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Luxury Estate Agent Penyards Collapses Owing £1 Million

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They sell at the high end of the market, usually in rural, back of the beyond properties, that most people only dream about.

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I thought agents weren't worried about online agents? Bwahaha

They should be.

Chatting, they'e took 1/3 of the business, and knocked 30% off their fees.

EAs are fcked.

I spent some time exlaining to one I know (via a friend) that they need to move out of the A!, put everything online, and rent a small, out of town office.

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They should be.

Chatting, they'e took 1/3 of the business, and knocked 30% off their fees.

EAs are fcked.

I spent some time exlaining to one I know (via a friend) that they need to move out of the A!, put everything online, and rent a small, out of town office.

With all the self organised services online to take care of the paperwork, EAs will be a thing of the past in the future. Good riddance.

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They sell at the high end of the market, usually in rural, back of the beyond properties, that most people only dream about.

As opposed to the 2-up 2-down terraces in dodgy areas that most people only dream about.

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Sounds a bit dodgy. Assets taken over by a partner in a local law firm (probably known to exist owners). Existing owner's taken on as 'consultants', typically the biggest creditor is HMRC(ie you and me)

If the southern daily echo wants to add some value and stay in business maybe it should call this sort of stuff out.

Edited by reddog

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I'm actually a bit surprised that estate agents have clung on for as long as they have. But I guess it will be a bit like newspaper classified add, one day it seems like a viable business, the next day a tipping point is reached and everything is on the internet.

We could do with a deep pocketed angel investor setting up a company, which would smash the market open, even if that company didnt succeed it would be obvious the market would never go back to how it was before, at that point the innovation could start.

Edited by reddog

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Sounds a bit dodgy. Assets taken over by a partner in a local law firm (probably known to exist owners). Existing owner's taken on as 'consultants', typically the biggest creditor is HMRC(ie you and me)

If the southern daily echo wants to add some value and stay in business maybe it should call this sort of stuff out.

Good idea,get the regional newspapers to take over failing EAs ...a mutual reacharound that cuts both ways

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Good idea,get the regional newspapers to take over failing EAs ...a mutual reacharound that cuts both ways

Phoenix companies....the BBC watchdog program did a piece on them...meanwhile BBC sport actively promote "the rangers" aka "sevco" as the same club as rangers who are liquidated owing tens of millions....go figure

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Phoenix companies....the BBC watchdog program did a piece on them...meanwhile BBC sport actively promote "the rangers" aka "sevco" as the same club as rangers who are liquidated owing tens of millions....go figure

fair point actually, the BBC love highlighting tax avoiders , but the funny thing is when it is reported something has gone into administration owing hmrc millions, it is reported as "hey no biggy it's only hmrc" Edited by reddog

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