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Interesting. I've seen a place listed with them that I like, but I need £5-£10k off asking price to make it work. Not sure if there's any point viewing, but it sounds like maybe there is?
Sparky-
I’d always assumed that they just overvalue to get the listing and optimistically hope somebody out there may pay it, then just reduce it if it’s not shifting.
I don’t see a problem with a low offer, they’ll be glad to put any offer to the seller, show there’s interest and use it to push up any other offers they receive.
I wouldn’t feel bad making an offer more than 5-10k below, you can always increase it. It would also depend if the property been listed for long, and if you’re dependent on selling/in a chain or can move quickly.
MisterEd
They recently did a valuation on my place and were a good 7-10% above the others.
I know of one, maybe two, instances of them pricing properties that haven’t sold with other agents at around 25k more when switched to them.