Genuine interest or new way to kick start the morket?

Hi Guys,

Thought I’d run this by the experts.

Got a hand written note through the door yesterday from an EA saying that they have a number of interested buyers for houses in my estate (mines a 3 bed semi). I’ve seen this over the years and didn’t pay any heed.

However, the thoughts of trading up/across are now worth considering (growing family).

It makes selling more attractive because it sounds like there is demand for realistically priced houses so we wouldn’t have to expose the inside of our house on the internet for a year or two.

There is no shortage of houses for sale on MyHome.ie so why this tactic?

I willl speak with the EA but is this a well rehearsed sales ploy? Are they trying to suck us in to the pyramid scheme? Should we wait a year?

Sorry for all the questions but it’s a big decision and I’d imagine there are plenty of people in this situation.

Its a well rehearsed sales ploy.
Basicially the EA has a buyer enquiry log.
This usually contains the names and numbers of everyone who has enquired about a similar property on their books.
So yes, ''they have a number of interested buyers ‘’, but it doesnt mean that you are going to get any more than the market rate.

Dont forget - the job of an EA is *to get *property to sell.

Incidentially, was it really handwritten, or just a damn good photocopy ?

Thanks for the reply Mr Anderson,

It was a good photo-copy of a hand written note :smiley:

We wouldn’t be expecting more than the market rate (whatever that may be). The thought crossed my mind though that there may be some truth in the note and that selling might not need to be a long, drawn-out, stressful experience at the end of which you feel violated every which way.

It’s funny the way a note like this can get you thinking of making a move. You start doing the sums and looking at MyHome and Daft. Once you start thinking about it you end up disappointed if you choose not to pursue it!!!

Ah well, maybe some day…

Yes, it’s just part of drumming up business.
You’ve got to remember, buyers aren’t shrinking violets, if someone likes your house and is interested in buying it, they will not be backward about knocking on your door and asking if you have any plans to sell it.
Buyers much prefer dealing direct with the owner because they know they’ll get a far better deal.
So ask yourself, how many buyers (not EAs) have dropped a letter through the door or knocked on the door asking if the property is for sale or might come on the market soon?
I mean, what kind of buyer would NOT make contact with home owners on the street or area where they’d decided to buy, and rely wholly on an EA for information about the local market?
Answer: only a timewaster.

Its a good photo copy though is’nt it ?!
:laughing: I havent seen that one for a while !! But , Like Mr.A , I think I know which EA it is (judging by your user name/area you are in …?)

To be fair , this EA had good results doing the same thing in the height of the boom. You would wonder why people would’nt expose the property fully, but how and ever…

Murrayo.

You’ve got me sussed! Yes, Twink is a neighbour :open_mouth:

My only reservation re our home being photographed and put on the web is privacy but that’s a side issue altogether (it’s immaculate, honest guv :wink: ).

The main issue for me is why this tactic is being used when there is no shortage of properties for sale in the area.

Increase supply => bring down prices => increased activity => increased EA fees albeit at a lower average fee?

It could make sense couldn’t it?

My dear old Uncle Robert was an Auctioneer, and as he had no children often encouraged me to join him in his practice.

He used to really relish a good hard recession as the reckoned that from once all hope of an imminent recovery was excepted by the Market you would make a fortune selling houses.

The reason was the vendors took any offer be it reasonable or not.
None of this business of showing hordes of buyers the property. None of this business of Vendors holding out for another few bob in a rising market.

The vendors took what they could get and bosh on to next sale collect commission.

Yes there is a happy time coming in 2010 for Auctioneers.

I have been out of the Dublin/Irish market for well over a year now, but some possibilities are;

If the EA has not got it for sale - they cant get paid a commission.(ie; take them all!)

In rough markets, people tend to all head to the Big name agents (SF,DNG etc) therefore , small guys (like the one who sent you the letter) though sometimes offering a better service, do not have that many ‘fresh’ houses on their books.

ps. If you are serious about selling - go for it -pictures & all- no pissing about .

Competetive Price & a motivated EA will be the main thing to have in place. Either be the best house of your type in the area or the cheapest, take yer pick !

Other than that, tell ‘photocopy’ boy to bring around his ‘interested buyers’ on a one off viewing, if he gets a buyer, do a deal with him…

BTW ; Ozzie maket is looking scarily like the Irish market I left 2 yrs ago!!

Best of luck either way !!

Hmmm… good insight. Many thanks & good luck down under

The Estate agents who were a major influence in inflating the morket will be a major influence in deflating it.

Hunger for fees you see