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Estate Agents Unfazed By Rightmove Report Of 1.7% Drop In House Prices

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Miles Shipside, director of Right-move, says: “No-one really wants to come to market in August unless they have to. It shows these new sellers have a compelling need to sell, as they have lopped over £4,000 off the average asking price.

“Those who marketed earlier in the year but have yet to find a buyer may have to do a bit of pruning of their own to beat this new com-petition.

Holidaying buyers can relax on the beach while back at home sellers are reducing the cost of their future property by the price of the family holiday.”

There you go.

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Rightmove aren't really estate agents as such. I assume they get paid per listing, so a nice drop in prices wouldn't matter them as they just want people to sell.

Unlike idiot EAs who mistakenly believe the only way to profit is super high prices and not high turnover of sales.

Just clicked on the link it is about idiot EAs not what Miles Shipside said

But Peter Bolton King, chief executive of the NAEA, says it is only one month’s statistics from one firm and should be considered in this context.

Actually it's two months and nationwide showed a fall for this month aswell, also Halifax has been trending down since january

He adds: “The summer months are traditionally low and we have been going through a weird pick-up through a lack of housing supply.

“Also, we have to question whet-her [sic] the asking price or number of sales is the important thing. It doesn’t matter if prices are down by 1.7% if they are not being sold.”

Not so thick? Maybe he should tell his members this.

He adds: “People have got to sit back and see what happens and consumers are taking a mediumterm view rather than waiting for each month’s figures.”

Excellent plan if your a buyer, although a very risky game if your a seller

Edited by Pent Up
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Estate Agents are judged and judge themselves by the high values they achieve for their "customers".

We should judge them by the speed at which they take an instruction and have a completion.

I would take less money for my home if I was able to do a trade in say one month rather than 3, 6 or 9 months.

So all you EA's, let us hear from you how long your "average sale" takes from original instruction :P

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  • 420 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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