20 Minutes to view!

P. Breathnach

I'm in the market as a potential purchaser (although, I admit, I am tempted to step back a bit, as it looks to me as if the market is temporarily distorted). There was a new advertisement this evening, a property that might suit Herself and me. But, it includes

FIRST VIEWING ON SATURDAY 12TH APRIL @12PM (FOR 20 MINUTES)

Here's one potential purchaser who is not going to show up.

Borderfox

They have open viewings at the weekend and it seems to be only 30 minutes at maximum, it was that when mine was on show. Pretty poor in my opinion too much rushing for such a large purchase

Calhoun

Borderfox wrote: »

They have open viewings at the weekend and it seems to be only 30 minutes at maximum, it was that when mine was on show. Pretty poor in my opinion too much rushing for such a large purchase

Yah it's crazy when did spending 100's of thousands become a favour to the supplier, I would have thought the red carpet would be rolled out instead of the conveyor belt system.

the_syco

I'm wondering who controls the time? I'm thinking there might be a tenant currently living there that giving only a limited time per week for the EA to show the place off?

bucketybuck

I've never bought a house, but would this be some sort of initial viewing? As in, here's 20 minutes to have a quick look and see if its even close to what you need or want, and if you like what you see arrangements can be made for a more detailed inspection?

You don't have to buy the house after the 20 minutes, but you could have a pretty good idea of whether you may be interested or not.

Give as many people as possible 20 minutes each, then deal properly with those who are still interested afterwards, sounds reasonable to me anyway?

P. Breathnach

I did say in my initial post that I think the market is distorted. By that I meant that in some areas, including the area in which I am looking, we might be having a bit of a bubble. And I think that some EAs are playing the sort of game that worked for them in the "tiger" years: create a sense of panic or urgency, and stampede buyers.

bucketybuck, it's not 20 minutes each; it's 20 minutes for everybody at once. You might find more than a dozen people all trying to get a good look at a place simultaneously. I have seen a few places that might have suited me. After taking part in the first general viewing, I have contacted EAs to say that I am interested, but would like a more thorough viewing before deciding on an offer. It is not unusual to get a response along the lines of "I'm sure we can arrange something, but I think you should know that there is an offer in of <asking price + a good bit>". This can arise, for example, before lunchtime on a Monday after a Saturday viewing. That suggests to me that buyers are panicking a bit.

I don't mind open viewings. EAs are entitled to use their time as efficiently as possible. But where an EA sets such a very restricted time, I think that I am being treated as a pawn in a game. If I am interested in a property, I will probably want a few minutes to the EA's time at the open viewing. With an overall time frame of 20 minutes, I think it would be a struggle even to get answers to basic questions.

I'm lucky: there is no pressure on me to find a place to live, because I have one. But I think that people in a weaker position are being gamed by some EAs.

Ray Palmer

For a first viewing 20 minutes is plenty unless it is a huge house. It doesn't stop you checking out the area afterwards which is as important.

Even if you know an area the positioning of a particular house is important. Bus stop, shop, road used as a rat run etc... are specific to each house above the area itself.

bucketybuck

P. Breathnach wrote: »

bucketybuck, it's not 20 minutes each; it's 20 minutes for everybody at once.

Thanks for the clarification.

I still think that 20 minutes is enough on a first viewing to get a sense of whether you have any interest at all in the property, a quick walk around to check the layout and all the obvious features. But I can also see how that 20 minutes will feel a lot more rushed if there are a lot of other people doing the same thing at the same time. Like those people on Storage wars crowding the entrance trying to see whats in there.

20 minutes does seem a little arbitrary though, once the seller has went to the bother of arranging this why not make it an hour? Perhaps its to prevent the types of tyrekickers that will turn up with 5 minutes left and expect to poke around for ages, a stated 20 minutes only does suggest a level of preciseness that would discourage this.

omahaid

We're in the process of selling our house and we had the same as in the OP, i.e. a short open viewing (30 minutes) which provided people an opportunity to decide if they wanted to view the place properly. The auctioneer then arranged further viewings with the people who were still interested. The impression I get is that it is there to allow people to decide if they want a comprehensive viewing or not...

