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tiff

How Long Can Ea Go On Without A Sale?

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Just checking some of my local EA's today and see that they have sold no houses in the last few months. The only ones they have up with SSTC have been up since February/March of this year.

So how long do you think they can go on without selling any properties (or 1 or two), taking into account staff wages, building rental/maintenance, etc?

Edited by tiff

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Just checking some of my local EA's today and see that they have sold no houses in the last few months. The only ones they have up with SSTC have been up since February/March of this year.

So how long do you think they can go on without selling any properties (or 1 or two), taking into account staff wages, building rental/maintenance, etc?

Funny you should mention that, as it came back to my mind the other day. I track property in my own area of N14 on Rightmove - and it's been the same stuff for months now. I guess the EAs think the next few weeks - now the August holiday season is over - will mark the start of a house buying frenzy. It won't, of course, and then there's only the long, cold, dark Winter for them to look forward to. :D I think the next 6 months will see the first round of a major clean out in the EA business. The next stage will be next Spring, when those who've managed to hang on for the next Spring Bounce realise that isn't going to happen either.

Stand back and watch the show. It's going to be a good one!

Nomadd

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Yeah I have also been watching house prices in my area for a couple of years now and it is fairly recently I have just noticed the volume of houses that has been for sale for quite some time but hasn't sold. Some 18 months back they all had SSTC on them.

There is a few of them reducing prices now as well, citing 'Reduced for quick sale'. One of them is by around 15%, whereas the others are around 5%. None of them have sold though.

From a first time would be buyer I'm encouraged by this and wait patiently to see what happens over the winter months. I haven't seen it like this since the mid nineties!

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Judging by the number of EAs doing moonlight flits and disappearing into thin air along my commute from Dulwich to Holland Park, not long.

Most EAs still employed are either playing internet games or doing imaginary 'deals'.

Sales of Golfs, MINI Coopers, shiny suits, plastic shoes and cheap wine to plummet!

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In my part of rural Suffolk there have been a number of properties for sale for months which have just sold (post interest rate reduction). Partly this is the summer (it is a seasonal area) and it will be interesting to see if they move to sold.

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I imagine agents in the last few years have been making a fortune. Prices have gone up but commission rates have stayed the same. I guess many have doubled their turnover say compared to 5 years ago. So turnover is now down 30% - they are still making a lot more than 5 years ago.

I know a lot of agents. Haven't heard of redundancies yet. No doubt they will come. Know one where a girl left recently - Estate Agency not for her. They have replaced her.

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I imagine agents in the last few years have been making a fortune. Prices have gone up but commission rates have stayed the same. I guess many have doubled their turnover say compared to 5 years ago. So turnover is now down 30% - they are still making a lot more than 5 years ago.

I know a lot of agents. Haven't heard of redundancies yet. No doubt they will come. Know one where a girl left recently - Estate Agency not for her. They have replaced her.

Where did I read about estate agents going bust?

http://www.housepricecrash.co.uk/forum/ind...agent+goes+bust

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  • 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%



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