EA dirty trick?

meanmachine_2

I'm not looking to buy now, or in the next few years now, but I do keep an eye on my local market. This is N Essex, and it does seem very slow. But that could be a local anomaly, seeing as how Rightmove says property is "flying off the shelves" *ahem*.

Anyway, a live on a long road. Two very desirable properties have been on the market now for around 6 months. They've dropped in price by around 5K, nothing more.

Surprised they haven't sold in this "spring bounce" *ahem again*, but suddenly, the other day, a house next door to one of those for sale has a sold sign outside, with a rival agent. Now this "sold" property has never been on the market. It was never for sale, and yet, a big sold sign has miraculously popped up, in prime view, just before you head into the town centre.

Now doesn't this strike you as odd? Surely agents aren't putting sold signs in their own, or their friends' front gardens, are they? Also, isn't there a law about these types of shady practice?

Just wondered whether any of the EAs on here are aware of this type of behaviour...or worse!

cattie

Missed you around meanmachine & wondered what had become of you.

It may well be that the vendor of the house didn't want a for sale board up, but agreed to a board when the property had sold.

This is what I did when I sold my last property & intend to do the same when I put this house on the market next year.

I know other people who refuse to have for sale boards, not wishing their neighbours to know their business till the deed is done dusted.

robwend

i didnt have a for sale sign up neither, as its a depressing thing to see up if your on the market along time. thankfully i sold on week 4 but it is a choice thing, i was asked if i wanted a sold sign also. its for there benfit really gets them noticed. thats why i had to pay 1.5% instead of 1.25% coz i wans t promoting there company

Jorgan_2

Correct, fly boarding is illegal and it can be quite expensive with the fines imposed upon the agents. It isn't that common.

How do you know the property has not been up for sale? Some people like to take the low key approach when it comes to selling, no board, adverts in the paper or even displayed in the agents window.

I recently sold a property for a client who needed a quick sale and agreed a sale whilst on the measure up to an investment buyer - no board, no advert in the paper or web site.

meanmachine_2

Could have been a no-boarder sale, except...these people only advertise on Rightmove, don't have their own separate website, and I've not seen it advertised anywhere.

It struck me as odd, given that the two other (identical) properties haven't shifted in such a long time. Still, maybe this one had been up for sale even longer.

IN_LIKE_EVERYONE_ELSE!

Hi Mr Mean, perhaps a house actually sold in Essex!! Probably a repossession, which are going through the roof.

All the best.

ILEE

GingeG

LOL

Meanmachine is back wondered where you were. And its obviously time for your one man campaign to bring down house prices AGAIN!!!

Good Luck

PS Surprised Deemy isnt posting his usual about house prices crashing etc etc etc

meanmachine_2

No, I don't think house prices are going to crash....yet. As I've said a few times on here, I think prices will keep going up until they hit the same (un)affordability levels as in 1989. We've still got at least 10-15% to go until that point is reached. After that, well, who knows?

What I do know is that interest rates globally appear to be rising sharply. So I just hope you've taken out one of these 10 year fixes, cos it looks like we could be heading back to "normal" interest rates in the next few years.

But again, my predictions are about as reliable as everyone elses on here.

You make your own decisions based on research and gut instinct. Mine tells me something nasty is afoot. Yours tells you otherwise. We'll see who's right. But I won't be crowing if I'm proved right. Why would I?

silvercar

I think prices will keep going up until they hit the same (un)affordability levels as in 1989.

In my area prices are double what they were in 1989!

meanmachine_2

silvercar wrote:

In my area prices are double what they were in 1989!

Yes, but interest rates were much higher.

Brits are very stupid when it comes to personal finance. The ONLY thing they look at are the monthly repayments. Their brains can't possibly understand what low wage inflation/interest rates really mean.

rach29

That's odd, Where I live in Essex houses are flying off the shelves! Some even before the for sale board goes up