Estate agent tactics

Askthe EA

1641 wrote: »

theboringfox wrote: »

If acting professionally the EA is always acting for the vendor and seeking the highest price and/or the cleanest sale (not always the same thing).

THIS!

dinneenp

Paddytheman wrote: »

Sorry so Estate Agent said it went for €350 or €380?

Sorry, €380k. My mistake.

starmc14

OP here... finally sale agreed after months of looking and having my heart broken a few times. So fingers crossed it all works out!!!

srt8

I've always believed that the whole auction business is a rip off. I've seen places going far over the top for what they are really worth. It seems, unless you're a builder, estate agent, developer, etc... are the ones manipulating this area for their own benefit and leaving the 'one offers' who just want to buy their home through auction left stranded. You're better off, unless you know all the loopholes, dealing with owners who are selling or an honest estate agent. Just my view.

angiogoir

Best piece of advice is don't believe anything they say. Stick to your guns especially if you are genuinely at your limit. They will come back to you.

srt8

I've always believed that the whole auction business is a rip off. I've seen places going far over the top for what they are really worth. It seems, unless you're a builder, estate agent, developer etc... are the ones manipulating this area for their own benefit and leaving the 'one offers' who just want to buy their home through auction left stranded. You're better off, unless you know all the loopholes, dealing with owners who are selling or an honest estate agent. Just my view.

seachto7

Estate agents, car salesmen, recruitment agents etc.....

davo10

srt8 wrote: »

I've always believed that the whole auction business is a rip off. I've seen places going far over the top for what they are really worth. It seems, unless you're a builder, estate agent, developer etc... are the ones manipulating this area for their own benefit and leaving the 'one offers' who just want to buy their home through auction left stranded. You're better off, unless you know all the loopholes, dealing with owners who are selling or an honest estate agent. Just my view.

I really don't understand this point of view. The price a property sells for is the maximum a buyer is willing to pay for it. Therefore by definition, the price or "value" is set primarily by what the person is buying it is willing to pay. It is simple economics and market forces. It is not for you to decide what a property is "really worth" as it may be "worth" more to the buyer than it does to you.

House sales are always for the benefit of the seller, there is no secret not underhandedness in this. When you sell your house, you are the beneficiary.

srt8

srt8 said:
I've always believed that the whole auction business is a rip off. I've seen places going far over the top for what they are really worth. It seems, unless you're a builder, estate agent, developer etc... are the ones manipulating this area for their own benefit and leaving the 'one offers' who just want to buy their home through auction left stranded. You're better off, unless you know all the loopholes, dealing with owners who are selling or an honest estate agent. Just my view.


I really don't understand this point of view. The price a property sells for is the maximum a buyer is willing to pay for it. Therefore by definition, the price or "value" is set primarily by what the person is buying it is willing to pay. It is simple economics and market forces. It is not for you to decide what a property is "really worth" as it may be "worth" more to the buyer than it does to you.

House sales are always for the benefit of the seller, there is no secret not underhandedness in this. When you sell your house, you are the beneficiary.


Understandably, but my experience, and i've seen it time after time, someone who wants a property desperately will go way over the true value and sensible bids of others' just to get it and as far as i'm concerned that's greed where the pride and ego of losing takes over and there are a lot of these people around who get a buz from this, they are professional gazzumpers as that's all they do.

davo10

But that is a buyer's prerogative, no one forces a buyer to bid. You are assuming that the price you believe a property is worth is it's true value, sorry but that is misguided. The value of Amy commodity is the maximum amount someone is willing to pay for it.

srt8

davi10
Exactly, as I said above those gazzumpers are professional at it, they have more money to throw away than the average Joe. So it's those people who make the market untouchable for those trying to get a foot on the ladder. The Gov need to bring in laws to prevent people with endless cash from falsely inflating the market thus preventing the average sallaried man/woman from affording a decent acceptably priced home. In the US this happens but usually at the higher end of the market. But for around $200k in the US you can get double garage, five beds, two baths, half an acre, detached, etc... ready to move in.

Graham

srt8 wrote: »

davi10
Exactly, as I said above those gazzumpers are professional at it, they have more money to throw away than the average Joe. So it's those people who make the market untouchable for those trying to get a foot on the ladder. The Gov need to bring in laws to prevent people with endless cash from falsely inflating the market thus preventing the average sallaried man/woman from affording a decent acceptably priced home. In the US this happens but usually at the higher end of the market. But for around $200k in the US you can get double garage, five beds, two baths, half an acre, detached, etc... ready to move in.

You're suggesting there's hordes of professional gazumpers roaming the country overpaying for property?

davo10

srt8 wrote: »

davi10
Exactly, as I said above those gazzumpers are professional at it, they have more money to throw away than the average Joe. So it's those people who make the market untouchable for those trying to get a foot on the ladder. The Gov need to bring in laws to prevent people with endless cash from falsely inflating the market thus preventing the average sallaried man/woman from affording a decent acceptably priced home. In the US this happens but usually at the higher end of the market. But for around $200k in the US you can get double garage, five beds, two baths, half an acre, detached, etc... ready to move in.

