Property sales showed signs of stabilising in April

Thrugelmir

Cleaver wrote: »

Doesn't sound many, but how many people work in an average estate agent branch? Maybe four or five?

In one part of town here, 4 agents have closed offices that are now obviously excess to requirements. So while the same number of chains remains there are fewer branches.

So the figures aren't like for like.

Cleaver

abaxas wrote: »

Obviously staff and premises come for free.

Where did I say that staff and premises come for free? I was clearly being tongue in cheek about the expenses.

Orpheo

Cleaver wrote: »

Doesn't sound many, but how many people work in an average estate agent branch? Maybe four or five?

Average house price is £165k or there abouts, so at 2% fees that's an income of £26,400. Doesn't seem all that bad really, considering your overheads only consists of a stupid mini, a cheap subscription to Rightmove, some hair gel and a dozen or so awful ties.

There must be a lot of indebted EA businesses currently making losses.

ruggedtoast

Cleaver wrote: »

Doesn't sound many, but how many people work in an average estate agent branch? Maybe four or five?

Average house price is £165k or there abouts, so at 2% fees that's an income of £26,400. Doesn't seem all that bad really, considering your overheads only consists of a stupid mini, a cheap subscription to Rightmove, some hair gel and a dozen or so awful ties.

And unlike any other profession there is no requirement to maintain any qualifications, any meaningful accreditation, or ongoing cpd. Its doubtless much more expensive to run a branch of Greggs with three staff than an estate agents.

Cleaver

ruggedtoast wrote: »

And unlike any other profession there is no requirement to maintain any qualifications, any meaningful accreditation, or ongoing cpd.

That's a good point.

I do wonder whether there's a long term future for estate agents, especially when you look at the current business model. I know Google are already on to this type of thing, but all you basically need is an online map of the country and an option for users to upload their details on to the site for others to browse. Nice and simple.

I guess there may be a market for self-employed people to do the following:

• Take decent photos
• Do neogitation on your behalf
• Show people around your house

But, without sounding arrogant, I fully believe that I could do the three tasks above better than most estate agents I've met. And this is probably because of the exact point Mr Toast makes, which is that EAs don't have any training whatsoever, so why would they be better than a lay person? My wife's hobby is photography and I know a lot of people dabble in this area. So we've taken the photos of the last two properties we've sold as the EA's ones were just average. And taken on a crappy little camera - considering most people view initially through Rightmove in the first instance, why don't EAs recognise that a proper camera used by someone with skills is important? Sounds silly, but if I owned an EA I'd send my staff on photography courses.

Probably some money to be made in this arena if you thought about how a new model could work.

ukcarper

Orpheo wrote: »

There must be a lot of indebted EA businesses currently making losses.

Aren’t a lot if EA also letting agents.

geneer

chucky wrote: »

so no crash then?

i hope it hurries up because the usual suspects are running out of reasons for it to happen...

Brilliant chucky.

What an interesting tactic.
Denial. Thats unusual for a bull.

Gotta love a poster who brings such new and interesting ideas to the board.