   
Leslie Leigh
Posts: 1
Joined: 2/10/2008
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A return to traditional estate agents?
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Freeing up markets and reducing regulation provided the banks with the opportunity to provide hostile lending to the market, this provided the market with the ability to buy up property without the need to cater substantial, if any, capital to the investment, even mortgages of up to 110% were not rare. This caused huge growth in property prices due to rapid increases in demand and therefore the property market has grown at a rate well above domestic incomes.
So, therefore this economic credit quake came at no surprise to economic theory. So to look at this in a positive light, we are going through a correction in the market bringing prices back to more of a realistic figure in terms of real incomes.
Now, however what I want to look at is the fact that it may be a long time before we move back into a property boom, if at all, but will this cause estate agents to exit the market? will the greedy agents that entered this business just for highly profitable balance sheets and not in the mind of a traditional, quality service be forced to close business? Will this be a return from the negative perception of an estate agent to the honest and respected agents?
I believe that we are going to see a huge change in the way the property market is conducted and this is going to come at a shock to many, but I would like to hear what you believe first....
Andrew P Salter
leslieleigh.co.uk
< Message edited by Admin -- 7/10/2008 4:44:01 PM >
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