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Latest Ea Tactics [Out Of Cities]

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My current take what's happening:

EAs are currently employing 2 tactics in country towns (not big Cities).

1. There appears to be anecdotal evidence they are trying to get vendors to take properties off the market now, often putting up under-offer or sold signs (I'm presuming these agents aren't members of a professional body) before pulling them. They will then re-market in the new year at slightly below their current ridiculous asking prices.

2. They are taking on new stock now, but not advertising them until after new year.

One can only assume they are doing this in an attempt to restrict supply until the new year, assuming this will keep their

ridiculous asking prices stable. One can only assume that only EAs with a decent balance sheet can employ this tactic as

sales continue to dive.

Thoughts ?

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Any house that isn't set at a price to go price has little/no chance of selling over Xmas - so agents and sellers agree of pulling the advetising as nothing to choose and a shiny new remarketing push in the "spring bounce".

News stories (and stats)over the autumn were replete with stories of swelling numbers of proprties for sale and limp new buyer enquiries - the above helps fusge the stats fro a while but when they all flood back onthe market after xmas there should be a few more stories of buyer/seller mismatches.

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Any house that isn't set at a price to go price has little/no chance of selling over Xmas - so agents and sellers agree of pulling the advetising as nothing to choose and a shiny new remarketing push in the "spring bounce".

News stories (and stats)over the autumn were replete with stories of swelling numbers of proprties for sale and limp new buyer enquiries - the above helps fusge the stats fro a while but when they all flood back onthe market after xmas there should be a few more stories of buyer/seller mismatches.

I no longer know if the following happens, but a few years ago during the boom years I believe that some London EAs used to give a donation to Parent Teacher Associations for every parent that was willing to place a 'sold' sign in their front garden.

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My current take what's happening:

EAs are currently employing 2 tactics in country towns (not big Cities).

1. There appears to be anecdotal evidence they are trying to get vendors to take properties off the market now, often putting up under-offer or sold signs (I'm presuming these agents aren't members of a professional body) before pulling them. They will then re-market in the new year at slightly below their current ridiculous asking prices.

2. They are taking on new stock now, but not advertising them until after new year.

No serious vendor is going to accept that happening. They will be checking their house on RM as soon as they have signed the paperwork and will be onto the agent immediately if they can't find it

tim

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No serious vendor is going to accept that happening. They will be checking their house on RM as soon as they have signed the paperwork and will be onto the agent immediately if they can't find it

tim

I spoke to an agent yesterday who wanted to run a property by me that they'd taken on, but

apparently "we don't market in November or December as we don't want the property sat on the market". This

to me is clear evidence they are holding back stock in a desperate bid to stave off price drops.

I've never heard of sales based businesses employing the tactic of trading only 10 months of the year before !!!!!!!

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We like to keep our eye on the market, not in a rush to buy at all. A tactic that was tried on me recently: Just before we viewed a house, someone from the EA office called to introduce themselves and told me that they would be the person who would handle any offers that we made. They explained that they would go through our finaces with us (because clearly we are idiots who cannot arrange a mortgage for ourselves). I know that this kind of thing goes on all the time and that EAs do it so they can find out exactly how much you can afford, but the twist was that he claimed that whilst his colleagues were working on behalf of the sellers, he would be working on ourbehalf to get the us the best price. As this would involve him negotiating the price down, and as we're not paying them, this is almost certainly just a tactic to lure me into a false sense of security. However, I wonder if it might also give them a tool for negotiating with the seller; by providing two different voices to the seller (the one 'working on our behalf' and the one working on theirs), they can try a good cop / bad cop routine until they reach a deal.

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I've never heard of sales based businesses employing the tactic of trading only 10 months of the year before !!!!!!!

Buckets and spade shop in Penzance? ;->

In my countryside area things are very quiet; few sales and few new properties marketed. Several properties have been removed for relisting in the new year by a couple of agents - it will be very interesting to see what price.

regards

J

Edited by ReJoyce

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Go to Rightmove, select a reasonably sized area, in the search criteria enter "last 14 days", click "Find Properties".

You'll then see that there's a fair amount of new property entering the market. Probably not as much as during Easter, but then not many people put their house up for sale immediately before Christmas.

Move along, no conspiracy here.

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My current take what's happening:

EAs are currently employing 2 tactics in country towns (not big Cities).

1. There appears to be anecdotal evidence they are trying to get vendors to take properties off the market now, often putting up under-offer or sold signs (I'm presuming these agents aren't members of a professional body) before pulling them. They will then re-market in the new year at slightly below their current ridiculous asking prices.

2. They are taking on new stock now, but not advertising them until after new year.

One can only assume they are doing this in an attempt to restrict supply until the new year, assuming this will keep their

ridiculous asking prices stable. One can only assume that only EAs with a decent balance sheet can employ this tactic as

sales continue to dive.

Thoughts ?

I think that the main player here now are the bank valuations and mortgage/earning ratio .... and this tactic will not effect them at all ..

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Go to Rightmove, select a reasonably sized area, in the search criteria enter "last 14 days", click "Find Properties".

You'll then see that there's a fair amount of new property entering the market. Probably not as much as during Easter, but then not many people put their house up for sale immediately before Christmas.

Move along, no conspiracy here.

Erm, I wasn't trying to suggest a conspiracy, but if you don't think small town local agents get together now & again to discuss pricing you're wrong.

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I spoke to an agent yesterday who wanted to run a property by me that they'd taken on, but

apparently "we don't market in November or December as we don't want the property sat on the market". This

to me is clear evidence they are holding back stock in a desperate bid to stave off price drops.

I've never heard of sales based businesses employing the tactic of trading only 10 months of the year before !!!!!!!

Surely it would suit agents better if prices did drop

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This is happening in West London (Zone 2) too. My sister went to put her flat on the market three weeks ago and was told by the agent to wait. He said there was already several similar properties like hers on the market and that it would be better to try to sell it at the beginning of spring so it wouldn't 'go stale'. I don't regard this as some kind of EA conspiracy. It just confirms what we all know - a stagnant market with very few buyers. Sellers don't have to sell and buyers simply won't (can't) buy at current levels. My sister's flat was valued at slightly over the 2007 peak which was 50% more than the price paid in late 2005. She went out shopping to celebrate the theoretical value of her unsellable asset.

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  • 145 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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