Northampton

[HouseDog]

OB were taking over the world at one point. Have many of their branches closed ? I only ever noticed their town and country has branch closed ( on the market square), that turned into a william hills bookmakers, ironically you've more chance of wining on the gee-gees than houses at the moment

Their website has this:

The leading estate agent 'O'Riordan Bond will agree sales on in excess of £25,000,000 worth of property during 2009. '

its 2011 guys!

and this:

All sixteen O’Riordan Bond offices use the latest broadband technology to work off a single database which means each property is instantly marketed from all O’Riordan Bond branches in Northamptonshire and Buckinghamshire the minute it goes onto the market.

Do they still have 16 branches?

Edited September 1, 2011 by HouseDog

[TheCountOfNowhere]

From Yell:

75, St. Leonards Rd, Northampton

249, Wellingborough Rd, Northampton

22, Alexandra Terrace, Harborough Rd

229, Birchfield Rd East, Northampton

2, Squirrel Lane, Northampton , NN5 6JH

Unit 2, Mereway Shopping Centre, Northampton

17a, Weston Favell Centre, Northampton

Independant House, Unit 1-2, Wilks Walk, Northampton

103, Northampton Rd, Northampton

That's 9 in Northampton.

5, Granville Square, Milton Keynes

16, Fyfield Barrow, Milton Keynes

Kiosks 1-2, Westcroft District Centre, Milton Keynes ,

36, Benbow Court, Milton Keynes , Buckinghamshire

76, High St, Milton Keynes

and 5 in MK.

That's 14 from Yell, so not far our. Dunno how many are open or closed. I might have missed a couple I guess as the yell search mixes them together with other EAs.

From BT says they have 8 in Northampton ( 12 addresses but 4 are duplicated )

22 Alexandra Ter, Northampton, NN2 7SJ

Weston Favell Cntr, Northampton, NN3 8J

2 Squirrel La, Northampton, NN5 6JH

75 St. Leonards Rd, Northampton, NN4 8DN

Unit 2 Mereway, NN

249 Wellingborough Rd, Northampton, NN1 4EH

229 Birchfield Rd East, Northampton, NN3 2

Unit 2 Wilks Wlk, Grange Park, Northampton, NN4 5DW

And 4 in MK:

36 Benbow Ct, Shenley Church End, Milton Keynes, MK5 6JG

Unit 1-2 Westcroft District Centre, Westcroft, Milton Keynes, MK4 4D

5 Granville Sq, Willen, Milton Keynes, MK15 9JL

16 Fyfield Barrow, Walnut Tree, Milton Keynes

Making 12.

Though BT not reliable as it missed the Walnut tree one off my initial search, so it's impossible to say really.

I wouldn't image many people look at the EA websites any more it'a all rightmove.

Anyone know of any closed EA offices recently ?

I'd be surprised is OB were in trouble, they are about the only agents i'd use to sell a house if I were selling.

Edited September 1, 2011 by TheCountOfNowhere

[TheCountOfNowhere]

The leading estate agent 'O'Riordan Bond will agree sales on in excess of £25,000,000 worth of property during 2009. '

That 25 million, at an average price of 150 K, say, would be 166 house. That's about 10 per year per office, that's less than 1 a month.

Commission on 150K house sale of 1.5% = £2250....doesn't sound enough to keep an office going.

Even commission of 2% on 25,000,000 would be £500,000. Again split between 16 offices would be £31250....hardly enough to cover the rent/rates/bills i'd imagine.

The statement is open for interpretation too....it says "will" instead of "did" and it says "agree sales" rather than "actually sold".

If the sales volumes are now back to 2009 levels we really should see some E.A.s having to hammer down prices to get sales...resulting in huge price drops.

They also state:

"£300,000 is allocated to marketing O’Riordan Bond properties each year, more than any other local independent agent. Over fifteen colour pages of advertising are taken each week in the Northampton Chronicle and Echo and Milton Keynes."

