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Estate Agent Bigs Up Hpc In The Press!

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OK so there I was cruising the homes section of the local rag a few weeks ago when I got to reading one of the 'market commentary' type things from this EA (he tends to be quite bearish - I've posted some stuff he's written on here before) and lo and behold, he encourages sellers to check out HPC!!

Kudos to the guy and for 'getting' that lower prices will result in greater volumes (why can't other EAs cotton on to this?). Mr Willey, I know you must come here and on behalf of the Somerset chapter of HPC, I salute you (glad to see you're getting plenty of instructions too) :D

Silly Offers or Silly Prices 14/04/2011

They’re flying in right now - ten, twenty, thirty, fifty thousand - even one hundred thousand less than some asking prices! But are they that silly? In many cases No - it’s get real time! The economy is in dire straits and doesn’t look like it’s going to recover anytime soon. Prospective buyers are coming into the office telling us they’ve taken a big hit on their asking price and they’re darn sure they’re going to get it back on their purchase!

At the risk of rattling some cages, there are many properties advertised within the pages of this newspaper that haven’t a hope in hell of attracting their advertised price. If their sellers want to sell they’ll have to lower their expectations or they simply won’t sell. Those that appreciate this and welcome offers should succeed, especially when they go out and bid on other places where the seller will negotiate. Those that won’t and have a fixation on a certain price should spare themselves a life of limbo and call it a day.

All of our clients are aware of what’s going on. Most have set sensible asking prices from the outset and virtually all will consider offers - on the basis that they’ll balance the books with a purchase at a price reflective of current conditions. I can report that this office has recently negotiated sales by as much as £50,000 below the asking price but our sellers have been happy because they’ve agreed to buy at a relatively lower price. As a matter of interest, we’ve also agreed sales at the asking price - because the price was right in the first place!

It could be prices have some way to fall yet - take a look at www.housepricecrash.co.uk. As time goes on and things get tougher it could become clear it’s not the offers that are silly, it’s the prices. Even so, sellers needn’t be put off, as more and more are becoming aware of what’s happening and setting their sights accordingly.

If YOU are thinking of selling and would like a free open market appraisal and a plan designed to succeed -

‘Call us First!’

Hero EA

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OK so there I was cruising the homes section of the local rag a few weeks ago when I got to reading one of the 'market commentary' type things from this EA (he tends to be quite bearish - I've posted some stuff he's written on here before) and lo and behold, he encourages sellers to check out HPC!!

Kudos to the guy and for 'getting' that lower prices will result in greater volumes (why can't other EAs cotton on to this?). Mr Willey, I know you must come here and on behalf of the Somerset chapter of HPC, I salute you (glad to see you're getting plenty of instructions too) :D

Hero EA

No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

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I can report that this office has recently negotiated sales by as much as £50,000 below the asking price but our sellers have been happy because they’ve agreed to buy at a relatively lower price.

Sweet music :D

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

A leech singing sweet music nonetheless

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

That's a bit harsh and certainly not justified. Of course he wants to sell, that's his job, but unlike most of his slimey colleagues he appears to be frank and honest.

In a world full of greedy delusional egomaniacs his approach certainly requires courage, it's much easier to appease the sellers' ego with some fantasy valuation than convince them of the true value of their property.

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Is Taunton going down?

I mean, are prices dropping or is this guy a voice crying in the wilderness?

Drifting down, but I expect things to speed up here (as everywhere) when news of drops starts filtering out. Still plenty of jokers but (relatively) reasonably priced houses are shifting.

Thought this was a bold tactic at first but glad it seems to be paying off, as hopefully other EAs might start being straighter with deluded sellers too.

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

....his volumes it would appear stem from the fact he is being honest and the locals see this.... :rolleyes:

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That's a bit harsh and certainly not justified. Of course he wants to sell, that's his job, but unlike most of his slimey colleagues he appears to be frank and honest.

In a world full of greedy delusional egomaniacs his approach certainly requires courage, it's much easier to appease the sellers' ego with some fantasy valuation than convince them of the true value of their property.

Firm, but fair.

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

I disagree. Strongly.

He is no more a VI than you, I or anyone else on this site. We all have a vested interest in prices falling. For many of us here it is so we can afford to buy a house. For this EA, it is so his clients time on market decrease and his volumes increase. We and he want the same thing, so I say welcome onboard.

Nor can I see what he is leeching. On balance, he is giving us more publicity than we are giving him, and he is giving us the opportunity to help him to bring prices in Taunton back to a sensible level so that people living there can sell and buy houses and resume a normal life. The opportunity that he is giving us is exactly what this site aims to achieve.

