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yokel

New Ea Office Opened Up - None Ever Closed

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Just noticed a new EA office in my town - Ross-on-Wye. That makes eight in a town of 10,000.

None ever closed during the time that lots did close in other towns.

Mortgage approval data shows that the total amount to be shared out in commission is still well down so what is happening?

Is it that just as animals migrate further and wider in times of drought and famine, and compete with herds/packs they never had to before, the chains of EAs are having to encroach on each others' patches to try to pick up some business - perhaps opening in new towns, perhaps encroaching on the up market end or down market end rather than stepping aside from someone else's speciality.

Do they all feel very busy because they have so many houses on their books so think that things are fine and dandy?

Has this happened anywhere else?

Y

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It beats me. Someone posted sales figures for CB1 and N1 on here yesterday (historically very low). And I couldn't work out how many are still in business, especially when you take into consideration the overhead of having an office.

It can't be them encroaching on other patches, because that would mean others would be doing the same to then. And it'd balance itself out.

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Thing is, I don't reckon it costs much to start up an estate agents.

So if you've had a couple of people who've been made redundant, if they can get a short term lease on a shop they could sort out an agency in no time.

There must be a lot of eas out there who made redundant and who made a fair bit of money during the boom willing to risk 20k or so to start up their own business.

I don't think the whole eas thing is rocket science (or at least a lot of people in it aren't rocket scientists). So maybe they were'nt smart enough to do their research properly, or maybe its a cheap lease off a mate who otherwise would have the shop empty. You never know with this sort of stuff.

AFAIKT you don't need any training or qualifications to run an agency.

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Just noticed a new EA office in my town - Ross-on-Wye. That makes eight in a town of 10,000.

None ever closed during the time that lots did close in other towns.

Mortgage approval data shows that the total amount to be shared out in commission is still well down so what is happening?

Is it that just as animals migrate further and wider in times of drought and famine, and compete with herds/packs they never had to before, the chains of EAs are having to encroach on each others' patches to try to pick up some business - perhaps opening in new towns, perhaps encroaching on the up market end or down market end rather than stepping aside from someone else's speciality.

Do they all feel very busy because they have so many houses on their books so think that things are fine and dandy?

Has this happened anywhere else?

Y

Lots of them are chartered surveyors, so maybe there's still other work coming in to pay the bills. One of my local estate agents is always wiping his fat sweaty brow dashing from viewing to viewing, giving an impressing of a busyoffice with too much work to handle. The fact that their staffing level has been pared down to the bone may have contributed to that situation.

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Many estate agents can't be bothered to measure the rooms or take a full set of pictures.

Other won't even show you a property unless you've seen their mortgage advisor.

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If its a new one - new office and new people - then its redundancy money.

EAs costs are office and offfice rates + rents.

No sales- no commission.

Offices are rent free for a couple of years. The LL will try and get his money back later.

Rates are about the only cost.

Get some HIstory graduate on the phone - posh accent but not posh parents so no posh job - on NMA.

2 years max before all going t1ts up.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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