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Everything posted by trust_me_im_an_ea

  1. The £200 (or thereabouts) is normally what estate agents will charge for the cost of for sale sign, internet ads, propertynews paper, brochures, etc. Most vendors will be asked to pay this before the agent will start marketing the property, but many will not push for payment until the sale completes or the vendor withdraws from the market. If someone withdraws and hasn't paid for the cost of the advertising, admin, etc (outlay) then the estate agent has been out of pocket in what they have spent on marketing that property.
  2. The average in the UK for homes is an 'E' rating. It would be nearly impossible to get an 'A' rating. The new-builds already have to have a SAP rating and developers will get that organised via their architect (I think).
  3. I think as suggested earlier, many people are not as serious as others and some perhaps don't really need to sell. It'll be interesting to see - for those who haven't yet paid estate agents their outlay (for sale sign, web advertising, propertynews, etc) it will cost them the guts of £200 to withdraw or pay about £150 to remain on the market. For those who have paid their outlay, I suspect many will think 'another cost!? stuff it, let's stay put and move home some other time when the market's better' The EPC (Energy Performance Certificate) will have a 10 year life span so for those that do get it now just so that they can remain on the market, if they withdraw in a few months' time due to lack of activity - it will still be usable if they decide to go on the market again in say, 6 years' time.
  4. I completely agree. [sorry got quite sensitive and didn't looked at this site for a few months] Energy Performance Certificates will be required for all properties (except new builds) from the 30th June - this will be the legal responsibility of the home owner to provide [can be got through estate agents] and with approx £125 + VAT to stay on the market a lot of people will likely withdraw and stay put.
  5. I don't know who you are trying to impress. I'm finding myself getting too involved in this forum already and I think it would be wise for me to bid you all farewell. I don't feel that I should have to come on here to defend my guesses. Before I go, I will say this: I am not comparing Belfast to any other UK city because I think that would be an unfair comparison - Belfast is unique, no other capital city that I can think of in the world is so close to another country's capital as Belfast is to Dublin (which we're still miles behind in terms of property prices). NI is influenced by both GB and RoI and in that Belfast is different from every other UK city. I lived in Scotland for 6 years, but I wouldn't compare Belfast wth Inverness, Edinburgh or Glasgow. There's no point in trying to use historical data to back up my guesses, since BTL mortgages are still a fairly recent thing and the whole investor driven market is still quite new. All I can do is look at the forces of demand and supply. The Price eqilibrium is where these meet, prices have had to drop, there is huge supply, demand has been very low for the last 12 months, but I'm seeing it coming back at a level. That's where my guess is based. I may be wrong, I'm prepared to admit that. Farewell to everyone, I wish you all success and maybe some day I'll sell your house for you or sell a house to you.
  6. I don't know, I could swear that when I registered I selected bull but who cares about labels?
  7. No, I didn't. I hope a bit of optimism though will bring a balance.
  8. I'm glad that I have amused you, but I think you have misunderstood what I said. I said that I think the market will bottom out - as it is at the moment with prices having fallen and in some cases still falling from the peak. Then, I believe we will see the prices grow again at 10% (a much more modest pace than the exeptional 2006 - 2007 period). Also, I know that past performance does not guarantee future performance, as I said God alone knows what the future holds. But, my guess is that when the crazy growth has fallen to the bottom, we will grow slowly from there. What I am saying about the 'provincial back waters' as you call them is that they aren't far from the 'buzz' of the city - get a train, get a bus for what 10 minutes and the value in what you can buy is worth it, in my opinion.
  9. 1.5% sounds good to me, let me sell your house for that and I'll definitely look after you. Of course, any ea would have this sort of reaction. What you have to consider is, if you're a vendor you are the ea's client and at the end of the day, it's people like you that will pay his/her salary. When you're on the other side as a buyer, a face in the general public you may be nice, and you may not. It is important that estate agents ensure they give good service and are pleasant to everyone, but when it's busy and often lots of people wander into the office for a nosey, it is hard to give everybody the sort of attention you want to. I would hope that you wouldn't have the sort of experience that you have described if you walked into any of our branches. Giving a FTB a hard time is wrong and I hope the ea regrets that.