Ortiz

To be fair the EA is going out on a Saturday morning to work - they are accommodating you and 20 minutes should be plenty to get an initial feel for the property. You can then try to arrange a private viewing by appointment.

The way things are in Dublin at the moment an EA hardly has the time to accommodate 50 different people for one property. Open viewings on a Saturday get all the time wasters in and helps clear the EA's midweek up a bit. An EA could have 20 properties on his/her books and if they are Dublin based there is likely to be interest in all of them. Therefore how can you accommodate all interested parties? The best thing to do is set up several appointments on a Saturday to clear the pipes a bit. You might find that 30 minutes isn't enough time but what if the EA has 6 other viewings that day? It's also a Saturday I'm sure some EA's have a private life they wouldn't mind living...

Imo EA's are setting up these Saturday open viewings to be as efficient as possible with their time. People often accuse them of trying to panic buyers by bunching everyone together - I really think that is just buyer's paranoia. This is simply the most efficient way an EA can operate at the moment with the amount of demand that is out there.

ted1

OP, you making an issue where there is none.

20 minutes is plenty of time. This is an initial inspection to check out the place, if you like it, you then make arrange another viewing, and you'll get more time this time.

if it was for 2 hours, you'll probably only stay 10-15 minutes.

folan

its an open viewing, 20 mins is fine to let you have a look about and see if you are interested. If you want more, book an appointment.

hfallada

Maybe the EA is trying sort out the serious buyers from the casual public? I know in my area that a new house on viewing, is generally filled with neighbours having a look(about 50% of the viewings are just neighbours). I serious doubt an EA wants to spend a viewing answering questions from people who arent serious at buying.

I dont believe the BS about the market being in a mini boom that is about burst again. If houses in an area were selling for 1,5Million Eur in 2006 and are now about 550K. How much lower can they go? The whole story about a house being x amount of your salary isnt relevant. If a house is in a good area, with good school and has a prestige about it. People are obviously going to pay more for it than a Semi-D in some ghost estate in Cavan

UnGround

Same thing happened to me only i was never told there would be an issue about time until the EA shouted up the stairs to me that he had to leave in 2 minutes!

Biggest problem I had was that this was a Saturday and he said the house had an offer on it (about 6k under asking) and that it was being sold at lunch time on Monday either way so no chance for another viewing!

The house had about 4-5 couples looking at it so hard to get a good look at anything plus he had no answers to the questions i asked, i seemed to know more than him after researching the house/development on the internet/property price register.

That being said i had viewed/lost out on a couple of houses and when i walked into this one I knew it'd be mine so Monday evening came and we were sale agreed.

It worked out well for me as the speed of things ruled alot of people out (one couple made a bid but the EA wouldent take it as they did not have mortgage approval yet).

I'm glad the whole process is over, At the minute (don't know what it was like in the past) the EA's seem to think they are doing you a favour by letting you bid on a property instead of trying to sell it to you.

hognef

P. Breathnach wrote: »

I did say in my initial post that I think the market is distorted. By that I meant that in some areas, including the area in which I am looking, we might be having a bit of a bubble. And I think that some EAs are playing the sort of game that worked for them in the "tiger" years: create a sense of panic or urgency, and stampede buyers.

bucketybuck, it's not 20 minutes each; it's 20 minutes for everybody at once. You might find more than a dozen people all trying to get a good look at a place simultaneously. I have seen a few places that might have suited me. After taking part in the first general viewing, I have contacted EAs to say that I am interested, but would like a more thorough viewing before deciding on an offer. It is not unusual to get a response along the lines of "I'm sure we can arrange something, but I think you should know that there is an offer in of <asking price + a good bit>". This can arise, for example, before lunchtime on a Monday after a Saturday viewing. That suggests to me that buyers are panicking a bit.

I don't mind open viewings. EAs are entitled to use their time as efficiently as possible. But where an EA sets such a very restricted time, I think that I am being treated as a pawn in a game. If I am interested in a property, I will probably want a few minutes to the EA's time at the open viewing. With an overall time frame of 20 minutes, I think it would be a struggle even to get answers to basic questions.

I'm lucky: there is no pressure on me to find a place to live, because I have one. But I think that people in a weaker position are being gamed by some EAs.

How about this?

