Estate agent tactic?

[mogga]

Is this naughty?

Estate agent has two offices - each have sep ads in the property pages
- a property previously listed on one office is now shown on the other
as new (and a grand cheaper) ...

 

[John Smith]

Could be they are competing on commission amongst each other. However, a
house on sale for a grand cheaper. Hmmm, interesting... Aren't they supposed
to be rising by a zillion quid each day?

 

[mogga]

Could be they are competing on commission amongst each other. However, a
house on sale for a grand cheaper. Hmmm, interesting... Aren't they supposed
to be rising by a zillion quid each day?

Well its not on the original office now - and there have been a couple
on that street - one of which was reduced and then taken off the
market.

 

[DP]

Some properties are offered by several independent estate agent. I don't
know how they divide up the commission, but I'm sure someone does.

The "asking price" at any time is just a guide. A seller may want £100k, but
be advised to advertise at £110k to get this as some buyers like to feel
they have "won" by buying for less than the asking price. Indeed, an offer
at the asking price can be rejected (for property). It is possible that the
seller of this property agreed to "ask" one price for the first week and
another for the next week if no good offers were received. It would be
interesting to call the first office to ask the situation and price.

The idea of a property being "new" means little. Agents like to have a
certain proportion of "new" offerings. When things are going slowly, some of
these "new" properties could have been on the market for several weeks.

Yes, it is naughty, but then that is why estate agents have the reputation
they do.

Is this naughty?

Estate agent has two offices - each have sep ads in the property pages
- a property previously listed on one office is now shown on the other
as new (and a grand cheaper) ...

www.unitsale.com

 

[derek]

Is this naughty?

Estate agent has two offices - each have sep ads in the property pages
- a property previously listed on one office is now shown on the other
as new (and a grand cheaper) ...

Possibly the two estate agent's offices were originally seperate firms
and they are still run as independant offices with their own policies.

DG

 

[Richard Faulkner]

Is this naughty?

Estate agent has two offices - each have sep ads in the property pages
- a property previously listed on one office is now shown on the other
as new (and a grand cheaper) ...

probably illegal, (Criminal offence under Property Misdescriptions Act),
but will only be stopped if reported to Trading Standards.

It is certainly illegal in one office, and I would guess that Trading
Standards would deem it academic that there are two offices involved.

 

[Ronald Raygun]

probably illegal, (Criminal offence under Property Misdescriptions Act),
but will only be stopped if reported to Trading Standards.

What misdescription? The property isn't being described as "new"
in the sense of new-build, but as "new here", i.e. not advertised
here before.