Jump to content
House Price Crash Forum
Sign in to follow this  
The Colour

Foxtons Spin

Recommended Posts

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

Share this post


Link to post
Share on other sites

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

Er, because it's her job. Lying is an integral part of the EAs employment brief... ;)

Share this post


Link to post
Share on other sites

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

With 20 buyers per property why make cold calls? At the height of the market in 2004 they reckoned on 5 buyers per property--things must have picked up a little with the cold weather. :lol::lol::lol::lol::lol:

Share this post


Link to post
Share on other sites

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

To help the mortgage approval figures?

Share this post


Link to post
Share on other sites

Yes Angel office sure are busy with their marketing . also received a letter from their lettings department stating they had corporate client looking to "pay an excellent rent" wanting a flat in my area........

and as for EA's lying......my last flat the door got double locked by mistake when my brother went to pick up post.... i had only given EA's 1 key. They couldn't get access but stilled phoned with a "we had 5 viewings this week, and a Mrs Smith loved the flat and wanted a 2nd viewing......."

When i eventually realised what my brother had done........i phoned them and played them along........then told them about the locked door! try getting out of that one you w's!

So don't believe a word they tell me..but new Paris - London Euro link opens next year @ Kings Cross 0.5 miles away so believe N1 will get some interest.

Edited by beenhearingthisforyears

Share this post


Link to post
Share on other sites

Yes Angel office sure are busy with their marketing . also received a letter from their lettings department stating they had corporate client looking to "pay an excellent rent" wanted a flat in my area........

Anyone thinking about buying a BTL had better get in quick to get this "Executive" willing to pay high rent quick. <_<:):D:lol::lol::lol:

Share this post


Link to post
Share on other sites

A friend at work got gazzumped a few days on a property in the Fulham area even though the offer had been accepted by the buyer last week. This was through Foxtons. Apparently they have a reputation for it in the market. I was very surprised by this but guess there is still demand for good houses.

Share this post


Link to post
Share on other sites

Er, because it's her job. Lying is an integral part of the EAs employment brief... ;)

So you think that the bit about only showing property to people who have already started getting financing was a bluff, or them trying to look a bit exclusive?

Share this post


Link to post
Share on other sites
Guest Fiddlesticks

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

Was she trying to bully you into making a hasty offer (or a high one)? Just trying to work out what her agenda is.

Share this post


Link to post
Share on other sites

A friend at work got gazzumped a few days on a property in the Fulham area even though the offer had been accepted by the buyer last week. This was through Foxtons. Apparently they have a reputation for it in the market. I was very surprised by this but guess there is still demand for good houses.

Foxtons effectively encourage gazumping through their website policy. When a property goes under offer, it remains on the website. There is no indication that the property is under offer. So if somebody calls up very interested in it, they can make a higher offer.

Share this post


Link to post
Share on other sites

Was she trying to bully you into making a hasty offer (or a high one)? Just trying to work out what her agenda is.

It was out of the blue - I think I registered with them about 12 months ago and she was just checking if I wanted to look at some properties.

Thing that confused me was that she only wanted people had already applied for mortgage. Thing is I thought most people found a property first and then got a mortgage?

Share this post


Link to post
Share on other sites

I've been renting in a v.desirable location close to the City - there are about 8 EA's in the (less than 1sq mile) area.

There's always letters like this coming through with 'people looking for apartments to rent / buy', or 'we just sold a property just like yours'. It's come that we can recognise the letters by the envelope alone and know to bin them straight away :)

Standard marketing guff.

Share this post


Link to post
Share on other sites

Er, because it's her job. Lying is an integral part of the EAs employment brief... ;)

:lol: : :lol::lol:

20 CLIENTS FOR EVERY PROPERTY !!!!!

Does she honestly expect anyone to believe that!!?

(More like 20 properties for every client !) :P

Estate agents are a whole different breed !!!

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp

Mr & Mrs X cash buyers have desperately been looking for a three bed house in my area the past two years. According to the LR forty have changed hands during that period, and only yesterday I had a leaflet saying Mr & Mrs X cash buyers are still desperately looking for a house in my area. What fussy people they must be. :D

Share this post


Link to post
Share on other sites

phoned Foxtons Angel saying have 1 bed flat for sale or would consider renting it out.

