Do estate agents drip feed properties to the market to keep prices artificially high?

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rania

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Is this a possibility
Auctioneer only puts 1 property A at 550k but sells for 650k needing loads of work , when it's sale agreed he lists the next property which is the price A went for but needs no work.
I know it is probably a coincidence but is it possible auctioneers drip the properties out to keep the supply low? As literally only 2 properties in that range for sale at a time in whole area. And this price is high and post covid pricing, pre covid def not in the range.
 
rania said:
Is this a possibility
Auctioneer only puts 1 property A at 550k but sells for 650k needing loads of work , when it's sale agreed he lists the next property which is the price A went for but needs no work.
I know it is probably a coincidence but is it possible auctioneers drip the properties out to keep the supply low? As literally only 2 properties in that range for sale at a time in whole area. And this price is high and post covid pricing, pre covid def not in the range.
Click to expand...

It's possible all right but numbers would be quite low
 
Do auctioneers ever share infob with each other ? As 2 houses came on in exact same place at exacf same price on same day both needing no work just after the property needing loads sold in same area !!
 
....so property needing work sold for same price being asked for one not needing work. Why would doing that be in auctioneer's interest -unless to say its a bargain @650k??
 
More that is it possible properties are spaced out by auctioneers to make an area pricier
 
Auctioneers do what they are told by their clients. If you are selling a house and you find after a month the estate agent or auctioneer hasn't even listed it, would you be happy?
 
That would depend on if I really wanted to sell it and wasn't just going through the motions for some other reason
 
jpd said:
That would depend on if I really wanted to sell it and wasn't just going through the motions for some other reason
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Putting your house on the market costs you money for photos & advertising. There might be a few who want to appear to be selling a house for various reasons, but hardly too many people happy to drop a few hundred for the craic.
 
Estate agent gets 1% of sale price on average.

It's a lot of effort for a couple of hundred euro.

If someone has an inkling to sell and sees another property on the market, it is better to hold off until that sells.

But if that property sells at a good price and there were several interested parties, then just after that sale is the perfect time for you to go to market as potential buyers are already there.
 
Agents regularly deal with potential sellers who think their house is worth more than it really is.

If the estate agent is straight with the seller they often won't put it on the market at all.

The seller will only learn the real value when it goes on the market overpriced.
 
Freakonomics had data that EAs took longer to sell their own houses than clients' houses. They make money on quick sales, faster the better - the marginal gains of hanging on for a bigger price for one house for the small % of commission is not worth the opportunity cost of flogging another.
 
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