Don't trust estate agents, what should we do?

[Softus]

If you think estate agents do not benefit us all, then why do you think that so many of them are able to sustain businesses, given that nobody is obligated to use them?

Nobody is obligated to use them but they are the conventional method of selling a house.

OK. That's not exactly new information.

They are unregulated and on commission...

Yes, like any agent, and like any shop. What exactly is your point?

...and working practices are often criticised.

Jumping on a bandwagon? Is that what all this has been about? The subject of estate agents pops up, and you think it's an opportunity to have a pop at someone who has a brother who is one?

Personally I'd rather sell my house on ebay.

Hmm. Have you ever sold a house? If so, did you sell it on eBay?

 

[Trazor]

They are unregulated and on commission, their morality and working practices are often criticised.

I think we have already sussed the banks..............

 

[anobium]

Softus wrote

Surely they're all professional?

You mean like a car salesman? anyone can set up as a estate agent, qualifications are not necessary, now if you are talking about a chartered surveyor who also sells property, that is a different matter.

 

[Softus]

Surely they're all professional?

You mean like a car salesman?

I suggest that you gen up on the meaning of the word "professional".

In the most popular usage it means "does it for a living", i.e. not an amateur.

anyone can set up as a estate agent, qualifications are not necessary

Quite so. And by that token such a person is a professional.

now if you are talking about a chartered surveyor who also sells property, that is a different matter.

Of course I'm not. None of the posts made by anyone on this topic is referring to a chartered surveyor.

 

[JohnD]

it is well below what the family needs to clear the debts and well below what is the 'worth' of the assets.

What is an asset worth? It is worth what someone will pay for it.


How much you "need" has nothing to do with what the house is worth.

 

[tim west]

Personally I'd rather sell my house on ebay.

What would be the postage?

 

[Softus]

What is an asset worth? It is worth what someone will pay for it.

Strictly speaking of course you're right, but market value becomes warped in crashed markets. We're all "worth" less than we were 12 months ago, but it's only a problem when we're forced into selling.

How much you "need" has nothing to do with what the house is worth.

That's not entirely true though.

For example, most people take out a mortgage for an amount based on the market value of the property at the time of purchase.

For this reason the 'debt' commonly has a relationship to that value, i.e. it's less. When things crash, the debt can be more, and the OP clearly meant that worth of the house before the market crashed.

 

[Softus]

Personally I'd rather sell my house on ebay.

A tirade of abuse.

Could you put down, for a moment, the weapon you're forlornly wafting at Thermo, and explain how you sold your house without using an agent?

It might help the OP.

 

[JohnD]

How much you "need" has nothing to do with what the house is worth.

That's not entirely true though.

I think it is.

If you bought a house five years ago for £100,000, and four years ago it would have fetched £120,000, and three years ago it would have fetched £145,000, and two years ago it would have fetched £170,000, and one year ago it would have fetched £200,000, and today it would fetch £120,000, in what way is the value of your house affected by your debts? You might have started out with a mortgage of £80,000, and you might later have taken out secured loans of a further £100,000 and spent the money of fast women, loose cars and holidays in Florida.

And which of those prices is the "correct" one?

 

[Deleted member 105431]

http://www.sellmypropertydirect.co.uk/

 

[Softus]

If you bought a house five years ago for £100,000, and four years ago it would have fetched £120,000, and three years ago it would have fetched £145,000, and two years ago it would have fetched £170,000, and one year ago it would have fetched £200,000, and today it would fetch £120,000, in what way is the value of your house affected by your debts?

I think you're being deliberately obtuse - I didn't say, or imply, that the relationship between debt and value was that debt "affected" the value.

I said, and I thought it was pretty clear, that the purchase price has a relationship to the debt. If you think it doesn't, then have a go at mortgaging a property without telling the mortgagee the price.

You might have started out with a mortgage of £80,000, and you might later have taken out secured loans of a further £100,000 and spent the money of fast women, loose cars and holidays in Florida.

You can invent all the scenarios you like, but it doesn't change the fact that, for most people, the mortgage debt is related to the original value of the property. Only if the purchase is made soon before a crash, or soon before loss of income, is the temporary loss in value a problem.

And which of those prices is the "correct" one?

Don't be silly. The problem is that property prices are volatile, and sometimes extremely so. If your curmudgeonly (sic.) point is simply that life is often tough, then that one word would have summed it up.

 

[JohnD]

I think you're being deliberately obtuse

Nothing deliberate about it.

Value is value. History, needs, debts, wishes, hopes and dreams are irrelevant.

 

[anobium]

Softus wrote

suggest that you gen up on the meaning of the word "professional".

In the most popular usage it means "does it for a living", i.e. not an amateur.

Usual Softus response, I replied in the context of which you used the term, no problem you obviously are not familiar with the property market, I'll let you gen up on it, give you some time to think up another witty retort.

 

[Softus]

Tough.

There ya go - that wasn't so hard now was it.

 

[Softus]

I replied in the context of which you used the term

No. You didn't.

If you want to pick a fight, anobium, then do it with someone else. You're just not interesting enough.