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Residents urged to expect a very tough 12 months


offshoremanxman
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19 minutes ago, Max Power said:

Talk of a recession is a self fulfilling prophesy! 

We are in a recession and it’s no good IOMG dick waving and denying a recession. 
 

The cost of building materials is affecting the construction industry, in most cases, the costs have rocketed, affecting their profits. 

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23 minutes ago, Max Power said:

Talk of a recession is a self fulfilling prophesy! 

Not mentioned a recession. But the housing market is clearly very, very tight. I can’t actually see how some estate agents survive selling a handful of houses a year and there do seem to be more rentals on the market in the last few months. There needs to be a lot more stock built otherwise there will be very slim pickings for the agents. 

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7 minutes ago, offshoremanxman said:

Not mentioned a recession. But the housing market is clearly very, very tight. I can’t actually see how some estate agents survive selling a handful of houses a year and there do seem to be more rentals on the market in the last few months. There needs to be a lot more stock built otherwise there will be very slim pickings for the agents. 

When you have someone who earns money from a percentage of the sale price what happens to the price I wonder? If the prices start falling by 10-20% no doubt they'll either raise their fees to maintin their cut or go to fixed fee to try to retain their income.

 

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1 minute ago, CallMeCurious said:

When you have someone who earns money from a percentage of the sale price what happens to the price I wonder? If the prices start falling by 10-20% no doubt they'll either raise their fees to maintin their cut or go to fixed fee to try to retain their income.

At the moment there’s not much on the market except things that sell really quickly or a load of sad old shite that needs too much money spent on it that’s been hanging around since the end of covid. If prices drop I can’t see agents putting their fees up much past 1% as the bigger agents will be able to hold out better. I think more likely some will close up shop or get absorbed by bigger agents. 

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3 minutes ago, CallMeCurious said:

When you have someone who earns money from a percentage of the sale price what happens to the price I wonder? If the prices start falling by 10-20% no doubt they'll either raise their fees to maintin their cut or go to fixed fee to try to retain their income.

 

Those leeches must surely have had their day in the modern online era?

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3 minutes ago, offshoremanxman said:

At the moment there’s not much on the market except things that sell really quickly or a load of sad old shite that needs too much money spent on it that’s been hanging around since the end of covid. If prices drop I can’t see agents putting their fees up much past 1% as the bigger agents will be able to hold out better. I think more likely some will close up shop or get absorbed by bigger agents. 

Assuming it's not a prolonged downturn. I still prefer something like the Scottish system of sealed bids. Seller sets a minimum price which is public. If you can match that you submit what you can afford or think is a good offer and the seller gets the best price. Binding contract, no gazzumping, or 'testing the market'. 

It's still open to some abuse if say some developers get together and collude but it has to be a start.

Also surprised someone hasn't come up with a 'dating app' for houses where buyers and sellers list their price range, preferences and no goes etc. Let the algorithm sort them out.

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29 minutes ago, CallMeCurious said:

Assuming it's not a prolonged downturn. I still prefer something like the Scottish system of sealed bids. Seller sets a minimum price which is public. If you can match that you submit what you can afford or think is a good offer and the seller gets the best price. Binding contract, no gazzumping, or 'testing the market'. 

It's still open to some abuse if say some developers get together and collude but it has to be a start.

Also surprised someone hasn't come up with a 'dating app' for houses where buyers and sellers list their price range, preferences and no goes etc. Let the algorithm sort them out.

Look at Rightmove and check the filters, for the buyer it's all there.

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10 hours ago, offshoremanxman said:

You’d need an estate agents license to do that.

ooooh! ...that must be a tough exam.

Q1: Are you happy selling out the island to import a load of old duffers who will downsize and sell up in the UK, buy all the first time-buyer houses on the island while blocking up the health service?

Q2: Count to 5

Q3: Spell 'Gazump'

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The Good Doctor has a proven track record in slavishly regurgitating everything his public servants tell him to but there's only 2 months of the "extremely tough" twelve months left to go so all is well.

Green shoots and sunlight uplands and all that...

Edited by Non-Believer
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