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Property Market 2020

Bigmac1euro

Maybe an article for “Property Market 2020”
Anyhow looks like developers are going to start strangling supply in order to keep prices in check.

Worth a read anyway.

https://www.independent.ie/business/personal-finance/property-mortgages/developers-now-fear-flooding-market-as-house-prices-in-decline-38820967.html

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The_Conductor

Mic 1972 wrote: »

self entitlement isn't going to help, that's for sure

Some people are willing to make sacrifices that others consider too extreme or excessive. I never really 'got' that whole avocado thing- but there are people out there who smoke, drink, have gym memberships, decent VHI, Sky packages, iPhone 11s, regularly eat take-aways, go on 1-2 sun holidays a year etc. Then there are people who don't do any of these things.

People have a reasonable expectation to 'live' however, living and what are reasonable norms- will differ from person to person.

A singleton on a reasonable wage- could, if properly focused, save as much as an average couple on similar wages- but the singleton would be exceptional- and the couple would be using a chunk of their disposable income towards living expenses that the singleton might only dream about.

Swings and round-abouts. You only live once.

Mic 1972

Captainsatnav wrote: »

This old chestnut agian.

If only I could kick my blasted avocado habit...then I could buy a house. Oh well...

self entitlement isn't going to help, that's for sure

Captainsatnav

Mic 1972 wrote: »

If I could afford a house being single with an average salary anybody can, but most people aren't willing to make sacrifices

This old chestnut agian.

If only I could kick my blasted avocado habit...then I could buy a house. Oh well...

Mic 1972

kippy wrote: »

To support those that can't...... Among other reasons.

If I could afford a house being single with an average salary anybody can, but most people aren't willing to make sacrifices

Hubertj

combat14 wrote: »

Some denial too

Egypt?

Graham

addaword wrote: »

At the anxiety stage. Prices have a lot to drop yet.

There's an entire "market completely frozen" point missing on that chart!

addaword

celtic_oz wrote: »

I'm thinking there's some anxiety in this thread .. where do you think we are ?

At the anxiety stage. Prices have a lot to drop yet.

combat14

celtic_oz wrote: »

I'm thinking there's some anxiety in this thread .. where do you think we are ?

Some denial too

celtic_oz

I'm thinking there's some anxiety in this thread .. where do you think we are ?

Graham

Mod Note

on that note. A friendly reminder the discussion is Property Market 2020.

Any further off-topic posts will be deleted/infracted or result in a thread ban. If you have an issue with a post, please report it.

This applies to ALL posters.

Empty_Space

I can't get over auctioneras condescending and patronizing tone. It's a train wreck since they decided to join this threadðŸ˜‚.

Can they be removed for their own good and the good of the forum. Sick of reading them in every second post.

hurikane

Julissa Bitter Jeep wrote: »

Likewise. Bizarre posts. Will stick with SF & the main agents myself !

It’s like an estate agent with a Conor McGregor type persona.

Does anyone remember privateseller.ie?

q85dw7osi4lebg

192 properties listed as sold, 96 Google reviews, that's some hit rate for reviews, congrats.

q85dw7osi4lebg

Auctioneera wrote: »

Fair enough. We think paying several thousand Euro to sell a property is illogical. But that's what makes a market. Differences of opinion. I don't think any of our posts were "bizarre" though in fairness. We engaged meaningfully in the discussion. So we respectfully disagree with you paying SF et al so much.
We think we will ultimately become the main agent...but we would say that of course.

You don't have a new business model. It's been tried and tested the world over, and there's a reason fees in the states remain a whopping 5-6% while in Ireland they are a measly .75-1.75%. you really do get what you pay for IMO.

It's not all about cost. Is all you grocery shopping from a retailers own brand because it's cheap?

Auctioneera

Icepick wrote: »

There is only two ways this can go. You either can't offer the same services as other agents or you never grow and can't attract the best talent.

I would politely encourage you to search for "auctioneera reviews" on google to see the opinion of those who have used our service to date. We think the market will ultimately eschew the high priced agencies in favour of ourselves. But of course we respect your different opinion. The market will ultimately decide.

Auctioneera

Julissa Bitter Jeep wrote: »

Likewise. Bizarre posts. Will stick with SF & the main agents myself !

Fair enough. We think paying several thousand Euro to sell a property is illogical. But that's what makes a market. Differences of opinion. I don't think any of our posts were "bizarre" though in fairness. We engaged meaningfully in the discussion. So we respectfully disagree with you paying SF et al so much.
We think we will ultimately become the main agent...but we would say that of course.

q85dw7osi4lebg

hurikane wrote: »

Your posting style and attitude, would put me off ever using your service.

Likewise. Bizarre posts. Will stick with SF & the main agents myself !