That £300K off £500K and it only leaves 200K profit. That doesn't add up...anyone want to check those figures ?

Edited September 1, 2011 by TheCountOfNowhere

[HouseDog]

I've not seen these rental agency reviews before: http://www.allagents.co.uk/town-search/Northampton/

[TheCountOfNowhere]

Here's one for exiges....aren;t you looking in the North Northants area ?

http://www.rightmove.co.uk/property-for-sale/property-33949634.html

02 September 2011

* Status changed: from 'Sold STC' to 'Available'

19 May 2011

* Initial entry found.

Im sure this went SSTC a long time ago, big old plot 2 acres !!!

[TheCountOfNowhere]

P.S is it my imagination or are asking prices tumbling and sales-a-plenty falling through this week ?

[exiges]

Here's one for exiges....aren;t you looking in the North Northants area ?

North, South.. anywhere.. if the price is right ! I've seen that house before, looks a bit stark and austeer, the real killer is that it's on a busy A-road, ideal if you're running a business like they are, but with a 3yr old I'd be always fretting that he'd get out on the road.

This one has dropped from over the £1m mark, sure it was £1.1m http://www.rightmove.co.uk/property-for-sale/property-19875426.html

Does anyone know anything about Wollaston ? I saw this and quite liked it http://www.rightmove.co.uk/property-for-sale/property-19868721.html it's a bit of kite flying because it was bought for £100k less in November 2006 and looks like they've done nothing with it.

I've never been out that way, so maybe I'm being unfair on it, but it never conjurs thoughts of leafy villages.

Edited September 5, 2011 by exiges

[TheCountOfNowhere]

North, South.. anywhere.. if the price is right ! I've seen that house before, looks a bit stark and austeer, the real killer is that it's on a busy A-road, ideal if you're running a business like they are, but with a 3yr old I'd be always fretting that he'd get out on the road.

This one has dropped from over the £1m mark, sure it was £1.1m http://www.rightmove.co.uk/property-for-sale/property-19875426.html

Does anyone know anything about Wollaston ? I saw this and quite liked it http://www.rightmove.co.uk/property-for-sale/property-19868721.html it's a bit of kite flying because it was bought for £100k less in November 2006 and looks like they've done nothing with it.

I've never been out that way, so maybe I'm being unfair on it, but it never conjurs thoughts of leafy villages.

I had a drive that way a few weeks ago and the country side is lovely round that way.

Communication links not so handy, but hardy a long way from the M1 really.

That's a nice house, but as you say it's a bit of a p**s take when you know the land registry figure is a2004 levels, it sold for 100K less in 2006 and you are trying to sell it at top whack ( see my main forum thread on when knowing over-valuing a house become fraud ).

I think a lot of the agents are living off sales of these peak priced properties, some egyts ( moving out of London ) must have been buying them.

I remember talking to one agent last year and he was proudly telling me he was fooling people in to buying at peak prices !!!!

[exiges]

That's a nice house, but as you say it's a bit of a p**s take when you know the land registry figure is a2004 levels, it sold for 100K less in 2006 and you are trying to sell it at top whack

Well, we're viewing it tomorrow and I shall be asking what they've done since purchase to justify the £100k increase. I suspect "the square root of feck-all" will be the answer.. maybe some twigs.

Edited September 5, 2011 by exiges

[gasket37]

Its difficult to tell from the limited data - but if I was in the estate agency business I would prefer to working for Jackson Grundy. I think they must have the biggest market share now.

than

thanks for the companycheck.co.uk link - very interesting.

i don't post much on this website and especially this thread as i've realised i'll never own a house in this country.

anyhoo i think i can help a bit with limited data aspect as there another website called levelbusiness.com which allows one to download sets of abbreviated accounts for free which have been submitted to companies house.

and what interesting stuff one can find! i haven't got time to look at all the agents but ORB look particularly interesting

- nice fall in turnover there from £3.3m to £2.7m

- there are chunkly accumulated losses of £440K & the balance sheet is overdrawn.

