Thursday, Jul 24, 2008
Ex-Foxtons boss recommends to sell
London Evening Standard: My property predictions by Foxtons £370m guru
"What must it be like - to collect £370 million, personally, for selling your business? More pertinently, try to imagine how it feels to know that when you sold was right at the very peak of the market - another few weeks later and it crashed."
Posted by doomwatch @ 08:25 PM (737 views) Add Comment
7 Comments
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1. Cheekie Charlie said...
"absolute golden rule is sell before you start looking".
I like that bit!
2. dohousescrashinthewoods said...
Nasty piece of work, but a canny chap.
Foxtons is a business that is as urgent and difficult to eradicate from the economy as bindweed from a garden.
Vote with your money - probably the only vote that counts.
The Foxtons principle is simple - con, cajole, badger and threaten people into paying over the odds and laugh at them all the way to the bank.
Classic criminality - no concept of creating value through clear and fair trade, just rip-off and run.
Makes money for a while, damages countless people and simply put robs them. Disgusting. Selfish. Rude.
There are few businesses I refuse to trade with, but a Foxtons sign guarantees the owner won't get my business. Whatever this guy does next will get the same. I don't know how he sleeps at night with so much cold-blooded money hanging round his neck.
3. icarus said...
Classic newshound rubbage. Hunt doesn't claim to be a guru and he doesn't claim to have anything insightful to say about the future of the property market. Amazing the number of people who think this is just another property crash that will take the same course as the last one or two crashes. Bigger things are happening in world financial markets this time, nobody's sure how long the dollar will hold its position in the world, UK & US are more in debt etc.
4. little professor said...
Fair play to the guy; he sold up at exactly the right time, pocketing £370m when the company is probably worth less than 10% of that now. And in the interview he actually comes across as pretty humble, acknowledging that he got lucky. He's also not ramping up the property market in his predictions. I always thought he was a cnút, but now maybe less so.
5. Dead Spider said...
"I always thought he was a cnút, but now maybe less so" .
He could have simply slipped the columnist a few grand to write a nice , positive article .
Do you forget that BBC documentary where Foxton's staff were being exceedingly dodgy ?
That kind of corporate M.O. comes from the top .
(allegedly)
6. techieman said...
"a good market to sell in. There were lots of people interested. The property market was flying. In retrospect, that was good but at the time, everyone thought it would go on and on".
However he went bottom picking in the US way too soon - which is why he will probably be sidelined at least in property (wouldnt you be?) http://www.cmdbox.com/view/Foxtons_foray_US_ends_37607/
Even for a Guru - bottom picking gives you dirty fingers!
7. mark wadsworth said...
Fair play to him.