Mar 04,2012
Minithumbdown
By:
Mar 04,2012
25 people found
this helpful
If you are really desperate to sell these people are the ones to go to. If not, avoid them. We were with a local agent getting interest at about 10% below valuation. EEA wrote several times with stats about their sales record. A valuer came along with the 'spiel' about OIEO being a strategy to get buyers interested and then they would assist in getting the price bid up.
In reality the only attempts at negotiation have been attempting to get us to accept offers 'below' their initial OIEO price.
Desperation in this housing market is clearly with the agents but remember that when they encourage you to accept tens of thousands of pounds less that their 'loss' is only 2% of that. your loss is 98%.
A number of potential viewers knocked at the door unable to get their calls to EEA returned.
The bottom line is that their advertising is aimed only at those who want a quick sale. A 'strap line' on our property on the internet announced a £40,000 reduction in price. This was not agreed with us and was a direct contradiction of what was agreed with them. They reluctanly took this off but then reduced the OIEO figure by £5000.
Of about 15 viewings only 2 were in a position to bid at something like the figure we agreed with EEA we may accept. the rest all had budgets including the OIEO price but were not in a position to get involved in any sort of bidding.
A very unsavoury aspect was when they attempted to push an offer at the (reduced) OIEO price telling me one down the road, had gone for £10,000 more but was better then ours. As this had been bought by one of our first viewings (not an EEA sale) who were budget constrained at that price, and as the property in question had not the kitchen extension we had, nor the conservatory - and the kitchen units in that house had just appeared in a skip outside - I asked just what sort of comparison this was! No answer came but it was clearly one which might earn them a commission, they hoped.
A few days later they said they were giving us notice that they were removing our property from their books in 14 days (saved us doing it) but wanted us to agree to them dropping the OIEO figure by a further £10,000 for the last two weeks.
WHEN THEIR OIEO SYSTEM CAN ONLY PRODUCE VIEWERS BUDGETARY CONSTRAINED AT THAT PRICE (HOW EASY IS IT TO GET THE LENDERS TO BREAK THEIR POLICY RULES IN THIS CLIMATE) HOW WOULD A REDUCTION DO ANYTHING OTHER THAN ATTRACT YET MORE PEOPLE WHO COULD AFFORD IT EVEN LESS?

EEA route may be ok for some. Their method however depresses the market and each time they browbeat a seller into reducing the price further their's becomes a self fulfilling mantra.
What agent could do to change your mind?
Return all calls from interested parties and recognise the OIEO model is not a panacea for a slow market. Don't seize on any local sale without first making a fair comparison.
Attached Files
Was this helpful? Yes
By: sally b
Jul 10, 2012
My property is for sale with Express Estate Agency and marketed at 20k below market price. I have felt my sales negotiator has been trying to push me into accepting an offer below the OIEO price, stating the buyer says a lot of work needs to be done to my property. This is untrue and has made me feel that they are not working in my best interests.
Im sure EEA will quote below this comment to contact their customer service team blah blah blah, but to be honest once my 16 week contract with them ends Im going back to a high street estate agent and advertise it at the market price.
By: Express Customer Care Team
Apr 13, 2012
Thank you for your recent review highlighting your concerns. We take every complaint extremely seriously and always look to utilise any feedback as constructively as possible. We are continuously looking at ways to improve our customer care to ensure that every client receives the best possible service. If you would like to email your details to: customercare@expressestateagency.co.uk one of our Customer Care team will contact you to resolve any issues. Warm regards, the Express Estate Agency.
By: cuddles
Mar 24, 2012
high commission charges and valuation prices were low and we decided to withdraw our house from sale and cancelled the contract 4 days after sales assesor left we checked the commission charge of 1.95%to be rather high and would have meant paying about £5000

Agent Response / Add a Comment

You can use this form to reply to the above review or a displayed comment on the above review.





Express Estate Agency

Peter House Oxford Street Manchester
Greater Manchester
M1 5AN

0161 209 3161

Opening hours


Find the Best Agent to
Buy, Sell or Rent Property