- the directors have chucked in £77K as a loan to the company.

the 2011 a/cs are due in by 01.01.12 so hopefuly GT will submit them soon - they should be interesting reading...

the money is punted across via a management charge to the holding co. and paid out in divis to bond and o'riordan

- £117K each last year. nice work if you can get it. so things aren't as bad as they look as they could always

decrease the management charge, upto a point i guess.

perhaps someone ought to start a thread on the main forum - "financially analyse the estate agent you love to hate."

good luck all.

[HouseDog]

anyhoo i think i can help a bit with limited data aspect as there another website called levelbusiness.com which allows one to download sets of abbreviated accounts for free which have been submitted to companies house.

Hi Gasket37 ..

Hope your doing OK . I'd missed your posts and budget avatar!

Your link www.levelbusiness.com is F****** marvellous! What a find for free.

I shan't get any sleep now .. Thanks again

Edited September 6, 2011 by HouseDog

[exiges]

Well, we're viewing it tomorrow and I shall be asking what they've done since purchase to justify the £100k increase. I suspect "the square root of feck-all" will be the answer.. maybe some twigs.

Well, had the viewing.. The EA asked our thoughts, I said I liked it but given it was bought at the peak in 2006 and I couldn't see why it was worth a penny more than that. The EA didn't flinch, and said she understood, and we just needed to put in an offer. Unfortunately, I don't think I can convince the missus to like it.

Edited September 6, 2011 by exiges

[TheCountOfNowhere]

Well, had the viewing.. The EA asked our thoughts, I said I liked it but given it was bought at the peak in 2006 and I couldn't see why it was worth a penny more than that. The EA didn't flinch, and said she understood, and we just needed to put in an offer. Unfortunately, I don't think I can convince the missus to like it.

I think the E.A.'s know exactly what the houses are worth.

[exiges]

Went back for a second viewing today, now the rain has stopped and the sun is out the missus looked at it in a different light and really likes it now.. so we've put an offer in. The EA didn't flinch at our offer and is putting it to the vendor.

[TheCountOfNowhere]

Went back for a second viewing today, now the rain has stopped and the sun is out the missus looked at it in a different light and really likes it now.. so we've put an offer in. The EA didn't flinch at our offer and is putting it to the vendor.

Good luck.

[exiges]

Good luck.

Offer rejected.. but that's how the first round of negotiations go, who would accept the first offer ?

The EA said the vendor doesn't want to lose money on their property. I told the EA that the property has gone down in value since they bought it and haven't spent money on improvements, so it's hard to see why it'd be worth what they paid. We increased our offer slightly as a gesture of goodwill, and we'll leave it at that.

[TheCountOfNowhere]

Offer rejected.. but that's how the first round of negotiations go, who would accept the first offer ?

The EA said the vendor doesn't want to lose money on their property. I told the EA that the property has gone down in value since they bought it and haven't spent money on improvements, so it's hard to see why it'd be worth what they paid. We increased our offer slightly as a gesture of goodwill, and we'll leave it at that.

Hi Exiges, sounds like exactly what I would do.I might even have played hard ball and just done the one offer. Out of curiosity private message me if you can and let me know what % below asking you put in.

It's refreshing that the agent is happy to put your offer in, a real sea-change the 2nd half of the year by the looks of it.

I'm sure the vendor doesn't want to make a loss on a house, but as you point out prices have dropped since 2006, we are back at 2004 prices. Better they take a loss than you do :-)

[exiges]

Hi Exiges, sounds like exactly what I would do.I might even have played hard ball and just done the one offer. Out of curiosity private message me if you can and let me know what % below asking you put in.

The EA called to say there was another viewing on the property today, they put in an offer which is in excess of ours.. and now the vendor wants a better offer from me. (the other party isn't in as strong position.. I think they're in a chain and require a mortgage).

