Agent recommendations for selling a Factory Conversion Flat in East London?

LHW99

johnc said:

silvercar said:

My son, as a first time buyer, bought through Yopa without any estate agent issues. They were as good, or bad, as any other estate agents. (Coincidentally also a top floor flat in East London). To give credit to Yopa, he wouldn’t have looked at that flat had he not been encouraged to do so by Yopa, after disliking something Yopa had sent him nearer to Stratford.

Thanks - that's good to hear. I was thinking as a final step I am going to reach out to the person that's just sold their flat through Yopa to hear their experience (if Yopa will give me his details - if not I will have to search around in my Development). Thats funny it's a top floor flat in East London - it would be really funny if it is the one in my Development! It's not also a factory conversion is it? Mine is near Stratford too - I might send you a direct message!

You could also reach out to the person that bought it. There are two sides to any sale, and if the buyer can't get sense from the EA they have found it through, they may give up.

The last property we bought via EA (local to the property not too long ago) was good, and kept us informed when things went a little awry with the chain (only 3 involved).

A previous purchase (again local agent - before online were around) didn't communicate with us or the seller and made things more difficult than they should have been, as we were moving from the south to the north midlands.

johnc

annetheman said:

OP, I was about to buy a house on a road J******* Road, E** 9** that had converted warehouse flats (I ended up pulling out).

As I was researching how sales progressed on that road in general, I was curious about the flats too and saw that most had sold for less than what they were bought for. Noted a very high purchase price in the buying frenzy of 2022 also which is probably going to sting.

But I think looking at it broadly, flats are having a tough time the past decade (usual reasons you've heard, Grenfell, leasehold stuff in the news, WFH wanting outside space etc). I just sold mine in August so was watching the flat market with very keen interest and noted it seems to be an everywhere issue, but especially London and the SE; you may therefore find it might be hard to sell or you may have to drop below what you think it's worth (or if really unlucky, what you paid for) regardless of which agency you use.

It's a market thing, not the specific agent, IMO. That being said I also had to fire my first agent (a large national) and had a great experience with the next (a local) so quality does vary!

Anyway I wish you the best of luck and persevere, it's not easy selling a flat - I know - but you'll get there!

That's my road! Ha. Though sorry to say but that's incorrect on the details regarding the flats here - only one has sold for less than it was bought for and that particular owner had individual circumstances for that. I am a previous Right to Manage Director in the building so I know it quite well - every other flat has sold for a good profit from it's buying price (some have sold for very big profits) and these flats are generally in good demand because it's a beautiful Factory conversion and also because they are bigger/high ceilings etc. Mine in particular is the Penthouse at the top with balcony etc so I know there won't be an issue selling it - it's more the question around the agent etc per my post. 

johnc

LHW99 said:

johnc said:

silvercar said:

My son, as a first time buyer, bought through Yopa without any estate agent issues. They were as good, or bad, as any other estate agents. (Coincidentally also a top floor flat in East London). To give credit to Yopa, he wouldn’t have looked at that flat had he not been encouraged to do so by Yopa, after disliking something Yopa had sent him nearer to Stratford.

Thanks - that's good to hear. I was thinking as a final step I am going to reach out to the person that's just sold their flat through Yopa to hear their experience (if Yopa will give me his details - if not I will have to search around in my Development). Thats funny it's a top floor flat in East London - it would be really funny if it is the one in my Development! It's not also a factory conversion is it? Mine is near Stratford too - I might send you a direct message!

You could also reach out to the person that bought it. There are two sides to any sale, and if the buyer can't get sense from the EA they have found it through, they may give up.

The last property we bought via EA (local to the property not too long ago) was good, and kept us informed when things went a little awry with the chain (only 3 involved).

A previous purchase (again local agent - before online were around) didn't communicate with us or the seller and made things more difficult than they should have been, as we were moving from the south to the north midlands.

Yes good point - though I am thinking just to go with Yopa as I don't see any better alternative with other agents from speaking to a few - actually every other agent has been very slow to respond/answer my questions which shocked me at this stage when they should be selling it to me to use their services! I think the fact that a very similar flat has been sold through them at the moment is the key data point I am hoping is effective since they already have a pipeline of potential buyers. 

Even after signing up I might speak to the buyer (and seller) to see if there's any tips to keep the process as efficient as possible. 

annetheman

johnc said:

annetheman said:

OP, I was about to buy a house on a road J******* Road, E** 9** that had converted warehouse flats (I ended up pulling out).

As I was researching how sales progressed on that road in general, I was curious about the flats too and saw that most had sold for less than what they were bought for. Noted a very high purchase price in the buying frenzy of 2022 also which is probably going to sting.

But I think looking at it broadly, flats are having a tough time the past decade (usual reasons you've heard, Grenfell, leasehold stuff in the news, WFH wanting outside space etc). I just sold mine in August so was watching the flat market with very keen interest and noted it seems to be an everywhere issue, but especially London and the SE; you may therefore find it might be hard to sell or you may have to drop below what you think it's worth (or if really unlucky, what you paid for) regardless of which agency you use.

