Change estate agent?

[cobbledstone]

I really feel like the estate agent isn't too bothered what price our house sells for. We are doing all of the viewings. We've just had 2 offers - it's priced at offers over £350k and both buyers have offered that. EA simply said have a look and see which buyer you prefer

Surely that's the point you tell the buyers to put in their absolute highest offer?

I'm feeling really p' off now that I didn't insist it was marketed at £375k as that's really what I feel it's worth and at least then they could have offered under and I'd still have got what I need.

I've got to wait til Monday now anyway but I'm thinking of just putting my foot down and saying I want/need £370k as a minimum so tell the buyers to up their offers! My fault I realise that now. Maybe a warning to others - always go with your gut instinct!

Just to say - even at £375k it's an excellent buy - fully renovated to a very high standard. Complete Do er uppers in the same road are going for £340k (as in, need full rewires, all new windows/doors/got 1970s decor etc) Ours is stunning - plantation shutters throughout, fully replastered, new everything. I got sucked in by EA saying it would be good for them all to bid against each other (but now in reality he seems happy just accepted the two offers we have)

I am prepared to pull out and relist but just annoyed with myself.

We recently sold a beautiful house - EA did bugger all for what was 5k fee

I wish I had taken it off the market and changed EA - it’s easy money for them
It had been a long time since we sold before - and I stupidly believed EA might have improved
Relist - if it’s not a matter if needing to sell now
Best if luck

You could give a deadline - best and final
offer to both the applicants ( happens in Scotland, sealed bids)

How long has it been on the market for? Round here everything is being reduced so they may be reluctant to offer more.

Not even a week.

Offers over don't work (IMHO) as it just shows the lowest you will accept, although that's not even true in your case.

I think you need to go back to the buyers and apologise and say you are looking for X, I doubt they will want to raise £25k.

But get your listing correctly priced ASAP

I agree. I wish I'd stuck to my own feelings and priced it at £25k over what I could drop down to.

I guess i got embarrassed discussing price and just stupidly agreed to go ahead with their suggestion (thinking they knew the market)

I wouldn't mind I'm doing all the bloody work. All they're doing is listing it on Rightmove and sending me viewers. And charging 1% plus vat for the pleasure.

It's so bloody stressful selling!

It was a LONG time ago now, but DH got 2 very similar offers the same weekend.
He asked the estate agent to tell both that there were 2 similar offers, and could they pit forward their final offer. Might be worth trying on Monday?

But yes, the estate agent would rather sell straight away for 350k tha have it on the books a few months for 370k.
If their fee is 1%, the difference to them is £200.

You would kick yourself LOADS more if you pulled out of the market, lost these buyers, went back on and didn’t get offers (however unlikely you think this is).

I would: get the agent to go back to them and say that there has been multiple interested parties and you’d like to do best and final offers for end of day Thursday, and that they are continuing to show the property next week. This will create a sense of urgency and demand with the buyers.

Then get the estate agent to book in any more interested parties for early next week so you’ll hopefully have more than 2 offers on the table.

If they stick with their price, then you know that in fact you couldn’t have got your £375k - the market is really tricky right now and perhaps the £340k was at the top of it.

That's a good point.

It's more that I need the higher amount to secure the property we want - rather than Im just being greedy.

I'd have to hope I could get them to come down £10k on price after survey maybe? (it is a wreck, a lot is visible and you can base a price on that, but the survey may uncover things we didn't know about)

Thank you.

Yes you absolutely need them to ask for “best and final offers”! Good luck! You may well achieve what you’d like or even more

I think you need to be clear with the buyers what the minimum is that will you accept. If you don't its likely they will bid up a couple of k each not 25 like you are hoping for. The market is really different. If they don't bite relist with someone else at 375k also you can try negotiate on your ongoing purchase a lot of people are having to do this..