Are Agents advising to accept low offers just to make some money

[RobAMerc]

hi all,

I rang round yesterday to see what I could hope to get for my house if I put it on the market.
I was advised anywhere from 370 to 420 ( I paid 525 in december 06 !), anyway as it happens my neighbour refused an offer of 385 - the agent told me he could probably get me the same for mine from the same buyer

I do know one across the road from mine went for 380 2 months ago ( quickly ) but it was in a rough state although it has a south facing rear garden.

My question is do people think he could be trying to get me to sell so he can get his cut and move on , it won't make a huge difference to him if I get 380 or 420 - I'm thinking 400 less is better than nothing for him?

 

[mercman]

No, this is the stae of the market at present. Have you not read about the amount of people that are losing their jobs and the lack of money out there for providing mortgages. This is a real depression not simply EAs trying to make a few quid.

 

[Senna]

385k is only 27% off peak price, if he could get you that quickly, i'd consider it. Look at what other similar houses in the wider area are priced at, if they are still on the market and haven't sold, then its priced too high. Take off 10+% and see what prices look like to you then.

 

[Bronte]

Of course it's in the estate agent's interest to make a sale and 20 or 30K will not make a real difference in this case to the estate agent. Ignore this.

You know two things, a similar house has sold for 380 and an offer was made for 385 giving you a real idea of current market value. Also there is right now, maybe not next week, a buyer who is willing to pay 385. If you want to sell I'd grab it and forget about what you paid for it.