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Interesting Estate Agent tactics

  • 06-03-2009 1:42am
    #1
    Shield
    Moderators, Society & Culture Moderators, Help & Feedback Category Moderators Posts: 9,808 CMod ✭✭✭✭


    This is just a quick one to look out for if it hasn't been mentioned already on this forum.

    I've started to notice that Estate Agents are marking properties from "For Sale" to "Sale Agreed".

    They will then remove the boards completely from the property for about a month, and then re-erect the board with another "For Sale" board.

    This has happened on many properties in the area I work in, and I can't help but wonder if it's a sly tactic by Estate Agents to give the impression that there is movement in the property market. I know for a fact that the properties in question are empty, and have been for quite some time.

    Interestingly enough, every time a property is "Sale Agreed", it re-appears a month later "For Sale" again but this time with between £10 to £20 knocked off the original price.

    Sly tactics to try and deceive would-be buyers, genuine buyers pulling out at the last minute, or Estate Agents fighting for their survival?

    You decide.


Comments

  • #2
    ntlbell
    Registered Users, Registered Users 2 Posts: 16,288 ✭✭✭✭ntlbell


    i don't see how they would gain much here.

    it's more than likely.

    person goes sale agreed.

    Bank doesn't agree with the evaluation.

    reduces the mortgage.

    they can't buy.

    Back on the market.


  • #3
    dolly13
    Closed Accounts Posts: 39 ✭dolly13


    It would be of no benefit to the agent to mark the property sale agreed and then re-advertise it. It would only serve to waste their money.. Remember there is a huge difference between "Sale Agreed" and "Sold" I would think this is simply a matter of sales falling through..


  • #4
    connundrum
    Registered Users, Registered Users 2 Posts: 5,563 ✭✭✭connundrum


    I've notice this a couple of times too, and can only put it down to the interested party losing out on a mortgage application/finding a better deal.

    There's a house down the road from us where the estate agent has erected the biggest SOLD sign I've ever seen. Seriously, if there could have been a fireworks display ran in conjunction with the sign the agent probably would've done it.


  • #5
    DJDC
    Closed Accounts Posts: 365 ✭✭DJDC


    A lot of estate agents now are going through really difficult times and maybe even struggling to pay their bills, put food on the table etc. If the economic situation doesn't improve soon, I would not be surprised to see various illegal and desperate acts of last resort. It just human nature.


  • #6
    dlambirl
    Registered Users, Registered Users 2 Posts: 2,062 ✭✭✭dlambirl


    I'd imagine the for sale signboards going back up are because the sale has fallen through


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  • #7
    Fozzie Bear
    Registered Users, Registered Users 2 Posts: 1,178 ✭✭✭Fozzie Bear


    Can't say what the cause/purpose of putting the sign up and down over a period of time is. But I have noticed it too with houses in the estate where I live in Oranmore. Two houses in particular have had this happen over the last 18 months fairly regularly. Can't really see how it would be of an advantage to an EA. If I seen a sold or sale agreed sign on a house I was interested in I'd take as meaning the house is off the market and look elsewhere. Would have no interest in getting dragged into a bidding war over a sign.


  • #8
    Freddie59
    Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    Fozzie Bear wrote: »
    Can't say what the cause/purpose of putting the sign up and down over a period of time is. But I have noticed it too with houses in the estate where I live in Oranmore. Two houses in particular have had this happen over the last 18 months fairly regularly. Can't really see how it would be of an advantage to an EA. If I seen a sold or sale agreed sign on a house I was interested in I'd take as meaning the house is off the market and look elsewhere. Would have no interest in getting dragged into a bidding war over a sign.
    Same here in Waterford. I've seen it with several houses.


  • #9
    sneakerfreak
    Closed Accounts Posts: 427 ✭✭sneakerfreak


    Its common practise.I know of one agent who began his company by putting let by and sale agreed signs up all over affluent areas outside apartment blocks with his email and number on the signs.He had nothing to do with any properties in those areas.

    Would be customers spot the signs and think "Hey this agency is managing to sell a lot of properties/let a lot of properties,I must give them a ring.".

    Its a good if not slightly underhand way of drumming up business and I would say its practised by a lot more agencies now because of the slump in property sales.The agent mentioned above is actually totally above board and offers a great and honest service,the erection of signs in this manner by him is the the only 'outside the box' action I have ever known him to be involved in.


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