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KingBingo

Houses Are Never Overpriced

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Just seen this gem, post here: http://www.estateagenttoday.co.uk/news_features/Asking-prices-shoot-up-nearly-3-on-Rightmove at 16:20 by Fun Boy Agent, presented without comment, draw your own conclusions as to this EAs mindset.

"In 27 years of EA I have never ever come across a property that is 'overpriced' by Vendor expectation. Although I would be the first to agree that far too many vendors have their timing out by many, many years (even decades) to obtain the price they want. In other words, the price is right but the timing is out."

Do you think a lot of agents think the same?

Edited by KingBingo

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In a way he's right. Most potential first time buyers can only afford pre-2000 prices but vendors expect post-2005 prices. Vendors' timing is out, but not in the direction he thinks.

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In a way he's right. Most potential first time buyers can only afford pre-2000 prices but vendors expect post-2005 prices. Vendors' timing is out, but not in the direction he thinks.

Good point, but I reckon that would sail so far over his head he would need a telescope to see it.

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I read that earlier.I like to go over to EA today to watch the locals turning on eachother!! There are times when i can't work out who the EA's are! :P Good to see a few Hpc'ers on there too :)

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It's true! If I owned a property I'd market it at 45 gazillion intergalactic zarquons, I think I'd have a bit of a wait for a buyer since we've yet to find intelligent life on earth nevermind anywhere else, but Im not giving away.

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"In 27 years of EA I have never ever come across a property that is 'overpriced' by Vendor expectation. Although I would be the first to agree that far too many vendors have their timing out by many, many years (even decades) to obtain the price they want. In other words, the price is right but the timing is out."

de·lu·sion

Noun

An idiosyncratic belief or impression that is firmly maintained despite being contradicted by what is generally accepted as reality or rational argument, typically a symptom of mental disorder

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Just seen this gem, post here: http://www.estateagenttoday.co.uk/news_features/Asking-prices-shoot-up-nearly-3-on-Rightmove at 16:20 by Fun Boy Agent, presented without comment, draw your own conclusions as to this EAs mindset.

"In 27 years of EA I have never ever come across a property that is 'overpriced' by Vendor expectation. Although I would be the first to agree that far too many vendors have their timing out by many, many years (even decades) to obtain the price they want. In other words, the price is right but the timing is out."

Do you think a lot of agents think the same?

So by that logic nothing is ever overpriced.

Bread for example will be £3 a loaf within a few years, by this EA logic the supermarkets should put the price up to £3 now as after all it will get there eventually...

What a muppet!

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It's true! If I owned a property I'd market it at 45 gazillion intergalactic zarquons, I think I'd have a bit of a wait for a buyer since we've yet to find intelligent life on earth nevermind anywhere else, but Im not giving away.

LOL!

If I offer you 0.00001 intergalactic zarquons for it, will you be insulted?

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So by that logic nothing is ever overpriced.

Bread for example will be £3 a loaf within a few years, by this EA logic the supermarkets should put the price up to £3 now as after all it will get there eventually...

What a muppet!

or equally illogical - "the price is right but the currency is wrong" Zim dollars anyone?

What an idiot that guy sounds. If he really believes what he says, he should not be allowed out on him own, let alone be involved in other peoples' decisions about money and risk...

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or equally illogical - "the price is right but the currency is wrong" Zim dollars anyone?

What an idiot that guy sounds. If he really believes what he says, he should not be allowed out on him own, let alone be involved in other peoples' decisions about money and risk...

Yet this is the guy that advises people on what to put their property on the market for.

Suddenly makes a lot of sense that transactions are a 3rd of normal.

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Yet this is the guy that advises people on what to put their property on the market for.

Suddenly makes a lot of sense that transactions are a 3rd of normal.

Why hasn't the estate agent thought of the obvious solution? Call for Dr Who! He can take the sellers/buyers to the right selling/price point in history? Or would that cause a rift if they never co-incide :blink:

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Yeah - Property is never wrongly priced, only wrongly timed.

It's like the so-called obesity crisis in the country. In fact there are no over-weight people - just under-height people.

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or equally illogical - "the price is right but the currency is wrong" Zim dollars anyone?

What an idiot that guy sounds. If he really believes what he says, he should not be allowed out on him own, let alone be involved in other peoples' decisions about money and risk...

no, I beleive he is right.

Vendors still think we are in 2007...they price today accordingly.

This is not the market value though, this is typical of asking prices, which as we all know, are not stuck on a sticker on the roof to be processed at the checkout.

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no, I beleive he is right.

Vendors and most EAs still think we are in 2007...they price today accordingly.

This is not the market value though, this is typical of asking prices, which as we all know, are not stuck on a sticker on the roof to be processed at the checkout.

Fixed for you.

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Just seen this gem, post here: http://www.estateagenttoday.co.uk/news_features/Asking-prices-shoot-up-nearly-3-on-Rightmove at 16:20 by Fun Boy Agent, presented without comment, draw your own conclusions as to this EAs mindset.

"In 27 years of EA I have never ever come across a property that is 'overpriced' by Vendor expectation. Although I would be the first to agree that far too many vendors have their timing out by many, many years (even decades) to obtain the price they want. In other words, the price is right but the timing is out."

Do you think a lot of agents think the same?

His comment is silly because money loses it's value over time.

For example, if your house was worth £150,000 now, but you wanted £250,000 for it, but it was believed that it wouldn't be worth £250,000 until say, the year 2035; then the only reason it will be worth £250,000 in the year 2035 is because £250,000 will be worth a lot less in 2035 than it is today due to inflation.

His quote is silly in my opinion, of course people can ask to much for a house. Now is what counts. There is only ever now, the time is always now and the past and future don't exist except ones in the mind either as memories or anticipation.

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Gets to the nub of the problem really. Clearly not all agents are this thick(assuming the quote is not a wind up of course), but you have to wonder whether this guy/gal is saddling their business with marketing costs on properties that they themselves know have little chance of being sold anytime soon.

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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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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