I said that since the market hasn't risen since their purchase, and that they've not added value, it's hard to value it at more than I've offered, so I won't be raising my offer. I said we're looking to move in somewhere before Christmas so we'll be putting in offers for various places and it'd be a shame if after we've moved on the vendor thinks he should have taken our offer.

[TheCountOfNowhere]

The EA called to say there was another viewing on the property today, they put in an offer which is in excess of ours.. and now the vendor wants a better offer from me. (the other party isn't in as strong position.. I think they're in a chain and require a mortgage).

I meant to say...I bet the E.A. would magic up a better mystery offer from somewhere !!!!!

I'd ask for it all in writing.

I said that since the market hasn't risen since their purchase, and that they've not added value, it's hard to value it at more than I've offered, so I won't be raising my offer. I said we're looking to move in somewhere before Christmas so we'll be putting in offers for various places and it'd be a shame if after we've moved on the vendor thinks he should have taken our offer.

Well played.

P.S. Will be interesting to see how Richard Greeners auction went:

http://www.auctionhouse.uk.net/Auction-results.aspx?AuctioneerID=40

did anyone go ?

I'df laugh if the number of sales drops to 1 ( or better 0 ).

Edited September 7, 2011 by TheCountOfNowhere

[exiges]

I meant to say...I bet the E.A. would magic up a better mystery offer from somewhere !!!!!

Well played.

The trouble is, there's pent up demand for houses at a decent price, so whenever something comes on the market there's an initial flurry of interest from people who've been waiting years (like us) hoping the vendors are going to let it go at a sensible price..

The property we're interested in has only just come on the market and the vendor is flush with people wanting to view, so they're in no rush to start discounting so soon.. if it had been on the market a few months with no viewings after the first weeks then the vendors maybe more receptive to offers.

I suspect like the Scaldwell house we were interested in a few weeks back we'll have to sit back and let the "we'd pay full asking if only we could get funding" brigade wear the patience of the vendor first then come back.

In the EAs defence, they didn't snigger at our offer, or say or offers were unlikely to succeed, they sounded optimistic if anything, and said we were in an enviable position for vendors.

Edited September 7, 2011 by exiges

[TheCountOfNowhere]

Remember my prediction for richard greener auction...the last two sales were:

Thursday, 26 May 2011 6 50% £532,500

Thursday, 17 March 2011 7 100% £1,712,500

I think I predicted this time they might get 25%, well I was wrong !!!!! I was way out:

http://www.auctionhouse.uk.net/Auction-results.aspx?AuctioneerID=40

Wednesday, 7 September 2011 10 0% £0

Hopefully they wont update that. That's made my day....week...summer.

[TheCountOfNowhere]

Remember my prediction for richard greener auction...the last two sales were:

Thursday, 26 May 2011 6 50% £532,500

Thursday, 17 March 2011 7 100% £1,712,500

I think I predicted this time they might get 25%, well I was wrong !!!!! I was way out:

http://www.auctionhouse.uk.net/Auction-results.aspx?AuctioneerID=40

Wednesday, 7 September 2011 10 0% £0

Hopefully they wont update that. That's made my day....week...summer.

Short lived hapiness...now says sold 80%

[HouseDog]

Remember my prediction for richard greener auction...the last two sales were:

Thursday, 26 May 2011 6 50% £532,500

Thursday, 17 March 2011 7 100% £1,712,500

I think I predicted this time they might get 25%, well I was wrong !!!!! I was way out:

http://www.auctionhouse.uk.net/Auction-results.aspx?AuctioneerID=40

Wednesday, 7 September 2011 10 0% £0

Hopefully they wont update that. That's made my day....week...summer.

The link has been updated!

[TheCountOfNowhere]

The link has been updated!

[/quote}

Yip, saw that. Looking at what was for sale, I am officially amazed, 0% would have been more believable

[HouseDog]

Yip, saw that. Looking at what was for sale, I am officially amazed, 0% would have been more believable

Some seem to have gone for very high prices - far more than their worth.