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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-
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.
Another estate agent round us said they do this. But also that they then pile viewers in from more expensive nearby boroughs and wow them with how cheap / big the place is relative to where they came from.
I'd have thought those tactics wouldn't stand up long once a sale proceeds but who knows.
christianSpaceman
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?