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Optimistic Pricing In Edinburgh


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TTD (or anyone else), do you have opinions on the best place to look to see all listed properties in Edinburgh? (This is a follow up to the point you made about not all properties being on espc). Do Rettie etc. really expect people to visit their websites, or is there some general clearinghouse for this information?

thanks,

EC.

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TTD (or anyone else), do you have opinions on the best place to look to see all listed properties in Edinburgh? (This is a follow up to the point you made about not all properties being on espc). Do Rettie etc. really expect people to visit their websites, or is there some general clearinghouse for this information?

You make it sound like an onerous imposition to have to look at more than one website..... c'mon, is it really that difficult, or hard work?

Yes, if you want to see all that Rettie, Savill, Strutt/Parker, Knight Frank, Your Move, RE/MAX, etc have to offer, you should look, in the first instance, at their websites, I reckon. If anyone knows of any other non-ESPC agents that I've missed, feel free to add them to the list.

To a varying extent, they'll also use portals like s1homes, primelocation, findaproperty, and rightmove, but I've found these, in the Lothians, at least, to be hit and miss as to how much of the total they have.

I don't think there's one website that has everything that's for sale, I'm afraid.

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West Lothian to East Lothian in the morning is nowhere near as bad as the other way round... however I do agree in general. The bypass really needs another lane at least. Driving still the cheapest option for now - some guy at my work gets the train in and it costs around £400 per month...!

The problem with Mid/East-Lothian is that you rarely see detached houses for sale, and if you do, the come at a truly ridiculous price...

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You make it sound like an onerous imposition to have to look at more than one website..... c'mon, is it really that difficult, or hard work?

What is onerous is having to look at many websites, and not even knowing which ones those are. Sure, I suppose a person could find a listing of all the estate agents or solicitors or whatever that might list properties for sale in Edinburgh, then try to determine which use espc.com, and from that determine a list of websites one needs to check to find which properties are for sale in Edinburgh. And then check those websites regularly. But yes, this seems quite onerous to me and it seems ridiculous that selling agents haven't devised a better plan -- if for no other reason than that it would be in their interest to do so. But perhaps I have different expectations of what business should do to thrive. I have that 'new world' expectation that they should actually make it easy to buy from you.

EC.

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So what you have is four or five different websites, run by different businesses, who are in competition with each other for your business.

If you want to buy a new car, do you find Mercedes, Vauxhall, VW, Ford etc all collaborating on one single website? No, they all have their own.

Do all the bathroom suppliers in Edinburgh have one website where they all advertise? Nope, they're all separate too.

B&Q has a separate website from Wickes, Focus, etc.

Why should house selling be different, and have multiple competing firms collaborating in the way you describe?

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...and does any genuine buyer actually want to look at EVERYTHING for sale in Edinburgh, in all price ranges, all areas and styles?

I think the only ones browsing the market as a whole like this will be the agents keeping an eye on their competitors.....

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So what you have is four or five different websites, run by different businesses, who are in competition with each other for your business.

If you want to buy a new car, do you find Mercedes, Vauxhall, VW, Ford etc all collaborating on one single website? No, they all have their own.

Do all the bathroom suppliers in Edinburgh have one website where they all advertise? Nope, they're all separate too.

B&Q has a separate website from Wickes, Focus, etc.

Why should house selling be different, and have multiple competing firms collaborating in the way you describe?

Yes but no reason they cannot all be on the same website. Autotrader seems to work just fine. Don't see the numerous traders on that getting annoyed they have to share a site.

Perhaps a business opportunity ;)

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Yes but no reason they cannot all be on the same website. Autotrader seems to work just fine. Don't see the numerous traders on that getting annoyed they have to share a site.

Perhaps a business opportunity ;)

Is EVERY second-hand car dealer on Autotrader, or just a good chunk of them, with the ones that aren't using their own websites?

If it's not every one of them, then we're back to the same situation of a certain portal with a certain market share, along with others with their share.

Rightmove, s1homes, primelocation, findaproperty, zoopla and a myriad of others have all spotted this 'business opportunity' but none have managed to achieve 100% market dominance. Rightmove is the dominant portal in England and Wales, but doesn't seem to have acheived the same in Scotland (maybe because of the presence of the SPCs in the major cities, with their websites?).

