The Closing Down Estate Agents Thread

[0q0]

As mentioned in a rambling post from me a few weeks ago, this agent previously claiming to be one of the most successful buy and let agents in the area, has gone at least in physical presence. Notice on shop door referring to what sounds like a lawyer.

Website still up - looks as if it's become a telesales operation only.

Oh and they've dropped the fax line.

Things must be starting to get tough.

Bri will know who I mean, a few doors from WH Smith and the Heart Foundation shop.

But we'll mention no business names as that'd be pointless - it's on the Herts border with London. Affluent place.

[BarnetBear]

But we'll mention no business names as that'd be pointless - it's on the Herts border with London. Affluent place.

Ah yes, I know the place.

The agent you are referring to has had their office closed since December 2007. Around that time I noticed a liquidation notice in the local paper, with the creditors meeting scheduled for 21st December. Around Christmas/New Year time, there was a sign up in the window along the lines of "closed due to staff sickness, please call our Mill Hill branch". AFAIK, they never had a Mill Hill branch, but the number on their website changed from the previous number.

Prior to the afore unmentioned orange EA operating from that office, there was another orange EA operating under another name. I understand they also liquidated, and yet the name is still in use for a company selling property in the Costa del Sol region.

Edited April 29, 2008 by BarnetBear

[0q0]

Ah yes, I know the place.

The agent you are referring to has had their office closed since December 2007. Around that time I noticed a liquidation notice in the local paper, with the creditors meeting scheduled for 21st December. Around Christmas/New Year time, there was a sign up in the window along the lines of "closed due to staff sickness, please call our Mill Hill branch". AFAIK, they never had a Mill Hill branch, but the number on their website changed from the previous number.

Prior to the afore unmentioned orange EA operating from that office, there was another orange EA operating under another name. I understand they also liquidated, and yet the name is still in use for a company selling property in the Costa del Sol region.

Thanks for posting, BB.

If you go to their website you'll see they're still listing properties, but no mention of any branches! Get in touch by phone or email form only, it seems. Perhaps a kitchen table is now HQ. I shouldn't laugh.

They seem to have had a Mill Hill address, did a check on Google.

All quite a puzzle in some ways, but on the face of it looks like a scale down operation at the very least.

Edited April 29, 2008 by The Last Bear

[Carld]

hmm weird just had a local small bussiness one open near me....... think they jumped on board too late or are expecting the crash to create lots of quick cheap sales for them

[Solarscape]

This one went under in Bristol a few months ago. My heart bleeds.

http://www.thisisbristol.co.uk/displayNode...;pNodeId=241968

[Salty]

But what will the droves of unemployed gel-haired spivs do for a living?

There's only so many places available on 'The Apprentice'.

[0q0]

But what will the droves of unemployed gel-haired spivs do for a living?

There's only so many places available on 'The Apprentice'.

(become mobile phone shop sales staff?)

[bkkandrew]

Anyone got any info on whether Stags in the West Country have closed any branches yet?

[BarnetBear]

All quite a puzzle in some ways, but on the face of it looks like a scale down operation at the very least.

The company number given on their website (04267771) is shown at Companies House as Status: Liquidation, with a wind up date of 21-12-07. A couple of weeks ago, via Google, I found them listing a property on Gumtree, and the advert appeared to be from this year. I can't find it any more, but that is some scaling down! I'm unsure as to whether a company can trade after it has been wound up.

Another Barnet EA has recently bitten the dust. I noticed a couple of days ago that Haart / Spicer Haart in New Barnet had shut up shop. 7-8 years ago they also had a High Barnet branch which shut up shop many years ago to became an Independent EA. Now they have no Barnet office at all, possibly they are covering the area from their Southgate branch, if it is still there.

[Crashman Begins]

Ha

And some estate agent representative on the BBC this morning, said that only one estate agent company

had closed some of its branches down.

Will find link if possible.

[bazzzzzzz]

Story in recent edition of Shropshire Star:

Property firm axes branches

A Shropshire-based estate agency has become one of the first victims of the credit crunch in the county, closing four of its six offices.

Directors at Monks Chartered Surveyors, which has its main office in Shrewsbury, yesterday agreed to go into voluntary liquidation and branches in Welshpool, Knighton, Leominster and Hereford closed at 3pm.

They said the decision had to be made because not enough houses are being sold. Ten staff have been made redundant but 16 will be kept on with the firm.

The firm hopes to keep the Shrewsbury and Wem

[Slumpmonkey Returns]

Ha

And some estate agent representative on the BBC this morning, said that only one estate agent company

had closed some of its branches down.

Will find link if possible.

Yes, I saw that! I was shouting at the TV screen. As usual the BBC asked two property VI's to come in and discuss falling sales and falling prices. The Hometrack guy was at least trying to be realistic and encouraged vendors to lower the prices.

The old scraggy VI bint you refer to was in complete denial and used the old "we are a small island with a growing population" s h i t.

One of the "imapartial" newsreaders (the female) asked the "panel" to confirm that now is a great time to get into BTL as rental demand is rocketing! :angry: I despair and I would complain if I thought it would do any good.

Once the again the McStalin Broadcasting Corporation demonstrate their brilliant impartial investigative reporting skills. :angry:

The worst thing is we have to pay for this clueless s h i t! :angry: :angry: :angry:

Edited May 24, 2008 by SlumpmonkeyII

[bazzzzzzz]

http://www.guardian.co.uk/business/2008/ma....economicgrowth

One shop lies completely silent and empty; the name of its previous occupant is still above the window, but the door is locked and the unopened mail is gathering on the floor. Harris & Co closed its doors a few weeks ago, the second estate agency in a matter of months to shut up shop in Ely.

