Alfie Moon Posted December 12, 2009 Share Posted December 12, 2009 (edited) It would seem, despite the price rises, Estate Agents are still going bust at a decent pace. See: http://www.ft.com/cms/s/0/5c2a5d48-e67b-11de-98b1-00144feab49a.html One in six estate agency offices across the UK’s major cities have shut this year as the housing crash has continued to batter the industry. Although house prices have seen a bounce in the past few months, the level of transactions remains low, which has meant that there is little of the churn needed to generate fees. + An analysis of the top 10 cities by the Local Data Company shows that 142 of 900 estate agents closed during the period, or about 16 per cent, with just a single store reopening. The estate agents that operate chains – those with five shops or more – were proportionately the hardest hit, with 54 of 322 chain outlets closing. About 89 of the 578 independents shut during the period. + This made me laugh!! James Moss, director at Curzon Investment Property, a boutique property management company, said that estate agents needed to sharpen up their image. He said: “The closures are a direct result of the property crash, but the other huge problem we have is that people see estate agents more like window salesmen than doctors.” + The office closures are likely to be unrepresentative of the cuts in jobs in the industry, however, with some estimates suggesting that the number of agents has fallen from about 55,000 in 2007 to about 35,000 now. One agent head said: “This is because the main costs are staff and offices that had 5 people in are now functioning with one man and a dog.” So about 36% of the Estate Agency workforce have lost their job. What will it be by the end of 2010? Edited December 12, 2009 by Alfie Moon Quote Link to comment Share on other sites More sharing options...
righttoleech Posted December 12, 2009 Share Posted December 12, 2009 More like window salesman than doctors? I see them as more like scrap gold charlatans than window salesmen. Quote Link to comment Share on other sites More sharing options...
ken_ichikawa Posted December 12, 2009 Share Posted December 12, 2009 I had plenty of anedotals from when I used to do the accounts of estate agents, they were all in deep doo doo, yet they still spent like there was no tommorow changing cars yearly not cheap cars either those Audi TTs are most definately not cheap. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 12, 2009 Share Posted December 12, 2009 Less of the estate selling, more of the letting and managing, to keep heads above water. Quote Link to comment Share on other sites More sharing options...
puppee Posted December 12, 2009 Share Posted December 12, 2009 now that is just plainly insulting window salesmen/women estate agents are just pond life no actually thats unfair on real pondlife roll on when google opens its property website and then we won't need these a***holes at all Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted December 12, 2009 Share Posted December 12, 2009 I had plenty of anedotals from when I used to do the accounts of estate agents, they were all in deep doo doo, yet they still spent like there was no tommorow changing cars yearly not cheap cars either those Audi TTs are most definately not cheap. gotta present an image of success...right up to the meeting at the receivers. Quote Link to comment Share on other sites More sharing options...
LaraCroft Posted December 12, 2009 Share Posted December 12, 2009 Apart from adding to the unemployment numbers this is pretty good news. In most villages, towns and cities there are far too many EAs when you only need a few to encourage healthy competition. Hopefully the unoccupied shops will be taken up by someone who provides a service and they are not just left vacant (otherwise "Apart from adding to the unemployment numbers and the possibility of empty shops in our high streets ......"). Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted December 12, 2009 Share Posted December 12, 2009 Apart from adding to the unemployment numbers this is pretty good news. In most villages, towns and cities there are far too many EAs when you only need a few to encourage healthy competition. Hopefully the unoccupied shops will be taken up by someone who provides a service and they are not just left vacant (otherwise "Apart from adding to the unemployment numbers and the possibility of empty shops in our high streets ......"). competition?...no-one NEEDS andEA...the competition is between the sellers and buyers of houses. Quote Link to comment Share on other sites More sharing options...
Timm Posted December 12, 2009 Share Posted December 12, 2009 All in all, it looks like another cold Christmas for EAs. Quote Link to comment Share on other sites More sharing options...
LaraCroft Posted December 12, 2009 Share Posted December 12, 2009 competition?...no-one NEEDS andEA...the competition is between the sellers and buyers of houses. Agree that no-one needs them (just like we don't NEED removals companies) but it does make life easier. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted December 12, 2009 Share Posted December 12, 2009 Agree that no-one needs them (just like we don't NEED removals companies) but it does make life easier. removals companies are needed. I cant move a whole house of furniture on my own. Indeed, having 4 guys do it, you get a market efficiency in that you dont have to employ 4 guys except when you need them. EAs on the other hand? Quote Link to comment Share on other sites More sharing options...
Byron Posted December 12, 2009 Share Posted December 12, 2009 There are times when you do need an EA. Twice I have had to sell a house when I was living 50 miles away because of job transfer. Also, I am hopeless at dealing. I recognise my shortcoming and employ someone to do it for me. Quote Link to comment Share on other sites More sharing options...
darwin Posted December 12, 2009 Share Posted December 12, 2009 http://www.ft.com/cms/s/0/5c2a5d48-e67b-11de-98b1-00144feab49a.html "...people see estate agents more like window salesmen than doctors.” Really? I always thought people see estate agents more like scumsucking bottom feeders than doctors. You learn something new every day, don't you? Quote Link to comment Share on other sites More sharing options...
LaraCroft Posted December 12, 2009 Share Posted December 12, 2009 removals companies are needed. I cant move a whole house of furniture on my own. Indeed, having 4 guys do it, you get a market efficiency in that you dont have to employ 4 guys except when you need them. EAs on the other hand? Well I actually could move a whole house of furniture on with the help of a couple of mates and a van. Some people would say that they couldn't find a house let alone buy one without the help of an estate agent. Fine, you have obviously bought a few houses yourself but for those who haven't it is a very daunting prospect. I am standing into danger of being called an Estate Agent here and no bear will believe that I am not one - I'm not though. Quote Link to comment Share on other sites More sharing options...
geoffk Posted December 12, 2009 Share Posted December 12, 2009 a troll..yes Quote Link to comment Share on other sites More sharing options...
LaraCroft Posted December 13, 2009 Share Posted December 13, 2009 a troll..yes Good post Geoff. Quote Link to comment Share on other sites More sharing options...
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