How far will house prices fall [volume 4]
Discussion
Sheepshanks said:
I've heard people say they won't even look at houses if they're up with an online agent.
Yes - when I put my place up I went with a local high-street agent; mostly because I can't be bothered showing people round when I could pay someone to do it, but also partly because I thought if I went with any of the online players I may as well just stick a big sign outside my house saying, "NOT SERIOUS".As it happens the local place were well worth the money. Their photographer was fantastic, we had in excess of 20 viewings without me having to put in any more effort than it takes to answer a phone call or e-mail with, "yeah, that's fine" and within a fortnight I had five proceedable offers starting at £18k above what I'd expected to get and going up from there.
stuckmojo said:
Estate Agents Foxtons and Countrywide are getting thrashed.
Surely to do with their business model too, but they're normally a bellweather of activity.
They aren't receiving much in the way of sympathy on the Guardian comment section Surely to do with their business model too, but they're normally a bellweather of activity.
https://www.theguardian.com/business/2017/jul/27/f...
FN2TypeR said:
They aren't receiving much in the way of sympathy on the Guardian comment section
https://www.theguardian.com/business/2017/jul/27/f...
https://www.theguardian.com/business/2017/jul/27/f...
Foxtons work well as a sellers agent as they have no morals, but only if you have them on an incentive fee to keep their interests aligned with yours.
anonymous said:
[redacted]
To be fair, there weren't online agents then.Perhaps it's just the British reserve thing of not wanting to appear desperate but one "new-on-the-market" house had photos taken in a different season. The 2 & 4yr old kids had objected to moving initially, apparently. But most others seemed to have no onward plan. We eventually bought a house that was already empty.
loafer123 said:
FN2TypeR said:
They aren't receiving much in the way of sympathy on the Guardian comment section
https://www.theguardian.com/business/2017/jul/27/f...
https://www.theguardian.com/business/2017/jul/27/f...
Foxtons work well as a sellers agent as they have no morals, but only if you have them on an incentive fee to keep their interests aligned with yours.
People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
FN2TypeR said:
I don't live in the area so I haven't had any dealings with them (seemingly thankfully) but that comment section is brilliant - not a single ounce of sympathy, this comment in particular made me chuckle:
People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
Good one People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
I am trying to buy in central London, most buyers are asking full market price and don't want to come down. I'd say about a third of the flats eventually get cut by 10%-20%, but if you offer that to begin with, you get turned down.
On a couple of flats, the agent said the seller was desperate, I made an offer at 10% below each time, and then suddenly it turns out the seller has another offer at asking price, does sir want to get into a bidding war, no sir does not, this isn't 2007.
I accept that sellers can ask for whatever price they want, but with such few buyers, I don't want to be the one that validates the high asking prices by offering that.
On a couple of flats, the agent said the seller was desperate, I made an offer at 10% below each time, and then suddenly it turns out the seller has another offer at asking price, does sir want to get into a bidding war, no sir does not, this isn't 2007.
I accept that sellers can ask for whatever price they want, but with such few buyers, I don't want to be the one that validates the high asking prices by offering that.
montecristo said:
I am trying to buy in central London, most buyers are asking full market price and don't want to come down. I'd say about a third of the flats eventually get cut by 10%-20%, but if you offer that to begin with, you get turned down.
Try outer London!Almost everything we've looked round has been in the same situation: the owner isn't hugely well-off, they've got some way into an extension or renovation project before realising they can't afford to complete it, and now they're sitting in a half-finished house falling behind on maintenance because they spent all the money on the aborted loft conversion/redecoration/bathroom/whatever. What has been done is to such a low standard that you find yourself preferring the unfinished bits anyway. (What is it with these people and acrylic corner baths?)
Now with stagnant London prices on the horizon they want to move to one of the popular commuter towns but don't want to admit they've missed the boat - so put their own place up at an extremely strong price in order to be able to afford the onward step to one of tonker's beloved McMansions on the corner of a main road somewhere leafy.
They spend a few months rejecting anything less than 98% asking price, then realise the market outside London has outpaced their budget, so take the house off the market for a couple of months and relist it another £50k higher. Meanwhile that maintenance they've fallen behind on is starting to turn into actual problems with faulty electrics or conservatories leaking and filling up with water, meaning they're not even getting offers and even the estate agent is admitting, "I'm going to show you round this place, you're going to shake your head and laugh, and you're going to leave saying 'not at any price'." - to the point some of them won't even bother showing you round and make the owner do it instead.
anonymous said:
[redacted]
Had an offer of asking price accepted on a place earlier this year (been on the market 3 months). 3 months later it was quite clear the vendors weren't seriously house hunting, withdrew our offer, house now off the market. People are odd, fortunately our buyer is good as gold and has hung on though thick and thin. Now due to complete next week.
stuckmojo said:
FN2TypeR said:
I don't live in the area so I haven't had any dealings with them (seemingly thankfully) but that comment section is brilliant - not a single ounce of sympathy, this comment in particular made me chuckle:
People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
Good one People didn't vote for Brexit so that estate agents would suffer. It's an unexpected bonus though.
Not sure I totally understand the sneering at estate agents.
They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
DoubleSix said:
Not sure I totally understand the sneering at estate agents.
They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
The EAs around here are staffed only by part timers at the weekend. If you want to make an offer, you have to speak to the 'negotiators' who are only around on weekdays.They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
DoubleSix said:
Not sure I totally understand the sneering at estate agents.
They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
Because in a lot of people's experience they don't actually do anything other than let you put their house on Rightmove. The ones I have dealt with don't know anything about what they are 'selling', have asked me to do viewings when they have been busy, have had open days because they couldn't be bothered to actually do proper viewings. They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
Two out of the three properties I have sold were sold from viewings where the EA didn't turn up and I did the viewings myself.
They used to be the only means to an end and charged a pretty penny for the access. That's changing now since online agents are getting better.
DoubleSix said:
Not sure I totally understand the sneering at estate agents.
They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
I can understand it, more so on here. Not unlike any other commission driven sales person, I supposed. I had a Landrover salesman ask me what I did for a living the other day. Totally rude question. They're usually just young lads and lasses trying to get on in the world like everyone else. They work Saturdays and I often see them in their offices long after I've clocked off.
I can think of a lot of wasters I save my ire for tbh, anyone out doing a job (even a perceived low value add) is ok by me within reason.
We've bought plenty of properties over the years and sold well only 1.
The one we sold they were utterly shocking to the point I made formal complaints to them and then the area manager etc. Sole reason we stayed is we had an offer above asking. We'd never use them to sell again.
As for buying IMHO in the main they have been perfectly fine. It's only when you go and look at a new build sales suite.
These purchases are Berkshire in the main.
The one we sold they were utterly shocking to the point I made formal complaints to them and then the area manager etc. Sole reason we stayed is we had an offer above asking. We'd never use them to sell again.
As for buying IMHO in the main they have been perfectly fine. It's only when you go and look at a new build sales suite.
These purchases are Berkshire in the main.
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