EAs Squeal like that guy on deliverance

carolt

Darth_Marty wrote: »

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.

I think people have very little sympathy with EA's because they are widely seen as incompetent, unprofessional, even dishonest in some cases, who, earned huge amounts in the boom years despite having - in most cases - zero qualifications. If they failed to put anything by or to improve their level of service, then they have to expect to suffer in the lean times.

As someone who has been on the receiving end of appalling lack of professionalism (and downright dishonesty) from local EA's, in the past, when it comes to buying, I shall give my business elsewhere - most properties are on with several EA's at the moment.

If that means some go bust, whose fault is that?

Darth_Marty

Im all for the worst offenders going bust, thats what happens in any recession isnt it, and if it only leaves the better more professional organizations then at least some good has come from it. But thats not what will happen in reality, the bigger companies who employ the 18 year old school leaver will have got rid of all the low paid unqualified estate agents and when they come out of this lean time they will merely hire more.

And im not defending all estate agents either, its just that people seem extremely quick to brand all e.a's as con men when like any industry thats just not the case.

fatpig_2

Darth_Marty wrote: »

, its just that people seem extremely quick to brand all e.a's as con men when like any industry thats just not the case.

Very true. Only 99% are crooks.

Really2

mbga9pgf wrote: »

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.

How the hell can an EA get there customer to sell their property lower than what they want for it?

A property selling for £20-30K less makes little differenct to an EA's fee but it does to the vendor.

Price drops lie soely at the vendors door. High market prices now are by greedy vendors not EA's (who are fairly desperate for sales).

mbga9pgf

As I have said, drop them from the front window/rightmove. If its costing them money to advertise, ant the EA knows it wont sell, he is reducing overheads.

I may want 1 million to sell my T reg volkswagen, doesnt mean I will achieve that price does it? The EA is the one person who can advise the poor, naive (and greedy) vendor that they are unrealistic with price.

Get them out of the windows. If they cant advertise on rightmove in a market like this they will never sell, especially at the mo. They can do this by a death from a thousand papercuts (lots of little drops) or one big one, which gets peoples attention (Especially mine with a large deposit, no chain and guaranteed lending). Until prices hit 2002 averages or a can make a similar offer, that deposit is staying with me.

Really2

mbga9pgf wrote: »

As I have said, drop them from the front window/rightmove. If its costing them money to advertise, ant the EA knows it wont sell, he is reducing overheads.

I may want 1 million to sell my T reg volkswagen, doesnt mean I will achieve that price does it? The EA is the one person who can advise the poor, naive (and greedy) vendor that they are unrealistic with price.

Get them out of the windows. If they cant advertise on rightmove in a market like this they will never sell, especially at the mo. They can do this by a death from a thousand papercuts (lots of little drops) or one big one, which gets peoples attention (Especially mine with a large deposit, no chain and guaranteed lending). Until prices hit 2002 averages or a can make a similar offer, that deposit is staying with me.

Do you not think EA's tell some people they will not take on a property if they think the price is so high?

You seem to have it all sorted why don't you open one up, sounds easy.:rolleyes:

mr_jetlag

mbga9pgf wrote: »

As I have said, drop them from the front window/rightmove. If its costing them money to advertise, ant the EA knows it wont sell, he is reducing overheads.

I may want 1 million to sell my T reg volkswagen, doesnt mean I will achieve that price does it? The EA is the one person who can advise the poor, naive (and greedy) vendor that they are unrealistic with price.

Get them out of the windows. If they cant advertise on rightmove in a market like this they will never sell, especially at the mo. They can do this by a death from a thousand papercuts (lots of little drops) or one big one, which gets peoples attention (Especially mine with a large deposit, no chain and guaranteed lending). Until prices hit 2002 averages or a can make a similar offer, that deposit is staying with me.

In fact, an estate agent is MORE likely to push for a lower price if it means achieving a sale as opposed to an independent buyer on a property website. This is because they need to keep making sales even if it means losing out on a few percentage points of commission.

The main reason asking prices haven't fallen IMO is denial on the buyer's side more than the agents. There is always a lag between drops in the average sale price (what you see in the nationwide / Halifax numbers) and the "window price" which the agents can do little about.

Also because a seller usually lists with multiple agents there is a prisoner's dilemma in that no agent wants to be dropped due to being the first to give his client a reality check.

Really2

mr_jetlag wrote: »

.

The main reason asking prices haven't fallen IMO is denial on the buyer's side more than the agents. There is always a lag between drops in the average sale price (what you see in the nationwide / Halifax numbers) and the "window price" which the agents can do little about.

It is the same reason why prices went up, people wanted to pay asking price or more to secure a house. It was not EA's putting the prices up it was the demand of mad buyers (just like any other business)
Put as usual a skap goat as to be found rarther than looking at the actual problem which is greed and human nature.

mbga9pgf

Really2 wrote: »

Do you not think EA's tell some people they will not take on a property if they think the price is so high?

You seem to have it all sorted why don't you open one up, sounds easy.:rolleyes:

Having a look on RM, it doesnt look as if nutty prices hve been turned away.

Out of interest, what offers under are you considering at your EA? And at what level below aking are sellers accepting offers?

Or is the problem no offers in the first place?

It is the same reason why prices went up, people wanted to pay asking price or more to secure a house. It was not EA's putting the prices up it was the demand of mad buyers (just like any other business)
Put as usual a skap goat as to be found rarther than looking at the actual problem which is greed and human nature.

completely wrong I am afraid. Vendor A goes to EA B, who reckons they can sell it in a rising market for X thousand. Then goes to EA C who reckons he can get X + D thousand. Which EA will the seller go for?

There NEEDS to be a standard valuation model for housing based on historic prices, NOT what an unqualified estate agent reckons he can fob a hapless buyer with. EAs should be selected for other criteria, such as % fees, quality of service and leaderboards constructed by the onbudsman.

I am sure all those EAs that benefitted from % comissions on trebling house prices over three years must have been beside themselves!

Also because a seller usually lists with multiple agents there is a prisoner's dilemma in that no agent wants to be dropped due to being the first to give his client a reality check.

well, dont worry, they will be back when reality comes and bites them hard (house prices down another 10% say). Much better to be honest with your clients than giving false hope surely? Who are they likely to come back to? the EA who said it wasnt going to sell at the old level, or the EA who reckons they can shift it at a now rediculous price and risk further price falls as a result of a delayed sale?

mr_jetlag

mbga9pgf wrote: »

There NEEDS to be a standard valuation model for housing based on historic prices, NOT what an unqualified estate agent reckons he can fob a hapless buyer with. EAs should be selected for other criteria, such as % fees, quality of service and leaderboards constructed by the onbudsman.

Totally agree the estate agents profession needs better regulation. What I don't agree with is using historic data to limit valuations - by this argument, developeres would never agree to invest in depressed / regeneration areas because you would remove the "gentrification" effect by suppressing house prices.

House price inflation has many villains - greedy developers, greedy homeowners, greedy agents - but one cause (greed!) I think most people agree that the bubble has burst and that we will see a return to the long term averages. As a homeowner who bought in 2005, I am a little worried about this, but recognize this will benefit me in the long run. The losers will be BTL investors, the EA industry, and anyone who sought to take advantage of the bubble but got in too late.