Estate Agency Closures

baby_boomer

I hope that job losses, however terrible, will never be a reason to avoid discussing an important economic trend on MSE.

As someone with a financial stake in an EA business, I can't afford too much gloating.

Thanks for the Telegraph link PN.

ffacoffipawb

Brian_Bullocks wrote: »

Tell me where to post a couple of box's of Kleenex® :beer:

You won't be able to buy any, as the EA's have bought all stock.

The profession is a big user of Kleenex®, ahem.

MrDT

ffacoffipawb wrote: »

You won't be able to buy any, as the EA's have bought all stock.

The profession is a big user of Kleenex®, ahem.

Sorry, I'm being completely offtopic, but I just have to say your username is awesome.

That is all.

baby_boomer

Rightmove notes the closures in its comment to investors

"The number of new estate agents joining Rightmove has increased particular in the North and Scotland but the retention rates have slumped to 85% from 92% in 2007 as result of estate agents going out of business. Rightmove said the number of estate agents closing will be higher in the second quarter of 2008, and the number closing is unlikely to be outweighed by new joiners."

And one I missed from April

Times

"Of the estimated 12,000 agents, at least 4,000 will close by next year, according to predictions by the biggest network of independent estate agencies. Robin King, director of Movewithus, who described the closures as “massive”, said that sales made within his network had dropped by between 30 and 50 per cent since last year."

And finally some good news .

Telegraph - Government postpones compulsory HIPs before offering a house for sale because of fears over mass estate agency closures

"Since December, home-sellers have had to at least order one of the packs before putting a house on the market, though they have not had to actually complete one. At the end of this month the rules were due to change, forcing sellers to complete a Hip, providing details such as title deeds, local searches and an energy performance certificate.

However, the Department of Communities and Local Government – faced with estate agents closing at a rate of 150 a week – has got cold feet once again. It now intends to delay the final roll-out until the end of the year."

baby_boomer

baby_boomer wrote: »

I shall also keep an eye on the notorious Putney road which has about seven estate agents next to each other, including Foxtons.

All holding up bravely as of yesterday.

Foxtons still playing the lifestyle card with its open environment, comfy chairs and free drinks cabinet of cold bottled water and diet coke.

Innocenti

This thread has left a very bad taste in my mouth. I have sympathy for anybody who is made redundant regardless of their occupation (serial killers excluded!)

There are good and bad estate agents everywhere and it is wrong to gloat. Estate agents have got families/mortgages/commitements of their own and are probably worrying about where to find another job.

Pobby

Same old, same old. It all happened before in the early 90`s. Old Prudence, his golden rule and no more boom and bust. Unbelievable!!!!

Davesnave

Innocenti wrote: »

This thread has left a very bad taste in my mouth. I have sympathy for anybody who is made redundant regardless of their occupation (serial killers excluded!)

There are good and bad estate agents everywhere and it is wrong to gloat. Estate agents have got families/mortgages/commitements of their own and are probably worrying about where to find another job.

I agree, and as I'm always pointing out on here, it takes a certain sort of person to employ a certain sort of agent. Agents come in many flavours, and the truth is that Joe Public often isn't either bright enough, or bothered enough to spot the differences. But he/she does get a choice!

It isn't so easy for the buyer, who has to use the agent selling the property he/she is interested in. However, I've yet to meet a seller who won't give their telephone number and organise subsequent viewings, answer queries etc themselves.

Maybe it's because I'm involved with a more rural market, but all the agents I've employed, or contacted about other people's property over the last 2 years have been just 'normal' folk; no sleaze, no false promises, no pushiness.
Some have been genuinely very helpful with sound advice about planning, the local council, finding architects etc. There are others who have just left everything to the 'ladies' in the front office, but that's just indolence....hardly a hanging offence!

Admittedly I did have one guy 'view' my property in about 30 seconds and value it on the spot, rubbishing several other agents in the process and saying their estimates were well out. He was politely shown the door, and just as well, because his 'advice' would have cost me £18k. However, as I said, I had a choice....

As consumers, we are all responsible to some degree for the services we are willing to put up with. What's maybe needed is a locally-based site where people can rate agents against particular criteria after using them. Perhaps 'Which?' Local is already doing this in a haphazard way. I'll look.

Trollfever

Is this EA stupidity or manipulation?

De La Warr Road, Milford on Sea, Hampshire SO41 0PS £999,995,000 5 bedroom house

http://www.rightmove.co.uk/viewdetails-21327329.rsp?pa_n=1&tr_t=buy

Davesnave

Trollfever wrote: »

Is this EA stupidity or manipulation?

http://www.rightmove.co.uk/viewdetails-21327329.rsp?pa_n=1&tr_t=buy

Knowing Milford on Sea, it's probably both.

I used to take about 60-70 kids there for School Journey weeks. The place was full of pensioners' flats, all of them with telescopes trained on the sea, but probably following every move we made too.

The 'hotel,' (I use the word loosely) was run by an eccentic old dear who would carry a toy dog under her arm and yell insanely at the children for the most minor misdemeanours. Fortunately, none took her seriously; she was just part of the general mad ambience. On the first day we stayed there, I found an elderly gentleman roaming the corridors, chatting amiably with the kids. When I asked who he was, I was told: 'Oh that's just Mr Bloggs; he lives down the road and always pops in to see the children...'

Happy days! (though parents of today's kids should be reassured to know that the hotel was bulldozed in the 90s to make way for....more pensioners' flats.)

Sorry....I've gone totally off-topic. Anyway, I think Milford is an awful place. No property at any price would persuade me to live there