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Breaking News - Honest Ea Shocker!

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Was looking in the homes section of the local rag this week and noticed this market commentary from one estate agent:

Honest EA

Storm Clouds on the Horizon... 08/07/2010

Not a day passes without us being asked ‘what’s the market doing?’ The best answer we can give at the moment is that things are not quite as good as they could be. Activity in the housing market should be reaching its peak right now. Skies are blue, everything in the garden is rosy (unless you’ve been watching too much football and tennis) and with long, light days it ought to be the perfect time to buy and sell.

Skies may be blue but storm clouds hover. The nation’s economy is in turmoil, personal debt is at an all time high, unemployment is higher than it’s been for years, public services are being hit for six, pay cuts rather than pay rises are the order of the day, lenders remain ultra cautious about lending and VAT is going up. If there is just ONE factor to indicate a rise in house prices - please someone - tell us!

If these storm clouds break, house prices will be affected - there’s no two ways about it. A quick scan of this property supplement will reveal quite a few ‘NEW PRICE’ or ‘REDUCED’ tags. These alone suggest a downward adjustment is already in process. Many sellers are tempted to ask ‘just that little bit more’. For those wishing to do business sooner rather than later, asking ‘just that little bit less’ may prove sound advice - before the rain comes.

It’s good to have an awareness of this current climate but have no fear, the show will go on - many people have to buy and sell - whatever the weather. The most important thing is to balance the books and to buy and sell at the right price.

Anyone thinking of selling in this sticky climate is invited to take us up on our offer of a free open market appraisal. We’ll offer an honest and qualified opinion on what the market’s doing and where the value of your property lies. If you instruct us to sell, we’ll also offer to assist and advise you on securing your desired purchase - and at the best price.

Sadly, I fear it's too large a dose of honesty for most sellers but credit to the guy for trying...

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Was looking in the homes section of the local rag this week and noticed this market commentary from one estate agent:

Honest EA

Sadly, I fear it's too large a dose of honesty for most sellers but credit to the guy for trying...

Top bloke (for an EA). Sadly his window will be empty as all the delusional sellers will be more convinced by the valuation 20% higher from the local Countrywide Agent! :angry: :angry:

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In the 1990s crash there were EA's that gave up the ghost of trying to talk up the market, pretending that it was still the boom years, and of trying to keep house prices up or stagnant - these EA's started talking the market down, cut asking prices repeatedly until they got a sale and proactively involved themselves in helping their vendors negotiate a low price on the property they wanted to buy/move to so that they could accept a low price on the house/flat they were selling. These EA's developed a reputation for providing lower valuations than other EA's BUT developed a reputation for being able to sell whilst other EA's were failing miserably and achieving very few sales. These EA's recognised the need to adapt their approach to a falling market instead of hoping that if they told people everything was fine and that boom time prices could be achieved (i.e. they realised that the public were aware of what was the reality of the situation and that to continue the 'boom time' approach was making them very obviously, stupidly, unrealistic) - and made good money (I am told from a a bloke who owned a small chain of EA'ies during the 1990s HPC, but has since retired) from falling prices.

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Guest Noodle

Was looking in the homes section of the local rag this week and noticed this market commentary from one estate agent:

Honest EA

Sadly, I fear it's too large a dose of honesty for most sellers but credit to the guy for trying...

I'm amazed it's taken them this long to turn on HPI. Estate Agent's rely on sales turnover. Most of them may be too stupid to realise this as they're just office kids, but the old hands should have been forcing prices down for the past 2 years+.

So you make 1.5% of £125k instead of 1.5% of nothing.

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I'm amazed it's taken them this long to turn on HPI. Estate Agent's rely on sales turnover. Most of them may be too stupid to realise this as they're just office kids, but the old hands should have been forcing prices down for the past 2 years+.

So you make 1.5% of £125k instead of 1.5% of nothing.

Yep, it's a very simple concept - but one that most EAs don't seem to get. There was a 'comment' from another EA a few weeks ago (which fills the gap left by a lack of actual home for sale on the page of course) that basically buyers should pay at or close to asking price otherwise sellers will think they are either tight or not serious! Like I'm concerned by what some delluded sellers thinks. Fine by me though - I won't be putting in any offers with that one when the time comes to buy.

