Estate Agents getting hungry - sign of improvements?

Hi Pinsters,

Just want to see has anyone experienced anything similar to me in recent weeks. I bought in Ranelagh late last year and extremely happy so far.

In just the last 2 weeks alone I have got in three letters (two of them hand written) from Estate Agents (Lisney / Gunne and one other) checking to see if I am interested in selling. One letter in particular stating that they have lined up three buyers desperate to purchase in the area.

I realise EAs are always hungry as with any business but given Property Price Register DB info etc they probably would not be pushing unless they believe prices are on the up. It is just amusing to me that all three letters arrived within such a short space of time. Anyone else seeing this? What can be taken from it? I am a little curious to see what figures they could produce.

The boom just got boomer!

Congrads on the purchase. Great to hear its working out.

I would think that its a sign there are very few transactions happening in the market, or at least where they see the demand.

No business would bother cold calling if they had a backlog of business themselves.

Bingo. Turnover still tiny.

What makes you think that ?

Wanting/Needing more business has nothing to do with prices.
EA’s live off commissions. Commissions are transaction-based.
The more transactions, the more commissions.

It has nothing to do with where property prices are presently or are going.

it’s not just commissions - if they’re getting the marketing etc cost it’s somethign

Exactly the same thing has been happening in Clonskeagh (Bird Avenue area) for at least the last 2-3 years. Come to think of it, they were coming through the door (less commonly) back in 2002 / 2003, if I recall correctly.

Low supply and pent-up demand in some areas makes these ‘fliers’ inevitable.

There is little to be read into it, other than supply is low.

If you wish to confirm your suspicions, why not contact them - and ask for a ball park figure [It might just put a smile on your face!]

Yep - no business would ever want to expand. People in the world of business who are busy from one end of the day to another never find time to market their business, visit trade shows, get junior staff to write letters or cold call potential clients. Extra business just arrives at their door.

It sounds like they have a backlog of buyers but a limited number of sellers.

If you still have them, take a close look at the ‘hand written’ letters. I used to get similar from one particular agency in my last house - hand written once, and then printed many many many times. I think the hope was to add a personal touch.

Rise in demand is not being meet by a rise in Supply.

At the end of the day EA only really care about volumes (and not prices as some pinsters suggest). The one thing sales driven organisations really hate is not meeting demand.

The real winners from the price rises in Dublin are the current crop of homeowners/investors.

Thanks mcannrb.

The third is the “hand written” one and is from OMD. On closer inspection ex_patrick you are right on the money. Made to look hand written but actually printed. No pen indent on the back.

Yeah probably not a huge amount to be taken from it. Although I think it does show demand and shortage which usually does equal price rises.

Could be a tiny rise in demand for the area by a few buyers going to each and every agent prompting the flyers but I reckon it is probably a little larger. I know quite a few buyers now desperate to “get in” now while prices are on the up. I’m not under the impression that it is sustainable growth in fact quite the opposite but I think fear is the real reason for this current rush.

May take advice and give them a buzz for a ball park figure.

Hi smurf. Congratulations on your recent purchase and welcome to the area. I also received a ‘personalised’ letter after I moved in to the area but unfortunately they were basically asking me to leave and take my poor taste in doors with me!

The estate agent letters are indeed tempting to avail of the free valuation they offer but if I were you I’d enjoy your new house and ignore the letters.

Nobody ever lost monet taking a profit Smurf! Why not put it on the market and state that as it was viewed to death last time there will be no viewings this time.

Cash buyers only, sealed tender. Money in escrow prior to tender submission. Viewings once the cash is in escrow just before tender submission.

Anyone who bought and sold at a profit ( inc stamp duty costs) in the past few years can fair sicken them down the golf club afterwards, what! :slight_smile:

We got woken this morning by the dogs going crazy. Unusual on a Saturday morning. My lie-in was destroyed…and for what?..some amateur handwritten (but photocopied) bumpf from an EA firm saying that it is a brilliant firm and other such rubbish. All this despite the “no junk mail” sign. I’m going to go to their office (quite a distance by the way) and walk in with the dogs straight up to them and give them their amateur 3rd class in primary school advert back. Rant over. :smiling_imp: