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Smell the Fear

An Ea With A Conscience?

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Shelter / Douglas and Gordon

An EA who wants to raise awareness of the impact of poor housing and the fact that

"there is unmanageable gap emerging between those at the bottom and those at the top of the housing ladder."

Sounds like a call for a crash!

Perhaps those low volumes are really starting to bite into profits? :lol:

It could be, but I know of at least one EA who wants the crash to happen soon. He's wound down his business until the crash is over with. He obviously would rather there be no crash, but he's been in the business over 20 years and can see the signs, so's cutting his costs at present and riding it out. All he's doing now is managing a few Lettings, he won't take on any sales as he says that they cost him more than he can make back at the moment.

He would certainly want the crash to move on at a quicker pace than it has done so far.

He also told me that a lot of agencies were almost certainly running on a loss, if you advertise a house/flat for more than 12 months the chances are the fee payable on completion would not cover costs incurred. A lot of agents are doing this st the moment, I have seen the same group of houses in the local paper and on right move for nearly 2 years. Where as the larger chains of EA's can ride this out by making redundancies and negociating advertising costs, many smaller ones will go under if they don't prepare.

When I initially talked to him about the possibilities of a crash I just assumed he'd say 'noway!', but he seemed even more convinced of it than I was.

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I believe this was the London EA who appeared on the Steve Wright Show on R2 who said there was a shortage of properties for sale in London.

Came across as a nice guy. Always the ones to watch.

btp

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I believe this was the London EA who appeared on the Steve Wright Show on R2 who said there was a shortage of properties for sale in London.

Came across as a nice guy. Always the ones to watch.

btp

Is he trying to spook would-be buyers? "Look at the horrible conditions these poor people live in - house prices only ever go up, if you don't get on the ladder now you never will!".

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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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