So basically, my estate agent is going to advise me to sell a any price so he can get the sale, right?

[beansprout]

Which is why he has suggested we drop from 300 to 260k?

I know the 250 threshold is drawing us in too, so no-one is going to offer a penny over that and what with "cheeky offers" being advised, it's all becoming a big waste of time. Gah.

again... its completely dependent on area and what you are letting out. at one point we thought our sale was falling through so we started exploring lettings with a different EA and had viewings booked in as soon as we put it on the market (we then exhanged a day later so cancelled all the bookings - did i feel guilty about wating EA time.... nope). All the people who were looking were those that had sold and were waiting to see what the market was doing before buying.

The truth is, this is the best time to find EAs who are genuinely the best. As you've pointed out, they need the business. It's not in their interests to screw you over - especially if they think there's the possibility of more work out of you in the near future.

Womble - you didn't waste the EAs time, so it's good you didn't feel guilty. Their job is to do what they can and the risk they take on, which is what they're paid for, is that you might sell a different way or take off the market or whatever.

By wombleprincess on Wed 10-Sep-08 09:53:32
regardless of what the market is doing at the moment, lets get this straight... estate agents are only in it for themselves...

ermmm and why do you or anyone else go to work?? for yourselves too, its irrelevant what job you do, your in it for YOURSELF not anyone else

LittleMinx - I believe estate agency is a service industry and you work for the client, therefore estate agents are not meant to put their own interests first.

They not you (unless you are an estate agent of course).

Wombleprincess you are so right ( I used to be an EA).

RE OP - if you get a sub 250 offer, then it will be more more expensive to offer to pay stamp and legal fees on offers under 245K. The other way is keep your asking price at 300K and offer to pay 10% deposit ( effective Price reduction of 30K). This will open your market to people who earn well but havent saved a deposit. If you are looking to rent a part ex may be the way forward. You can rent out the smaller property and rent one to live in. If you go with this option then make sure you part ex for a property in a rentable area.

Also try to re negotiate your EA fees to a percentage ( 1-1.5% of SELLING not ASKING price). If they won't play then change your EA or "double board" with an agent that will. In a falling market double boarding will make sure that yours is the one that they promote first. There aren't enough buyers about to risk losing a sale because they don't like you. And while I am on that subject - ring them every week and ask what they are doing to sell Your house.

I am so glad to be out of that game

after 6 properties my own research would seem to suggest that generally, EAs are a bunch of second rate, lying, dishonest scounderels who would probably throw their own mothers in to a sale if they thought it would secure it - thats from a buying and selling point of view. at the end of the day they care about one thing. commission. and for them, 20 or 30 k of a price means a lot less than it does for the buyer.

but thats just MY opinion... bring on the flames...

nb with last sale i got .0.8%. try it!

little minx of course we all work for ourselves! was making the point that therefore no one can expect an EA to work for them...

we've taken £150k off the price of our house (on market since March) and it hasn't sold. we're taking it off the market now. sob.