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yawnIHateSundays

Local Papers Stopped Property Listings

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We get 2 free local papers which cover the Reading area. For as long as we have been here (since 1991) they have had a property section every week - usually running to 20 or more pages.

This week, both had no property section... I'm actually quite surprised, despite it being patently obvious that nothing much is selling round here.

Anyone else seen this?

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School holidays start in most places this w/e. Maybe they think no-one will be interested for a couple of weeks. As if they were last week :rolleyes:

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We get 2 free local papers which cover the Reading area. For as long as we have been here (since 1991) they have had a property section every week - usually running to 20 or more pages.

This week, both had no property section... I'm actually quite surprised, despite it being patently obvious that nothing much is selling round here.

Anyone else seen this?

Yes.

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Very odd, I thought that the beginning of the summer holidays was one of those busy periods in the Estate Agency calendar. It used to be that you try and get everything tied up in the holidays so the kids could start at a new school in September.

Our property section is less than half the size it was this time last year, but EAs are putting less properties per page (which I think is V odd, as you'd think they'd get as many adverts per page as poss to save money/show vendors they were doing something) and in the last couple of weeks have even seen new advertisers appear!

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those big ads can be 3/4K a throw per week, in, for example, the Reading area you'd probably need each week; 1 sale to cover the ad, 1 sale to cover office expenses/overheads and 2 sales to cover wages. Given most of these agents are now selling only 2 properties per week (and that number is falling fast) they have to cut costs now. It really is the most stupid of business models isn't it? Take picture of house, put it in window, people come shopping for houses...

Edited by Converted Lurker

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We get 2 free local papers which cover the Reading area. For as long as we have been here (since 1991) they have had a property section every week - usually running to 20 or more pages.

This week, both had no property section... I'm actually quite surprised, despite it being patently obvious that nothing much is selling round here.

Anyone else seen this?

Yes, I noticed that too. Sadly that was the only bit I read, so now the wednesday Reading Evening Post goes straight in the red bin.

SC

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Our local paper has had a much reduced property section for the last 2 weeks. Also we had our first case of an estate agent closing last week, and a second one has closed this week. The latter has closed for one week, as stated in a notice on the door. Very odd.

Have EA's finally seen the writing on the wall and have come up with a collaborative strategy to effectively go on strike to get vendors to reduce asking prices?

Edited by blankster

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Yes our local paper has definitely cut back on property advertising.

I wonder if the housing crash will finish off a lot of local press in this country since a lot of their income in recent years must have come from estate agents.

Old fashioned media has been living on borrowed time anyhow.

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Simple isnt it, turnover goes down, sensible businesses look to cut costs. Where is the least return in terms of cost? Well get rid of jane the new girl (although she looked nice) and cut down or stop the 30-50k a year newspaper ads. Result Estate agents buy time/see out the worst of this market. This is happening everywhere because the adverts have been a luxury to keep vendors happy; most papers have kept prices high as they usually operate some form of monopoly, kiss goodbye to the property sections folks.

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Guest Mr Parry
Simple isnt it, turnover goes down, sensible businesses look to cut costs. Where is the least return in terms of cost? Well get rid of jane the new girl (although she looked nice) and cut down or stop the 30-50k a year newspaper ads. Result Estate agents buy time/see out the worst of this market. This is happening everywhere because the adverts have been a luxury to keep vendors happy; most papers have kept prices high as they usually operate some form of monopoly, kiss goodbye to the property sections folks.

That'll save some trees.

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Exactly the same thing has happened up here (Cheshire).

We have a local paid-for paper and its free sister each week. The property section in the free paper is half the size that it used to be, with most local independent agents no longer present. Only the large chains remain. The paid for paper last week carried no estate agents ads at all!

Ads in papers must be a very inefficient medium. Surely everyone uses th'internet these days.

I wonder if we will ever see their return?

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Guest sillybear2
Simple isnt it, turnover goes down, sensible businesses look to cut costs. Where is the least return in terms of cost? Well get rid of jane the new girl (although she looked nice)

But I'm already in love with Jane :(

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Advertising one of the easiest ways to waste money.

I love the people who think ITV is free, no everytime you buy product advertised on TV your paying for it. It isn't free. How estate agents work has certainly inflated house prices.

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those big ads can be 3/4K a throw per week, in, for example, the Reading area you'd probably need each week; 1 sale to cover the ad, 1 sale to cover office expenses/overheads and 2 sales to cover wages. Given most of these agents are now selling only 2 properties per week (and that number is falling fast) they have to cut costs now. It really is the most stupid of business models isn't it? Take picture of house, put it in window, people come shopping for houses...

I have heard that about 90% of enquiries to EAs come from people checking the Internet first. The photos in the windows are barely required, adverts in freeby papers merely advertise that they are still in business and satisfy the curiosity of the nosey neighbours. Most EAs these days just need an office for admin and a mobile phone. Thats why so many EAs abroad don't even have premises.

As long as they have their own website and use rightmove, they seem to think that everyone will come running. :rolleyes:

Edited for typos

Edited by Stourbridge Baggie

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Ok i'm listening, I've put a hold on Janes departure for now, but dont expect to see your house in the paper for the next 6 months, and, no, I wont be willing to traipse 20 miles to carry out viewings for you whilst your sunning it abroad, IM not getting a holiday this year (i can hear the sympathetic groans).

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  • 399 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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