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Ridiculous offer on house

Ridiculous offer on house

Old Mar 12th 2009, 6:29 pm
  #106  
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Default Re: Ridiculous offer on house

Originally Posted by wbexpat View Post
um. yeah.

if an estate agent is going to make 2% off you, he will make 4000 off a 200K house or 3000 off a 150K house.

so he can make 4000 by working hard, negotiating with lots of buyers, showing them round, cajoling, harassing and driving himself mad OR he can make 3000 by sitting on his arris and punting out your pad for a tempting 25% off.

4000 for a weeks work or 3000 for a days work?
Erm I'm not sure that it quite works like that.

I can only speak for our estate agents and I have to say they have worked bl**dy hard for their 1.75%!

When we first got estate agents round they were the only ones in my opinion that told it as it was - they said if you start real and keep your expectations real in what is a buyers market you will sell. Whatever figure you think you will get, you will get less and if that falls below what your mortgage is then don't bother selling right now, you may as well keep hold of the property.

They said from the very beginning it was a numbers game - getting as many people through the front door in the first place but that the only thing that would sell the house was the price, the only houses that are selling AROUND HERE are those that are realistically priced, the market is flooded with properties for sale and if you want to sell it doesn't matter how nice your house is right now, generally it is the lowest priced houses that are selling first. Obviously there are exceptions to this rule.

They made a deal with us, if were serious about selling then we had to be realistic in our expectations on price and if we were serious about that then they would get people through our door - which they did, and its a numbers game - the more they get through the more chance we had of getting an offer.

Furthermore our estate agents also sold a buyers house for them without fee in order to secure the purchase on our house. As it turns out their buyer dropped out so it all fell flat but they are pulling out all the stops in order to sell houses right now, even with a very realistic/low price!
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Old Mar 12th 2009, 6:44 pm
  #107  
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Default Re: Ridiculous offer on house

Originally Posted by R I C H View Post
It's meant a lot of sacrifices, no holidays since we arrived and working 7 days a week, but hopefully we'll see the benefit from the effort sometime soon.
Great admiration for your efforts. Blccdy well done.
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Old Mar 12th 2009, 7:11 pm
  #108  
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Default Re: Ridiculous offer on house

Originally Posted by onlycanada View Post
Is that really your house ...or a wind up? Or is that how you got your name!!!
I (and the lovely Miss Moochops) can confirm that Mr R I C H does indeed live in that humble abode. Its F**King fab (as is the rest of his current set-up).

Jealous? I would be if it wasnt in Kamloops
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Old Mar 12th 2009, 7:20 pm
  #109  
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Default Re: Ridiculous offer on house

Originally Posted by Butch Cassidy View Post
I (and the lovely Miss Moochops) can confirm that Mr R I C H does indeed live in that humble abode. Its F**King fab (as is the rest of his current set-up).

Jealous? I would be if it wasnt in Kamloops






You're welcome any time Easterner.
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Old Mar 12th 2009, 7:23 pm
  #110  
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Default Re: Ridiculous offer on house

Originally Posted by R I C H View Post






You're welcome any time Easterner.
Next time I can wangle some gas money and 24 hours of no sleep I may just pop over for coffee
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Old Mar 12th 2009, 7:24 pm
  #111  
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Default Re: Ridiculous offer on house

Originally Posted by R I C H View Post
I don't think 'nicer' necessarily means an easier sell. If you're suggesting there's a correlation between nicer and pricier, there's a price point at which there's a more limited market, so finding a buyer is harder. I shudder to think what my realtor's overhead has been for the 12mths he's been representing my property. The longer the sales process takes, the more deserving he'll be of a gradually diminishing return.
I agree with what you said but I used the example of 'average' because I would have thought given natural selection and all that the 'average priced' houses are more common + it's not out of the price range for the 'average' buyer...

The cheaper the house the less common the house is plus the fact it's also less common to get people buying into a poorer area/house.

On the flip side the more expensive the house the rarer it will be to find someone who can afford the more expensive area/house.

This obviously changes per market and whether it's a buyer/sellers market but in terms of our natural selection graph (applies to virtually anything) it should be easier to get rid of the most average property...
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Old Mar 13th 2009, 5:36 am
  #112  
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Default Re: Ridiculous offer on house

Originally Posted by wbexpat View Post
um. yeah.

if an estate agent is going to make 2% off you, he will make 4000 off a 200K house or 3000 off a 150K house.

so he can make 4000 by working hard, negotiating with lots of buyers, showing them round, cajoling, harassing and driving himself mad OR he can make 3000 by sitting on his arris and punting out your pad for a tempting 25% off.

4000 for a weeks work or 3000 for a days work?
I don't think you understood the point of what I posted.

I'd already dropped the asking price quite a lot after starting too high (bad advice from said estate agents and others). Then we had buyers who agreed a price, lower than the (current) asking price and THEN kept coming up with reasons to reduce it still further, until I lost my patience with them and with the agent.

It was only when I pulled out of THAT sale, and threatened to sack the guy, that the stoopid agent came up with this other couple who were desperate to buy our house, were prepared to offer what we were asking (if I threw in my very old car), and were wishing to move in straight away, having sold their house.

These new people had been making enquiries about the house for some time, it transpired ..... just to clarify. And this was in the UK, if that makes it any clearer. I never felt that the agent had our best interests at heart, but if he had just been a bit more in-the-loop he'd have realised that here was a sale waiting to happen, with no chain, and at a higher price than he was currently negotiating. Dim-witted and lazy, both.
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Old Mar 13th 2009, 1:01 pm
  #113  
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Default Re: Ridiculous offer on house

there are predictions of UK house values falling another 50% in the coming year

www.telegraph.com
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Old Mar 15th 2009, 10:00 am
  #114  
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Default Re: Ridiculous offer on house

Originally Posted by Tangram View Post
Some people made no profit and in fact a loss, just to make the move.

That would be us assuming this sale does go through (and we are praying it does!)
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Old Mar 15th 2009, 6:36 pm
  #115  
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Default Re: Ridiculous offer on house

Originally Posted by R I C H View Post
I don't think 'nicer' necessarily means an easier sell. If you're suggesting there's a correlation between nicer and pricier, there's a price point at which there's a more limited market, so finding a buyer is harder. I shudder to think what my realtor's overhead has been for the 12mths he's been representing my property. The longer the sales process takes, the more deserving he'll be of a gradually diminishing return.
Your property is fab R I C H and I hope you find a buyer soon, I know you have been trying to sell for a while - are you planning on doing another reno job when you sell or are you going to retire? Just curious because you have worked so hard to get what you have got.
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