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crazypabs

Online agent House Network collapse

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I liked this comment from one agent who was referring to the seller who lost her 'upfrontary' fee:

'Paid north of £1100 over 9 months ago and not sold! Doesn’t sound like the most motivated seller or the price is way off? Common sense should have kicked in after a couple of months and action taken then, not now as the market starts to fade.'

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" I felt sure they were going to sell, because I was led to believe the cottage would sell within 28 days as advised over the phone, however as time went on there was no personal contact over the phone from the personal negotiator, only emails about market and explanations which went over my head. "

 

Hey Property market genius....they already had your money !

And because you paid your money you stuck with it since .....JULY last year !

Edited by Spindler

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I sold my house with House Network in 2009. The whole point of these operations is that you are paying the minimum fee, for the minimum service. They wont contact you unless someone wants to view. If the seller was not being contacted, it was because nobody was interested, maybe priced too high.

Back in 2009, I think I paid £850 all in. I think I took my own photo's got it on Right move and sold fairly quickly. However was a long time ago. I would still consider this type of selling next time, however since I now live in a village, with a local EA, and an unusual house (in an unusual state of disrepair), I might benefit from some local knowledge / contacts next time. 

I did wonder from time to time, what happened to House Network. I cant see why the business model would fail really, maybe PB became the dominant player. Maybe there is only room for one such operation in the market space. A bit like Ebay for example.

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i think the thing is once someone pays their money they don;t want to write off that investment...and don;t understand even if made clear at the outset this is a low contact platform....its up to you to adjust the price and marketing....

The common accusation is once the online boys have your money there is no further incentive for them...at least the EA's have to sell it to get the commission....but you'll still have all the shennanigans about ...will fly off the shelf.....you'll have to fight them off with a ****** stick...then nothing happens....and you need to lower the price....the EA will tell you that.....at least eventually.....

I am a salesperson (b2B) by profession but a  lot of people are clueless in marketing and selling stuff especially big stuff like houses.....and with the rise in prices they think they are doing you a favour by selling it you full stop....the fact it needs a new roof and a new heating system...how dare you mention that......!

The market has turned and now vendors are going to have to learn a whole new vocabularly....including gazumping which we're going to hear a lot more of..

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1 hour ago, NoGo said:

I sold my house with House Network in 2009. The whole point of these operations is that you are paying the minimum fee, for the minimum service. They wont contact you unless someone wants to view. If the seller was not being contacted, it was because nobody was interested, maybe priced too high.

Back in 2009, I think I paid £850 all in. I think I took my own photo's got it on Right move and sold fairly quickly. However was a long time ago. I would still consider this type of selling next time, however since I now live in a village, with a local EA, and an unusual house (in an unusual state of disrepair), I might benefit from some local knowledge / contacts next time. 

I did wonder from time to time, what happened to House Network. I cant see why the business model would fail really, maybe PB became the dominant player. Maybe there is only room for one such operation in the market space. A bit like Ebay for example.

Not enough house sales.

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At the end of the day as Mitch Feierstein said...property is an asset but its not an asset class....because it lacks the liquidity...

Now that fact above is totally lost on a lot of vendors......whose response would be .....Eh ?

In fact in many respects they have had the best liquidity due to rising prices they have ever had but that and high transaction numbers are in the rearview mirror now....

So property in the UK is even more illiquid than its ever been as these chancers are finding out....in this...

at last.....Deflationary Property Market  

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  • 293 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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