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Original poster

How to get estate agents to listen to what I'm asking for

56 replies

xylofone · 19/10/2022 07:34

Feel a bit daft asking for help on this, but I'm struggling.

Soon to engage the services of an estate agent - will get 3 quotes - and want to get the message across to them that I'm not looking for a quick sale, or a swift reduction in price, to get one. I'll hold out, possibly for several months, to get the very best price. Naice house in naice area and no chain. I'm moving to live with family so won't be buying another property.

Have tried getting this message across when phoning round agents but they don't seem to get it and say they'll aim to sell as ASAP even if I need to take a hit. No!!!!

I know they want their commission as soon as possible but I need them to be on board with my approach. I want to get as much as I can for my property and I'm in no rush to sell. Surely that's not too difficult to understand. I'm in a highly sought after location; houses don't hang around for long.

How do I phrase this so they listen and understand where I'm coming from? I'm an intelligent, generally assertive, person capable of stringing sentences together but don't seem able to communicate in a mannar that estate agents are prepared to comprehend.

Please help me to talk in estate agent speak so they grasp where I'm coming from.

OP posts:

MilkToastHoney · 19/10/2022 08:10

Holding out for several months to get the ‘best price’ isn’t usually the best idea. You risk a limited choice of buyers, potentially being badly messed around as people know you are trying to get a high/higher price.

Pricing it realistically means you are likely to get lots of buyers in at once, it could easily go over asking and sell for higher than your ‘best price’ anyway.
More importantly, it leaves you in a good position to choose your buyer. Someone who you feel won’t mess you around, is in a secure position etc.
If there is a lot of interest/multiple offers because you’ve priced it right then the buyer you go with is less likely to start asking for a reduction further down the line due to survey/interest rates/house prices.

LoraOldSpot · 19/10/2022 08:21

In this economic climate with interest rates going up I don’t think I’d want to wait months!

CocoFifi · 19/10/2022 08:22

The market is starting to fall, due to mortgage interest rate rises and it becoming harder to get a mortgage. People will pay what your house is worth to them, not necessarily what you think it’s worth. Put it on too high and it will sit on the market, you will carry on paying all the overheads until it does sell. Don’t be greedy be realistic

Motnight · 19/10/2022 08:24

Motnight · 19/10/2022 07:50

Just say no! Our estate agent obviously wanted a quick sell (house was offered on before it was even advertised). We just said every day that he phoned - let's keep it on the market market for a little while longer. Got 6% more than the original offer.

To be fair I think that from signing on at the estate agents and accepting the offer took about 3 weeks. We really wanted to sell, just didn't want to accept a lower offer than we needed to.

triedeyes · 19/10/2022 08:24

They are not listening because you clearly know nothing about selling houses.

Summersdreaming · 19/10/2022 08:29

What PP said, I don't think you're quite understood the way the market is going. If you get someone able to take on a mortgage on a 'naice' house in the current market you should bite their hand off, or stay put for the next 5+ years.

Summersdreaming · 19/10/2022 08:29

*you've

Jessiesthedog · 19/10/2022 08:42

mcdog · 19/10/2022 08:09

But an estate agent won't take on your house if they don't think you actually want to sell. Why would they spend money with advertising, and viewings etc when you don't seem to want to actually sell your house quickly. They don't get paid until it completes.

Literally less the only ones that will touch your house under those circumstances are the big chains who literally don’t care whether you sell it or not because they’re not gonna get very much in the way of commission either way so they can take on your house to hit there listings quota and then it will just sit there and you’ll be complaining in six months time that you’ve had appalling customer service and you have and you deserve it.

personally in your situation I would wait to listed in January, divorce season. I would say that’s when you’ll achieve the best price possible in this market and if you don’t sell it then, whip it off the market for a month, refresh/reduce otherwise it’ll be old news by spring and thats your two bites of the yearly cherry gone.

LondonJax · 19/10/2022 08:55

Just tell them you need full asking price offers. Nothing lower, you won't be accepting them. So ask for a realistic, full asking price, valuation. Some estate agents will give you a slightly inflated valuation then encourage you to drop the price if it doesn't sell. Do your homework around your area so you know what you're likely to get as a valuation from them and don't be too tempted by the 'amazing' valuation (it probably is just that...amazing). Go for the middle ground. If your estate agents are good they'll probably all come in within a similar price range

BlueMongoose · 19/10/2022 08:59

Many EAs do what they feel like doing, pretty much regardless of what you tell/ask them, unless it's a legally binding instruction.