It was like talking to an over excited child at Xmas who had OD's on too much chocolate. They way she spoke of local market ......well phone yourself if you want a laugh!!!

Quote: "Properties from 3 months ago are being revalued as prices are going up!" "Dec very busy, now it is CRAZY. 2 week wait for valuations."

Not enough properties for Corporate clients, although rental market not quite a busy as sales......" End quote

and did i want to put a date in the diary......

love to know if it is new stock coming on that is making them so busy or if they are busy with sales............?

(must admit that the area is v.nice, & when Paris link opens next year it will be even better. the reason i purchased here. have always said can not see good property in this area crashing. )

Edited by beenhearingthisforyears

Share this post


Link to post
Share on other sites

I've been renting in a v.desirable location close to the City - there are about 8 EA's in the (less than 1sq mile) area.

There's always letters like this coming through with 'people looking for apartments to rent / buy', or 'we just sold a property just like yours'. It's come that we can recognise the letters by the envelope alone and know to bin them straight away :)

Standard marketing guff.

I live in Aldgate East - and this is the sort of area I'd like to buy in. Problem is this is one of the only areas of the country that posted any real HPI in jan (+0.8%)

Had to happen to me.

phoned Foxtons Angel saying have 1 bed flat for sale or would consider renting it out.

It was like talking to an over excited child at Xmas who had OD's on too much chocolate. They way she spoke of local market ......well phone yourself if you want a laugh!!!

Quote: "Properties from 3 months ago are being revalued as prices are going up!" "Dec very busy, now it is CRAZY. 2 week wait for valuations."

Not enough properties for Corporate clients, although rental market not quite a busy as sales......" End quote

and did i want to put a date in the diary......

love to know if it is new stock coming on that is making them so busy or if they are busy with sales............?

(must admit that the area is v.nice, i love living here and when Paris link opens next year it will be even better. the reason i purchased here. have always said can not see good property in this area crashing. )

Thanks for the info BHTFY - maybe you spoke to the same girl who called me... I can't remember her name though...

Share this post


Link to post
Share on other sites

We've been keeping an eye on the Angel area for a while and a lot of the Foxtons properties have been on for over a year, the pricing left high and dry by a weak market in 2005.

I would avoid buying and selling through Foxtons if you can. Their business model is geared towards getting an extortionate price out of the buyer to fund higher commission payments from the seller (they charge 2% not 1.5% and justify this cost with wonky photos of fireplace corners and vases of flowers).

It's a business model that works (eventually) for a seller in a strong market, because the market will catch up with an overpriced property. It was not working for Foxtons last year around Angel. They have a lot of costs to cover: flash office, lots of agents, phone bills, wonky photos, those awful minis. Foxtons must be desperate for a better year in London in 2006.

Sensible estate agents can make a living whether the market is going up or down. Foxtons can only survive if the market goes up. It is in their interests to ramp it. I smell desperation.

You'll find that a lot of the properties are on with at least one other agent. These are usually a better bet (and less likely to come across as aggressive), because they are more willing to try to push the price down with the seller and get the sale through.

Edited by geranium

Share this post


Link to post
Share on other sites

It was from this foxton's lady who told me that, and I quote:

"Things are really going crazy, we have 20 buyers for each property on sale."

She also said they had stopped showing houses to people who didn't already have an application for financing either approved or in the pipeline.

Why would she lie to me like this?

So was she offering you a viewing, or a booking with their mortgage rep?

:lol:

Share this post


Link to post
Share on other sites

I like your new avatar, TTRTR. A perfect human manifestation of your future financial situation! :ph34r:

You just love everything about me. If you weren't occasionally rude to me, I'd think you weren't normal..... :lol:

I thought my new avatar was probably a good representation of what people on the forum think of me. :D

Share this post


Link to post
Share on other sites

So was she offering you a viewing, or a booking with their mortgage rep?

:lol:

She asked if I wanted to speak to their advisor about applying for a mortgage. I kind of made some excuses and said that I already had a broker (which I kind of do).

Share this post


Link to post
Share on other sites

Dont forget my prediction;

8 - 10% HPI for London by July 2006 (reported by August / September).

"World real estate, THE new currency".

I dont rule out a UK crash at some point in the nearish future (2007 /8), although difficult to envisage in the absence of a catastrohic sudden jolt.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.