Monkey Posted May 27, 2016 Share Posted May 27, 2016 http://m.dailyecho.co.uk/news/14520999.Luxury_estate_agent_collapses_owing___1_million/?ref=fbpg Penyards recorded an operating loss of £131,000 at the end of 2014 and Gavin Savage, director of Begbies Traynors Southampton office said that following the crash of 2008 Penyards had been hit by increased competition, lower fees and on line marketing. Quote Link to comment Share on other sites More sharing options...
200p Posted May 27, 2016 Share Posted May 27, 2016 They sell at the high end of the market, usually in rural, back of the beyond properties, that most people only dream about. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted May 27, 2016 Share Posted May 27, 2016 I thought agents weren't worried about online agents? Bwahaha Quote Link to comment Share on other sites More sharing options...
spyguy Posted May 27, 2016 Share Posted May 27, 2016 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. Quote Link to comment Share on other sites More sharing options...
sideysid Posted May 27, 2016 Share Posted May 27, 2016 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. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted May 28, 2016 Share Posted May 28, 2016 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. Quote Link to comment Share on other sites More sharing options...
reddog Posted May 28, 2016 Share Posted May 28, 2016 (edited) 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 May 28, 2016 by reddog Quote Link to comment Share on other sites More sharing options...
reddog Posted May 28, 2016 Share Posted May 28, 2016 (edited) 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 May 28, 2016 by reddog Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 28, 2016 Share Posted May 28, 2016 Collapse over £1m...is that all. Surely that's chicken feed for anyone in UK property. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted May 28, 2016 Share Posted May 28, 2016 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 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 28, 2016 Share Posted May 28, 2016 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 Quote Link to comment Share on other sites More sharing options...
reddog Posted May 28, 2016 Share Posted May 28, 2016 (edited) 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 May 28, 2016 by reddog Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted May 28, 2016 Share Posted May 28, 2016 Because liquidation isn't always only about avoiding taxes I guess? Quote Link to comment Share on other sites More sharing options...
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