Estate agents always positive!

Whenever I ring up an estate agent in the areas I want to move to (predominantly Lincs or Norfolk) they often say, on enquiry, that "the market is truly ferocious at the moment" or words to that effect. Whenever I enquire about a specific property, ten to one I will be informed that "they've already had considerable interest in the property".

Is all this just so much hype by estate agents? They say these things even when the evidence of my RightMove shortlist is that many, many houses have not sold for months.

MM

Reply to
Mike Mitchell
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In message , Mike Mitchell writes

Could be hype, or could be correct.

When you ask about the specific property, having watched it not sell for a few months, it is likely that many other people have done the same.

I used to find that some houses would generate no interest for ages then, all of a sudden, everybody wanted them. It seems to be a function of time and asking price in a rising market.

Reply to
Richard Faulkner

Pinch of salt time ?

Dave

Reply to
Dave Stanton

The cynical truth of an estate agent is that their intention is to have you make decsions more quickly than you otherwise would. Rush, rush, rush. Buy, buy, buy.

Reply to
BigBird

Oh I dunno, I wish that solicitors and conveyancers rushed around at the same rate of knots!.....

Reply to
tony sayer

This is one thing which is not possible. If an agent convinces you to buy something that you probably dont want, he/she risks you waking up one morning and changing your mind - in the 8-12 weeks it takes to buy a house, there is bags of time for this to happen.

If anyone ultimately buys a house which they initially felt pressurised to offer on, I can only suggest that they actually wanted it - whatever they might say about the vendors or the agents etc.

Reply to
Richard Faulkner

Of course it is.

You misunderstood, I never mentioned or intended such a thing.

It does not take 8-12 weeks to exchange contracts.

A different topic entirely.

Reply to
BigBird

In message , BigBird writes

No it isn't - everyone is free, and has plenty of time, to change their minds and make a free decision.

"The cynical truth" "decisions more quickly" "rush buy"

What on earth did you intend then?

In 17 years as an estate agent 6 weeks is quick, 8-12 weeks is average, and longer is not unusual. Source: approx.: 2000 house sales.

Is it? If so, the fact that agents rush and hurry you, to do something you actually want to do anyway, is no bad thing - is it?

Reply to
Richard Faulkner

You say you are an estate agent yet imply you don't help people come to decisions in a timely manner. You wouldn't have passed probation in my last company.

Well first off the comment was aimed at intelligent adults who could discern the gist from the flipant additions.

Secondly if you don't understand the concept of decision making in sales perhaps you have been in the wrong business for 17 years.

For example agents were encouraged to identify suitable applicants and encourage them view a house at the earliest opportunity, as is obviously the case with the OP. Getting a viewing puts your house on their list and establishes a relationship. Simply handing over a ream of details doesn't.

Could have been a lot more sales if you had helped to shorten that pipeline by a couple of weeks.

Maybe that's the difference , in my company agents were encouraged to help the process from viewing to offer to exchange along whereas the culture in your office is to sit back and keep your fingers crossed I take it.

My source: 12 years, several hundred agents and senior mangement, though in truth the concept is explained to every new agent on their induction course giving them a 17 year headstart on yourself.

Well make up your mind, first you say it doesn't happen now you are trying to justify it. Perhaps you shouldn't rush your decisions. Try sleeping on it before you reply.

Reply to
BigBird

You sound like a very angry person, BigBird! Is there any need for this attitude? Richard and others were only trying to put their point of view across. I don't think there's any call for this kind of response, you know. By the way, it's your turn to get the drinks in, so stop pretending you didn't get paid this week!

MM

Reply to
Mike Mitchell

Add to that Mortgagees:

In the UK - time to receive mortgage offer from date of application - 2 months In Australia - 24 hours

Time to complete a purchase:

In the UK - three months In Australia - One week

Why does it take so much longer ?

Reply to
warwick

You get me wrong then. I am not in the least agitated wrt this matter. Try reading it again with that knowledge and I'm sure you will find it possible.

I think you are reading something into my response that is not there. I'm sure it is something that happens often on usenet.

Richard, IMO was being deliberately contradictory to the point of contradicting himself.

Now I have no intention of getting in to a flame situation but rather than just say "Richard you're talking nonsense" and leaving it at that I thought I would put my opinion into context.

We have both done so. Matter closed AFAIAC.

I didn't, I only get paid at the end of the month. I'll have to put it on the tab.

Reply to
BigBird

I can't think of anyone I know who exchanged contracts in less than 8 weeks. My first house was offer accepted in April and exchanged contracts in November. God knows how it still went through at the original price, given house prices had risen 30K during that time. My last house was probably the average 10 weeks.

Christian.

Reply to
Christian McArdle

Same here, think we put the offer in and it was accepted in early January, but couldn't exchange for well over a month, & completion was late march IIRC.

Biggest delay was the mortgage - 1st time buyer self-certing with a £200k mortgage seemed to blow a few gaskets with the Halifax & it had to be rerouted via head office for approval... Second biggest delay was continual waits for information from the vendor's solicitors! Mine proceeded with a speed that I have never seen before from a Solicitor... Vendor kept threatening to pull out, but of course she didn't because I suspect I was the only offer on the table without a chain.

Funny thing was that remorgage with IF (which is a subsid of Halifax) proceeded without any pain or delay.

-- Richard Sampson

email me at richard at olifant d-ot co do-t uk

Reply to
RichardS

Nature of the beast, a sales person in a market making role will always be positive about the market (I'd be most upset if the agents selling my product weren't upbeat and positive about it!!)

And of course, it is probably true. House prices are still rising, according to various released statistics. This only happens in a bouyant market, where a purchasor fears that they will lose a property if they walk away looking for a "better" one (cheaper, more bedrooms, different location, whatever tickles a purchasor's fancy).

Interest in a property doesn't necessarily translate into accepted offers. Vendors might have stuck the property up at the highest valuation that they received and can afford to sit and wait for the right offer, turning offers below asking price down.

-- Richard Sampson

email me at richard at olifant d-ot co do-t uk

Reply to
RichardS

Hey! This is Britain we're talking about here! Nothing works here, surely you know that! Britain is probably the most inept, incompetent country in Europe, if not the entire Western world. We are incapable of "doing" or "planning" anything properly or in a timely fashion. We work the longest hours in Europe, yet our productivity is abysmal and our standard of living far worse. We are a nation of dreamers.

Now you know!

MM

Reply to
Mike Mitchell

You can't. This is the bus station. You have to go up to that counter and pay for the tea in cash. Mind Merry Fred! He's already had a few, so don't give him any sugar lumps. He'll only try and dose the meths and think it's Blue Nun.

MM

Reply to
Mike Mitchell

Yes, I think the next time I sell I shall consider putting the house on the market well before I would expect to get a buyer, maybe up to a year in advance. If I did sell immediately at a very high price, then it's quids in for me! On the other hand, if I can wait almost indefinitely, depending on the market (which *is* still rising, albeit at a slower rate), then the property would slowly become more affordable as the months passed.

MM

Reply to
Mike Mitchell

In article , Mike Mitchell writes

Dunno... ever dealt with a French estate agent?......

Reply to
tony sayer

Last time I tried that was in the late 80s, wanted 54k got offered 49k and turned it down. 12 months later the house was still for sale and 24 months later I had reduced the price to 25k still with no sale.

Sold it 2 weeks ago for 94k though so at least it is finally gone.

As you say if you can wait indefinitely fine but it is still risky.

Andy

Reply to
me

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