Property Advice!! How to deal with Estate Agents??

[eek]

Thanks very for the responses..Just to add bit more details..

1. Last time this property was in the market for nearly 7 months and marked as 'sold stc' twice towards end of year as sales didn't go through, when asked EA they are clear it wasn't due to any survey issues.
2. Property is marketed by 2 agencies, I was dealing with one of them from begining they are aware of my interest & position, haven't talked to other one
3. Its not in London but South East

Strategy-1 > Put an reasonable offer now (early) and see the response
Strategy-2 > Wait for 2-3 weeks and if its still in market put the offer, so by that time EA/Seller knows demand is less
Strategy-3 > Contact EA-2 with partner and start discussion from scratch
Strategy-4 > ???

Which could work..? BTW I am doing all kinds of reserach around propery in Rightmove/Zoopla etc..

Strategy 1 - put a low offer that 7% below previous asking price in now making it's clear it's your only and final offer and remind them that 2 people have supposedly walked away. And state that while you may keep the offer on the table you will withdraw it as soon as you find something else suitable. You want all the pressure on them and you don't want to offer a negotiation.

Also check what Zoopla and houseprices.io think the property is worth that will show you how much of a markup the new price is.

[fullyautomatix]

What an idiot. You can spot one from a mile away these days.

Your first offer should be 30% less than asking. They will laugh you off. Then wait. The house wont shift and they will get fed up waiting for mugs like you to come along. Eventually they will fold and accept your offer.

[Darren_Test]

BTW the two other offers that didn't materialise came via other agent whom I am not dealing . Nearly an year work of this agency didn't produce any offer so far.

[KinooOrKinog]

Thanks very for the responses..Just to add bit more details..

1. Last time this property was in the market for nearly 7 months and marked as 'sold stc' twice towards end of year as sales didn't go through, when asked EA they are clear it wasn't due to any survey issues.
2. Property is marketed by 2 agencies, I was dealing with one of them from begining they are aware of my interest & position, haven't talked to other one
3. Its not in London but South East

Strategy-1 > Put an reasonable offer now (early) and see the response
Strategy-2 > Wait for 2-3 weeks and if its still in market put the offer, so by that time EA/Seller knows demand is less
Strategy-3 > Contact EA-2 with partner and start discussion from scratch
Strategy-4 > ???

Which could work..? BTW I am doing all kinds of reserach around propery in Rightmove/Zoopla etc..

If it was on the market for seven months, providing there's nothing adverse in the survey & other properties in the area are selling then it's the price. It's too expensive for the market. Offer what you want to pay. Don't give in just because the vendor is greedy.

[PCTNN]

You have a winning hand. They're struggling to sell the house.

Make an offer x% lower than the asking price and make sure they know the offer will decrease as time goes on.

If they haven't been able to sell in months, it means it's a buyer's market so you should take advantage of it.

Look for other viable houses in the meantime.

[LondonManc]

Guys,

Unusally I am here on a questions related to Office car Parking, but after getting feedback here all my car parking issues are sorted.!!!!

I am in the process to change my house, price agreed for my house last year & now waiting for a property I could buy. But one I liked was taken off market end of last year at that time they were not ready to take offer from me as mine was not sold at that time and back in market now. While it was off the market I talked to EA and made him aware that I sold mine and looking for something like that one. EA & owner fully aware they have a interested buyer readily available. Now they decided to raise asking price by 5%.!!

How should I approach this? Don't want to pay too much but keen on that property..Any specific strategy I can apply..?? Thanks.

Politely explain that you were interested in the property at the price at which it was originally advertised for sale.

[Darren_Test]

Thanks very much..

Yes, definitely I am keeping my options open & looking for other suitable properties. Since mine was sold in december I agreed for a lower price and now the EA/vendor of the other house thinks 'market is up', so its a double whammy for me.

So probably at the moment I will stick to Strategy-2. If I go for stratey-1 it could straight away dismissed as early offer could make them to think better offers could come sooner. I know I could end up loosing it but if someone else is desparate let them have it as otherwise end up in a bidding war!!!

Strategy-1 > Put an reasonable offer now (early) and see the response
Strategy-2 > Wait for 2-3 weeks and if its still in market put the offer, so by that time EA/Seller knows demand is less
Strategy-3 > Contact EA-2 with partner and start discussion from scratch
Strategy-4 > ???

[Darren_Test]

Thanks for the response

[BABABlackSheep]

Get someone you know(not traceable via social media) to view the property. Laugh at the asking price and offer 20% below. Get the owners worried they are losing a great offer ?

[Whorty]

Offer what you want to pay and be prepared to walk away. If you really want the house, you have to decide what it's worth to you to have it.

This.

The owner/EA can ask whatever they want, but the house is only worth what someone is willing to pay. They didn't get any offers pre-Christmas at the old lower price, so clearly up until then no one else thought it was even worth that let alone the new higher price.

As with any negotiation, do you want their house more than they need to sell it .... who will blink first? Who holds all the cards?