More properties on sale with more than one agent

[Owain]

"Mike Mitchell" wrote | I suppose the only "magic wand" one can wave is the price tag. | But I have already reduced the price twice, the property is | the cheapest (by far) in the village (if you discount flats) | and I'm going to wait until September when the schools are back | to see what happens.

If the target market is families with children, they'll be unlikely to want to move the children between schools during the school year. That means you're pretty much restricted to local buyers.

(Sorry.)

Owain

[Richard Faulkner]

In message , Mike Mitchell writes

If a house is "cheap" you will get several viewers and several offers of the asking price. The agent then uses their skill to get interested parties to bid up to their maximum, which should be close to market value.

There are several ways of bidding the price up:

Inviting best bids in writing - sealed envelopes to be opened at a particular time.

Phoning each with the latest highest bid, and either inviting higher bids, or just letting them bid if they want to.

Advertise the bid and invite higher offers within 7 days.

Always a problem with the english system. I used a reservation scheme, (a bit like the new builders), where a bidder placed a non-refundable deposit of anything between £1,000 and £5,000.

Chain breaking companies are equally free to walk away after 3 weeks if they want to - In fact I knew of several who would not exchange contracts until they were able to exchange contracts on a sale at a higher price.

[Richard Faulkner]

In message , Mike Mitchell writes

How do they know that it is not "only" because it is August??

The evidence seems to be that rises have slowed - to 0% in Reading, and

25% in parts of the North.

During the last boom and bust, prices in Manchester started to rise around 12-18 months after they did in the South, and started to fall around 2 years after they did in the South.

[Richard Faulkner]

In message , Mike Mitchell writes

Good idea! Like I said after your 1st post:

It's July (or was it August? ).

Wait until September and possibly October to give it a chance.

[G&M]

I thought that wasn't allowed anymore?

Ah - so all it needs to solve house overpricing is to abolish the railways :-) Must tell the Bank of England so that they can stop putting b****y interest rates up and screwing British industry.