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I Spoke To An Ea This Weekend, This Is What He Said..

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Hi,

I was on my (early) Christmas works party on Saturday and whilst i was out I bumped into one of my cousins who I haven't seen for over 20yrs. He is now an EA in the North of England. Obviously I had a few drinks and I detest LA's and EA's so I started talking doom about the financial markets and housing market.

I asked him why the hell have house prices risen in a falling market and houses that have been on the market for over 4yrs have actually also had a price hike (in some, NOT ALL areas) his answer was this..

Estate Agents are very powerful people and can manipulate the market when needed. Due to lower sales we have begun to slowly raise some properties so we can make money. We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

I laughed at him "Very Powerful People eh??" lol. I asked him that surely if we start to lower the price of property to its 'normal' level (IMO about 33%) you will get more sales, he said that he is still making a living out of the stupid people but obviously in the end prices will fall due to pressure from the local councils and the housing ministry.

I talked about how the unemployment will rise but he butted in about low interest rates. I said obviously they will rise soon but he just laughed.

He may be my cousin, but I now hate the ******* as much as any LA or EA.

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Estate Agents are very powerful people and can manipulate the market when needed. Due to lower sales we have begun to slowly raise some properties so we can make money. We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

With such a dumb twisted logic I'm not surprised he became an EA... :lol:

(not to mention his illusion of power.... ROFLMAO)

EAs are barely one step up from PCSOs and traffic wardens...

--

Edited by wise_eagle

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Hi,

I was on my (early) Christmas works party on Saturday and whilst i was out I bumped into one of my cousins who I haven't seen for over 20yrs. He is now an EA in the North of England. Obviously I had a few drinks and I detest LA's and EA's so I started talking doom about the financial markets and housing market.

I asked him why the hell have house prices risen in a falling market and houses that have been on the market for over 4yrs have actually also had a price hike (in some, NOT ALL areas) his answer was this..

Estate Agents are very powerful people and can manipulate the market when needed. Due to lower sales we have begun to slowly raise some properties so we can make money. We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

I laughed at him "Very Powerful People eh??" lol. I asked him that surely if we start to lower the price of property to its 'normal' level (IMO about 33%) you will get more sales, he said that he is still making a living out of the stupid people but obviously in the end prices will fall due to pressure from the local councils and the housing ministry.

I talked about how the unemployment will rise but he butted in about low interest rates. I said obviously they will rise soon but he just laughed.

He may be my cousin, but I now hate the ******* as much as any LA or EA.

He has a point about the stupid people. He has a point about raising prices in regions when London goes up but then ignoring the dropping bit.

The only thing that will bring about HPC now is a massive rise in IRs which will probably need some kind of global economic crisis - look at how they managed Eire.

Edit:

Anyone who talks in terms of themselves having power is best avoided - run and do not look back.

Edited by The Masked Tulip

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We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

I can believe this. House prices around me are now higher than they would be for an equivalent property in zone four South London, 20 mins from The City.

It is ludicrous.

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Hi,

I was on my (early) Christmas works party on Saturday and whilst i was out I bumped into one of my cousins who I haven't seen for over 20yrs. He is now an EA in the North of England. Obviously I had a few drinks and I detest LA's and EA's so I started talking doom about the financial markets and housing market.

I asked him why the hell have house prices risen in a falling market and houses that have been on the market for over 4yrs have actually also had a price hike (in some, NOT ALL areas) his answer was this..

Estate Agents are very powerful people and can manipulate the market when needed. Due to lower sales we have begun to slowly raise some properties so we can make money. We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

I laughed at him "Very Powerful People eh??" lol. I asked him that surely if we start to lower the price of property to its 'normal' level (IMO about 33%) you will get more sales, he said that he is still making a living out of the stupid people but obviously in the end prices will fall due to pressure from the local councils and the housing ministry.

I talked about how the unemployment will rise but he butted in about low interest rates. I said obviously they will rise soon but he just laughed.

He may be my cousin, but I now hate the ******* as much as any LA or EA.

I think that s/he forgets about the bank valuations ... they will be the masters of the game ... plus also when the banks will check your income and how much you can afford ....

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With such a dumb twisted logic I'm not surprised he became an EA... :lol:

(not to mention his illusion of power.... ROFLMAO)

EAs are barely one step up from PCSOs and traffic wardens...

--

And prostitutes.

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Hi,

I was on my (early) Christmas works party on Saturday and whilst i was out I bumped into one of my cousins who I haven't seen for over 20yrs. He is now an EA in the North of England. Obviously I had a few drinks and I detest LA's and EA's so I started talking doom about the financial markets and housing market.

I asked him why the hell have house prices risen in a falling market and houses that have been on the market for over 4yrs have actually also had a price hike (in some, NOT ALL areas) his answer was this..

Estate Agents are very powerful people and can manipulate the market when needed. Due to lower sales we have begun to slowly raise some properties so we can make money. We jump on the bandwagon when we hear about higher prices in London and the south. The public are stupid and buy into this. We need to make money out of the stupid just to survive ourselves.

I laughed at him "Very Powerful People eh??" lol. I asked him that surely if we start to lower the price of property to its 'normal' level (IMO about 33%) you will get more sales, he said that he is still making a living out of the stupid people but obviously in the end prices will fall due to pressure from the local councils and the housing ministry.

I talked about how the unemployment will rise but he butted in about low interest rates. I said obviously they will rise soon but he just laughed.

He may be my cousin, but I now hate the ******* as much as any LA or EA.

I am pleased to confirm that in no way are we powerful enough, or indeed coordinated enough to manipulate the market. The sole reason that house prices are going up in a falling market is that vendors are too greedy. I will be the first to admit that there are some half-witted agents about, but those with any sense of the market will know that prices are generally falling.

The issue is that stupid vendors equate falling sale prices with having to accept a big drop on the asking price (of course priced correctly it will sell for the asking price or higher - even in this market). They then wrongly think that if they need to take a £20k offer, their house should be £25k more in the first place.

Fuzzy logic you shout - the agents should tell the vendor they are wrong you argue. But it is exceedingly difficult to tell someone in their own front room that their world view is bonkers and still retain their business.

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I knew a salesman once who sold fridges and cookers and stuff, and his main theme was that the public are stupid and all you have to do is trick them into thinking they're getting a good deal. He also had the view that as a salesman it was better working in a rural market town than a big city as people are more stupid in rural areas.

I take the view that most salesmen and people working for estate agents are stupid, so I don't tread in their dogpoo.

Estate Agents are very powerful people and can manipulate the market when needed.
They might be able to manipulate the market, but what's different now is that they're learning that the manipulation doesn't always yield results.

What must also be remembered is that a lot of house buyers are looking for a home to live in. For them, if they can afford a house and they like it, they'll try to buy. Whether it's going to lose a few £K or gain a few £K in the coming months is neither here nor there. Buyers will only stay away if they see a significantly falling market, in the hope that in a few months they'll be able to get more for their money.

Edited by Hyperduck Quack Quack

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  • 261 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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