[sellickbhoy]

Estate agents - waste of time - really are!!!

you should have a quick read of Freakonomics - although a US based bit of research, it turns out that because of the commission they receive an estate agent is likely to accept a lower offer for your house than you would because the difference in the sale price to their commission is minimal - and any sale is better than none

i.e. they get 1.5% of the sale fee for the "work" they do

if your house is worth £100k, they stand to get £1500 if it sells for that amount

however, it might take them 60 days to sell it at that price.

however, they might get an offer of £90k in 30 days - giving them a £1350 commission - losing only £150 - but losing you £10,000!!!

they just want to turn numbers

The "sales" patter goes like this - when they come to value your house, oh, yeah, great house, easily get £115k for it in todays market. Then you sign up and after 3 weeks - no interest. then they tell you that YOU are asking too much for the house and suggest dropping the price to £100k.

The lassie that owns the house upstairs from me is thining about selling and we have been having conversations about us buying it from her. Now, it's a 2 bedroom flat whose only access is via a door opening onto a 60mph road - all be it a b road, the cars fly by!!

she wants to sell it with NO LAND AT ALL so she can keep it for her horses/stables and leave her caravan on site.

The estate agent told her she could get £190k for it!!!!! ha ha ha ha ha ha ha

Our house is twice the size of hers (we have 3 extensions out the back and sides) and comes with half an acre of land and a stable block - and it cost £250k (just before the house prices crashed)

I was prepared to give her £100k for it. But £190k - ha ha ha ha ha ha ha ha ha

I told her she should bite their hands off and sell it for that amount.

but a house - any house - is only worth what someone will pay for it. the best way to test the market is to put it up for sale and see if anyone bites at your price.

Also, on the subject of estate agents/solicitors - if you want to get a home report done - you don't have to get them to do it, just go direct, you'll get the same service for half the price - just for the cost of a phone call. Try listing the house yourself on Gumtree and S1Homes - sell it privately. The solicitor will still do the conveyancing - and probably cheaper too if you hunt around

anyway, rant over!!!

[kevkev57]

Hello Rosemary

The agent was probably trying to bring down your expectations of the value. Once he has done this, its then easier to get it sold. Imagine for example a house with a real ' can be sold very quickly ' value of £200,000.  The agent knows he can sell quickly at this figure. However when he values it for you, your figure is £250,000. He then will trot out all the bad points , true or otherwise to get you adjusted.

In my mind ANY property with an estabnlished small holding has a fair to good value these days. I would drop agents, and go on line, find all forums related to small holdings and gardeners.

Kevin
PS Its good to be back.

[sandy]

We moved twice..both houses had something wrong and both sold very easily, both for the price we wanted!!!!! One house the estate agent gave a very low valuation and we said we wanted much more and he said no way will you get that, course we did!!!!!! As you know, it's all about supply and demand, both our previous houses were in good locations and suited a certain lifestyle...well your certainly dose...It would suite a lot of us on this forum for a start!!!!!! The location is a bonus as you are private and secluded yet in the middle of a small town that is undergoing re generation!!!!!!! I bet you will be inundated with offers!!!! I wounder where you are going??? And, it would suite Anne, ideal for you....just need a bit of extra cash