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Your Move. No It's Yours Actually


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Just had a call from an EA working for Your Move checking if I was still looking for house. When I said yes she said 'Oh dear' in a patronising you poor loser type of tone. So I explained I'm perfectly happy to rent until prices come down. And, I was pretty sure that most potential buyers felt the same, especially as I could see nothing selling at the moment. I suggested that maybe a way out of the current stand off was for EAs like her to start managing sellers' price expectations down to a more realistic level.

She sounded a bit nonplussed but it put a smile on my face. :P

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I also had a call from the Your Move in my area. The lady had details for a large 1930's bay fronted semi. Now re-listed at 185K and coming in at the top end of what I was prepaired to pay when registering with them last summer.

At that point I explained the type of place I wanted and the area. (1930's bay front semi) and she almost fell off her seat. In the months that followed I was sent details on one awful property after another. Since christmas the standard has improved dramaticaly. And now this.

I asked for a weekend viewing and got the pick of any time Saturday! Luck me.

Now I have the deposit and finance in place 50/50 but I have no intention of buying this property. I know the crash has finaly come. All arrows are pointing down. Begining to wonder if it will be dangerous to view as we might fall in love with it.

The agent also told me the vendor excepted an offer at 180K from someone in a chain that fell through.

So if I decide to ignore by better judgement but still retain half a brain what should I offer? with my head and not my heart of course.

Oh my god, I just read that last bit back to myself.

I,m tempted. :o

I'm not going!

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I also had a call from the Your Move in my area. The lady had details for a large 1930's bay fronted semi. Now re-listed at 185K and coming in at the top end of what I was prepaired to pay when registering with them last summer.

At that point I explained the type of place I wanted and the area. (1930's bay front semi) and she almost fell off her seat. In the months that followed I was sent details on one awful property after another. Since christmas the standard has improved dramaticaly. And now this.

I asked for a weekend viewing and got the pick of any time Saturday! Luck me.

Now I have the deposit and finance in place 50/50 but I have no intention of buying this property. I know the crash has finaly come. All arrows are pointing down. Begining to wonder if it will be dangerous to view as we might fall in love with it.

The agent also told me the vendor excepted an offer at 180K from someone in a chain that fell through.

So if I decide to ignore by better judgement but still retain half a brain what should I offer? with my head and not my heart of course.

Oh my god, I just read that last bit back to myself.

I,m tempted. :o

I'm not going!

Go and see it but be hard headed about it. There is no one perfect house they all have pluses and minuses. Make sure you look for both. And. remember that if you don't get this one there'll be another one along in a few weeks and it will probably be cheaper. As my granny used to say 'Whits for you will no go by you'

:rolleyes:

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So EA's are actively contacting people they hope may want to buy a house.....

I would take this as a serious sign of desperation. They are not exactly known for being so pro active.

To the OP - next time they call and give it the 'Oh dear' patronising tone - simply ask them why are they calling you then ?

Wait for the silence then hang up. ****** em.

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What does 'Whits for you will no go by you' mean? I'm a foreigner.

thanks,

EC.

Good question !! I think it merely comes down to patience. If you have patience you will get what you want.

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What's for you will not go by you. Is the words in English.

It just means that if something (anything) is meant by destiny or fate to be planned or by some other opportune means meant to be the right thing for you either as a sale or a gift - then it will Happen and you will get it and fate willnot bypass you

so If a house comes up to Market and fate or destiny Intends this to be the one you get at the right price etc etc then you will get it. And that presumes that fates timing

is right.

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What does 'Whits for you will no go by you' mean? I'm a foreigner.

thanks,

EC.

Whats for you will not go by you.

I think I will let all go by me for the time being.

At these prices it's not for me. :angry:

Edited by Bear in mind
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Just had a call from an EA working for Your Move checking if I was still looking for house. When I said yes she said 'Oh dear' in a patronising you poor loser type of tone. So I explained I'm perfectly happy to rent until prices come down. And, I was pretty sure that most potential buyers felt the same, especially as I could see nothing selling at the moment. I suggested that maybe a way out of the current stand off was for EAs like her to start managing sellers' price expectations down to a more realistic level.

She sounded a bit nonplussed but it put a smile on my face. :P

It used to be policy that Your Move contacted all their buyers weekly or fornightly so things are slipping if you haven't heard from them for a while. Usually buyers just check on the internet these days and it is only active buyers who do register. EAs should review their buyer list regularly - no point in continually emailing details to anyone no longer interested after all. It also means you could be telling sellers you have 500 buyers registered when in reality there are only a small percentage actively looking.

As for the 'Oh dear ' remark you sound a bit cynical. Imagine I register someone a few months before and they tell me they are renting but really want to buy as soon as possible (they might not mean that but will say it anyway I imagine they think if they don't they will be ignored). So I call them and ask if they have found anything yet and they say no - so I say that's a shame (Oh dear isn't me) and i will mean it. They told me they wanted to find a house but they haven't. Actually I might say that's good if I have something I think might suit them. However as you were describing Your Move maybe they were being patronising !

Now to managing the Sellers expectations. My god I try. I have lost a few properties where other agents have given higher values purely because that was what the seller expected and to get the listing. 3-6 months later they are reduced and usually sell for about what I said in the first place, or less because the longer they are on the market the more likely it is to be devalued. However, I cannot deny I have properties on my books that are now overpriced because they have been on so long. Persuading those sellers they must reduce is very very difficult. I have given them comparables, shown them figures, bluntly told them their property will not sell at that price but to no avail. If they gave me a tough time and put the blame on me then I would say I was no longer acting for them, but they don't, they just want to 'wait and see' Any suggestions would be welcome.

