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Converted Lurker

Bored Estate Agent On Channel 4 Forum

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"God it's slow suddenly.The expected slowdown at the end of November has started already. I keep scanning these forum pages looking for a row and all i get is talk of bi fold doors and problems with damp.

God I'm bored"

http://community.channel4.com/groupee/foru...2533#7070022533

I passed our local ones on our high street yesterday, they all just sit there looking out of the window. Makes you realise what a potty business model, it really is the base level of commerce. Good times-sell, bad times-twiddle thumbs. So how can the boredom be relieved? Easy solution that does not require the services of Sir Gerry Robinson. See that listing of houses for sale, ring every vendor and tell them there is a major correction in the pipeleine over the next 2 years, at least a 1% drop each month, if you want to be ahead of the stampede reduce by 15% now. Cannot be too long before we see mass redundancies within agencies, surely they can see the obvious solution? Better to burn out than fade away?

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See that listing of houses for sale, ring every vendor and tell them there is a major correction in the pipeleine over the next 2 years, at least a 1% drop each month, if you want to be ahead of the stampede reduce by 15% now. Cannot be too long before we see mass redundancies within agencies, surely they can see the obvious solution?

EA's can tell vendors to drop their prices until they're blue in the face, if the vendors refuse to do it there's nothing they can do (except terminate the instruction; if they did that with every vendor they'd soon have no houses to sell!).

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The problem is that by encouraging vendors to drop their prices the EA risks losing the instruction to a more bullish competitor EA, to the extent that the poster feels it would actually be better business sense to up his valuations.

Ultimately market forces set market prices, not EAs, so unfortunately it will probably take a few EAs to go to the wall before reality hits home.

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Unfortunately?

:unsure:

I'm not shedding tears for redundant EAs, but it would be a lot better for everyone if the market equilibrium were reached quickly. Sales volumes would rise (leading to fewer EA redundancies) and houses would be much cheaper sooner.

Edited by doogie

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A house just around the corner from us has just sold (last weekend as we know the people). Today a leaflet badly photocopied sheet of A4 was pushed through the letterbox asking for more properties like it.

These agents (next town over) that sold it obviously don't know the area as our street is all married quarters and not ours to sell. :D:rolleyes:

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Thing is though they lie. They lie a lot. I looked at increase in values for NW from 2003-04 and compared this to when someone had bought in 03. The houses/flats are now +20% more than should be--thus EA's are to blame. They deserve to starve, after all they're the ones robbing our own people.

die EA die :angry:

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EA's can tell vendors to drop their prices until they're blue in the face, if the vendors refuse to do it there's nothing they can do (except terminate the instruction; if they did that with every vendor they'd soon have no houses to sell!).

Your so right. And bulls and EAs can keep telling FTBs to get on the boat fast before they miss it till their blue in the faced, but if FTBs refuse to buy there is nothing EAs can do about it except take them off their lists, and if they do that soon they have no customers to sell their houses to... which may be why, after terminating my relationship with an EA I was blissfully free of their emails in my in-box for 3 weeks... and then they were back... It was like a dog that follows you home and won't leave!

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Your so right. And bulls and EAs can keep telling FTBs to get on the boat fast before they miss it till their blue in the faced, but if FTBs refuse to buy there is nothing EAs can do about it except take them off their lists, and if they do that soon they have no customers to sell their houses to... which may be why, after terminating my relationship with an EA I was blissfully free of their emails in my in-box for 3 weeks... and then they were back... It was like a dog that follows you home and won't leave!

There is no point in agents regarding their shop as a gallery, they can either re-educate their vendors or perish. I`ve got a pyramid diagram somewhere showing how much extra revenue is generated by reducing prices it is quite alarming.

Sales has been my working life in one form or another, these guys have to get out of their comfort zone and start asking their vendors some difficult questions, beats job seeking.

Edited by Converted Lurker

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There is no point in agents regarding their shop as a gallery, they can either re-educate their vendors or perish. I`ve got a pyramid diagram somewhere showing how much extra revenue is generated by reducing prices it is quite alarming.

Sales has been my working life in one form or another, these guys have to get out of their comfort zone and start asking their vendors some difficult questions, beats job seeking.

I quite agree. But my recent experience was that the EAs seem quite incapable of adjusting to the current market realities. Back in May/June (before I found HPC and got some education about the housing market) I was looking to buy in Warwickshire. Having sold and moved to the area I was a cash buyer. In one agency I heard a member of their staff explaining to a complaining seller, dismayed that her house was just not moving, that "this is the worst summer for eleven years". In the circumstances they should have been all over me - but not at all. They maintained a quite relaxed attitude, even a certain haughtiness when I offered the opinion that their stock was simply overpriced. ("It's the market" was their usual reply, an fact I hope they will come to learn the real meaning of as prices fall over the next years.) Few made any effort to chase me up, even when one of the houses I looked at dropped in price by 17% (I found this out myself, it's still on the market 4 months later). It seemed as if they simply could not change from the minimal effort they had got used to putting in over the previous nine years. I think the psychology of change, among agents as well as sellers, means that (abrupt economic shacks apart) the market winds down quite slowly. As I've read several times on this site, it is the repeated disappointment of numerous false dawns that gradually wears down bullish optimism.

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There is no point in agents regarding their shop as a gallery, they can either re-educate their vendors or perish. I`ve got a pyramid diagram somewhere showing how much extra revenue is generated by reducing prices it is quite alarming.

Sales has been my working life in one form or another, these guys have to get out of their comfort zone and start asking their vendors some difficult questions, beats job seeking.

I agree that Estate Agents dop need to speak to their customers about dropping prices to the market conditions but how hard is it gonna be when get the SPIN/BULLSH|T from RICS, NAEA, Government and VI's talking the market UP!!!

Once this government get found out (for the false economy), and it all falls apart THEN we can drive the prices down! They are doing it the hard way and its going to to be all these that will pay the highest price for this fiasco. Plus us with high interest rates and higher Income tax.

If you don't look at a problem, its goes away.... apparently!! MY ASS!!!!

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As I've read several times on this site, it is the repeated disappointment of numerous false dawns that gradually wears down bullish optimism.

Death by a thousand cuts. Or Chinese water torture.

This is the reality of a housing crash.

A quick drop of 30% would do us all a favour, but we're going to endure years and years of watching homeowners clutching at straws, while their wealth and aspirations evaporate.

Just be glad we're on the outside.

Edited by BandWagon

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  • 301 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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