Real Estate Companies listing same property at difference prices

1633POSTS

13 years ago

I have browsing been Cuenca property listings for a few weeks now and have noticed that the same apartment(judging by the photos) will be often be listed at higher price on certain websites.聽 Also, I have noticed that certain websites will provide additional information, such as more specific information about the property's location, which is useful in judging where it is.

Here is an example:

CuencaRealEstate.com聽 $89,000
ecuadorablehomes.com聽 $84,900
hatibarenecuador.com聽 $85,000

Here is another example

Habitarenecuador.com聽 125,000
CuencaRealEstate.com聽 129,000
bienesraicesorellana.com聽 120,000

Draw your own conclusions from this, but I would start your negotiations at the lowest price published, and go from there.

1 member reacted to this post

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3lckr Serial expat

204POSTS

13 years ago

Welcome to Ecuador

vinny66 Serial expat

479POSTS

13 years ago

Good one Nards, hope everybody will do the same and then real state prices will keep low and real.
Expats please, check twice before buying or renting and check for real prices. Don't create a housing problem like in the States or Europe.

Vinny

3lckr Serial expat

204POSTS

13 years ago

Also, a good idea would be to get rid of that gringo look and speak perfect Spanish, but that麓s impossible, isn麓t it?
I usually send my girlfriend to do this kind of shopping, and when the numbers are spoken, show myself. I just looove the surprise look on ecuadorian faces: their little trick didn麓t work this time... Try it, it is amusing...

Nards Barley ViP

1633POSTS

13 years ago

I had to laugh at this one.

The American guy posts every couple days an ad for this house on Craigslist. The price is currently $187,000. In fact he posted .

Since he promotes the fact he works with brokers, his house is listed on a number of realtor's websites. One of those realtors posted a Craigslist ad yesterday with a list price of $200,000.

Globetrotter10 Member

3POSTS

13 years ago

vinny66 wrote:

Good one Nards, hope everybody will do the same and then real state prices will keep low and real.
Expats please, check twice before buying or renting and check for real prices. Don't create a housing problem like in the States or Europe.

Yep, I agree completely. Some guys try to spoil the property market there like in some other Middle American Countries. High prices helps only a minority and keeps the expats away.
But expats are important for Ecuador聮s economy.

Where I聮m now living, the property market is completely spoiled. locals and realtors dreaming from high prices, like a lottery win. But the expats don聮t now even think about to pay the asked prices. They prefer to stay at home or looking for other countries. We are here in a end of a bubble, shortly before a crash. Many stupid and ignorant people will loose a lot of money!

Globetrotter10 Member

3POSTS

13 years ago

Nards Barley wrote:
I had to laugh at this one.

The American guy posts every couple days an ad for this house on Craigslist. The price is currently $187,000.聽
...
One of those realtors posted a Craigslist ad yesterday with a list price of $200,000.

Nards, what do you think is the fair price?

Nards Barley ViP

1633POSTS

13 years ago

Globetrotter,

I actually think the price of 187,000 may be reasonable given the location (Puertas del Sol), size and furnishings.聽

What I found funny was that there was a competing ad on Craigslist for the same house from a broker at $200,000. Either the broker is oblivious to the fact the owner is trying to sell direct on Craigslist or that it doesn't matter.

Nards Barley ViP

1633POSTS

13 years ago

The other day on Craiglist, I was redirected to this new

Today I stumbled on the same property .

While of course property prices drop, and there can be a lack of communication of that fact to the people running these real estate websites, I think in some of these cases, it is simply the discretion of the real estate broker to decide what to list it at.

Possibly their arrangement with the client is simply they are entitled to as a commission, an amount above and beyond what the buyer is asking for it, as opposed to a percentage of the total sale. But who knows.

QueHayenCuenca聽聽聽聽聽聽聽聽聽117,000
Biences Raices Yanuncay聽聽聽聽109,500

Nards Barley ViP

1633POSTS

13 years ago

#10

This is a fairly new listing on CuencaRealestate.com

CuencaRealestate.com聽聽
AAACuencaRealestate聽聽聽

Nards Barley ViP

1633POSTS

13 years ago

#11

/begin outburst

If this town's bloggers (frugal, Canadian or otherwise)聽 were as responsive to my comments on their blogs as this individual was to my email, we might have a better informed expat community

/end outburst

Here is the reply I received to an email inquiry which I also posted below.

Thanks. We'll make the adjustment. Glad the hear the boys down at the Coffee Tree are on the ball.

Hello,

I am an expat living in Cuenca.聽 My friends and I often get together at the Coffee Tree to discuss investment opportunities.聽 Many of us browse the various Cuenca real estate websites each week and we sometimes see the same property listed at different prices. For instance,

While your listing is for $115,000 the following web page has it listed for $105,000

While I am sure you have a very good business reason for offering this property at $10,000 more than a competitor, it does leave us with the impression that you are padding the listing price, possibly as part of an overall sales strategy.

In any case, I wanted to give you the opportunity to clear up our confusion and to make the case why we should use your firm to purchase this and/or other properties, despite the fact that you may have higher listing prices.

regards