withdrawn blah blah"

[eemomma]

Erm yeah I reported it, someone must've done as well, as well as your comment!

[MovingOnUpMovingOnOut]

Yes I reported it. You were completely out of order.

[eemomma]

Yeah and you got there before me clearly! I only seen what I'd done when you'd replied that's when I reported it, you obv think the same about yourself for reporting your own too!

[MovingOnUpMovingOnOut]

I didn't report my own post. That's quite obvious as it is not a withdrawn post.

But I did deliberately word my post in such a way that you might report it and help draw MNHQ's attention to the thread :)