Further, not only should we shun EAs with "lower prices, higher volumes" mentality, we should embrace them. I wish more EAs were like that as at some point I (and possibly even you) will be needing one.

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I disagree. Strongly.

He is no more a VI than you, I or anyone else on this site. We all have a vested interest in prices falling. For many of us here it is so we can afford to buy a house. For this EA, it is so his clients time on market decrease and his volumes increase. We and he want the same thing, so I say welcome onboard.

Nor can I see what he is leeching. On balance, he is giving us more publicity than we are giving him, and he is giving us the opportunity to help him to bring prices in Taunton back to a sensible level so that people living there can sell and buy houses and resume a normal life. The opportunity that he is giving us is exactly what this site aims to achieve.

Further, not only should we shun EAs with "lower prices, higher volumes" mentality, we should embrace them. I wish more EAs were like that as at some point I (and possibly even you) will be needing one.

+1

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Is Taunton going down?

I mean, are prices dropping or is this guy a voice crying in the wilderness?

Slightly, I'm tracking 90 odd properties in Taunton. It seems like there are a lot more houses coming on to the market than are being sold and a lot of houses at the bottom end have taken 20k or so off since 2007.

It's worth noting that Chris Willey is a new estate agentcy, maybe 3 years - so hasn't had the previous 10 years of only knowing how to treat buyers like shit and talking nonsense thinking there good at selling.

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I don't really see why more estate agents don't think like the one in the article, especially since they're paid on commission.

Given the choice between:

  • arranging a quick house sale this month for £500,000 and getting £1000 commission in this month's pay packet
  • waiting in the hope of arranging a house sale next year for £600,000 and maybe getting £1200 commission next year

I know which one I'd choose!

It is of course true that the estate agents interests are more aligned with the seller than with the buyer, but I don't see that they have much incentive to get the best price for the seller.

But perhaps there's some estate agents who read these boards with more insight into how individual agents commission works?

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I disagree. Strongly.

......

Further, not only should we shun EAs with "lower prices, higher volumes" mentality, we should embrace them. I wish more EAs were like that as at some point I (and possibly even you) will be needing one.

+1 very good post.

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

I cannot agree with that.

If all estate agents did the same we would have our HPC. People would have less debt to service, be able to work less hours if they wanted and banks would make less money.

What's not to like?

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No one is a hero on HPC.

A vi such as this ea, using HPC to up his volumes is a leech.

Seriously, can anyone win with this website?

I say good on him, he's telling it like it is!

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Is Taunton going down?

I mean, are prices dropping or is this guy a voice crying in the wilderness?

Taunton prices aren't dropping fast enough for my liking, but as others have noted, they are drifting down slightly and supply is slowly increasing.

I say good on the guy, it's nice to see a bit of realism and if a few County Gazette readers check out the hpc site then it's a definite plus :)

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Any newcomer should be aware that some people deliberately post rude or off-putting things to discredit the site, so like most of the Internet, especially where there is controversy and powerful forces and financial interests are being challenged, keep your wits about you and take everything with a pinch of salt. (And there are also some genuine rude and off-putting people too, of course.)

If you're reading here, Chris Wiley (or son), nice one! Welcome aboard. :D

+1

I've noticed an increasing number of unpleasant posts from long-time registered (longer than me certainly) but infrequent posters. High house prices and an extortionate cost of living in the UK are destroying our economy, society and social mobility. It's also making a lot of greedy, ruthless and thoroughly unpleasant people very rich. They like to post here from time to time, especially when their livelihoods depend on it.

Read with an open mind while exercising caution.

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Thank you Mr Wiley. Obviously a very astute man and an estate agent who's got the smarts to survive this crisis.

Another anecdotal. Someone I know is thinking of moving house. She saw one she fancied and contacted the agent. Agent askes her what her position was, she replied that she had a house to sell but hadn't yet put it on the market. The agent said that they are only interested in people who are in a position to complete and refused to even let her view any properties.

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Shocker. HPC and EA form a coalition! They fall in love and live happily ever after!

Yes, until the referendum on moving to property taxes. Then the weaker party falls out woth the stronger...

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Is Taunton going down?

I mean, are prices dropping or is this guy a voice crying in the wilderness?

Yep...40% of the working population work in the public sector... Major cuts are looming over the county council...

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  • 311 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% +
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      • Even
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      • up 5%



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