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Why would an estate agent sell his house now?

(17 Posts)
Jampot Thu 18-Sep-08 13:57:16

A director of a local estate agency has just put his house on the market . Would you read anything into this? or am I looking too deeply into it. I guess Im wondering if he's bailing out or possibly he just wants to move...

conniedescending Thu 18-Sep-08 14:01:22

he probably can't afford the mortgage and is not making much money as well

quite a few local agencies round here have shut up shop as well

Swedes Thu 18-Sep-08 14:06:47

He might see this as a good time to ascend the property ladder.
He might be getting divorced.
His children might have left home and he wants to downsize.
He might have inherited a vast sum of money and be looking to invest in a much bigger house.
He might have decided to send his children to independent school and is selling in order to raise money for the fees.
He might be moving into a school catchment area.
He might want a bigger garden.
He might want to be closer to his wife's work.

KatieDD Thu 18-Sep-08 20:45:27

He's shitting himself that his house will be worth 50% less next year ?

DaisySteiner Thu 18-Sep-08 20:47:35

Ooh, Jampot, whereabouts in the country are you, cos a director of a local estate agency near me has just put his house on the market!

In this case it's because of a marriage breakdown.

Ewe Thu 18-Sep-08 20:47:50

He isn't earning any money would be my best guess.

MaloryDontDiveItsShallow Thu 18-Sep-08 20:51:05

Message withdrawn at poster's request.

Jampot Thu 18-Sep-08 21:43:11

im in west mids.

DaisySteiner Thu 18-Sep-08 21:48:29

Oh, nowhere near me then, just a coincidence.

fiodyl Fri 19-Sep-08 11:26:14

Its not a coincidence, its happening all over the country.

EAs having been spinning their BS so long alot of them began to believe it themselves. Now they are finally beginning to realise this and are jumping ship while they still can.

lalalonglegs Fri 19-Sep-08 11:39:04

Es make 50% of their salary through commission but transactions are down 85% - now do you see why he is selling his house? grin

lalalonglegs Fri 19-Sep-08 11:39:26

EAs sorry

whoops Fri 19-Sep-08 11:41:02

it could be that a better house has come along at a bargain price so he is after that one

Fimbo Fri 19-Sep-08 13:35:53

We have had one local EA close. Recently there have been a lot or large properties come on in my area. £1million+

WideWebWitch Fri 19-Sep-08 13:44:17

Bailing out before it falls further I reckon.

nappyaddict Fri 19-Sep-08 13:46:30

Yet the lettings agencies are starting up all over the place by me.

CarGirl Fri 19-Sep-08 13:47:58

I reckon he can't afford his interest only mortgage anymore.

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