It's a market thing, not the specific agent, IMO. That being said I also had to fire my first agent (a large national) and had a great experience with the next (a local) so quality does vary!

Anyway I wish you the best of luck and persevere, it's not easy selling a flat - I know - but you'll get there!

That's my road! Ha. Though sorry to say but that's incorrect on the details regarding the flats here - only one has sold for less than it was bought for and that particular owner had individual circumstances for that. I am a previous Right to Manage Director in the building so I know it quite well - every other flat has sold for a good profit from it's buying price (some have sold for very big profits) and these flats are generally in good demand because it's a beautiful Factory conversion and also because they are bigger/high ceilings etc. Mine in particular is the Penthouse at the top with balcony etc so I know there won't be an issue selling it - it's more the question around the agent etc per my post. 

It could be that some transactions weren't registered - this was the last one I saw when I was researching early this year that freaked me out, and the 2022 buy which is the highest on the road, hence I didn't want to offer higher than it:

£275,000	16 May 2023
£305,000	20 Dec 2018

£388,000	15 Jul 2022
£240,000	1 Feb 2007

Either way things are looking much better now than when I was selling in Jan 2024. Best of luck to you, whoever you go with (and PLEASE avoid Connells and all their subsidiaries!)

michael1234

Schwarzwald said:

I find Keatons in East London quite good.
also, just drive around and see which marketing boards you see the most selling and letting.
believe that is a good indication.
i live in East London and Keatons seems to have a “leading” market shares I have the impression

I would suggest those are the agents to avoid. I find those that are the most popular are also the most busy which typically means poorer service.

Online is the way the world is moving to and it means you don't end up paying for expensive bricks and mortar offices.

johnc

michael1234 said:

Schwarzwald said:

I find Keatons in East London quite good.
also, just drive around and see which marketing boards you see the most selling and letting.
believe that is a good indication.
i live in East London and Keatons seems to have a “leading” market shares I have the impression

I would suggest those are the agents to avoid. I find those that are the most popular are also the most busy which typically means poorer service.

Online is the way the world is moving to and it means you don't end up paying for expensive bricks and mortar offices.

Agreed completely.

I am going with Yopa having spoken to the other seller in my building and the experience they had with the local Yopa agent getting it from advert to sale.

johnc

annetheman said:

johnc said:

annetheman said:

OP, I was about to buy a house on a road J******* Road, E** 9** that had converted warehouse flats (I ended up pulling out).

As I was researching how sales progressed on that road in general, I was curious about the flats too and saw that most had sold for less than what they were bought for. Noted a very high purchase price in the buying frenzy of 2022 also which is probably going to sting.

But I think looking at it broadly, flats are having a tough time the past decade (usual reasons you've heard, Grenfell, leasehold stuff in the news, WFH wanting outside space etc). I just sold mine in August so was watching the flat market with very keen interest and noted it seems to be an everywhere issue, but especially London and the SE; you may therefore find it might be hard to sell or you may have to drop below what you think it's worth (or if really unlucky, what you paid for) regardless of which agency you use.

It's a market thing, not the specific agent, IMO. That being said I also had to fire my first agent (a large national) and had a great experience with the next (a local) so quality does vary!

Anyway I wish you the best of luck and persevere, it's not easy selling a flat - I know - but you'll get there!

That's my road! Ha. Though sorry to say but that's incorrect on the details regarding the flats here - only one has sold for less than it was bought for and that particular owner had individual circumstances for that. I am a previous Right to Manage Director in the building so I know it quite well - every other flat has sold for a good profit from it's buying price (some have sold for very big profits) and these flats are generally in good demand because it's a beautiful Factory conversion and also because they are bigger/high ceilings etc. Mine in particular is the Penthouse at the top with balcony etc so I know there won't be an issue selling it - it's more the question around the agent etc per my post. 

It could be that some transactions weren't registered - this was the last one I saw when I was researching early this year that freaked me out, and the 2022 buy which is the highest on the road, hence I didn't want to offer higher than it:

£275,000	16 May 2023
£305,000	20 Dec 2018

£388,000	15 Jul 2022
£240,000	1 Feb 2007

Either way things are looking much better now than when I was selling in Jan 2024. Best of luck to you, whoever you go with (and PLEASE avoid Connells and all their subsidiaries!)

This forum comment is almost like the social media conversations I see but never get involved in. I really thought this forum was better than this. So I suggest you look at the detail a little more - how many Flats are you suggesting sold for less than the previous one? Because as I previously already said there was one (which I see you have picked out) that is in the 76-80 block. Then the other transaction is from Flat 73 which I know well which sold for higher than previously sold so not sure what the issue there is? Therefore one out of 80 flats would not suggest a trend unless I failed at Maths. 

annetheman

johnc said:

annetheman said:

johnc said:

annetheman said:

OP, I was about to buy a house on a road J******* Road, E** 9** that had converted warehouse flats (I ended up pulling out).

As I was researching how sales progressed on that road in general, I was curious about the flats too and saw that most had sold for less than what they were bought for. Noted a very high purchase price in the buying frenzy of 2022 also which is probably going to sting.