Icepick

Auctioneera wrote: »

Our view is that the market (the bidders) determine the price a property sells for, not the estate agent. You wouldn't expect to pay a different price for a share in a company for example, depending on the broker through which you bought it - why is a house any different. The market determines the price, not the agent.
We charge a lower price than other agents so we let our vendors keep more of the value of their property.

There is only two ways this can go. You either can't offer the same services as other agents or you never grow and can't attract the best talent.

hurikane

Auctioneera wrote: »

Fair play Graham - deleting an interesting, engaging, informative and stimulating conversation. Nice job

Your posting style and attitude, would put me off ever using your service.

Graham

Mod Note

folks, I've deleted a few completely off-topic posts.

Welcome back to the Property Market 2020 thread

Cyrus

PokeHerKing wrote: »

1.2 million would buy close to 100% of properties in Enniskerry currently on my home.

How many are big detached houses on a 2 acre site ?

Donald Trump

Auctioneera wrote: »

Our view is that the market (the bidders) determine the price a property sells for, not the estate agent. You wouldn't expect to pay a different price for a share in a company for example, depending on the broker through which you bought it - why is a house any different. The market determines the price, not the agent.
We charge a lower price than other agents so we let our vendors keep more of the value of their property.

Bidders have to know about the property though. You need to know where to advertise it. That probably isn't as important for residential houses. And they have to be convinced of the merits of buying it. Certain Estate agents might have built up lists of people looking to buy that type of property too (depending on the type).

Mic 1972

Auctioneera wrote: »

All estate agents in Ireland are regulated by the PSRA. We are required by law to disclose the current offers on a property. We put all latest offers on our website and think that every estate agent should do this.

An agent told me the current offer over the phone, when i said I wasn't interested in viewing the property because the offer was too high he sounded surprised, i had a feeling that he gave some bull**** figure over the phone and probably regretted it because I lost interest in the property
<SNIP>

Auctioneera

EagerBeaverton wrote: »

Is it a requirement to provide that information in writing / email so there's a record that the PSRA can check against the EAs own records if a complaint of suspected ghost bidding was made?

An agent can provide the information verbally over the phone. However, I would request it in writing myself if I was buying as I think if an agent was inclined to ghost bid, he would prefer to do that over the phone as opposed to in writing.
Sorry if I caused confusion: there is no requirement to email the latest bidding position - you can do that over the phone. I was advising that you should ask for it in writing.
In fairness, the vast, vast majority of agents won't ghost bid anyway as that would risk their license, reputation and so their livelihood.

EagerBeaverton

Auctioneera wrote: »

We are obliged to disclose the current bidding situation yes. If someone asks us, or any agent, "are there any offers?" we must answer that question truthfully....as you would expect.

Is it a requirement to provide that information in writing / email so there's a record that the PSRA can check against the EAs own records if a complaint of suspected ghost bidding was made?

Auctioneera

Donald Trump wrote: »

You are hardly doing a good job of advertising your own business with "come to us. we'll won't do any better than the others"

Our view is that the market (the bidders) determine the price a property sells for, not the estate agent. You wouldn't expect to pay a different price for a share in a company for example, depending on the broker through which you bought it - why is a house any different. The market determines the price, not the agent.
We charge a lower price than other agents so we let our vendors keep more of the value of their property.

EagerBeaverton

Dav010 wrote: »

I think you are doing a bit of shilling here auctioneera. By law you are required to keep a record of bids, are you required to give in to bidders in writing?

Good question, be interested to know that myself particularly if it's law to provide that info in writing/email. Also a good reason why it's useful to have an actual EA here who can provide potentially verifiable information to us that we might not have known about.

Donald Trump wrote: »

You are hardly doing a good job of advertising your own business with "come to us. we'll won't do any better than the others"

In fairness to them they're being transparent about their business model. EAs get a lot of flack but they're upfront about their offering. Horses for courses.

Auctioneera

Dav010 wrote: »

I think you are doing a bit of shilling here auctioneera. By law you are required to keep a record of bids, are you required to give in to bidders in writing?

We are obliged to disclose the current bidding situation yes. If someone asks us, or any agent, "are there any offers?" we must answer that question truthfully....as you would expect.

Donald Trump

Auctioneera wrote: »

There's no such thing as "the best possible price" - there is the market price as determined by what the highest bidder is willing to pay. Estate agents facilitate offers to be made on properties. The idea that the market value of an asset varies by whom the agent is charged with selling it is a nonsense in our view.
Every agent brings the market price to the vendor. The vendor decides to accept or reject that.

You are hardly doing a good job of advertising your own business with "come to us. we'll won't do any better than the others"

Graham

Mod Note

Auctioneera, please limit your posts to responding to specific questions or mentions of Auctioneera.

Any posts outside of this will be deleted.