Seriously? You want to cap prices? Then how would vendors choose who to sell to? Pick a name out of a hat?

You cannot compare value in different markets, $200k might buy you a ranch in Montana, but would buy you a parking space in New York. You can buy a 4bed house in Leitrim for €100k but an apartment in Dublin costs €400k, that is market economics.

srt8

Yes, that's my opinion of course. But you only need to observe mist auctions now have a live feed and the amount of programmes on TV should give you an idea how it's all working.

davo10

srt8 wrote: »

Yes, that's my opinion of course. But you only need to observe mist auctions now have a live feed and the amount of programmes on TV should give you an idea how it's all working.

It works the way every market works, the person who is willing to pay the most gets the goods. How could s market work any other way?

Graham

srt8 wrote: »

Yes, that's my opinion of course. But you only need to observe mist auctions now have a live feed and the amount of programmes on TV should give you an idea how it's all working.

I'm not entirely sure an auction with a fixed price would be much of an auction.

mloc123

srt8 wrote: »

davi10
Exactly, as I said above those gazzumpers are professional at it, they have more money to throw away than the average Joe. So it's those people who make the market untouchable for those trying to get a foot on the ladder. The Gov need to bring in laws to prevent people with endless cash from falsely inflating the market thus preventing the average sallaried man/woman from affording a decent acceptably priced home. In the US this happens but usually at the higher end of the market. But for around $200k in the US you can get double garage, five beds, two baths, half an acre, detached, etc... ready to move in.

You can get the same in Ireland for that price... It'll be in Leitrim but you can get it. You won't buy that house anywhere near a desirable city in the US for that money.

This idea that the 'average Joe' should be able to buy a house for 3 times the average salary in Dublin is ridiculous. Show me a capital city anywhere else in the developed world where you can buy a house for 3 times the average salary.

Askthe EA

angiogoir wrote: »

Best piece of advice is don't believe anything they say. Stick to your guns especially if you are genuinely at your limit. They will come back to you.

ALSO THIS!!!

Askthe EA

srt8 wrote: »

davi10
Exactly, as I said above those gazzumpers are professional at it,

Im not sure you understand what gazumping is.

dinneenp

We bid on a house, bid was too low (under asking price).
We bid again, still under asking price.

The estate agent is calling to our house tonight to talk to us about it! Haven't head that before. I'm sure she's going to try to encourage us to bid higher again. She's already told us what price they'd accept for the house.

Cheers.

qrx

dinneenp wrote: »

We bid on a house, bid was too low (under asking price).
We bid again, still under asking price.

The estate agent is calling to our house tonight to talk to us about it! Haven't head that before. I'm sure she's going to try to encourage us to bid higher again. She's already told us what price they'd accept for the house.

Cheers.

Bad idea. Never let a sales person into your home. She's going to try and gauge how wealthy you are.

Askthe EA

qrx wrote: »

Bad idea. Never let a sales person into your home. She's going to try and gauge how wealthy you are.

??

More likely she wants to discuss matters off the record.

mloc123

qrx wrote: »

Bad idea. Never let a sales person into your home. She's going to try and gauge how wealthy you are.

Some of the posts in this thread are too funny to be true.

dinneenp

qrx wrote: »

Bad idea. Never let a sales person into your home. She's going to try and gauge how wealthy you are.

She's already been into our house to value it previously.

TJJP

Askthe EA wrote: »

??

More likely she wants to discuss matters off the record.

How very ethical.

srt8

I'm not saying cap prices, but control those greedy developers/builders from paying way over the odds for a auction property. I've seen it so many times with heads shaking at those builders/developers who just grab anything with an over odds offer rather than lose the deal and of course, the owner is not going to turn down an inflated offer over a sensible offer.

Seth Brundle

Askthe EA wrote: »

??

More likely she wants to discuss matters off the record.

And yet the public are expected to think they're not snake oil salesmen?

mloc123

srt8 wrote: »

I'm not saying cap prices, but control those greedy developers/builders from paying way over the odds for a auction property. I've seen it so many times with heads shaking at those builders/developers who just grab anything with an over odds offer rather than lose the deal and of course, the owner is not going to turn down an inflated offer over a sensible offer.

So a builder/developer will pay over the odds and lose money just to get it...? Or they are more potential in it than the average buyer does?

srt8

yes, i've seen that.

Graham

srt8 wrote: »

I'm not saying cap prices, but control those greedy developers/builders from paying way over the odds for a auction property. I've seen it so many times with heads shaking at those builders/developers who just grab anything with an over odds offer rather than lose the deal and of course, the owner is not going to turn down an inflated offer over a sensible offer.

again

I hate to state what most might think is obvious but it's in a builders/developers interest to acquire property as cheaply as possible. Quite the opposite of over-inflating offers.