Re: Selling strategy using Foxtons?

In message <4953ueFmg17uU1@xxxxxxxxxxxxxx>, "tim (in sweden)" <tim_in_sweden2005@xxxxxxxxxxx> writes

"Richard Faulkner" <richard@xxxxxxxxxxxxxxxxxx> wrote in message
news:$jCvAnKXuTLEFwH9@xxxxxxxxxxxxxxxxxxxxx
In message <490ap4Fma9llU1@xxxxxxxxxxxxxx>, "tim (in sweden)"
<tim_in_sweden2005@xxxxxxxxxxx> writes
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.

How have they badly advised him?

By telling him he could get 210 when the best offer is 180.


It's only the 1st offer, they might increase it?

What if they had suggested £180,000... the 1st offer might have been £150,000 - it's what buyers do when they think it's a buyers market...

Yes I know they did this to get the business, but a savvy
seller should ask for a discount for an under-valuation sale
to discourage this practice.


When does a proposed asking price/valuation become "over value"?

What would you propose as a reasonable discount, and at what percentage below valuation would the discount become available?

In the good old days, if a house was on the market for £21,000, and we got an offer of £18,000, we would not necessarily have felt as though it had been overvalued. The scenario described here is the same in %age terms.


The other problem which arises is when the 1st offer is of the asking price, and everyone thinks it was "valued" cheap for a quick sale and a quick fee - what would you propose in these circumstances.

A savvy seller knows roughly what his/her house is worth, and wont be taken in by crooked estate agents who over value, or undervalue.

E.g. say you get 3 valuations of £185,000, £190,000 and £210,000 - If you put the house on with the agent who says £210,000, you know damn well that both you, and the agent, are taking a flyer.

Or...

if you put it on the market at £210,000, expecting to get £190,000, you're not doing too badly if the 1st offer is £180,000.

.........

--
Richard Faulkner
.

Relevant Pages

  • Re: AARP driving refresher
    ... my Agent is not a lying scum bag. ... liability portion of my insurance. ... >assures me that there is no discount for AARP driving course. ...
    (soc.senior.issues)
  • Re: ADC select
    ... To receive your discount, orders must be placed through a sales ... agent, not directly through an online store. ... un amico dottorando che si è ...
    (it.comp.macintosh)
  • Another Reservation Problem
    ... I want to say THANK YOU to those who posted about previous reservation problems. ... I called Disney on Monday to see if they had changed the rate in their system. ... They couldn't help me because it was an agent booking, but said that a new confirmation should have been mailed to me when the AAA rate was set up. ... So now AAA is working with their sales rep to "try and see if she can make the discount applicable". ...
    (rec.arts.disney.parks)
  • Re: dental insurance
    ... Dental discount card = no indemnification, no insurance. ... My house needs painting. ...
    (sci.med.dentistry)
  • Re: Council Tax discount.
    ... There's a Discount on the Council Tax available (which has to be ... That Discount is only applicable for 6 Months. ... So hypothetically speaking if I was to buy a house which say needed ... the *full* Council Tax being payable, on the Empty House & not even ...
    (uk.people.silversurfers)