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Was looking in the homes section of the local rag this week and noticed this market commentary from one estate agent:

Honest EA

Sadly, I fear it's too large a dose of honesty for most sellers but credit to the guy for trying...

I notice this guy set up his business in 1986.

He did damn well to bring such a new firm through the last crash (volume fell off a cliff in 2nd half of 1988).

I'm guessing other agent could learn a thing or too from him.

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I'm amazed it's taken them this long to turn on HPI. Estate Agent's rely on sales turnover. Most of them may be too stupid to realise this as they're just office kids, but the old hands should have been forcing prices down for the past 2 years+.

So you make 1.5% of £125k instead of 1.5% of nothing.

Ea's sit behind their desks, phone to their ear (with no one on the other end), staring intensely at their computer screens (probably looking at porn), hoping that a stupid, ignorant, ill-informed mug will walk through the door with a little cash in their pocket....Its still happening. So these EA's will survive with low sales volumes off the back of other peoples debt misery.........

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Ea's sit behind their desks, phone to their ear (with no one on the other end), staring intensely at their computer screens (probably looking at porn), hoping that a stupid, ignorant, ill-informed mug will walk through the door with a little cash in their pocket....Its still happening. So these EA's will survive with low sales volumes off the back of other peoples debt misery.........

Estate agents require sales to survive what is 1% commission between friends....any sale at any price is better than no sale at all. ;)

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basically buyers should pay at or close to asking price otherwise sellers will think they are either tight or not serious!

The EA would be better advised to use a public posting like that to request sellers price their property at an affordable level, otherwise buyers will laugh at them for having obviously already blown the 'equity' they believed they had.

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Ea's sit behind their desks, phone to their ear (with no one on the other end), staring intensely at their computer screens (probably looking at porn), hoping that a stupid, ignorant, ill-informed mug will walk through the door with a little cash in their pocket....Its still happening. So these EA's will survive with low sales volumes off the back of other peoples debt misery.........

In Worcester, going by the Land Registry data for completed sales, its 'happening' 60% less than it was in 2006 and the years before that - those clever, clever Estate Agents being happy enough to survive on 40% of the business they had before. Perhaps other businesses should strive to achieve the same collapse in demand?

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I'm amazed it's taken them this long to turn on HPI. Estate Agent's rely on sales turnover. Most of them may be too stupid to realise this as they're just office kids, but the old hands should have been forcing prices down for the past 2 years+.

So you make 1.5% of £125k instead of 1.5% of nothing.

Problem being that if they go too far no-one will buy at all in an obviously falling market

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Thorny word - "Factor" Latin word meaning 'who/which acts'

"a person or firm managing a Scottish estate - rent collection/tithes/debts to laird etc"

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It continues to be a mystery to me why EAs constantly talk up the market. All it does is drag out a few extra sellers with unrealistic price expectations.

Surely the best thing for EAs is a lively well priced market with loads of turnover. Probably some of the smarter ones have already worked this out.

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It continues to be a mystery to me why EAs constantly talk up the market. All it does is drag out a few extra sellers with unrealistic price expectations.

Surely the best thing for EAs is a lively well priced market with loads of turnover. Probably some of the smarter ones have already worked this out.

...from what I understand they talk up the market to the sellers...get the business, wait a while then talk down the market to real buyers with real money or committed buyers of their own homes.....this is then a real incentive to any real seller, to sell at a real price. ;)

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...from what I understand they talk up the market to the sellers...get the business, wait a while then talk down the market to real buyers with real money or committed buyers of their own homes.....this is then a real incentive to any real seller, to sell at a real price. ;)

In my experience, the buyer just has a strop and takes the property off the market!

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When you say Honest EA, do you mean it's the same guy who used to post on here under that name?

No, don't think it's the same one-at least as far as I know.

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In my experience, the buyer just has a strop and takes the property off the market!

What! a buyer takes their property that they have a buyer for off the market....more fool them. ;)

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  • 140 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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