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flash harry

Ea Not Taking Manchester Cc Properties Onto Books

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Hi All,

I was in a popular Manchester city centre estate agents yesrday when I overheard a coversation an estate agent was having with a person on the telephone. The EA was advising the person that they were not taking on any city apartments from the green quarter becuase they were currently 'under valuing them'. The person on the phone did not understand 'EA speak' so asked what this meant. The reply,

"we are currently valuing properties from the green quarter at less than the price you probably paid for it becasue the area is not as well known as other city centre areas yet. If we placed you on our books the flat would lie there a year wasting your time and ours. If I were you I would rent it for the time being. You'll make your money in the end, you just have to wait a bit"

Considering the amount of flats coming onto the market in manchester over the next 18 months, this may not be the best advice.

What do you think?

FH

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I have done similar things in the past. Maybe it's not the best advice, but it's better than wasting an hour going round, giving them an honest opinion and then getting a mouthful of abuse for undervaluing their 300 sq ft penthouse apartment.

Or even worse taking it on, getting one call every month and knowing full well that the caller is either completely stupid (in which case they goo on to make an offer which will lead to a down-valuation), or they're going to offer exactly what the place is worth, in which case I'm going to get an earful from the vendor and a straight "get lost".

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This was posted a few days ago.

Anyway, it's a nice way of telling people that there's a complete glut of property, and they've got no hope of selling the place for anything like the price they paid 2 years ago.

Good news indeed...

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i like the term "under-valuing" - implies that it is really worth lots but for a short period only there is a need to show a different value

it would be nice if they said they were 'valuing correctly which may cause some offense to the venodr'

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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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