Happened the same way last year. Some developers were quick out of the blocks in January with big headline price cuts. Expect to read about it in the IT property section tomorrow.
Yep. Here in Waterford 1600 sqf homes which were on at €335k and €300k respectively were traded last Saturday at €240k and €225k respectively. Missed the boat as we weren’t in town for the weekend.
Don’t know whehether that was a blessing or a curse!
The missus really wanted one of the €225k ones, but when I rang the EA on Monday he was, to put it mildly, downright rude.
Don’t be shy about giving it back to them. They **don’t deserve to have a job **if they are rude to a customer. In most industries you would be sacked for being rude to a customer, and proper order too.
Xman - I have worked serving the general public (not in the public sector though I hasten to add) for more than thirty years, and I would be sacked if I treated anyone without the appropriate courtesy. And rightly so.
If so, some of them will be back on the market when the buyers either get refused mortgage approval or find that the amount that they can draw down has been reduced.
Whatever about the rudeness issue, you are making a critical error and a very commonly held misunderstanding with regards to EAs …
The buyer (or potential buyer) is NOT the customer.
Let me repeat that The buyer (or potential buyer) is NOT the customer.
It is the vendor that is the EAs customer.
The vendor contracts out the EA to sell **their **property.
The EA has to operate purely in the interests of the vendor.
Yes, you could argue that rudeness is not in the vendors interest, but thats skirting the issue here.
When you go into practicially every other shop (shoe shop, newsagent etc) you **are **the customer.
When you enter an estate agency looking to buy - you are not !
Don’t agree. The man with the money calls the tune, especially when property prices are falling. The EAs that know this will survive, because they know where their commission is ultimately coming from.
Tell you what then, when you are buying a house please dont feel the need to employ a solicitor.
Following your logic, the vendors solicitor will also act in your best interest because you are the money man.
It hardly helps your client/customer if you scare off a potential buyer of their property. The third party is also less likely to go to you to sell their own property in future.
Its common courtesy really, doesn’t matter if they are clients or not.
I’m generally nicer to people who aren’t my clients
and the Vendor’s solicitor actually has a legal obligation to the purchaser, famous case about a landlocked property. Well, famous if you are into that stuff.
This is an excellent example of principle agent problem.
Certainly the vendor (the principle) is your (the agent) client, or customer. But the buyer (a principle) is the customer of the vendor (the principle).
Absolutely.
Being nice doesnt cost a penny.
Thats why I skirted the rudeness issue and focussed on the real point that many think they are the customer when they enter an estate agency.
I know nothing about that landlocked case (I have a life),
Do you know how far shafted the buyer was before it became illegal ?