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Any suggestions would be welcome.

Sack them. That's right, sack your clients. They're wasting your company's resources, so do what the management consultants do and apply the Pareto rule (80% of your business comes from 20% of your clients) and ditch the non-performers. Give them an ultimatum; you wont represent them any more if they don't lower their prices. End of. They'll have a conniption of course, but you, your clients and your customers will all benefit in the end from not tolerating time-wasters.

(I'm really not effing kidding either.)

Edited by kenzdawg
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Alternatively, don't accept them as clients in the first place. It looks bad on an EA when they list a property well above what it's realistic value is, because it damages their credibility.

The thing to remember is that the line between the seller and the EA gets blurred in the eyes of buyers and in reality. After all, while we know the seller owns the house, it's the EA who advertises it, promotes it, is associated with it, and so on. And if we see that you -- yes, you, not just the seller -- are trying to get 15% more than it's worth, then we feel, very correctly, that you are trying to take us for a ride.

Just say to the prospective client: I'm sorry, I cannot accept this listing if you insist on pricing it at N pounds. I think it is only worth N-10% (or whatever), and so to advertise it to the public and try to sell it at N pounds would be to engage in the process of trying to rip people off. I'm not willing to do that.

Put in these terms, it's frankly shocking that EA would ever accept overpriced listings. It's as if they do with the small hope there might just be a sucker out there. No wonder so many people take such a dim view of them.

EC.

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I know I've posted this in another thread a while ago but I think that some of the cosy deals that go on between RICS home valuers and some big EAs aren't helping manage sellers expectations on prices either.

I've noticed that more realistic prices and valuations tend to turn up on houses marketed by small local solicitors on GSPC. For example a few bungalows in Bearsden have come on with small local firms at much more sensible prices. However as noone else is asking reasonable prices competition for these properties is fierce and they almost always sell in days. Presumably the surveyors who are asked to do home valuations for small independents are also more independent and less tied into the whole 'lets keep prices at 2007 levels' mentality of the big agencies like Countrywide (who are often owned by the banks).

So yes I am really cynical. Seeing the events of 2008 onwards has made me that way.

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Sack them. That's right, sack your clients

I have tried a bit of that but they always say we don't want to go anyway - we trust you. But thinking about it that's a lot of b******s cos if they trusted me then they would do what I suggest. So the answer for me is to be more ruthless !

Just say to the prospective client: I'm sorry, I cannot accept this listing if you insist on pricing it at N pounds. I think it is only worth N-10% (or whatever), and so to advertise it to the public and try to sell it at N pounds would be to engage in the process of trying to rip people off. I'm not willing to do that.

That's what I was saying. It's not that I think I would be ripping people off, buyers are really not that naive, it's just that I don't think the property would sell at a higher price. I would say that 95% of offers coming in nowadays are below the asking price, unless there is a closing date (very rare).

I know I've posted this in another thread a while ago but I think that some of the cosy deals that go on between RICS home valuers and some big EAs aren't helping manage sellers expectations on prices either.

I've noticed that more realistic prices and valuations tend to turn up on houses marketed by small local solicitors on GSPC. For example a few bungalows in Bearsden have come on with small local firms at much more sensible prices. However as noone else is asking reasonable prices competition for these properties is fierce and they almost always sell in days. Presumably the surveyors who are asked to do home valuations for small independents are also more independent and less tied into the whole 'lets keep prices at 2007 levels' mentality of the big agencies like Countrywide (who are often owned by the banks).

I can't really disgree with this. If an EA manages to get a Home Report at a higher price of course a seller will be tempted to use them. They then expect to get that price. I would say your cynicism is justified there

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Interesting to hear the opinions of someone at the sharp end of the stick.

I do think EAs have to manage expectations better for the sake of themselves though really, a non functioning market like we have now doesn't really help anyone involved.

A big problem is there are a load of EAs who have no experience of a falling or stagnant market. They don't understand that you don't chase the market down but you set the price initially to sell. If prices fall faster than expected then you will have to review but at least try and get it right the first time. There are agents out there telling people the market has really picked up since Christmas and it has, but considering i was doing zero in November and December then that wouldn't be difficult.

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I know I've posted this in another thread a while ago but I think that some of the cosy deals that go on between RICS home valuers and some big EAs aren't helping manage sellers expectations on prices either.

I've noticed that more realistic prices and valuations tend to turn up on houses marketed by small local solicitors on GSPC. For example a few bungalows in Bearsden have come on with small local firms at much more sensible prices. However as noone else is asking reasonable prices competition for these properties is fierce and they almost always sell in days. Presumably the surveyors who are asked to do home valuations for small independents are also more independent and less tied into the whole 'lets keep prices at 2007 levels' mentality of the big agencies like Countrywide (who are often owned by the banks).

So yes I am really cynical. Seeing the events of 2008 onwards has made me that way.

Hi Siskin,

I agree totally with your comments looks like youve been burnt by Countrywide and the associated valuers as have I, see my comments also!!!

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I have tried a bit of that but they always say we don't want to go anyway - we trust you. But thinking about it that's a lot of b******s cos if they trusted me then they would do what I suggest. So the answer for me is to be more ruthless !

I'm sure they do because they're leeching off your resources. Tell them how much it costs you to keep them on your books i.e. your gross annual outgoings per client per month. And tell them if the earnings from their business exceeds that average x 6 months + reasonable profit they can fvck off. Of course it will give the lie to that EA favourite "we want to maximise your profit", but then that was always a bedtime story.

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  • 415 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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