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Another Ea Who Gets It

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From Russell Hicks

Director, Barnard Marcus

To The Times

Sir, Your article, “Home ownership out of reach for average earners” (July 10), shows an ignorance of how prices are established.

House prices are more a result of the availability of loans, than of supply and demand. If lenders continually relax salary requirements, then people will borrow more and, importantly, negotiate less, thus allowing prices to increase. Growing hype and hysteria does the rest and drives prices to unrealistic levels.

Now that some sanity has returned to lending, it is not so much a question that people can’t afford to buy, and more that sellers will have to drop their prices to realistic levels.

There can be all the demand in the world and limited supply but if there’s no money, then there’s no market.

http://www.timesonline.co.uk/tol/comment/l...icle4326103.ece

That last line again, this time in bold:

There can be all the demand in the world and limited supply but if there’s no money, then there’s no market.

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From Russell Hicks

Director, Barnard Marcus

To The Times

There can be all the demand in the world and limited supply but if there’s no money, then there’s no market.

Blindingly obvious except to those in VI mode who have sold their souls.

"Oh those poor poor FTBs now can't even afford a cupboard"

Mr Hicks is not so much EA as http://www.barnardmarcusauctions.co.uk/ ?

Next bear fest on the 29th

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Barnard Marcus have a string of EA shops across the country, don't they? Pretty sure I saw one in London last time I was visiting.

This is quite significant that an EA writes this to the Times and the Times actually prints it. Amazing. It suggests that the EA's are now starting to panic and sales must have hit rock bottom. Remember, in a falling market the EA will still make money as he's paid per transaction.

I think many other EA's are now realising the same as Mr. Hicks.

"Without money from the lenders, EA's are extinct"

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Barnard Marcus have a string of EA shops across the country, don't they?

You are correct Agentimmo.

This is from their auction website (I should have looked earlier....sorry Frizzers)

"Barnard Marcus is part of Sequence(UK) Limited one of the largest national networks of estate agents throughout the country."

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Blindingly obvious except to those in VI mode who have sold their souls.

"Oh those poor poor FTBs now can't even afford a cupboard"

Mr Hicks is not so much EA as http://www.barnardmarcusauctions.co.uk/ ?

Next bear fest on the 29th

Not so sure Bernard Marcus are totally blameless either. Follow the link posted and check the unsold properties. Almost all were bid to just under the reserve. A sure sign a shill was used in the bidding IMO.

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Not so sure Bernard Marcus are totally blameless either. Follow the link posted and check the unsold properties. Almost all were bid to just under the reserve. A sure sign a shill was used in the bidding IMO.

Whats a shill?

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Not so sure Bernard Marcus are totally blameless either. Follow the link posted and check the unsold properties. Almost all were bid to just under the reserve. A sure sign a shill was used in the bidding IMO.

I don't see there's anything wrong with this practice. As long as one is aware that for statistical analysis anything below the reserve price is irrelevant.

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Whats a shill?
A shill is an associate of a person selling goods or services or a political group, who pretends no association to the seller/group and assumes the air of an enthusiastic customer. The intention of the shill is, using crowd psychology, to encourage others unaware of the set-up to purchase said goods or services or support the political group's ideological claims

"Shill" can also be used pejoratively to describe a critic who appears either all-too-eager to heap glowing praise upon mediocre offerings, or who acts as an apologist for glaring flaws. In this sense, they would be an implicit "shill" for the industry at large, as their income is tied to its prosperity.

Source

Sounds like the BBC :lol:

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Whats a shill?

What he said.

Except to add that in an auction scenario the shill is allowed to bid no further than the reserve price.

So bidding starts below the (secret) reserve at a low level to encourage interest. If the highest bid is still below reserve, the property is not going to sell. So the shill makes a higher bid (up to just below the reserve), trying to encourage genuine bidders to bid above the reserve.

Since I understand this practice is no secret, I so no problem in it. Nobody is deprived of a successful purchase at their preferred price, since the shill can only outbid buyers whose bid is already destined to fail.

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Since I understand this practice is no secret, I so no problem in it. Nobody is deprived of a successful purchase at their preferred price, since the shill can only outbid buyers whose bid is already destined to fail.

Often it's just one bidder & the chandelier, or just the auctioneer on his own...chandelier & wall light

The trick is spotting it.

I've known people get bored & mock the auctioneer, though its rare;

but at property auctions po faces reign supreme & await Joe Public clutching his/her rip-off info pack...unfortunately.

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Since I understand this practice is no secret, I so no problem in it. Nobody is deprived of a successful purchase at their preferred price, since the shill can only outbid buyers whose bid is already destined to fail.

Maybe if a shill was not able to be used the reserve prices may be more realistic ?

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  • 399 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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