  10. I just looked back and noticed that I said capital gains tax at 1% - of course I meant Stamp Duty Land Tax, not capital gains.
  11. Sorry, I meant to say earlier - by the end of today we were up to 9 sales agreed since the weekend. (That does include sites in new developments being booked) but for the majority they weren't reliant on people selling a property. Someone mentioned before that sales being agreed is different than a completion. I'm well aware of that. Two of those sales were to one investor, so they're back in. Also, people often have strong opinions about estate agents, the game they play, how we try to drive the market, etc. At the end of the day, much of what you see on the market is driven largely by vendors. I don't know how many times I've been out to give someone's property a market appraisal (some may say a valuation) and the home owner has said, 'No, I think it's worth more than that - I think it should go on the market at...' Of course, we can tactfully try to suggest that in our professional opinion, compared to other similar properties in the area.... but at the same time we are competing for business. If I say 'Mr Bloggs, your house should go on the market at £150k' and a competitor goes out and says 'put in on the market at £160k' - 9 times out of 10, they'll go with the other guy. For us, that's life. I may not like anyone's response to this, but what do you feel is fair for an estate agents % commission? BUT, before you answer - here are some things to consider: 1. In N.Ireland (and the UK in general) estate agents earn the lowest commissions out of pretty much anywhere else in the world - you go to France or Spain and you'll probably pay 3-4% to your estate agent 2. No one questions capital gains tax at 1% [for properties between £125k and £250k], solicitors charge probably about 1%. So, can we estate agents not charge 1% ? 3. Some agents are cowboys - should those who are qualified charge more to differentiate themselves? After all, you're more likely to be better protected by those who are part of a professional body or ombudsman scheme.
  12. Firstly, I have to say that I'm pleasantly surprised. I thought that you would practically chop my head off for being an estate agent and I appreciate the kind welcome. A bit of stick is fine by me - used to it. I'm not going to debate about whether or not people in here consider themselves to be experts, but I have seen a few comments along the lines of 'this house will be worth £60k in a couple of years'. The truth is, God alone knows the future and we can ony guess at what the world markets, and property markets will look like in a couple of years from now. My guess is that we will see the property market bottom out here (and I think it now has) and then, a much more slow and cautious growth of perhaps 10% each year. I have an old copy of property news from 1996 and when I compared it to a 2006 copy, the growth was 10% per year - that was before the boom really got going and that's where I think we'll go back to. Belfast, well...I think it will steady off over the rest of this year and then start to rise again, but slowly. It's hard to see what's going to happen on the whole political front but there does seem to be a lot more cross-border business happening. Of course, people will have differing attitudes as to whether that's good or bad. Belfast is looking better and better all the time, with that new shopping centre that looks like the top was chopped off London's gurkin and the Belfast mini version of the London eye, Titanic quarter, IKEA, an expanding GB Belfast City Airport - I think Belfast property will do very well in the years to come. I'd nearly be tempted to buy in Belfast myself, but you do get much more for your money living in the sticks! And people might say the distance and the travelling isn't worth it, but really our country aint that big and the whole westlink roadworks have got to help the traffic flows.
  13. I think it is more likely that in 2 years, this property will sell on the market at around £170k
  14. I'm sorry to burst your bubble all of you who are dreaming of property in Belfast falling below 100k next year, it isn't going to happen. I'm new to this forum, I am an Estate Agent but I know better than to say what company. But I will say this, that the branch that I work in, we have about 350 properties on the market and since yesterday morning we have agreed 7 sales. Yes, most were agreed below the asking price but there are signs that the market is beginning to stabilise - you can laugh all you want, but remember I do this for a living. Many of the posts in here are from people who seem to consider themselves experts, but on the ground, in reality I can tell you what is happening.
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