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okaycuckoo

Estate Agent Expecting Double Dip

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Spoke with an EA today.

He's worked with his firm for 10 years. They are the busiest on their street (I think planners make EAs line up in ghettos). His basic is £8k, rest made up by commission. Two years ago he was bringing in £2.2k pm net (including basic), the past year £1.4k.

His firm expects a double dip. The only properties they're selling are from divorce and death. But the market goes in cycles and "must pick up".

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Spoke with an EA today.

He's worked with his firm for 10 years. They are the busiest on their street (I think planners make EAs line up in ghettos). His basic is £8k, rest made up by commission. Two years ago he was bringing in £2.2k pm net (including basic), the past year £1.4k.

His firm expects a double dip. The only properties they're selling are from divorce and death. But the market goes in cycles and "must pick up".

If his basic is 8k thats below the uk minimum wage , unless his contracted hours are about 25 hpw, which is about 24 hpw too many for the current level of ea business. :D

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There are too many EAs out there. Some secondary and tertiary town centres are "just" EAs and charity shops.

In 5 years, they'll all be charity shops.

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There are too many EAs out there. Some secondary and tertiary town centres are "just" EAs and charity shops.

In 5 years, they'll all be charity shops.

They already are.

Buying a house at to-day's prices which allows EAs to earn their commissions now is an act of charity rather than an act of logic.

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They wont becuase too many "home owners" have mortgages that would be in negative equity if they revalued their house so are resigned to being stuck where they are for the next decade or so. This is why house prices wont crash down either, the individuals are carrying the debts ie neg eq and with the banks insolvent they cant afford to repossess and flog the property in auction becuase it will lower their book values making them actually insolvent.

Its a stalemate that will take years possibly a decade or two to sort itself out. Sure you still have your gullible buyers but there are also forced sellers who will have to take a hit on peak prices to get the sale. It will be a slow long road down. Ten years up ten years down imo!

Prices will fall regardless, as they did in the USA..... and closer to home, Ireland.

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They wont becuase too many "home owners" have mortgages that would be in negative equity if they revalued their house so are resigned to being stuck where they are for the next decade or so. This is why house prices wont crash down either, the individuals are carrying the debts ie neg eq and with the banks insolvent they cant afford to repossess and flog the property in auction becuase it will lower their book values making them actually insolvent.

Its a stalemate that will take years possibly a decade or two to sort itself out. Sure you still have your gullible buyers but there are also forced sellers who will have to take a hit on peak prices to get the sale. It will be a slow long road down. Ten years up ten years down imo!

DId you miss how quickly and by how much prices fell in 2008? Only dropping IRs to practically zero saved the market - they aren't going any lower and prices are falling again already. With the prospect of higher IRs and a double dip recession looming, do you really think anything can save the market from falling further and faster? It sure as hell won't take ten years.

There are too many EAs out there. Some secondary and tertiary town centres are "just" EAs and charity shops.

In 5 years, they'll all be charity shops.

If it wasn't for rentals, many EAs would have folded by now...

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They wont becuase too many "home owners" have mortgages that would be in negative equity if they revalued their house so are resigned to being stuck where they are for the next decade or so. This is why house prices wont crash down either, the individuals are carrying the debts ie neg eq and with the banks insolvent they cant afford to repossess and flog the property in auction becuase it will lower their book values making them actually insolvent.

Its a stalemate that will take years possibly a decade or two to sort itself out. Sure you still have your gullible buyers but there are also forced sellers who will have to take a hit on peak prices to get the sale. It will be a slow long road down. Ten years up ten years down imo!

Agree with the mechanism but not the time scale. People will keep dying, getting divorced etc and with such little cash in the system sale prices will drop. These sales will then set the new benchmark. At some stage people will realise that although they might not like a reduction in their selling price, they will pick up a commensurate reduction in their buying price.

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Spoke with an EA today.

He's worked with his firm for 10 years. They are the busiest on their street (I think planners make EAs line up in ghettos). His basic is £8k, rest made up by commission. Two years ago he was bringing in £2.2k pm net (including basic), the past year £1.4k.

His firm expects a double dip. The only properties they're selling are from divorce and death. But the market goes in cycles and "must pick up".

Recieved this yesterday, ea trying to earn Christmas beer money ??

"Hi,

We have just taken to the market today a 5 bed, Victorian property.

The property has been beautifully refurbished and is in a great location.

Price is £950,000

There is some urgency on this one though – in short, the vendor needs to have an offer accepted by Friday 26th November. This is because they have found a property to purchase in Brighton which is due for final and best offers on Friday. Their offer on this property will not be considered unless they themselves are under offer.

Our photographer is going in today for pictures & floorplans today, these should be ready tomorrow, but I strongly suggest you see this property as soon as possible with or without pictures available.

If you are interested, please call or email me immediately." :D:D:D:D

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Recieved this yesterday, ea trying to earn Christmas beer money ??

"Hi,

We have just taken to the market today a 5 bed, Victorian property.

The property has been beautifully refurbished and is in a great location.

Price is £950,000

There is some urgency on this one though – in short, the vendor needs to have an offer accepted by Friday 26th November. This is because they have found a property to purchase in Brighton which is due for final and best offers on Friday. Their offer on this property will not be considered unless they themselves are under offer.

Our photographer is going in today for pictures & floorplans today, these should be ready tomorrow, but I strongly suggest you see this property as soon as possible with or without pictures available.

If you are interested, please call or email me immediately." :D:D:D:D

Talk about long odds. I supposed if it was emailed to 6 billion people on the planet, a handful would want to take it, right at this time!

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Recieved this yesterday, ea trying to earn Christmas beer money ??

"Hi,

We have just taken to the market today a 5 bed, Victorian property.

The property has been beautifully refurbished and is in a great location.

Price is £950,000

There is some urgency on this one though – in short, the vendor needs to have an offer accepted by Friday 26th November. This is because they have found a property to purchase in Brighton which is due for final and best offers on Friday. Their offer on this property will not be considered unless they themselves are under offer.

Our photographer is going in today for pictures & floorplans today, these should be ready tomorrow, but I strongly suggest you see this property as soon as possible with or without pictures available.

If you are interested, please call or email me immediately." :D:D:D:D

So you run around like an idiot to make your offer.

The vendor makes the offer on the Brightone place but does not win

He then withdraws his house from sale.

What's the point?

tim

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  • 146 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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