No. of potential house buyers in price range

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Posted 23rd Jan
An estate agent recently told me that on any given weekend there are around 30 buyers out doing viewings on properties of my type/price within the area.

Is there any stats on the number/percentage of potential buyers looking to buy at various price brackets? E.g 200k, 300k etc
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Number 1 rule of house buying, don't believe anything an estate agent says, it's all a lie.

"We've had a higher offer, you'll need to move up a lot"
"nah I'm OK thanks, I wish them well"
Two days later...
"We were wondering if you're still interested"
"Oh that's odd, I thought they'd had a much better offer"
* awkward silence *
Edited by: "dcx_badass" 23rd Jan
24 Comments
If you are looking for a house and book an appointment to view a house do you publicise that info or is it confidential between you and the estate agent?
Number 1 rule of house buying, don't believe anything an estate agent says, it's all a lie.

"We've had a higher offer, you'll need to move up a lot"
"nah I'm OK thanks, I wish them well"
Two days later...
"We were wondering if you're still interested"
"Oh that's odd, I thought they'd had a much better offer"
* awkward silence *
Edited by: "dcx_badass" 23rd Jan
I don't know your area but I can well believe that there would be that many people out looking.

We were recently in a very similar situation and we got incredibly lucky in that we heard about a property coming on the market and approached our seller direct (it ended up going through an agent still). The agent who dealt with our property sale is a very good friend and he told me exactly what you have said. We were in direct competition with LOADS of other couples looking at houses in the same price bracket and area. If an area is desirable not many houses come on he market as people are happy there and when they do they go so quick.

The issue about mistrust with agents is usually when they aren't acting for you. They tend to only care about getting as much commission as they can and getting the best possible price for the seller.

Another awful trick is getting you to use their in house broker for a mortgage or a business they are getting a kick back from. Agents have to confirm to the seller you're proceedable but they'll often take advantage of this to further line their pocket.

I don't think there would be stats for that though. Good luck with the hunt!
there are no stats and the number of buyers out there in any area of the country will depend on the time of year, the economic climate and the demand in the area for properties in general.

30 every weekend is an exaggeration, and people don't just look on the weekends, they look throughout the week!
It’s all a bit scary, seems easy to just say we want to move and start getting the house ready but it’s the night before agent is coming round for photos etc and it suddenly seems all real and daunting!
I've got friends buying and selling at the moment, the ones selling are getting around one viewing a week, even at reasonable prices, the ones buying are having offers below asking accepted, the markets slow, and its a buyers market.
PurrlineBargain23/01/2020 21:35

It’s all a bit scary, seems easy to just say we want to move and start g …It’s all a bit scary, seems easy to just say we want to move and start getting the house ready but it’s the night before agent is coming round for photos etc and it suddenly seems all real and daunting!



Just the beginning of all the stress!! We were first time buyers 10 years ago so it was really straightforward for us then but our move 4 weeks ago was horrendous. The stress of it if things start going wrong is pretty overwhelming.

Hope you manage to get some early interest and find something suitable.
dcx_badass23/01/2020 21:38

I've got friends buying and selling at the moment, the ones selling are …I've got friends buying and selling at the moment, the ones selling are getting around one viewing a week, even at reasonable prices, the ones buying are having offers below asking accepted, the markets slow, and its a buyers market.



The market is definitely slow which makes it so frantic for people wanting to buy in the right areas.
Jason23/01/2020 20:39

...They tend to only care about getting as much commission as they can and …...They tend to only care about getting as much commission as they can and getting the best possible price for the seller...


In my experience they are not after getting the best possible price for the seller, but the best possible buyer (for themselves). Sometimes these two things are the same but often they are not. If they get another £5k for the buyer that's probably only £50 to £100 for themselves, but if they can get a buyer who is also selling with them or is using their 'recommended' conveyancer or mortgage broker, then that's worth much much more to them.
Pandamansays23/01/2020 23:26

In my experience they are not after getting the best possible price for …In my experience they are not after getting the best possible price for the seller, but the best possible buyer (for themselves). Sometimes these two things are the same but often they are not. If they get another £5k for the buyer that's probably only £50 to £100 for themselves, but if they can get a buyer who is also selling with them or is using their 'recommended' conveyancer or mortgage broker, then that's worth much much more to them.


