Estate agents hit by crunch - BBC Video

brit1234

Its getting real bad for estate agents, lots going bust. Video below:

http://news.bbc.co.uk/1/hi/england/7464556.stm

:eek:

fc123

Another traditional business model that will change and evolve over the next decade. I feel on-line agents (like houseprice network) will also expand their market share despite the downturn, further reducing the ammount of trad agents offices on the high st.

More premises to become Costa Coffees or pawn broker type places.

brit1234

Tescos were stupid for pulling out of the market. they could of made a killing.

fc123

brit1234 wrote: »

Tescos were stupid for pulling out of the market. they could of made a killing.

Thats good though....Tesco is taking over everything.
2020; UK renamed TESCO.

dopester

All these EAs closing down at a rate of 150 a week (I've forgotten the name of the stuff they brush on to the windows to blank them out?).... anyone noticed any other types of business moving in to their branches and trading again?

What useful and profitable new purpose could you make of an old EA branch as they are currently set out internally in your average town - which isn't likely to be met by other traders in the area?

If they are mostly all just sitting empty I suppose that side of commercial property letting is also taking a bad hit, and another group of people/owners/investors losing out.

BiggaThanBen

dopester wrote: »

All these EAs closing down at a rate of 150 a week

None closed, a new one opened last week in my area ..does not make any sense ... there are dozens already, every 10 meters on highstreet

mr.broderick

dopester wrote: »

All these EAs closing down at a rate of 150 a week (I've forgotten the name of the stuff they brush on to the windows to blank them out?).... anyone noticed any other types of business moving in to their branches and trading again?

What useful and profitable new purpose could you make of an old EA branch as they are currently set out internally in your average town - which isn't likely to be met by other traders in the area?

If they are mostly all just sitting empty I suppose that side of commercial property letting is also taking a bad hit, and another group of people/owners/investors losing out.

I remember something called windolene, is it pink?
Maybe they should legalise prostitution, it could be like amsterdam down the high street with sexy ladys naked in the window.

fc123

dopester wrote: »

If they are mostly all just sitting empty I suppose that side of commercial property letting is also taking a bad hit, and another group of people/owners/investors losing out.

The adjustments will take a decade or so (in retail premises).
LL tries to re-let at current rent, fails, but doesn't reduce rent at first.
Tries to 'cloak' rent reduction by offering, say, 1 year rent free (to keep up the rental levels of nearby premises)...but, eventually, he will need to get a tenant in as he has to pay full business rates now (new law in April 08).

Eventually, reduces rent to a lower level...which attracts an entrepreneurual type with a new retail concept they want to try out.

The whole process takes years though.

Both our shops were taken on at the 'reduced rent' stage of the cycle.

fc123

mr.broderick wrote: »

I remember something called windolene, is it pink?
Maybe they should legalise prostitution, it could be like amsterdam down the high street with sexy ladys naked in the window.

I know you are being jokey here but it's not such an unrealistic prediction for the future (20 yrs time future).....they may allocate areas. Leafy suburbs? Decaying High Streets...esp now as it looks like Woolworths is going to die a slow death.

mr.broderick

fc123 wrote: »

I know you are being jokey here but it's not such an unrealistic prediction for the future (20 yrs time future).....they may allocate areas. Leafy suburbs? Decaying High Streets...esp now as it looks like Woolworths is going to die a slow death.

Deadly serious honey (I'm 80);)

bo_drinker

They are stood in the street like mobile phone sales people around here if the sun is out, it's pathetic. Three gone already and the axe is swinging. The good times have gone .