Re: Selling strategy using Foxtons?


"Seuss" <seuss@xxxxxxxxxx> wrote in message
news:seuss-D55F3B.18241229032006@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
My London flat has been on the market for 2 months with Foxtons. They've
just brought me their first offer at 180k, which is 85% of the asking
price that they'd originally advised (210k). Early on, I decided they'd
overvalued it and dropped the asking price early to 200k, expecting to
get about 190k . However, I don't have a good feel for the market and
they tell me that the offer they've brought me is a good one. A couple
of weeks ago I might have taken them at their word but for obvious
reasons I'm now suspicious!

You are not negotiating with Foxtons. You are negotiating
with the buyer.

How did you reach the decision to go with Foxtons at 210K.

What did other EAs value the property at. You did get other
valuations!

Any advice on how to handle them? Should I ask for 190k and hope to meet
somewhere in the middle?? I'd quite like to sell fast, but I don't
really need to; on the other hand I don't want to play hardball if it
doesn't get me anywhere.

Is there any point in telling them I think it's a poor offer and I'd
expected them to perform better so they should reduce their commission
if they expect me to take this offer?

Yes, this is exactly what you should do. They badly advised you,
you should expect them to help you, not the buyer.

In other words give them more
incentive to increase the price: £10k to me only means £250 to them at
the moment.

2 and a haf percent! Wow.

Whereabout in London can you buy for 190 btw.

tim


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