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Agent consistent with listing about 15-20% above house worth

(18 Posts)
drummergirl34 Tue 27-Jun-17 16:55:57

When I saw the first house I thought maybe the vendor was a bit nuts, but looking at the agent's site and all their houses are listed at way more than they should be. Is this a bad warning sign about the agents, a cheeky attempt to confuse outsiders, something to keep chancers away, or just a bad agent?

drummergirl34 Tue 27-Jun-17 16:57:03

Just to add, with some houses - the price is almost double what I would (even optimistically) price it at

StarTravels Tue 27-Jun-17 17:00:46

Are their houses selling?

drummergirl34 Tue 27-Jun-17 17:04:36

one has had an offer put down which I'm still interested in, but there's no way it'll be near the asking price

TheCrowFromBelow Tue 27-Jun-17 17:15:05

Whilst they will want to get the best price they can, it's not in their interest to list too much over as they will not get that price.

Are you saying that just one agent is listing at more than 20% of others in the area you are looking in? I saw your other thread about properties under offer.

Tatlerer Tue 27-Jun-17 18:23:50

Sounds like Foxtons!

TurquoiseDress Tue 27-Jun-17 19:05:30

Yes I was going to say- definitely sounds like Foxtons! confused

drummergirl34 Tue 27-Jun-17 20:11:18

Not foxtons ;) Sadly there aren't enough houses in the area being sold to compare with other agents.

sall74 Tue 27-Jun-17 20:26:38

EA's have been relying on the bulk of their income from the lettings fees gravy train for quite some time now and the actual business of selling houses has just become a minor sideline, more of a vanity project and willy waving exercise over who can ask the highest prices...
Once the lettings fees ban is introduced EA's might have to actually get back to relying on commission from residential sales in order to make their living, they're going to need much greater sales volumes for that to happen so they'll have to stop pandering to greedy vendors and their deluded expectations of what their houses are worth and actually start pricing houses to SELL rather than just sit on the market for months/years with little or no interest.

Thesingingtoad Tue 27-Jun-17 20:28:36

Hamptons?

Bluntness100 Tue 27-Jun-17 20:30:11

Well they have to actually sell the houses, as they will have a whole organisation in place to enable it. As such I suspect some are over priced, this is typical to drive the market, but I suspect uou are also under valuing and just don't realise what they are selling for.

Bluntness100 Tue 27-Jun-17 20:31:37

I also would add the one you think is valued at double is wat makes me think uou don't understand the market. If you provide a link folks can comment if it's realistic.

drummergirl34 Tue 27-Jun-17 20:32:02

I'm not going to name the agency!

Sall74: do you mean the letting fee of the £200+ that EA's ask for so they can "verify" you when moving to a new property is being banned? Thank goodness for that - the landlord is responsible for it, not the tenant.

Bluntness100 Tue 27-Jun-17 20:34:47

I'm not going to name the agency!

Why? If you think the houses are over priced and are interested in buying then providing a link and saying the area will provide you with some validation of either your views or the agents prices. Either way it helps you.

PickAChew Tue 27-Jun-17 22:12:21

There's one in our area that lists really high. Unfortunately, they seem to shift the most houses in our street, so we may end up going with them, but they originally listed a house up the road, for £79K, a year ago. That's the absolute top whack it could have expected if it was in tip top condition, only it's not - a very old and infirm lady lived and died there, so it's very dated, the garage is falling down, the garden completely overgrown and some of the windows are single glazed with wooden frames that haven't seen a coat of paint or varnish in decades and, if it's anything like our house sometimes tries to be, it'll be leaking like a colander in all directions.

A year on, it's up for auction with a guide price of £47K.

The prices that houses have actually sold for are always interesting. There are so many factors that can make a huge difference to the seller, including the sheer luck of having more than one person really wanting the house.

Havingahorridtime Tue 27-Jun-17 22:16:36

Auction guide prices mean nothing as many houses sell for way over the guide price of there is enough interest in that property.

OlennasWimple Tue 27-Jun-17 22:27:46

Zoopla shows what houses have actually sold for

Tulips2lips Wed 28-Jun-17 10:31:01

you can do some good estate agent research on home.co.uk.
Here's a random (cough) example:
www.home.co.uk/search/agents/property_statistics.htm?agent=6817

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