Varying advice from Estate Agents

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Candy Crush

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Hi. Currently arranging to have a property sold. Consulted 2 Estate Agents, both of whom gave the same approximate value of the house. One suggested putting it on the market at that price, the other suggested an asking price of €50K lower, to 'generate interest, and hopefully start a bidding war'. I am unsure which Estate Agent to go with. Any advice? thanks
 
It depends on the type of property.

If you have a pretty normal semi-D in an urban area than a below-market asking will generate interest and stimulate a bidding war.

If your property is more unusual then you might be stuck with one bidder at the lower asking who would have happily paid a bit more.
 
Thanks Coyote. It is a bog-standard semi-d in quite a sought-after urban area. Your advice is appreciated.
 
Also consider seasonal factors. The busy time for selling is in the next few months. You will have most buyers active at this time of year as well if you are looking for interest.
 
I viewed one recently I felt was priced low, last I heard the offer was 120k over asking and I felt over-priced for the area. So, encouraging a bidding war can certainly work, but as above, depends on the level of demand versus supply in the area.

It may be a little late now having met some agents, but it can often help to visit viewings being run by the agents operating in your area. That will give you a very good sense of who is on top of their game.
 
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Our Estate Agents suggested putting our house on a bit lower than we hoped to achieve in order to drum up a bidding war. It worked.
You probably need to have a look yourselves online on daft and myhome and input the two prices suggested and see what comes up in your area.
We were lucky in that 2 downsizers both wanted our house and bid the property up reasonably quickly. Which agent has had more houses in your area recently and might have some under-bidders contact details?
 
You really need to provide the context - 50k lower on a house "worth" 900,000 is a bit different from 50k lower on a house "worth" 450,000.
Our house sold for €645k and estate agent put it on for €590k when we were looking for about €620. So the people who put in €600 as their max would see it and perhaps stretch themselves. Whereas if it had been put on at over €600 they might not have seen it.
 
Both EA's advise that the house is worth in the region of €700,000. One suggests putting it to the market @ €650,000, the other suggests €700,000. Four bed semi-D in leafy Dublin 3.
 
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