Page 3 | Getting estate agent in to value air bnb property

Boussa · 2023-03-24T11:42:52+00:00

For various reasons my partner and I have had to move into an air bnb close to our home. I absolutely adore the house we've moved to (via air bnb). It needs updating here and there but I still consider it my dream house. I've looked up the house on one of those websites that share house values but tbh it seems very low. My partner thinks it's acceptable to get an acquaintance in to value the property. In my opinion, this is extremely inappropriate and invasive. Is partner BU? Would it be cheeky to get someone in to see if we should even approach the owner? I would be willing to pay above asking.

SparkyBlue · 24/03/2023 12:38

Don't go getting valuations done that's massively overstepping but you can 100% ask them if they are interested in selling. They can only say no. A mum at the school asked her landlord recently and the landlord was very open to the idea. As far as I know they are in the process of buying the house snow.

Barannca · 24/03/2023 12:43

Can someone explain exactly why it's inherently wrong?
Because it is not their house. It's very rude to ask an estate agent to come round to value a house that you are temporarily renting and are not in a position to sell! And I doubt an estate agent would do that anyway. Their job is to sell houses not provide valuations to people renting a house.
It's fine to contact the owners and tell them you love the house and if they considering selling it you would love to buy it but getting it valued is not appropriate

ArdeteiMasazxu · 24/03/2023 12:44

the reason why it's stupid to get an agent involved is that it makes you look way too keen, and just the fact that you did such a thing will make any canny seller add an extra 20% onto whatever number they might otherwise come up with for an asking price

the price tracker websites work on the assumption that no one ever does any improvements on their homes. If someone bought a dilapidated husk of a property with holes in the roof and rising damp 5 years ago for £200,000 and has since spent £100,000 sorting out all the structural issues, putting in a new kitchen and bathroom and decorating it beautifully, the actual value is probably now well over £500,000 but the price tracker websites will still be pricing it as a fixer-upper.

LookingOldTheseDays · 24/03/2023 12:45

Those who think it's OK - would you be okay with one of your neighbours getting an expert to come and value the car that's parked outside your house? Or the land in your garden?

Or would you rather they asked you first if you might consider selling the car/land?

ALLIS0N · 24/03/2023 12:47

If the landlord own 40 properties she probably has contacts in every estate agency in the area and it will get back to her.

As a Pp said, it’s a commercial property not resident so not valued in the same way.

Whadda · 24/03/2023 12:48

This is actually one of the cheekiest things I’ve ever heard.

No idea what would make you think this puke ever be ok, OP.

londonrach · 24/03/2023 12:48

Wow that's rude. Not your house and house isn't for sale..waste estate agents time...

Barannca · 24/03/2023 12:52

The website valuation and my gut estimation are hundreds of thousands of pounds apart. Reason the idea of the EA came up
But if the owner decides to sell they will name.the price not you.
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ScholesPanda · 24/03/2023 12:58

LookingOldTheseDays · 24/03/2023 12:45

Those who think it's OK - would you be okay with one of your neighbours getting an expert to come and value the car that's parked outside your house? Or the land in your garden?

Or would you rather they asked you first if you might consider selling the car/land?

This might be why I see it differently.

One of the houses in my road is owned by a landlord.
He has previously offered to rent my lock-up from me. He also sent a message to our road's WhatsApp saying he was in the market to buy another property in the area. When I next saw him he told me he was considering another property but that mine was better kept and if I was willing to sell he thought it would be worth x.
I said no on both occasions. I have no doubt that given he has a successful business and several rental properties that he would have done his due diligence on value prior to approaching me on both occasions. On neither occasion did I think he was rude or cheeky, just a businessman trying to do a deal.
Possibly most people would be horrified though 🤷‍♀️.
Or perhaps it's a snob thing - ok for a male businessman to do it, but not ok for a female tenant?

OnMyWayToSenility · 24/03/2023 12:59

They might sell it to you.. just ask them!

They'll sell it for what they think it is worth... Airbnb makes a lot of money. So they'll be selling a business too. However, ttey may need to sell a property or 2 to free up cash.
The banks will only give you a mortgage on what it's worth. Obviously if they have 40+ properties they will know this.

So ask them? See what they come up with.. ask if you can have a valuation done. Come to an agreement.
Nothing ventured nothing gained.

Winter2020 · 24/03/2023 13:02

How about (in writing) you thank them for a lovely stay and ask them how much they would have to be offered to consider selling.

A valuation is irrelevant as the owner is under no obligation to sell you the property. The estate agent could value at 450k and it’s completely irrelevant if the owner wouldn’t sell for less than 600k.

Catspyjamas17 · 24/03/2023 13:15

I don't see anything wrong with it. Go for it, they can only say no.

LookingOldTheseDays · 24/03/2023 13:32

ScholesPanda · 24/03/2023 12:58

This might be why I see it differently.

