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Swansea Estate Agent Closes

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One of my EA contacts has told me that one of the estate agents in Mumbles, Swansea, has closed this week. I was told by my contact that they have taken over 20 properties from the closed estate agent.

The interesting thing is that the firm in question had their office in Mumbles where, as some of the EAs even now keep telling me, I am reliably informed that "Mumbles is different" - well, it clearly is not.

I feel sorry for the staff who have lost their job as they were friendly compared to some in other firms.

I wonder if they were holding out for the September bounce which, looks likely, did not materialise. I hear rumours from fellow Swansea HPCers and a few EA contacts that one of the bigger Swansea firms is having difficulties also - no idea if it is true or not.

But an EA firm closing down is - must be - a sign of worsening conditions in the local housing market.

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But an EA firm closing down is - must be - a sign of worsening conditions in the local housing market.

Of course it is. Nowehere is immune.

Brilliant news.

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Funny you should mention this. Only today I was on the bus and saw that a very long established but small estate agent in Streatham, London, had closed down. That was a week after seeing another agent in Mitcham, London, also closed.

What COULD this mean?? :blink:

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Where I am the place was overpopulated with EA's.

Now more are appearing. I don't know whether this is because people have been made redundant and started up their own businesses or because desperate businesses are trying to extend into new areas to get more volumes.

Anyway, the volumes are dismal. When one of the agents rings me up I take great delight in telling them about the new competition and that the competitions prices appear better.

Still no sign of price reductions though.

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I think I might open a "Charity Estate Agent". Then you don't have to pay for a lot of the costs.

Might even get some numpties to work there for nothing.

All profits (if any's left after paying me) to go to charity - gotta be a winner.Honest image etc etc.

I am going to blatantly steal that idea :P

Judging by the number of shops closing in the 'Mumbles is different' main shopping road, and the few tha have re-opened as charity shops, the only thing missing is a charity EA. If I win the Euro lottery tonight I will take a lease on one of the empty units and open a charity EA.

What do you reckon - £10 to stick a piece of A4 up on the wall with a pictue of your house and a price written on it?

:lol:

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Chorlton in manchester is different.

Silly prices there

BBC move to Salford probably reinforces it at moment.

All BBC movement to outer regions will alter house prices, HOW much relocation budget are us taxpayers giving them?

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One of my EA contacts has told me that one of the estate agents in Mumbles, Swansea, has closed this week. I was told by my contact that they have taken over 20 properties from the closed estate agent.

The interesting thing is that the firm in question had their office in Mumbles where, as some of the EAs even now keep telling me, I am reliably informed that "Mumbles is different" - well, it clearly is not.

I feel sorry for the staff who have lost their job as they were friendly compared to some in other firms.

I wonder if they were holding out for the September bounce which, looks likely, did not materialise. I hear rumours from fellow Swansea HPCers and a few EA contacts that one of the bigger Swansea firms is having difficulties also - no idea if it is true or not.

But an EA firm closing down is - must be - a sign of worsening conditions in the local housing market.

QUICK - drop a note through the letterbox of the remaining agents:

I strongly advise you to make every effort to persuade your vendors to drop their prices so you can achieve more sales. Whatever you do, don't try to talk the market up like we were told to. The Daily Express is your enemy.

Good luck

(Signed ex-employee of closed firm) now on JSA

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QUICK - drop a note through the letterbox of the remaining agents:

I strongly advise you to make every effort to persuade your vendors to drop their prices so you can achieve more sales. Whatever you do, don't try to talk the market up like we were told to. The Daily Express is your enemy.

Good luck

(Signed ex-employee of closed firm) now on JSA

Surely the answer is obvious?

Lower house prices = greater chance of a sale?

A sale at at lower price is better than none at all?

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Surely the answer is obvious?

Lower house prices = greater chance of a sale?

A sale at at lower price is better than none at all?

EAs themselves fight tooth and nail against price reductions.

Witness countless HPC'ers doing them a favour here pointing out exactly that here: http://www.estateagenttoday.co.uk/ and them having the help thrown back in their faces with visceral loathing.

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EAs themselves fight tooth and nail against price reductions.

Witness countless HPC'ers doing them a favour here pointing out exactly that here: http://www.estateagenttoday.co.uk/ and them having the help thrown back in their faces with visceral loathing.