i agree. from my experience of estate agents, they are not acting in either the seller or the buyer's interest but their own. it makes little difference to them how much they get for the property as long as they shift it and get their commission. of course they will try to get the highest price they can as this will mean more commission but if it means shifting the property quicker at a lower price and they can dupe the seller to agree to this lower price, they will sell it quite happily.
A nice indicator of interest is to mark a property that you are interested in on purple bricks. You will then get immediate updates on viewings and offers.
Pandamansays23/01/2020 23:26

In my experience they are not after getting the best possible price for …In my experience they are not after getting the best possible price for the seller, but the best possible buyer (for themselves). Sometimes these two things are the same but often they are not. If they get another £5k for the buyer that's probably only £50 to £100 for themselves, but if they can get a buyer who is also selling with them or is using their 'recommended' conveyancer or mortgage broker, then that's worth much much more to them.


Reputation in an area inundated with agents means so much more. People these days aren’t shy about shouting about poor experiences. Hearing from someone that an agent tried to strong-arm you into accepting an offer you would have never anticipated accepting will put others off using them.

If it doesn’t sound like they’re going to work for you and put your best interests first others will likely be put off using them.

Again I think it comes down to area. Houses here sell within days and usually for asking or slightly above. If an agent operates in these areas of course they know it’s an easy commission with little effort before the conveyancing process starts.
Edited by: "Jason" 24th Jan
MadeDixonsCry24/01/2020 02:03

A nice indicator of interest is to mark a property that you are interested …A nice indicator of interest is to mark a property that you are interested in on purple bricks. You will then get immediate updates on viewings and offers.


I never knew this. Has it even been proven to be accurate?
Jason24/01/2020 08:13

I never knew this. Has it even been proven to be accurate?



Well I always got updates. Also, when you book a viewing you can see which times are available and you can assume which blocked off slots are booked viewings.
MadeDixonsCry24/01/2020 08:22

Well I always got updates. Also, when you book a viewing you can see which …Well I always got updates. Also, when you book a viewing you can see which times are available and you can assume which blocked off slots are booked viewings.


Or an estate agent may be busy doing viewings on another property at that time. Rare that an estate agent will only cover one property per weekend isn't it?
mutley123/01/2020 23:39

i agree. from my experience of estate agents, they are not acting in …i agree. from my experience of estate agents, they are not acting in either the seller or the buyer's interest but their own. it makes little difference to them how much they get for the property as long as they shift it and get their commission. of course they will try to get the highest price they can as this will mean more commission but if it means shifting the property quicker at a lower price and they can dupe the seller to agree to this lower price, they will sell it quite happily.


Spot on Mutters.
davewave24/01/2020 11:55

Or an estate agent may be busy doing viewings on another property at that …Or an estate agent may be busy doing viewings on another property at that time. Rare that an estate agent will only cover one property per weekend isn't it?


or the property owner does not want anyone to come over during those times.
Pandamansays24/01/2020 14:02

Spot on Mutters.


i have sold and bought enough properties to know how they work, lol. they have very predictable behaviour. it's like a formula right from the word go, when they are invited to come round and value your property for sale.

they have their standard practices and spiel that they follow pretty much to rule.
Jason24/01/2020 08:13

I never knew this. Has it even been proven to be accurate?


I have just received an email to say that someone is viewing a property I’ve marked saved
mutley124/01/2020 16:57

i have sold and bought enough properties to know how they work, lol. they …i have sold and bought enough properties to know how they work, lol. they have very predictable behaviour. it's like a formula right from the word go, when they are invited to come round and value your property for sale.they have their standard practices and spiel that they follow pretty much to rule.


And what’s happens after you instruct them?
PurrlineBargain24/01/2020 17:16

And what’s happens after you instruct them?


the spiel starts even before you instruct them there are two types of agents, one who overvalues and one who undervalues. what happens after you instruct them depends on which one you have chosen to market your property.
mutley124/01/2020 17:23

the spiel starts even before you instruct them there are two types …the spiel starts even before you instruct them there are two types of agents, one who overvalues and one who undervalues. what happens after you instruct them depends on which one you have chosen to market your property.


Overvalued?
30 seems alot to me.
PurrlineBargain24/01/2020 17:23

Overvalued?


lol, you don't think that what they have valued your property is what you are going to get do you? it may be so, but a lot of the time, what they have put your property on for is not what you are going to get.

they will either value it lower than what they think it will get or they will value it higher than what they think you will get. there are a few who will actually value it realistically but these are far and few between.
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