EAs Squeal like that guy on deliverance

mbga9pgf

Few select comments from this months RICS report.

Penrith, Cumbria ‐ Wales
Douglas Farmer
Penrith Farmer & Kidd's PLC
What more can be said? Help!

Wiltshire – South East
J M Buthcer
H W White
The market in my opinion still has another 20% left to reduce before we hit the bottom. That will give a 40‐50% correction in all.


East Yorkshire – Yorkshire and Humberside
Richard J Graves
D. Dunk, Lewis & Graves
With sales down 90% over the past 4 months compared with last year can it get any worse? Probably! The Government should suspend Stamp Duty, abolish HIPs and get the Banks lending again to First Time Buyers. Without some drastic action we're all doomed!

Dorset – South East
Mark Lewis
Symonds & Sampson
Many properties receiving no interest.

Scotland
Paul Taylor
J & E Shepherd
Confidence in market gone. No change likely
for the foreseeable future.

I actually feel for these guys. Imagine how difficult must be to tell someone they have lost 40% of their equity in 2 years...

EA I know is telling people that unless they take a SIGNIFICANT haircut on their prices, then he wont advertise their properties and certainly wont waste cash buy putting their properties on rightmove. He is holding on, but only because he is managing decent volumes as he only holds sellers that are realistic.

fatpig_2

My favourite Estate Agent quote of 2008: (and equally applicable to 2009)

"I wish I'd studied at school and got a few qualifications. Then I might have got a proper job."

:rotfl:

dad-of-4

mbga9pgf wrote: »

Few select comments from this months RICS report.



I actually feel for these guys. Imagine how difficult must be to tell someone they have lost 40% of their equity in 2 years...

EA I know is telling people that unless they take a SIGNIFICANT haircut on their prices, then he wont advertise their properties and certainly wont waste cash buy putting their properties on rightmove. He is holding on, but only because he is managing decent volumes as he only holds sellers that are realistic.

i expect its no more difficult than for the car salesman when faced with a trade in.

PasturesNew

It bites twice as hard if a house was bought as an "investment" or "pension" (don't forget the children.... we did it for the children ...)

It's not quite so hard if you've bought/sold a HOME.

Darth_Marty

How is it good to enjoy estate agents losing their jobs/careers/families/homes when all of the other people in the u.k have a similar threat hanging over their head?

Do you want all conveyancers, builders, developers, cleaners, surveyors etc etc to lose their lives as well? Or is it just estate agents?

Thers a lot of smug bastar ds on these forums.

geoffky

Marty .....slow In The Office This Year? Average Of 3 Sales A Month...ha Ha..they Should Of Stashed Some Of The Fortunes They Took Off People During The Good Times...

Darth_Marty

ha ha geoff mate your showing your ignorance, your average estate agent is merely a worker like you and I, its not like they all claim 1-3% of the sale price is it !!!!!!...i tell you, a little knowledge in the wrong hands is deady....

mbga9pgf

Darth_Marty wrote: »

Thers a lot of smug bastar ds on these forums.

I am not smug in the slightest. I am actually horrified at people losing their jobs, EAs or otherwise. Its a complete waste. However, in the long term, I also think we need this whole messy process to revolutionise Estate Agents. Minimum qualifications. A standardized price setting criteria supported and monitored by the onbudsman. Perhaps a big move towards online agencies and fixed (lower) fees instead of commissions.

However, EAs could help themselves and the market by convincing their sellers that falling prices will achieve sales. Without volume EAs are dead in the water. I know EAs are trying. But until people start getting cut from the front window for not agreeing to drop asking prices, you have to say EAs are nt doing everything in their power to sell properties.

Darth_Marty

mbga9pgf I completely agree with you mate, I think Estate Agents should have a total revamp, like many other industries it must be said, and im all for better qualified/experienced agents too, its a messy part of anyones life so if they can assist and make it less stressful (moving i mean) then its got to be good.

My point is that people seem to be revelling in agents losing their livelyhood....i just dont see why? Its like people are looking for scapegoats.

mean_momma

mbga9pgf wrote: »

EA I know is telling people that unless they take a SIGNIFICANT haircut on their prices, then he wont advertise their properties and certainly wont waste cash buy putting their properties on rightmove. He is holding on, but only because he is managing decent volumes as he only holds sellers that are realistic.

I like the way (well, I don't like the way!) that the agent sticks to his fees, the government sticks to its cut via stamp duty, and the vendor takes the complete price drop. Estate Agencies must have raked in a fortune in the boom years, selling properties that largly sold themselves. Now the work is a lot tougher. The vendor is asked to trim the asking price significantly in order to make the agent's work easier. I feel for any individual agent that is only trying to do his job, but, sorry, I would not want to instruct one for 'quick sale' unless they offered a cut in fees.

mbga9pgf

Well, seeing as most work off a % commission, this is exactly what you are achieving. Sorry love, if you want to sell your house, you are going to have to cut the price. Significantly.

The reason houses arent selling is because FTBs and the banks realized your home as weith every other home was 35% overvalued. Deal with it and cut your price if you are selling. Its not as if you couldnt have benefitted in previous years is it? Dont you get it? You house was only 'worth' 2007 prices in 2007!!! Prices are falling, fast, every day you wait is around a hundred off your equity!!!