Archive for May, 2008

EA claims Up is Down

Posted: May 28, 2008 in Random Thoughts

Yesterday thepropertypin.com highlighted a case of an Estate Agent advertising an apartment as PRICE REDUCED FOR QUICK SALE when in fact the asking price had increased by €30,000 since March.

See Here.

I emailed the estate agent fully expecting them to correct their “mistake” and that would be the end of that. I was not prepared for the reply that came back.

I just sold a similar unit for 475,000, so I don’t understand.

So there you have it. Even if your apartment doesn’t sell, you can still increase the asking price, and if you can find an example of a “similar” unit selling for more at some time in the past, you get to bill the price increase as a decrease.

Up is Down, Down is Up. Truth is a Lie and lies are the truth.

This explaination relies on us accepting the following:

1. The EA is telling the truth about getting €475K
2. The EA is telling the truth about getting €475 recently
3. The EA is telling the truth about the other unit being similar

And we have to accept all of these things at a time when Estate Agents are crying about being “forced” to tell the truth about the selling prices they achieve.

Even if we are naive enough to accept all of the above, it still doesn’t get around the fact that this exact unit that is being advertised as “PRICED REDUCED”, was asking 30K LESS as recently as March.

Sometimes a price increase is just a price increase. The Truth can only be stretched so far.