Neighbouring shopkeepers say it happened overnight. Around the corner on St Mary's Street, another estate agency, Januarys, lies empty, the building covered in scaffolding. It shut its doors in February, part of a wider cull by its parent company, Countrywide, which has closed 50 branches this year.

The story is a familiar one, repeated in towns and villages across the country. Last week Reeds Rains, part of property group LSL, which also owns the Your Move network, confirmed that it was axing 15 branches in the north of England.

Spicerhaart, another big chain, has closed seven offices in England and two in Wales, while shares in south of England chain Humberts were suspended nine days ago while it considers the future of its 80 branches.

Business monitoring service Debtwire believes that about 150 estate agents' branches are now closing every week in the UK, victims of a potentially prolonged downturn in the housing market.....

In Hereford, 170 miles west of Ely, a similar story is emerging. Ten days ago, Monks estate agency shut its branch in the centre and two other estate agencies, Haart, part of the Spicerhaart group, and Taylors, have also closed branches in the cathedral city in the past few months. There, house prices have been stagnating since the beginning of the year but, more significantly, the number of properties changing hands has plummeted from 420 a month in August last year to fewer than 130 now, according to the Land Registry.

One Hereford-based estate agent, who asked not to be named, says he finds it 'petrifying' that other estate agents have closed down in the area. However, he points out that Monks 'was only open a year and didn't try to get much business' while Haart was squeezed out by local agents who charged lower fees.

'We are still getting people through the doors, and good-quality property in the right location is still getting interest,' he says. 'But until the first-time buyers come back, nothing will really start up again. There's still a lot of equity but we need new blood - we're waiting for first-time buyers to get their confidence back.'

Mike Lawry owns Interhome, a removals company in Hereford. He says business has been down for the past five or six months.

'The number of inquiries we get has been very much reduced, since Christmas really,' he says. 'Usually there's always a slow start to the year, but this year I'd say we're about 30 per cent down on inquiries, compared with how many we would normally get. We are still getting some business, because we do a lot for the local council, but in the short-term it's very worrying.'

Additional research by Huma Qureshi

[juvenal]

HPC may have recorded this already, apologies if so, but it all adds to the closures pile:

Observer - Cash section 18.05.08

' National Estate agency Haart has closed two offices in Plymouth, and regional agency Bradleys has closed two offices in Devon...'

[0q0]

The company number given on their website (04267771) is shown at Companies House as Status: Liquidation, with a wind up date of 21-12-07. A couple of weeks ago, via Google, I found them listing a property on Gumtree, and the advert appeared to be from this year. I can't find it any more, but that is some scaling down! I'm unsure as to whether a company can trade after it has been wound up.

Another Barnet EA has recently bitten the dust. I noticed a couple of days ago that Haart / Spicer Haart in New Barnet had shut up shop. 7-8 years ago they also had a High Barnet branch which shut up shop many years ago to became an Independent EA. Now they have no Barnet office at all, possibly they are covering the area from their Southgate branch, if it is still there.

I wonder, can a business (eg estate agent) go from being a limited co to sole trader? As that might explain a continued "existence" just minus the Ltd or plc in the name.

Thanks for your post and all the posts, keep 'em comin' !

[juvenal]

HPC may have recorded this already, apologies if so, but it all adds to the closures pile:

Observer - Cash section 18.05.08

' National Estate agency Haart has closed two offices in Plymouth, and regional agency Bradleys has closed two offices in Devon...'

[pepsi]

http://www.kentonline.co.uk/kol08/article/...rticle_id=42484

Estate agent closes branches as business drops off

by Helen Geraghty

A West Kent chain of estate agents has closed its five branches with the loss of 22 jobs.

Tunbridge Wells-based DB Estates told staff of the decision at a meeting, amid a county-wide drop in would-be buyers.

The branches that have closed are the head office in Tunbridge Wells and also offices at Tonbridge, Pembury, Brenchley and Sevenoaks.

Howard Kingsnorth, who lost his job as manager of the Tonbridge branch as part of the redundancies, said the news was a shock to all concerned.

He said: "There was a meeting at the end of the working day. I suppose you always think you are going to go on, but everybody was made redundant."

The firm's business consultant Paul Bentley of PJB Business Development said the company had ceased trading. He said this did not automatically lead to voluntary liquidation as, in theory at least, "somebody could step in and want to do something else with it."

He said: "What they are trying to do is put something in place for the lettings to be looked after, because that is on-going. In terms of the sales there is nothing happening."

Report published 11.46am Monday 2 June 2008

[indebted]

Bairstow Eves have closed two Kent branches recently.

Edited June 5, 2008 by indebted

[Mrs Bear]

But what will the droves of unemployed gel-haired spivs do for a living?

Will they still be able to afford hair-gel? By what % will sales go down, I wonder?

Any bets?

[john beck real estate]

Go outside and take it down. Return it or hold onto it and wait for a knock at the door.

[moonriver]

Heard about this one on the radio this morning.

http://news.bbc.co.uk/1/hi/wales/7439306.stm

[cosmic]

Another one gone, closed within the last 2 weeks.

Anthony J Hope independent estate agents, Gravesend Kent.

[Legal_Landlord]

Connells have closed their office in Loughborough.

The branch office still shows up on their website though

http://www.connells.co.uk/showbranch.asp?t...b=LGH&cs=32

[juvenal]

Grey's - Dorset agents - closed their Lettings agency in Wimborne Road, Poole this week. Was an EA, then Lettings only, then .. gone! They still have other branches locally.

[Red Baron]

But what will the droves of unemployed gel-haired spivs do for a living?

They will be promoted - to street cleaners.