The estate agent's duty of care is to achieve the best offer attainable from the best buyer available in the current market for their client. That is it. The EA business is not complicated. That is not the same as steadfastly defending ridiculous asking prices, pretending our area is different because of X,Y, Z stupid reason although the 2 are often confused by agents with less than 15 years experience due to the abnormal length and height of the last cycle which lasted nearly a generation. You have to remember that many agents (even those with 15 years experience and running their own firms) will only have known that prices rise as that has been broadly their experience for their full working lives. If you challenge that mantra , from a psycological stand point it challenges their whole ethos which people in general dont react favourably to. This is further compounded by the fact that to be successful in the current market requires true salesmanship and hard work which many agents who have grown fat on the excesses of the boom seem incapable of. A business plan which is basically to hold prices where they are and wait for the good times to return is no plan at all and will end in the closure of the EA business concerned.

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I think I might open a "Charity Estate Agent". Then you don't have to pay for a lot of the costs.

Might even get some numpties to work there for nothing.

All profits (if any's left after paying me) to go to charity - gotta be a winner.Honest image etc etc.

Morrisons were giving away free bread to charities in Newport today as part of their new store promotion, if only they had known.

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One of my EA contacts has told me that one of the estate agents in Mumbles, Swansea, has closed this week. I was told by my contact that they have taken over 20 properties from the closed estate agent.

The interesting thing is that the firm in question had their office in Mumbles where, as some of the EAs even now keep telling me, I am reliably informed that "Mumbles is different" - well, it clearly is not.

I feel sorry for the staff who have lost their job as they were friendly compared to some in other firms.

I wonder if they were holding out for the September bounce which, looks likely, did not materialise. I hear rumours from fellow Swansea HPCers and a few EA contacts that one of the bigger Swansea firms is having difficulties also - no idea if it is true or not.

But an EA firm closing down is - must be - a sign of worsening conditions in the local housing market.

1241698538_scrubs-party.gif

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The estate agent's duty of care is to achieve the best offer attainable from the best buyer available in the current market for their client. That is it. The EA business is not complicated. That is not the same as steadfastly defending ridiculous asking prices, pretending our area is different because of X,Y, Z stupid reason although the 2 are often confused by agents with less than 15 years experience due to the abnormal length and height of the last cycle which lasted nearly a generation. You have to remember that many agents (even those with 15 years experience and running their own firms) will only have known that prices rise as that has been broadly their experience for their full working lives. If you challenge that mantra , from a psycological stand point it challenges their whole ethos which people in general dont react favourably to. This is further compounded by the fact that to be successful in the current market requires true salesmanship and hard work which many agents who have grown fat on the excesses of the boom seem incapable of. A business plan which is basically to hold prices where they are and wait for the good times to return is no plan at all and will end in the closure of the EA business concerned.

Amen to that. And perhaps with less competition, the remaining EAs won't feel quite the need to overvalue.

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Text from a friend back in my home town in S Wales. Estate agent (15yrs est) letting the lease run out on his shop and now running his 21 sales plus rentals from home.

Second hand info so do not want post the EA name, just in case its gossip about the staff being laid off short notice.

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Text from a friend back in my home town in S Wales. Estate agent (15yrs est) letting the lease run out on his shop and now running his 21 sales plus rentals from home.

Second hand info so do not want post the EA name, just in case its gossip about the staff being laid off short notice.

Which town? Area?

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I saw another car sales garage close this week in Christchurch, Dorset. Thats 3 out of 6 on that road gone and not reopened in the last three years. Expect an avalanche of business closures before Christmas (as usual).

NO RECOVERY.

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I wonder if they were holding out for the September bounce which, looks likely, did not materialise.

Well the weather was too cool/warm/wet/dry.

Then there were unexpected, unpredictable events like Wimbledon, the school summer holidays, the rugby world cup.

They never had a chance.

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I saw another car sales garage close this week in Christchurch, Dorset. Thats 3 out of 6 on that road gone and not reopened in the last three years. Expect an avalanche of business closures before Christmas (as usual).

NO RECOVERY.

they should have QEd in the spring...that would have made all the difference.....

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laughing.smileface2.gif

The excuses are incredible. Just listening to all the bull on ITV then the former South African spoilt the bull by basically saying England were rubbish!

Right, I am off down to Mumbles to stare in the EA window and say loudly, to anyone nearby, "Things must be really dire in the housing market if estate agents are closing down!"

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  • 284 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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