Online agent eMoov has claimed that it is outperforming the high street for achieving above the asking price.
eMoov has compared its performance to the latest market data released last week by NAEA Propertymark.
According to the NAEA, 77% of homes sold for under the asking price and only 2% of properties sold for over.
However, eMoov says that in June it had 263 offers accepted, of which 54 were in excess of the asking price.
This 20% of homes ‘sold’ for over the asking price was “a colossal ten times the UK average”, eMoov claims, adding: “Essentially, a customer is ten times more likely to achieve over the asking price using eMoov than by using the average agent.
“As a result, we without question do a better job in achieving a great price for our customers than most, if not all, high street agents.”
It added: “We are leaving the competition in our wake.”
eMoov CEO Russell Quirk strongly suggested that his firm is very strong on negotiating and progression, saying that it is often claimed that “online agents cannot deliver the final aspect of a sale”.
He said: “Not only does the latest data prove otherwise, but it would seem that those that sell glass houses should think again before throwing such claims about.”
eMoov Outperforms the High Street for Achieving Above Asking Price
Oh please come on. If ever there was manipulation of stats and smoke and mirrors this is it. It depends on what your asking prices are in the first place doesn’t it?
If they are generally lower, because the vendors are psychologically primed to wanting to make sure they sell with a pay anyway model, then offers above asking are more likely to be achieved anyway.
What a load of codswallop!!!
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Utterly incorrigible.
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‘We are doing considerably better than you’, online agent tells high street
What next?
Russell unknowingly bumps into Michael Bruce in a bar in California:
https://www.youtube.com/watch?v=JNa-KLhUfU4&list=RDJNa-KLhUfU4&index=1
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Any agent who admits they sell more properties for more than the asking price than anyone else is admitting they get the asking price of more properties wrong than anyone else. I’m not sure boasting that “we are rubbish at assessing asking price” is the sort of marketing anyone ought to be publishing.
What this tells me (and any other half intelligent vendor) is emoov is guessing at what the asking price ought to be rather than knowing what it should be. An agent with an intimate knowledge of a local market with no more than about 50 applicants per property (type, size, price) range, knows where to pitch the price to get a timely sale at the best price achievable from the applicants they have. Whacking properties on the internet, hoping someone will see the portal listing is no way to satisfy duty of care and skill. At the very best this method of selling property is down to luck and chance.
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>Any agent who admits they sell more properties for more than the asking price than anyone else is admitting they get the asking price of more properties wrong than anyone else.
Robert, so would you recommend steering clear of an Agent who claims to achieve £9640.82 above the asking price on average? Even if they are described as one of Britain’s “Best Small Estate Agents” by the Telegraph?
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If an agent makes a claim it has to be supported by fact, if the facts support the claim well done that agent. If the agent trawls about for anything that makes a case for them and then uses to produce obviously flawed claim that’s a different matter, if the agent is doing it consistently in breach of CPR and BPR that’s something else again.
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Robert,
I’m having trouble reconciling your two comments.
“Any agent who admits they sell more properties for more than the asking price than anyone else is admitting they get the asking price of more properties wrong than anyone else”
“If an agent makes a claim it has to be supported by fact, if the facts support the claim well done that agent.”
Then you say…
“What this tells me (and any other half intelligent vendor) is emoov is guessing at what the asking price ought to be rather than knowing what it should be.”
Surely this would be the same argument for the Agent i refer to above? They must be guessing the wrong value if their average valuation is £9K off.
Seems like another case of double standards to me.
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If an agent claims to achieve 2% more than everyone else but is using data that is known to be 3.49% out of date the claim is a false claim. the agent is achieving prices 2% higher than they were but 1.49% less than they are now
If an agent reckons they are consistently selling for more than their asking price that is an indication their asking price is incorrect.
If an agent is achieving more than their competition and can prove it that is to be congratulated
Is all of that really too hard to follow? It’s hardly double standards.
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Another “we are still here” posting by Quirk
Point is though, for how much longer.
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In light of NTSEATs recent ruling on call-centre claims, Mr Quirk could be expecting a knock on his door sometime soon after this most recent demonstration of his abilities as a mathematician and CEO.
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Agree 100% with the above postings. In addition, ‘offers accepted’ is clearly not the same as properties ‘sold’ so I would like to know how many of those 263 ‘offers accepted’ actually went all the way to completion.
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I believe everything Mr Quirk says.
I believe he is honourable and true and probably very very good looking.
I also think Mr Trump is a lovely fellow and kim jong-il is a very misunderstood chap
I like daisy’s and buttercups and fairy’s at the bottom of the garden.
You follow me ?
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Ros and Nick.
I think you need to look at this as the quote of the week!
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I’ve heard quite a lot from this chap in recent years. Only really remarkable because I’ve never seen a property on the market with them.
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here’s one
http://www.rightmove.co.uk/property-for-sale/property-47769396.html
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“Offers in the region of” surely doesn’t follow the above sentiment?
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Can’t be theirs, it says it’s price reduced for a quick sale and has been on the market for 6 months. Must be a different emoov.
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It gets better, Robert…
Here’s the Zoopla listing for the property:
https://www.zoopla.co.uk/for-sale/details/42691840?search_identifier=3b2a4b6dbe13848059fda4078c9d4f11#9POdKlocgSp8Htqu.97
As can be seen – it has been reduced TWICE… and strangely not showing as listed until APRIL. What happened from January to then appears to have been swallowed in the convenient ether at Zoopla Towers – perhaps someone else can enlighten.
But here’s all its other price incarnations on RM in case anyone’s in the slightest interested…
£499,000 – http://webcache.googleusercontent.com/search?q=cache:rkheMGc_vBEJ:www.rightmove.co.uk/property-for-sale/property-47769396.html+&cd=2&hl=en&ct=clnk&gl=uk
£515,000 – http://webcache.googleusercontent.com/search?q=cache:m6knxorAdaEJ:www.rightmove.co.uk/property-for-sale/property-46401429.html+&cd=3&hl=en&ct=clnk&gl=uk
I also note that it has been listed with a traditional Agent about a month ago.
I guess the contest between models has already begun in this instance… so may the best one win!
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One of the things Bob March can happily take some credit for is ensuring the date added to Rightmove is consistent across all the iterations of the same property ( Doppelgangers). One has to suspect there will be another version of this listing a few quid less than the agreed sale price in order to support the latest variation of marketing strategy.
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Shall we take it that The Quirkster has the information of these 54 “accepted offers” to hand and would be prepared to furnish them to EYE for scrutiny?
Just the property postcodes will do…
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Maybe this Agent needs to consider the thoughts of their clients before boasting about how “well” they think they are doing – this vendor has a very interesting opinion:
https://uk.trustpilot.com/reviews/597be86aa64b41086ceffa90
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