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Has estate agent coined a new property term on ITV – the ‘unicorn offer’?

Estate agent Julie Nelson says she has started using the phrase to describe over-the-top bids that, until now, would never have been seen.

Nigel Lewis

estate agent julie

An estate agent has coined a new phrase after telling last night’s ITV Tonight programme that her agency is receiving offers on houses so unexpectedly high they’re referring to them as ‘unicorn offers’.

Julie Nelson (pictured), founder of 11-year-old Whitley Bay estate agency Embleys, used the phrase on the programme, which aired at 8.30pm.

Her interview was used to underline the theme of the programme, which looked at the current supply-versus-demand imbalance and the reasons behind it in different parts of the UK.

“We have a high number of buyers who want to move to the Whitley Bay area but we don’t have the stock because people are staying put,” she said.

“Some offers are coming in so high we’ve named them ‘unicorn offers’ because they are so high that we just didn’t expect them.”

estate agent itvNelson also told the programme that she had resorted to ‘best and final offers’ or ‘sealed bids’ as the only way to manage the high number of bids coming in for each property.

“Otherwise you just get into a bidding war that just doesn’t work for either vendor or buyer and, she later said, encourages gazumping.”

The ITV programme was a high-speed romp through the challenges facing both agents and the home movers introduced by Nathan Emerson, who told reporter Jonathan Maitland that stock levels are 50% down on pre-pandemic times and that 37% of homes were selling for more than the asking price.

“The housing market at the moment is red hot,” he said.

April 8, 2022

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