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juvenal

Give The Ea A Tip! Says Fergus

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In today's Guardian Money section P 43 Fergus holds forth on backhanding EA's, his empire of foreign tenants and other matters.

I can't get a link to it. Anyone?

Edited by juvenal

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Is this the one?

"Wilson also offered advice to Guardian readers who want to become property investors. His top recommendation? Keep the local estate agents sweet by paying them a large “tip”. He told us: “Go to your friendly estate agent and tell them you want to know about any two-bed mid-terrace house in Park Farm [the estate in Ashford where Wilson began his property empire] immediately after they take instructions. Say: ‘I have £500 in readies for your pocket!’

http://www.theguardian.com/money/2015/jul/11/buy-to-let-budget-tax-profits-mortgage

:angry:

Edited by little fish

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I think the online article has actually been changed since I first read it too. Fergus in his usual arrogant blow fish manner

"“That is what I used to do in Ashford in 2002-2007. I paid the market price but gave a £500 tip. Also, I said: ‘If you cross me and sell me a pup, there will be no more £500.’ Now Mr and Mrs Guardian Reader, I am a telling you the tricks of the trade. If you want to get anywhere in life, jingle the coins. I am sorry if it offends, but money talks.”

Surely admitting bribery is not such a good idea. I do hope the agents who received these cash tips declared them properly. 1000 or so properties at 500 a time fairly adds up.

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Since there are EAs who frequent here - here's a tip for EAs: the high street chain EA business model is not going to be in existence in 10 years' time, maybe sooner. Look for a new job. That tip is free.

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Property developer bribes agents to secure first place in the queue, and possible silencing of competitors...sounds like serious Fraud to me, especially on the sellers.

This is a Serious Crime.

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common practice I expect - offering a finders fee would be a more sensible way to describe it

more sensible still would be to keep quiet about it

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In today's Guardian Money section P 43 Fergus holds forth on backhanding EA's, his empire of foreign tenants and other matters.

I can't get a link to it. Anyone?

Is anyone surprised?

I met someone a year or so ago who called himself a property developer. He told me he did regular deals with EAs - they would tip him the wink about any upcoming repos suitable as BTLs - he had an 'arrangement' with the EAs so that the properties would barely go on the open market, if at all. However he did not rent them out - he tarted them up cheaply and sold them on to BTLers. He told me with great satisfaction that his average profit per deal was 14%.

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I'd love for someone who was interested in one of the houses fergus ended up getting launching a case against the EA and fergus for their loss arising from bribery and corruption. You get Fergus in a witness box and a good QC, and it'll be like watching a talkative suicide.

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common practice I expect - offering a finders fee would be a more sensible way to describe it

more sensible still would be to keep quiet about it

Call it what you want it is a bribe. A non-contractual payment in order to achieve preferential service over other customers and to get an employee to behave differently than he would otherwise have done is still a bribe.

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<Lots of swear words>.

He was supposed to be retiring years ago. From 2009... "don't want telephone calls about a blocked sink" (close to that).

Absolute joke this guy is still around lording it as BTL King; and a trail of ugly sounding incidents (bathroom suite replacement attempt - bill to gas-engineer.. so many more). No one would want to see a clone army of Fred Goodwins running all the banks today; yet that is sort of more preferable than still having Fergus still the big face of BTL; I'm here always thinking the bankers who lent to them should be stripped of their pensions... Fergus still there, acting confidence.. one story after another. Why worry Fergus when billionaires from China are swooning over your portfolio.

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Just because I'm still laughing at this...

They love Fergus back East, or 'Brother Mother Hair Lolita Legs Fat' as they call him.

Here's a documentary crew in Ashford chasing a scoop.

brother-mother-hair.jpg

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I'll give EA a tip...stop being such greedy barstar@s!...I have just looked at some property rentals and not only do they want their 15% off the landlord but they want me to give them £250 admin fees, £50 inventory/check-out fee and £100 every 6 months when I renew the contract....I decided they can stuff their property and I will go for lodging in a private house...greedy vermin!

Anybody know a way of getting a flat rental without going via these vile creatures?

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