Are certain agents known for deliberately overpricing houses

katiek102010

2 houses jup for sale in our village about half a mile apart with different agents. Both houses are detached, very similar in layout etc.

1st house 4 bed on 1 1/2 acres 180k
2nd house 4 bed on 3/4 acre 350k

House 2 has been on market 3+ years.

It's beyond my comprehension.

On looking on agents 2 page. Currently have a house on the market fore over 400k when a similar house sold about 3km away for 200

Dav010

katiek102010 wrote: »

2 houses jup for sale in our village about half a mile apart with different agents. Both houses are detached, very similar in layout etc.

1st house 4 bed on 1 1/2 acres 180k
2nd house 4 bed on 3/4 acre 350k

House 2 has been on market 3+ years.

It's beyond my comprehension.

On looking on agents 2 page. Currently have a house on the market fore over 400k when a similar house sold about 3km away for 200

Or sellers who will not accept that their house is not worth what they think it is.

You could call the EA and offer 200, you will prob be told the seller will not consider your offer.

ChewBerecca

We went sale agreed with the current agent at 40k below what another agent wanted last year for the exact same house. Even at that it was a compromise on our side from our original offer in order to move to sale agreed as we really liked the house.

Slightly bigger house (square footage is bigger, more bedrooms, but the bedrooms and bathrooms are tiny) in the same estate has an offer 20k below what we are paying for our house and it's a different agent again, but would need that 20k to bring it up to modern standard and get rid of the smoke filled carpets.

The agents are going to go with the higher price to attract the vendor and get their commission, but even they have to have common sense at times to shift the property.

tigger123

Yes, certain agents will overprice in order to get the vendors business. Leave it up on the market for a certain period of time then reduce it in order to shift it.

Dav010

ChewBerecca wrote: »

We went sale agreed with the current agent at 40k below what another agent wanted last year for the exact same house. Even at that it was a compromise on our side from our original offer in order to move to sale agreed as we really liked the house.

Slightly bigger house (square footage is bigger, more bedrooms, but the bedrooms and bathrooms are tiny) in the same estate has an offer 20k below what we are paying for our house and it's a different agent again, but would need that 20k to bring it up to modern standard and get rid of the smoke filled carpets.

The agents are going to go with the higher price to attract the vendor and get their commission, but even they have to have common sense at times to shift the property.

When you say what another agent wanted, did the house belong to the agent? Was he selling his own house?

riclad

You can look on the property price register and see what the other house,s in the area , sell for in 2018, 2019.
If a house is on the market for 3 years ,its over priced ,
or there,s some other external factor putting off buyers.
Maybe its close to a pub or a busy nightclub.
Or a football ground .
The main rule in the housing market is a house is worth what people will
pay for it.
The agent is supposed to suggest a price to the seller.
The seller should have some say in the suggested sale price.

ChewBerecca

Dav010 wrote: »

When you say what another agent wanted, did the house belong to the agent? Was he selling his own house?

Different person, that agent from last year is known to inflate their prices in the area based on their current ads on daft.

LenWoods

Dont hate the player lol

katiek102010

They are both rual on the same road. I think it's crazy

Murt10

I always avoided Sherry FitzGerald.

IMO they always seemed to price their property right at the very top, if not way over the top of the market. The language in their ads is gushing and syrupy sweet. Made me want to retch.

I'd prefer to deal with an estate agent who doesn't go way over the top,

ashes2014

katiek102010 wrote: »

2 houses jup for sale in our village about half a mile apart with different agents. Both houses are detached, very similar in layout etc.

1st house 4 bed on 1 1/2 acres 180k
2nd house 4 bed on 3/4 acre 350k

House 2 has been on market 3+ years.

It's beyond my comprehension.

On looking on agents 2 page. Currently have a house on the market fore over 400k when a similar house sold about 3km away for 200

The mind boggles sometimes when you look at asking prices for houses. I cannot fathom it myself...I see some houses sitting there for years. Personally I would hate that, it would be like being stuck in limbo and I would reduce the asking price just to get things moving.

There are various reasons that people want their houses/property under or over valued also for reasons other than selling. They may not be planning to sell but rather be trying to strengthen a case for the valuation by having it up for sale for a while.

katiek102010

Murt10 wrote: »

I always avoided Sherry FitzGerald.

IMO they always seemed to price their property right at the very top, if not way over the top of the market. The language in their ads is gushing and syrupy sweet. Made me want to retch.

I'd prefer to deal with an estate agent who doesn't go way over the top,

It is them