dougless Posted February 28, 2018 Share Posted February 28, 2018 Oh dear - http://www.bbc.co.uk/news/business-43223177 Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted February 28, 2018 Share Posted February 28, 2018 29 minutes ago, dougless said: Oh dear - http://www.bbc.co.uk/news/business-43223177 65% drop to Dec 17 - you do have to wonder what their year to Dec 18 is going to be like. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 28, 2018 Share Posted February 28, 2018 what a beautiful story Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 When they say Quote Estate agent chain Foxtons has reported a slump in profits as it warns of a London housing market near historic lows. I guess they mean in number of transactions, not prices. Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 28, 2018 Share Posted February 28, 2018 11 minutes ago, iamnumerate said: When they say I guess they mean in number of transactions, not prices. Their earning is directly linked to number of transactions. But interestingly, share price at 82.00. Quote Link to comment Share on other sites More sharing options...
thewig Posted February 28, 2018 Share Posted February 28, 2018 “Ebbs” the disgusting beeb must have been up all night coming up with that one Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 13 minutes ago, warrior88 said: Their earning is directly linked to number of transactions. But interestingly, share price at 82.00. Yes I know, I often thought that high prices could be a bad thing in the long run for estate agents as it would mean that people move less and haggle more on the commission, guess I was right. Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 28, 2018 Share Posted February 28, 2018 6 minutes ago, iamnumerate said: Yes I know, I often thought that high prices could be a bad thing in the long run for estate agents as it would mean that people move less and haggle more on the commission, guess I was right. To add to that: online estate agents such as purple bricks are killing the high street EAs. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 2 minutes ago, warrior88 said: To add to that: online estate agents such as purple bricks are killing the high street EAs. That is partly because of the high prices, if my house were worth £80k I would not haggle as much on commission as I would if it were worth £400k. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 28, 2018 Share Posted February 28, 2018 (edited) 18 minutes ago, warrior88 said: To add to that: online estate agents such as purple bricks are killing the high street EAs. Let's hope so. Edited February 28, 2018 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 28, 2018 Share Posted February 28, 2018 1 hour ago, Mrs Bear said: 65% drop to Dec 17 - you do have to wonder what their year to Dec 18 is going to be like. https://www.gov.uk/government/news/government-action-to-end-letting-agent-fees Lettings fee ban due sometime early to mid 2019 I believe.Will be brutal on their bottom line-if they still have one. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted February 28, 2018 Share Posted February 28, 2018 1 hour ago, dougless said: Oh dear - http://www.bbc.co.uk/news/business-43223177 Prize for stating the obvious. ' In 2017, revenues at its lettings business fell 3%. The firm said that government plans to ban fees charged to tenants were likely to hit its business model. ' Quote Link to comment Share on other sites More sharing options...
thewig Posted February 28, 2018 Share Posted February 28, 2018 "Though at this stage it is unclear exactly what the legislation will look like, we are exploring ways to mitigate the impact," said chief executive Nic Budden. who employed this guy? Quote Link to comment Share on other sites More sharing options...
longgone Posted February 28, 2018 Share Posted February 28, 2018 11 minutes ago, thewig said: "Though at this stage" Did they think 0.25% and cheap money would last forever. no bigger plan at all. Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted February 28, 2018 Share Posted February 28, 2018 53 minutes ago, iamnumerate said: That is partly because of the high prices, if my house were worth £80k I would not haggle as much on commission as I would if it were worth £400k. Funnily enough... Just putting family home on market due to under occupation (only Mrs HB42 there full time, boys abroad). c. £400k Agent starting punt was only 0.9% + VAT. Refused that and instead offered £1500 plus 2% of excess over £350k. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 10 minutes ago, longgone said: Did they think 0.25% and cheap money would last forever. no bigger plan at all. Actually a HPC and more sales would probably be better for them. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 35 minutes ago, TonyJ said: I don't think EAs are particularly intelligent people. They are spivs, who cannot see the bigger picture. True for most politicians or we would not be in this mess. Quote Link to comment Share on other sites More sharing options...
longgone Posted February 28, 2018 Share Posted February 28, 2018 7 minutes ago, iamnumerate said: True for most politicians or we would not be in this mess. they can only see as far as their bank balance. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 28, 2018 Share Posted February 28, 2018 Ebbs, does that mean collapse ? Quote Link to comment Share on other sites More sharing options...
Mrs Bear Posted February 28, 2018 Share Posted February 28, 2018 3 hours ago, TonyJ said: I don't think EAs are particularly intelligent people. They are spivs, who cannot see the bigger picture. Do be fair, they're not all spivs. There are some Tim-Nice-But-Dim(s) too. Quote Link to comment Share on other sites More sharing options...
bivvy Posted February 28, 2018 Share Posted February 28, 2018 5 hours ago, stuckmojo said: what a beautiful story yes it makes you fell good all over! Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted February 28, 2018 Share Posted February 28, 2018 4 hours ago, hotblack42 said: Funnily enough... Just putting family home on market due to under occupation (only Mrs HB42 there full time, boys abroad). c. £400k Agent starting punt was only 0.9% + VAT. Refused that and instead offered £1500 plus 2% of excess over £350k. Even 0.9% is a lot less than they used to want (they wanted a bit more IIRC but didn't get it) for selling my flat which was not worth anything like that in 2006. Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted October 31, 2019 Share Posted October 31, 2019 Quote Revenues at London-based estate agent Foxtons have fallen as the housing market in the capital continues to weaken. Third quarter revenues fell 7% to £32.5m, and for the first nine months of the year are down 5% to £83.6m. Foxtons said sales in London were hit by "ongoing political uncertainty", and sales revenue for the quarter dropped 15% to £8.4m. Its lettings business held up better, although Foxtons said the tenant fee ban - which prevents letting agents from charging fees to tenants when setting up or renewing a tenancy agreement - meant revenue on that side of the business slipped 4%, to £22.1m. Chief executive Nic Budden said: "Overall, this was a resilient performance set against the London sales market which continues to deteriorate and the impact of the tenant fee ban on our lettings business." Quote Link to comment Share on other sites More sharing options...
dougless Posted October 31, 2019 Author Share Posted October 31, 2019 Ho, ho, ho Quote Link to comment Share on other sites More sharing options...
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