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Flats In Lincoln Reduced By 10k

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My sister and her partner bought into one of these 50/50 schemes' with a well known Lincoln EA. When I asked her last month how much the properties were up when she bought back in July this year she said from 120K upwards. Just been on the website, they are now starting from 110K. 10K down in less than six months. Just show how much these robbin' B85tard EAs' are over-pricing the market.

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My sister and her partner bought into one of these 50/50 schemes' with a well known Lincoln EA. When I asked her last month how much the properties were up when she bought back in July this year she said from 120K upwards. Just been on the website, they are now starting from 110K. 10K down in less than six months. Just show how much these robbin' B85tard EAs' are over-pricing the market.

It's an estate agent's job and duty to get as high a price as possible. People seem to have this strange notion that estate agents are there to act as honest brokers between the seller and the buyer, and it's not so -- they act 100% on behalf of the seller and 0% on behalf of the buyer. The only "robbing" estate agents are the ones who don't get as high a selling price as they could have done.

Edited by zorn

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It's an estate agent's job and duty to get as high a price as possible. People seem to have this strange notion that estate agents are there to act as honest brokers between the seller and the buyer, and it's not so -- they act 100% on behalf of the seller and 0% on behalf of the buyer.

You imply that estate agents have absolutely no legal obligations or duty of care towards buyers at all; this is simply not the case. Estate agents must adhere to the provsions laid down in the Estate Agents Act 1979 and the Property Misdescriptions Act 1991 in all their dealings with both buyers and sellers.

http://www.dti.gov.uk/ccp/topics1/facts/estateagents.htm

Q1. Are estate agents regulated?

Estate agents are regulated by the Estate Agents Act 1979, which:

· Regulates the conduct of estate agents in the course of estate agency work. It does not cover the letting of properties.

· Lays down the duties that agents owe to clients - such as the passing on of offers, handling money and giving details of charges - and to third parties - such as disclosure of personal interest.

· Gives the Office of Fair Trading the power to issue warning or prohibition notices against those persons whom it considers to be unfit to carry on estate agency work.

Estate agents also have to comply with the Property Misdescriptions Act 1991, which makes it an offence to make false or misleading statements about property offered for sale.

http://www.dti.gov.uk/ccp/topics1/guide/pr...description.htm

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It's an estate agent's job and duty to get as high a price as possible. People seem to have this strange notion that estate agents are there to act as honest brokers between the seller and the buyer, and it's not so -- they act 100% on behalf of the seller and 0% on behalf of the buyer. The only "robbing" estate agents are the ones who don't get as high a selling price as they could have done.

Hi,

I would agree with that. Just as I think a little inflation in the property market per annumn is a pretty healthy thing in broad terms. There is a broader framework of several influences within this basket case we call the uk property market, not just one individual target, we all participate in it one way or another. When hyperinflation hits any sector of an economy, whether that is houses or bread, that is always destructive. History has shown us that, it is the stated (and failed) aim of the BoE. It is difficult to entirely fault one individual who is working within that system of hyperinflation.

Boomer

Edited by boom_and_bust

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  • 338 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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