Jump to content
House Price Crash Forum
Sign in to follow this  
Mr Tickle

Classic Ea Bull...

Recommended Posts

Just had a chat to an EA in the area in which I am planning to buy, trying to gauge the market, slow, but they are waiting till the kids go back to school to see what happens (autumn bounce).

After I outlined my concerns of buying now, I was told that if I bought in such and such a school catchment, I would never loose money as their is always demand for housing :lol:

OK yes its a prime location I'll grant them, but I told them if there was a housing crash, they'd fall in value to a similar degree .....

Ah yes but that would leave the country in tatters the EA replied ........ I know says I, but it dont mean it can't happen does it ??

Wonder if they'd underright my position, incase of any loss I incurred..

Oh yeah, they also told me not to buy on a housing estate, they have props on the books at 165K and the builder is winging them out at £150K ......... but not to worry, they aint going down!!!!! :P

Share this post


Link to post
Share on other sites
Guest Bart of Darkness

How many bounces will it take before the truth sets in?

A Winter bounce? (oops, blame Christmas for that not happening).

A New Year bounce? (blame excessive NY celebrations for that not materialising)

A January bounce? (too cold)

February (ditto)

Looks like it's up to the Spring bounce to save the EAs again.

Spring 2010 probably. :lol:

Share this post


Link to post
Share on other sites

I'm registered with a few EA's and I had one call me a few days ago trying to sell a property. I said I thought it was overpriced and he actually told me to ignore the price. He admitted it was only a guide and if I liked a property I should offer what I felt it was worth. I was literally gobsmacked that he was so honest. Nice to hear though.

Share this post


Link to post
Share on other sites

Dont get too comfy with that EA, remember.

Your best friend is your pocket.

EA's are salesmen, making sales is what puts the bread on the table. No sales = starvation. When you are starving you will make friends with anyone who might put food on your table.

Share this post


Link to post
Share on other sites
Dont get too comfy with that EA, remember.

Your best friend is your pocket.

EA's are salesmen, making sales is what puts the bread on the table. No sales = starvation.  When you are starving you will make friends with anyone who might put food on your table.

Thanks. Yes I realise he isn't working in my interests. I've worked too hard and saved too much to just throw it away on the wrong property. When the right one comes along at the right price I'll buy again. Until then he's not having my money :)

Share this post


Link to post
Share on other sites

On this theme I chuckled when reading the attached press release from an estate agent in Salisbury:

First-time buyers can benefit from a brief pause in the market, say McKillop & Gregory, members of the country's largest network of independent estate agents.

First-time buyers now have a brief “window of opportunity”, according to members of the UK 's largest network of independent estate agents, Home Sale Network.

With house price growth cooling, first-time buyers can benefit from the fact that some purchasers are currently holding back to evaluate the current market.

More than 87% of Home Sale Network's 750 members, responding to their latest monthly survey, confirm that now is the moment for first-time buyers to put in the offer that they can afford.

A further 12% agree that, in the current “buyers' market”, properties needing modernisation or improvement will often be the slowest to sell – presenting first-time buyers with an opportunity, if they are prepared to invest some DIY effort.

The latest quarterly property market report from Home Sale Network's members throughout Britain recorded that, up to Christmas, sales to first-time buyers were just 13.2% of completions. But the New Year has given them a short-term chance to overtake more hesitant buyers.

Clive Gregory of McKillop & Gregory in Salisbury explains: “We are confident that there will be no dramatic decline in property prices, given all the predictions on 2005 interest rates and the continuing miss-match between supply and demand.

“Meanwhile, there is a window of opportunity for first-time buyers to exploit this brief lull”, said Clive.

“This will be a short lived opportunity. It will not take long for those buyers who are currently hesitating, having been unnerved by some of the recent media alarms, to recover their confidence and get back into the market”, he added.

Given that this reads as though it was written around Christmas I'm surprised it is still on the web site - some brief window!!

Share this post


Link to post
Share on other sites
Just had a chat to an EA in the area in which I am planning to buy, trying to gauge the market, slow, but they are waiting till the kids go back to school to see what happens (autumn bounce).

After I outlined my concerns of buying now, I was told that if I bought in such and such a school catchment, I would never loose money as their is always demand for housing  :lol:

OK yes its a prime location I'll grant them, but I told them if there was a housing crash, they'd fall in value to a similar degree .....

Ah yes but that would leave the country in tatters the EA replied ........ I know says I, but it dont mean it can't happen does it ??

Wonder if they'd underright my position, incase of any loss I incurred..

Oh yeah, they also told me not to buy on a housing estate, they have props on the books at 165K and the builder is winging them out at £150K  ......... but not to worry, they aint going down!!!!!  :P

Give them a break. Most Eas I've ever met are not the sharpest tools in the box, and most of them look pretty skint with their shiny suits and crap shoes. They know people don't like them and generally have little dignity left.

Let's face it, you only become an EA if you feel you have no ability in anything else. It's a job of last resort.

The thought of becoming an EA fills most people with so much dread that they up their game and start doing a bit of real work, whatever field they are in.

Share this post


Link to post
Share on other sites

I have to say I would not like their job.

It is a good legup to a real sales position and it does make you very very hard. And being hard is what sales is all about, its not for the weak hearted.

You can have the most fantastic product in the world, but if your sales team cannot get it out under the publics nose then you will go nowhere.

The salespeople I know earn their money, and stop at nothing to convert a punter to a sale.

Share this post


Link to post
Share on other sites
Give them a break. Most Eas I've ever met are not the sharpest tools in the box, and most of them look pretty skint with their shiny suits and crap shoes. They know people don't like them and generally have little dignity left.

Let's face it, you only become an EA if you feel you have no ability in anything else. It's a job of last resort.

The thought of becoming an EA fills most people with so much dread that they up their game and start doing a bit of real work, whatever field they are in.

Thats sort of what my parents used to say to me when I was younger... "Get your homework done Shaker. You dont want to end up an Estate Agent like that Mr Twaite".

Edited by shakerbaby

Share this post


Link to post
Share on other sites

For what its worth i looked in my local EA at lunchtime today, loads of properties still in the window

but all the furniture had been removed and a small note on the door saying this branch is now closed.

So all the EA Bull in the world did not save this agent !

Share this post


Link to post
Share on other sites
Guest Bart of Darkness

window of opportunity

If they don't want us to "miss the boat" shouldn't that be a "porthole of opportunity"?

“This will be a short lived opportunity. It will not take long for those buyers who are currently hesitating, having been unnerved by some of the recent media alarms, to recover their confidence and get back into the market”, he added.

Sounds like someone's talking out of their porthole anyway.

Share this post


Link to post
Share on other sites

I was in Bexleyheath on Thursday and looked in the EAs windows and after the lull when nobody was putting their property on the market, it sure looks like the inevitable mass rush for the exits has begun.

Then I drove past two properties that I happen to know are BTL places. They're rushing to the exits as well, it would seem.

But we are told that house prices are stabilizing, the BTL market is resiliant and generally all is rosy.

Are my eyes deceiving me, or are we in the formative stages of a massive 'correction'?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.