Sunday, Jun 22, 2008
Why I wont cry a tear on Estate Agent closures
Rightmove.co.uk: Why I wont cry a tear on Estate Agent closures
I have been watching the above property for a 3-4 years now. The owner tried to put it on rent initially but never got a tenent for more than a year.
Then tried to sell it. for the next 3 years not even a zilch. It was on the market for £350,000. Good spacious bunglow.
A builder bought this property last year. Needless to say he would have not paid the asking price.
He then divided the plot and built this EXTENSION
And guess what the extension is worth £375,000 and also the original property is on the market for £345,000.
I did confront the Estate agent how had he valued the property given the above facts.
Funny. Got no answer.
Posted by deepak @ 07:26 PM (970 views) Add Comment
11 Comments
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1. Juliep said...
I have seen this done quite a few times, the latest one was a bungalow on not a very big plot, completely flattened, and now they are in the process of building, sorry shoe horning 2 in its place, why............because of greed, there is no need for this. Just hope they are too f ing late and cant sell them !
2. Juliep said...
I have seen this done quite a few times, the latest one was a bungalow on not a very big plot, completely flattened, and now they are in the process of building, sorry shoe horning 2 in its place, why............because of greed, there is no need for this. Just hope they are too f ing late and cant sell them !
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. Fingerbob69 said...
Ok deepak, so this property ...the one you were watching- for 3/4 years?! which someone else actualy commited to buying... doing up, extending etc etc (insert Beenie type platitude) and is now seeking to sell on... FOR A PROFIT!... is not yours...'cos you didn't buy it! Despite having 3/4 years inwhich to do so....doh! And this is the Estate Agents(EA) fault because... Oh no... it isn't... it's got sweet FA to do with any EA!
Why would an EA be familar with the intimate history of this property over the last 4/5years. Afterall an EA can only (usually) go by what his employer ..the vendor... tells him/her.
Let's get few things straight HPC people...
1. I'm an estate agent... proud of it. I have always acted in the best intrests of my employer (as required to by Law)... the people who employ me -that's the members of the GB public who have asked me to act as their agent in the selling their home.
2. The greediest bastards in the property game are one of two types...
a/ someone who has a property to sell.
b/ someone who wants to buy a property.
An agents job is to modify the expectations of the seller while at the sametime, find the maximum the buyer is willing to spend. If the two coincide....sale!
There are bad EA's out there ...but not all EA's are bad.
5. Fingerbob69 said...
Ever asked a couple of estate agents along to value your house? Hands up who put their house on the market with lower valuation? ...yeah right! The greediest b*stards in any type of housing market are thosepeople with a house to sell.
6. Fingerbob69 said...
The greediest people in any housing market are those with a house to sell.
Have you had a house sell?
Every put it on the market with the agent who put the lowest valuation on it?
Naaaaaaaaaaaaa...!
7. hpwatcher said...
This is a classic ploy, I've seen it happening so many times.
There are now 2 properties which no one will want to buy!
8. Tinners said...
get a life !
9. deepak said...
FingerBob69,
First answer to your question. The reason why property did not move was it was too high for what it was. You couldn't sell it or rent it.
Second this is not the only property I'm watching.
Thirdly, My question was not about greed but something else. I asked the Estate agent who had valued it the underlying reasons for it.
As an estate agent in this case also the valuer you are required to see the previous property prices the current market and price it accordingly.
Funny I'm telling an estate agent how to do his job.
Doesn't make any difference the market will.
10. R P said...
Every agent wants a buyer like deepak, you can imagine his mailing list requirements....''Looking to move in 3 to 4 years'' You never know deepak, if your quick enough you might just buy in the next boom!
If I had a pound for every time I valued a house and the vendor said I want to try for more! I would be loaded..! Agents advise, vendors ignore, buyers buy, lenders lend and that why we are where we are! No EA is to blame!
11. Bath Estate Agent said...
This website so kindly named 'housepricecrash' has been going now for a few years. In the time that you lot have been rubbing your little hands together hoping for a crash you could have bought and sold several houses and have a tidy sum in the bank. What you perhaps don't realise is the our lovely Government has taken away every way there is possible to survive in your old age. You own home increase is a way of getting tax fee cash which can be reinvested for you old age! Unless you If you are hoping for people to start dying sooner or perhaps start a website called www.herecomesavainflu.com - that'll do it!