BlueMongoose · 19/10/2022 09:00

(right now, in this selling climate, 'holding out' for the best price seems to me to be a bit- coughs unwise)

dudsville · 19/10/2022 09:01

Your post reads to me as if you want the EA to not come back to you with suggestions outside your started brief. It goes against selling practices. They're not in it for you so they'll do what they need to for their business. You, however, as the seller agree or disagree and yours is the ultimate decision. You just need to prepare yourself to respond to their suggestions.

Mildura · 19/10/2022 09:05

Of course, because it's a well known fact that the longer a house sits on the market without going under offer the better price you end up achieving.

NoSquirrels · 19/10/2022 09:06

You’re saying you want the best possible price for your property.

The estate agents are saying that in order to get the best possible price, you should aim to sell it quickly, and that means don’t price it too high.

You are hearing - we’ll sell it at a knock-down rate to get our commission ASAP.

Take a breath, and listen to what they’re really telling you. As others have said, the market is stalling, if not falling. Properties that linger on the market usually are subject to ‘cheeky offers’ and take longer to sell. Additionally, the estate agents know that people selling their last property, like you, are more inclined to over-value it and not consider decent offers properly.

Get the 3 valuations. See how you get on in person with the estate agents and what they can offer. Negotiate hard on commission. But do not get hung up on ‘I’m happy for it to be on the market for ages’. You’ll be marked as a tricky client and they won’t put maximum effort into selling your property.

senua · 19/10/2022 09:12

If you are not in a hurry then why put it on the market now? The run-up to Christmas is never a good time to sell. Wait until next spring and meanwhile plant loads of cheerful bulbs in the garden!

Mildura · 19/10/2022 09:12

"Two economists walk down a road and they see a twenty pound note lying on the pavement. One of them asks “is that a twenty pound note?” Then the other one answers “It can’t be, because someone would have picked it up already,” and they keep walking.

ChicCroissant · 19/10/2022 09:12

Why does it matter to you what the EA thinks - if you don't like an offer, you don't accept it. Job done. Can't see why you have to have the EA thinking along the same lines as you, let them do their job and see what happens.

cantley · 19/10/2022 09:52

So you say to them I won't accept a penny under £500,000 ( or whatever your price is).
You immediately cut out many potential buyers with such a rigid attitude.
If you're willing to do that, just make that your instruction.
If your house is wonderful it will sell quickly even if the price is a bit high.
If it's bog standard and one of dozens it will sit around like my friend's house did - she got her price but it took a year.
Up to you.

MingoDringo · 19/10/2022 12:14

I think there's some great advice on here

MilkToastHoney · 19/10/2022 12:21

Of course, because it's a well known fact that the longer a house sits on the market without going under offer the better price you end up achieving.

😂basically this!!

Babygirlnameq · 19/10/2022 12:25

Yes I have to agree with PPs here. If a house hangs around on the market a long time, it’s generally because it’s overpriced. And viewers tend to think that too.

Decide on a price you think it’s good and don’t accept offers under, that’s all. You don’t have to accept what EAs bring to you, but they do have to bring all offers to you.

But you sound a little like you want more than the property is “worth”, to be honest…

arethereanyleftatall · 19/10/2022 12:34

You haven't thought this through whatsoever.
Of course estate agents aren't going to want to do what you ask are they?
'Hi, please can you do all the work for free to list my house at an overpriced price, which won't sell and then you'll never get paid?'
'Um, really surprisingly, no.'

BuryingAcorns · 19/10/2022 12:35

OP, when we had to sell my parents' house we asked four agents for a price. 3 very pushy hard sell ones gave us similar prices. One quiet old-fashioned one gave us a much higher price. So we put it on with him. He sold it within three days at full asking price! Same happened when we sold out own house.

The horrible, sharky ones talked themselves up but actually they were only interested in turning a quick buck. Go for some middle aged man who's been doing it forever. Avoid the twenty-somethings who are auditioning for The Apprentice.

Original poster

xylofone · 19/10/2022 17:26

All comments appreciated and have taken all on board.

Thanks to Motnight who I think got where I was coming from

OP posts:

donttellmehesalive · 19/10/2022 17:34

I think you're imagining a problem where there isn't one. They'll come out and value your home. That is the time to say that you are in no rush and are willing to wait for the best possible price. See what they all say. Go with the highest valuation. Say no to any offers.

I do think it's a daft strategy though. The longer you're on, the more likely it is that people watching the local market will think that there's something wrong with it. Dozens on here since March or April, no reductions, no sales, and all talk is of further slumps in the market.

Why not price realistically, get shot of it before a crash, invest the money.

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