House prices..

Stinky said:
of course the vendors have nothing to do with house prices at all :rolleyes:
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I'm of the opinion that the Estate agents are the ones that compete for business by convincing vendors that they can attain ridiculous above market prices in the first place :(

I'm sure there are some decent agents around that don't go for all the underhand tactics - they will be the ones that survive any fallout quite easily by way of reputation I would think. But as for all the dodgy wide boys with their slick hair and flash cars - I'll partake in the Schadenfreude thank you very much :)
 
Solari said:
I'm of the opinion that the Estate agents are the ones that compete for business by convincing vendors that they can attain ridiculous above market prices in the first place :(

I'm sure there are some decent agents around that don't go for all the underhand tactics - they will be the ones that survive any fallout quite easily by way of reputation I would think. But as for all the dodgy wide boys with their slick hair and flash cars - I'll partake in the Schadenfreude thank you very much :)
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you would be supprised at how many properties are put on the market overprices by the vendors. a lot of properties i have taken on recently have put tere own asking price on it! above what i have recomended.

maybe like you say i am working for one of the ones that goes on reputation. this shows as we are still saying. with others around us going out of business and closing offices.
 
seeing all these reports about it being harder to get mortgages etc etc, and as my current mortgages fixed term period is coming to an end (in November) would it be wise for me to begin looking for alternatives now rather than waiting till nearer the time?

I'm hoping that cos I have had this mortgage 2 years now and have been paying it etc will count in my favour when shopping around in the next few months, am I right in thinking that?

Valve
 
valve90210 said:
seeing all these reports about it being harder to get mortgages etc etc, and as my current mortgages fixed term period is coming to an end (in November) would it be wise for me to begin looking for alternatives now rather than waiting till nearer the time?
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The reports I've read in the Sunday papers etc have recommended arranging mortgages 6 months in advance - and act fast! So yes, now's the time to start looking. There's little to no chance of interest rates going down in the next 6 months imo anyway so you probably won't lose out by agreeing something now.

valve90210 said:
I'm hoping that cos I have had this mortgage 2 years now and have been paying it etc will count in my favour when shopping around in the next few months, am I right in thinking that?
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Probably not, but if you'd have missed a payment then you could be in serious trouble. When you arrange your next mortgage you'll have to go through all the credit check process again blah blah.
 
Stinky said:
you would be supprised at how many properties are put on the market overprices by the vendors. a lot of properties i have taken on recently have put tere own asking price on it! above what i have recomended.

maybe like you say i am working for one of the ones that goes on reputation. this shows as we are still saying. with others around us going out of business and closing offices.
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Maybe they have re-mortgaged and need to get more than the average price.

I for one don't believe that you would tell people to list it for less, you knew in the financial climate that mortgages where easy to get and people would pay it.
Now people are listing houses of what they are really worth at what the potential customer can afford from there pay packet.
 
Stinky said:
no but never said i was....
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You clearly feel your vendors should take your opinion as if you are, when in reality you are an estate agent who is more interested in a quick sale than maximum money becuase there comes a point at when slightly less comission now is a better prospect for you than the *chance* of higher comission in the future.
 
[TW]Fox;11805848 said:
You clearly feel your vendors should take your opinion as if you are, when in reality you are an estate agent who is more interested in a quick sale than maximum money becuase there comes a point at when slightly less comission now is a better prospect for you than the *chance* of higher comission in the future.
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so as you clearly know how i do my job care to explain how i value a house?
 
I'm sure it will take a few years for people to get over the ever increasing house price mentality, and the 'stick your own price on it' thing which excasserbated the whole credit bubble.

A few years of recession and hard times and sentiment will change in half the time it took to build up to these silly levels that we saw right up until christmas or so last year.
 
Stinky said:
so as you clearly know how i do my job care to explain how i value a house?
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You'll pick a price which is the best balance between predicted time on the market and acceptable level of commission for yourself and meet your sales targets. You wont want to sell it at £X if £X would take 9 months to acheive and you could get less than £X but sell it in 3 months.

Whereas a professional valuer will tell you what a house is actually WORTH, not what it should be sold at to maximimise efficient returns for the estate agent.

Remember, the vendor is most concerned with getting the right amount of money for their house, whereas the estate agent is concerned about meeting the targets so that one day, he may be able to get a branded Mini Cooper rather than the Mini One he starts off with.
 
Jono said:
I have savings with B&B - should I be worried?
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why take the risk? move it to a stronger bank.

if the worst does happen (unlikely) then there is no guarantee that you will get your money back - the compensation scheme has never been tested and there isn't very much money in the compensation fund - the gov. can also change the rules retrospectively whenever they like.
 
[TW]Fox;11805931 said:
You'll pick a price which is the best balance between predicted time on the market and acceptable level of commission for yourself and meet your sales targets. You wont want to sell it at £X if £X would take 9 months to acheive and you could get less than £X but sell it in 3 months.

Whereas a professional valuer will tell you what a house is actually WORTH, not what it should be sold at to maximimise efficient returns for the estate agent.

Remember, the vendor is most concerned with getting the right amount of money for their house, whereas the estate agent is concerned about meeting the targets so that one day, he may be able to get a branded Mini Cooper rather than the Mini One he starts off with.
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Yes i am very keen on buying myself a mini cooper. its my goal in life. also i dont care about anyone but myself. as long as i make money! im willing to rip anyone off. (this is what an estate agent should sound like? correct fox?)

well i value properties by comparing to others that are currently available vs others that have currently sold. (taking into effect the condition and extras this one may have)

our job is to make the vendor as much money as possible. and that is what we do.
 
[TW]Fox;11806044 said:
No, thats your stated aim - your actual job is to maximise shareholder value etc.

Just as a car dealers job is not to make happy customers, its to maximise revenue.
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That is the way i work! to make my vendors as much as possible!!
 
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