But I think looking at it broadly, flats are having a tough time the past decade (usual reasons you've heard, Grenfell, leasehold stuff in the news, WFH wanting outside space etc). I just sold mine in August so was watching the flat market with very keen interest and noted it seems to be an everywhere issue, but especially London and the SE; you may therefore find it might be hard to sell or you may have to drop below what you think it's worth (or if really unlucky, what you paid for) regardless of which agency you use.

It's a market thing, not the specific agent, IMO. That being said I also had to fire my first agent (a large national) and had a great experience with the next (a local) so quality does vary!

Anyway I wish you the best of luck and persevere, it's not easy selling a flat - I know - but you'll get there!

That's my road! Ha. Though sorry to say but that's incorrect on the details regarding the flats here - only one has sold for less than it was bought for and that particular owner had individual circumstances for that. I am a previous Right to Manage Director in the building so I know it quite well - every other flat has sold for a good profit from it's buying price (some have sold for very big profits) and these flats are generally in good demand because it's a beautiful Factory conversion and also because they are bigger/high ceilings etc. Mine in particular is the Penthouse at the top with balcony etc so I know there won't be an issue selling it - it's more the question around the agent etc per my post. 

It could be that some transactions weren't registered - this was the last one I saw when I was researching early this year that freaked me out, and the 2022 buy which is the highest on the road, hence I didn't want to offer higher than it:

£275,000	16 May 2023
£305,000	20 Dec 2018

£388,000	15 Jul 2022
£240,000	1 Feb 2007

Either way things are looking much better now than when I was selling in Jan 2024. Best of luck to you, whoever you go with (and PLEASE avoid Connells and all their subsidiaries!)

This forum comment is almost like the social media conversations I see but never get involved in. I really thought this forum was better than this. So I suggest you look at the detail a little more - how many Flats are you suggesting sold for less than the previous one? Because as I previously already said there was one (which I see you have picked out) that is in the 76-80 block. Then the other transaction is from Flat 73 which I know well which sold for higher than previously sold so not sure what the issue there is? Therefore one out of 80 flats would not suggest a trend unless I failed at Maths. 

Not sure what you're on about tbh. Again - best of luck finding an agent.

johnc

annetheman said:

johnc said:

annetheman said:

johnc said:

annetheman said:

OP, I was about to buy a house on a road J******* Road, E** 9** that had converted warehouse flats (I ended up pulling out).

As I was researching how sales progressed on that road in general, I was curious about the flats too and saw that most had sold for less than what they were bought for. Noted a very high purchase price in the buying frenzy of 2022 also which is probably going to sting.

But I think looking at it broadly, flats are having a tough time the past decade (usual reasons you've heard, Grenfell, leasehold stuff in the news, WFH wanting outside space etc). I just sold mine in August so was watching the flat market with very keen interest and noted it seems to be an everywhere issue, but especially London and the SE; you may therefore find it might be hard to sell or you may have to drop below what you think it's worth (or if really unlucky, what you paid for) regardless of which agency you use.

It's a market thing, not the specific agent, IMO. That being said I also had to fire my first agent (a large national) and had a great experience with the next (a local) so quality does vary!

Anyway I wish you the best of luck and persevere, it's not easy selling a flat - I know - but you'll get there!

That's my road! Ha. Though sorry to say but that's incorrect on the details regarding the flats here - only one has sold for less than it was bought for and that particular owner had individual circumstances for that. I am a previous Right to Manage Director in the building so I know it quite well - every other flat has sold for a good profit from it's buying price (some have sold for very big profits) and these flats are generally in good demand because it's a beautiful Factory conversion and also because they are bigger/high ceilings etc. Mine in particular is the Penthouse at the top with balcony etc so I know there won't be an issue selling it - it's more the question around the agent etc per my post. 

It could be that some transactions weren't registered - this was the last one I saw when I was researching early this year that freaked me out, and the 2022 buy which is the highest on the road, hence I didn't want to offer higher than it:

£275,000	16 May 2023
£305,000	20 Dec 2018

£388,000	15 Jul 2022
£240,000	1 Feb 2007

Either way things are looking much better now than when I was selling in Jan 2024. Best of luck to you, whoever you go with (and PLEASE avoid Connells and all their subsidiaries!)

This forum comment is almost like the social media conversations I see but never get involved in. I really thought this forum was better than this. So I suggest you look at the detail a little more - how many Flats are you suggesting sold for less than the previous one? Because as I previously already said there was one (which I see you have picked out) that is in the 76-80 block. Then the other transaction is from Flat 73 which I know well which sold for higher than previously sold so not sure what the issue there is? Therefore one out of 80 flats would not suggest a trend unless I failed at Maths. 

Not sure what you're on about tbh. Again - best of luck finding an agent.

You had stated that most flats in this building had sold for less than what they were bought for.

Then in your previous reply you stated this was the last one that freaked you out and gave the details for two different flats. I am simply trying to understand the others you saw that sold for less than what they were bought for because as far as I know that was the only one - so perhaps you made a mistake or something? I was just a little confused why you thought most of the flats had been sold for less than what they were bought for.