After the Mail columnist Liz Jones found that the sale of her home had fallen through at the last minute, she put the property with a new agent, Savills.
‘The posh man’ (her words) went to value the property when she was away and called her to say: “It doesn’t feel very loved.”
Liz is of course outraged - which is pretty well her permanent state of mind - as we learned from her column yesterday.
“I hate him,” she writes, which sounds like a good start to a working relationship.
Why doesn’t he bother to mention the beautiful fields, new fencing, and barn conversion?
And how about her lovely bedroom suite with the marble shower and sink and the gorgeous radiators.
The posh man from Savills replies: “People don’t buy a property on the strength of a bedroom and bathroom suite. I don’t think your house is worth as much as you think.”
Aside from the fact that the candid columnist may finally have met her match, we’d like to know how you, as an agent, tell the client to take an axe to the price…
Comments
Peter, please follow the story not just twaddle you feel you need to post, this was not about price, but technique of telling the idiot public their house is not the best in the street, you all cant have the best one!
(Estate Agents only have themselves to blame for the lack of sales ...... if they all agreed to 'Price to Sell' things would move and activity in the market will get everything moving - come on, how about it?)
Do you think that if every agent priced their properties 25% lower, every property would sell?
Don't be silly, the banks won't lend to many people out there and the more expensive of the properties (Even if priced 25% lower) would still sit there unsold if an identical property nearby was slightly cheaper!!
There have always been properties that have remained unsold even back in the mid 90's when prices were a fraction of what they are today. Greedy home owners with ambitious agents will always exist no mater what the banks are doing. It's just more critical now to get the value right with far less buyers able to buy.
I wish people stopped blaming the agents all the time. Vendors shouldn't be greedy and if an agent is over-pricing, the vendor should ask one simple question, "Show me a similar property to mine that achieved that sale price."
6-months ago I had to politely advise a vendor to put the dogs outside or in the garage and put some air-fresheners out several hours before the viewing as buyers were complaining that the house stunk of dogs. If she didn't want to do this, she would find it hard to sell and even receive offers considerably lower from investment buyers. A week later she took it off the market and has stayed put ever since!! A friend of mine had to do a similar thing with an elderly person who had a bladder problem!!!
I think it is important the value correctly and give out the right message even if the message is difficult to give, but politeness and professionalism must remain at all times if we are to win back any respect for our industry.
Agent, after Agent, talk up the price in most cases to get the property onto their books.
The intention is to 'work on' the vendor later to drop the price.
Unfortunately, the vendor has already spent the over-hyped price first indicated and it's getting impossible to get a reduction.
Result? We see the stalemate which is all around us now.
Estate Agents only have themselves to blame for the lack of sales ...... if they all agreed to 'Price to Sell' things would move and activity in the market will get everything moving - come on, how about it?
Realistic pricing - how about trying it Estate Agents up and down the land???
I would never act on behalf of a friend or a journalist.
If anything goes wrong from their point of view it is asking for maximum trouble.
If it is over priced and the vendor will not see sense, fair enough, I will list it for them, but I will charge a marketing fee.
I'm not working for nothing and at least then there will be something in the pot to give it the best possible attempt. I would also make this very clear to the vendor.
What an idiot saying such a judgemental and insulting thing about a home. Even it is true, why say it?
Just because he doesn't like it, will not mean his buyers wont.
It is the market that decides what they like, not the agent.
Why not say 'the market will not support that price' instead of arguing about your opinion of value or whether a house feels loved or not?
Some of the staff of these top branded agents become so full of themselves don't they? Why would anyone instruct them when it is the sales skills you need to encourage viewings and offers. If this Savills twit says that to his clients, what on earth might he say to prospecive buyers?
If you were on the market with that agent, what would you think about his comments?
Good for Liz for exposing his rudeness! He must be feeling as unloved as her house by now!
Quite right but it is always best not to offend potential clients, especially journalists!
There is no point in this market in having overpriced property on the market. It wastes time and money.
I would tell them that it is not going to sell at that price, simple. I'm never too worried about offending.