One of the houses in my road is owned by a landlord.
He has previously offered to rent my lock-up from me. He also sent a message to our road's WhatsApp saying he was in the market to buy another property in the area. When I next saw him he told me he was considering another property but that mine was better kept and if I was willing to sell he thought it would be worth x.
I said no on both occasions. I have no doubt that given he has a successful business and several rental properties that he would have done his due diligence on value prior to approaching me on both occasions. On neither occasion did I think he was rude or cheeky, just a businessman trying to do a deal.
Possibly most people would be horrified though 🤷‍♀️.
Or perhaps it's a snob thing - ok for a male businessman to do it, but not ok for a female tenant?

Show quote history

His due diligence will have just involved knowing the prices on the street, and looking at the house from the outside. Then he asked whether you might be willing to sell, and gave you his ballpark estimation.

He didn't organise an EA to come inside and actually value your home, did he? It's not the same.

ScholesPanda · 24/03/2023 13:47

LookingOldTheseDays · 24/03/2023 13:32

His due diligence will have just involved knowing the prices on the street, and looking at the house from the outside. Then he asked whether you might be willing to sell, and gave you his ballpark estimation.

He didn't organise an EA to come inside and actually value your home, did he? It's not the same.

Show quote history

No he didn't ask an estate agent to come inside my home but as I've already said the OP is talking about an investment property where she is the occupant, not the owners home.
He did have a good nosey around under the guise of 'seeing what I'd done to the place' when he came in for a coffee once (he asked first).
I also believe he would have gone to his estate agent and spoken to them for advice rather than just done a quick google.
Buying agents are definitely a thing where I live now, and most landlords I know with a few properties have an agent, solicitor etc. that they regularly consult. Property prices are higher than average here though and stuff sells quickly.

lazycats · 24/03/2023 13:48

Is this a wind-up? If you’re that interested, talk to the owner directly.

FishChipsMushyPeas · 24/03/2023 14:14

Haven't been able to find an actual floorplan.

And why should you? The property isnt even for sale, you arent an interested potential buyer for a property that is on the market.

Just contact the owner and say that you are very interested in buying and for them to get in touch if they ever want to sell.

The owner will get the valuation and you can decide whether you want to pay it. If you are happy to pay a lot over the other valuation of it why would you need your own right now? If the seller values it higher than your friend, its not like you can use it to sway them.

2bazookas · 24/03/2023 14:23

You're being completely unacceptable. Jesus what a cheek, what entitled disregard for the owners privacy and security!

If I found a BB/AIRBNB guest had invited any stranger into MY PROPERTY, let alone an estate agent to poke around and value my property/ contents while getting a good look at my locks, alarms, access, valuables etc,then those guests would be out the door on the spot.

FriedEggChocolate · 24/03/2023 14:35

Also be mindful that the AirBnB is a business, not just a property. If there's a good turnover for this property, it makes sense not to sell a golden egg, as it were.

Rewis · 24/03/2023 14:39

Dotjones · 24/03/2023 12:08

Can someone explain exactly why it's inherently wrong?

If the estate agent is happy to value it, and there's no pressure put on the owner, why exactly is it wrong to ask someone if they'd be willing to sell their property at more than it's worth, especially if they're letting it out on AirBnB rather than living there.

It kinda feels like if a friend gave you a key to water plants and then you have someone come around to evaluate the house. It's not their property

Ihavekids · 24/03/2023 14:40

Just make an offer to the owner. No harm done. I don't see what the point of getting a valuation is, a quick look on rightmove will point you in the right direction. Especially pointless as you're saying you'd pay over market value. Just offer!

2bazookas · 24/03/2023 14:42

Dotjones · 24/03/2023 12:08

Can someone explain exactly why it's inherently wrong?

If the estate agent is happy to value it, and there's no pressure put on the owner, why exactly is it wrong to ask someone if they'd be willing to sell their property at more than it's worth, especially if they're letting it out on AirBnB rather than living there.

Because OP are named, temporary, paying guests in the owners home. Not secure tenants.

They've got no business inviting any third party into the hosts property. Or letting in strangers with a commercial interest in to case the joint, take a look at the security arrangements, value the property, or any of the contents that catch their eye and they might like to acquire.

SunshineAndFizz · 24/03/2023 14:59

LookingOldTheseDays · 24/03/2023 12:19

Contact them and ask if they'd at all be willing to sell, and if so offer to arrange/pay for an evaluation.

Only a foolish owner would use a valuation that the buyer has organised. The buyer could get your EA mate to do it, and ask them to undervalue it. The owner will want to arrange their own evaluation if they have any sense at all.

No one has said it would be a mate doing it or anything. It would be an agreed person/company doing the evaluation but it's a gesture to offer to arrange it given they're the ones proposing a sale.

Shoemadlady · 24/03/2023 18:09

Why not ask the owner if she'd be prepared to sell?

Cam22 · 24/03/2023 18:24

2bazookas · 24/03/2023 14:23

You're being completely unacceptable. Jesus what a cheek, what entitled disregard for the owners privacy and security!

If I found a BB/AIRBNB guest had invited any stranger into MY PROPERTY, let alone an estate agent to poke around and value my property/ contents while getting a good look at my locks, alarms, access, valuables etc,then those guests would be out the door on the spot.

Good grief, calm down. You lot are thoroughly enjoying the pile on. Lol

Cam22 · 24/03/2023 18:25

So much indignation over nothing.