If, after the initial viewing, you are still interested, and there's already an offer on the table, make a slightly higher offer, then insist on a second viewing before following through. They'll have to take you seriously if you're bidding. You can always pull out if you decide you're no longer interested.

For obvious reasons, this can't be repeated too many times with the same EA.

jmayo

Ray Palmer wrote: »

For a first viewing 20 minutes is plenty unless it is a huge house. It doesn't stop you checking out the area afterwards which is as important.

Even if you know an area the positioning of a particular house is important. Bus stop, shop, road used as a rat run etc... are specific to each house above the area itself.

It might be enough if you (and I know you are an investor) are buying a stock house that you are for instance going to rent.
Not suitable if it is unsual house (not bog standard design), you reckon you are going to do work on it or if it is to be bought as a long term home.

And 20 minutes with maybe 5-20 other people in the way is not going to work.
Shove everyone into the kitchen and you get an idea what it would be like at a house party.
Wippee one item to check off the checklist.

jmayo

Ortiz wrote: »

To be fair the EA is going out on a Saturday morning to work - they are accommodating you and 20 minutes should be plenty to get an initial feel for the property. You can then try to arrange a private viewing by appointment.

La de da.
Lots of people work on saturday and they don't get to rail road people through just because it is a saturday.

hfallada wrote: »

I dont believe the BS about the market being in a mini boom that is about burst again. If houses in an area were selling for 1,5Million Eur in 2006 and are now about 550K. How much lower can they go? The whole story about a house being x amount of your salary isnt relevant. If a house is in a good area, with good school and has a prestige about it. People are obviously going to pay more for it than a Semi-D in some ghost estate in Cavan

Oh FFS when the christ are people going to stop comparing prices in 2006 and working out value based on it.

Do you even realise we had one of the world's biggest property bubbles. :mad:
People paid 200k for an old barn that was once a farmhouse in the ar**hole of nowhere in 2006.

No wonder the country is possibly on the verge of some sort of property mania again when you have people like yourself rubbishing the idea that a house should only be a low multiple of peoples actual salaries.
That rule should apply whether you are a doctor or a van driver.

I fooking dispair, I really do.

bucketybuck

jmayo wrote: »

No wonder the country is possibly on the verge of some sort of property mania again when you have people like yourself rubbishing the idea that a house should only be a low multiple of peoples actual salaries.
That rule should apply whether you are a doctor or a van driver.

And a poster above placing an offer on a house based on a few minutes viewing a few days before. Insanity.

handlemaster

Within the first few seconds you know if your interested or not

BeatNikDub

If you are rushed out of an open view on a Saturday it is more than likely because it has ran over time and the EA has to get to the next open view. They are on a schedule on a Saturday.
There are only so many they can fit in in one day and are generally always 30 minutes. You can't please everyone!

chris85

I went to my first viewing at the weekend. Viewing was for 30 mins, I spent maybe max 10 mins there, wasn't for us so probably could have just given it 5 mins but said may as well have a good luck around to get used to viewings and what to look for. If I was interested then would have contact EA asking for 2nd viewing with a view to making an offer.

DavyD_83

hfallada wrote: »

I dont believe the BS about the market being in a mini boom that is about burst again. If houses in an area were selling for 1,5Million Eur in 2006 and are now about 550K. How much lower can they go? The whole story about a house being x amount of your salary isnt relevant. If a house is in a good area, with good school and has a prestige about it. People are obviously going to pay more for it than a Semi-D in some ghost estate in Cavan

I think these observations fo min-boom/bubble are more relating to the fact prices are on the way back up.

Houses in my estate sold for >800K in the boom;
2 or 3 years ago, prices had come down to under 300K
Right now there are houses for sale for around 450K, and are creeping upwards.
These are all houses of same size and in similar condition;
We all know the price of a house is what somebody is willing to pay, but maybe many people are still willing to pay too much which forces the rest of buyers to compete at same level.

On Topic: 20 minutes for a group open viewing sounds very short to me and a case of EA trying to minimise time and effort on his part; unfortunately, as long as the EA can make satisfactory sales using this method, he's not going to change it for people's convenience.
If I could get same result from 20min work, as I can from 2 hours, I know which I would see as more effective.