House price €275, offer €255

Neil - they are nice kind of guys aren't they !!!- and they don't even own the property. You know the likihood is that he hasn't put the offer to the vendors at all. If you were living in the near area, you might type up your offer and drop it into their post box, teling them you were unsure as to whether the agent had submitted your offer to them.
 
Its tactics...he is trying to bully you into a better offer. Estate Agents realise that this is all over the news now, its not just a little secret they know.
Best thing to do is walk away. Believe me someone will take your offer and especially after the way he spoke to you and what he said would you really want to go back and offer more.

Run for the hills, give that EA a couple of weeks and he will be chasing you up them!
 
comanche said:
Hope you rebutted back and said that's what the property is worth - its only worth what someone is willing to pay.

You offered the correct amount, if the seller is not insulted you have offered too much! :)
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He said there was no way in hell I would get a house on his books for €235k, my reply was....six months ago you would have said there is no way I would get a house for €275k, but Navan is full of them, brand new from €275-280.
I said €235k is what I thought the house was worth, and my offer stood.

Neil.
 
Neil_Ireland said:
Well I just got a reply from the EA, he said was I serious with my offer. He also said that I was belittling the market and the property I viewed and that I was taking the pi$$.
I said I was serious and my offer stood, he said there is no way he would deal with me and and not to be wasting his time on that property or any other properties he has on his books, he would welcome me viewing other properties but not to make ridiculous offers like that.
He said there was 10k off the original price and there was no way I would get a house for the price I offered.

Neil.
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Really impressed that you stuck with the 235k to start... I'm shocked by the agressive tactic of the Estate Agent. It's a big market out there and insulting potential clients (you may well want to sell a house in the future) is crazy. Anyway, 14.5% under the asking is not a crazy offer... The EA sounds like someone under pressure. I find it ironic you weren't told that someone had outbid you.... If 235k was too low, well then someone would have offered more, surely. He has already knocked off 10k without blinking, whxih was agreat sign... Don't be afraid to remind him that there are numerous properties (too many for you to view them all) that will suit your needs on the market and that you are no fool and can see none are getting offers and none are selling...... If he wants to sell to you he'd want to make you an offer you can't refuse....
There are areas holding their value in the current market - but they are rare.... the majority of areas are suffering, badly....
 
Ok Seriously, who actually lets an EA or anyone talk to them in that manner. I despair I really do.

I would be around at the Agents standing his table reading him the riot act for his ignorance.

I would also be going to the vendor and pointing out that their EA is adversely affecting the sale of their property through intimidation and foul language.

If the vendor stands up for the EA, screw it otherwise, tell the vendor your offer only stands if the EA is fired.

Next step letter and phone call to EAs boss if any.
 
Name and Shame him, I bet you wont be the only person who has this attitude from him.
 
wishbone said:
Not sure naming and shaming is allowed on Askaboutmoney anyway...but dying to hear how you get on Neil_Ireland... :)
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Not about to name ans shame but the ball is in their court, I'm in no hurry to buy. I'll give it a couple of weeks and see what happens ;)

Neil.
 
I know, just wishful thinking. Wish we had a ranking table or something for all people providing services in the Property market, similar to the rankings used on the investment forums.
 
Neil you handeled that suituation well there. dont let that guy intimidate you. plenty of good homes avalible in navan. go somewhere else you ill get your house for 235
 
Neil_Ireland said:
Not about to name ans shame but the ball is in their court, I'm in no hurry to buy. I'll give it a couple of weeks and see what happens ;)

Neil.
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If he comes back to you (and he probably will), revise down your offer explaining that your previous offer stood at the time but no longer.

Remember, when markets were rising, many EAs didn't think twice about using ghost bidders to drive buyers higher against themselves.

The boot is now on the other foot.
 
I think EAs to some extent are using the thats too low - you'll never get a property for that price, but they can use your bid to get other people interested. In the meantime if they don't get an increased offer they will usually come back at some stage. If they do you should use that to your advantage and renegotiate down again.
 
slinky said:
Debtwish, very good advice. EA need to feel the pain.
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Slinky - you have strong feelings against EAs. Its not that they necessarily should "feel pain", but the power has switched from the seller to the buyer and the buyer should embrace this - but not in a vendictive way!
 
Debtwish said:
If he comes back to you (and he probably will), revise down your offer explaining that your previous offer stood at the time but no longer.

Remember, when markets were rising, many EAs didn't think twice about using ghost bidders to drive buyers higher against themselves.

The boot is now on the other foot.
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Gazundering!

excellent idea sir
 
slinky said:
Ok Seriously, who actually lets an EA or anyone talk to them in that manner. I despair I really do.

I would be around at the Agents standing his table reading him the riot act for his ignorance.

I would also be going to the vendor and pointing out that their EA is adversely affecting the sale of their property through intimidation and foul language.

If the vendor stands up for the EA, screw it otherwise, tell the vendor your offer only stands if the EA is fired.

Next step letter and phone call to EAs boss if any.
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I can see that the world will truly be a better place when you're in charge.

mf
 
No - the world will be a better place when the young EAs learn some manners. It'snot their property they are selling and it's definetly not their money when a punter is buying. The old fashioned honest agents have been shamed by the ignorance of the newbies.
 
Peeete said:
I think EAs to some extent are using the thats too low - you'll never get a property for that price, but they can use your bid to get other people interested. In the meantime if they don't get an increased offer they will usually come back at some stage. If they do you should use that to your advantage and renegotiate down again.
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I was thinking that alright.....if they get back to me!

Neil.
 
Neil_Ireland said:
I was thinking that alright.....if they get back to me!

Neil.
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Its a difficult knowing whats right to do (you tend to get attached after putting in a bid). In this market though its probably worth sitting tight for a while at least.
 
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