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Is EVERY second-hand car dealer on Autotrader, or just a good chunk of them, with the ones that aren't using their own websites?

If it's not every one of them, then we're back to the same situation of a certain portal with a certain market share, along with others with their share.

Rightmove, s1homes, primelocation, findaproperty, zoopla and a myriad of others have all spotted this 'business opportunity' but none have managed to achieve 100% market dominance. Rightmove is the dominant portal in England and Wales, but doesn't seem to have acheived the same in Scotland (maybe because of the presence of the SPCs in the major cities, with their websites?).

As I said - business opportunity :D

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As I said - business opportunity :D

Let's assume someone does 'step up to the plate' and wants to get every house from every seller on to their brand-new website - since "Rightmove, s1homes, primelocation, findaproperty, zoopla and a myriad of others " have already had a go at it, how would this new-start persuade every agent in the country to place their properties with them?

How would they get the traffic to go to their website rather than the established ones? Most of those listed above have run TV campaigns to generate interest. Where would the money come from for the new start to do this?

If someone pitched this in The Dragon's Den, would you, as a Dragon, invest in this?

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Let's assume someone does 'step up to the plate' and wants to get every house from every seller on to their brand-new website - since "Rightmove, s1homes, primelocation, findaproperty, zoopla and a myriad of others " have already had a go at it, how would this new-start persuade every agent in the country to place their properties with them?

How would they get the traffic to go to their website rather than the established ones? Most of those listed above have run TV campaigns to generate interest. Where would the money come from for the new start to do this?

If someone pitched this in The Dragon's Den, would you, as a Dragon, invest in this?

Its just an idea - calm down. :D

And as you say others have tried and failed. Doesn't mean it couldn't be done. Look at letting web or Citylets. Before them I imagine it was a lot harder to find rentals. Then someone came up with the idea to put loads of agencies on one site.

Same could be done for sales. Although as you say ESPC has almost got that cornered. Although almost is not everything.

I suppose the easiest way would be for ESPC to go to these places and get them to join up. I wonder why they dont already ?

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I'm perfectly calm, even if it doesn't read that way. Lots of question marks have a tendency to over-excite a paragraph......

Why would the ESPC go to their competitors and invite them onto their website/paper/showroom? What would be the incentive for them?

Again, if someone pitched a brand-new 'super-portal' to you, and you were a potential investor - would you invest in it?

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I'm perfectly calm, even if it doesn't read that way. Lots of question marks have a tendency to over-excite a paragraph......

Why would the ESPC go to their competitors and invite them onto their website/paper/showroom? What would be the incentive for them?

Again, if someone pitched a brand-new 'super-portal' to you, and you were a potential investor - would you invest in it?

Er let me have a wild guess............money...:rolleyes:

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Er let me have a wild guess............money...:rolleyes:

I don't think that national/international agencies like strutt+parker or savills would have an interest in joining espc-too few properties in edinburgh to advertise, not much increased marketing opportunity, needless costs of maintaining show room, print local free rag etc. Most ESPC members would have little to gain from getting major national agencies to join because the only reason espc exists it to become big enough that they can compete with other large agencies marketing-wise.

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OK so had another long browse on rightmove - there really aren't THAT many detached places (affordable anyway) in mid/east lothian. You're talking £280k+ for anything decent whereas you'd get that in West Lothian starting at £150k.

Had some yobs round back the other night trying to kick in a council hut - at times I would pay the earth to move somewhere nice and get away from all that.

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I would be very surprised if Edinburgh property prices fall at all, with the Scottish parliament being located there, plus it is a very desirable place to live.

Why do you think that having the parliament and being a nice place to live will keep prices at the existing credit-fueled boom prices?

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It's a good question why I would expect or hope for a one-website-clearinghouse for property but not for cars, bathroom supplies, etc. I think there are many relevant differences, most of which have to do with the fact that houses are usually quite distinct individuals, whereas what stores, car dealerships, etc. typically sell are _types_ of products.

Here's a comparison...check out what is for sale on this website:

http://www.etsy.com/

It seems obvious that the people who sell on this site will, with probably very few exceptions, sell vastly more than if they each had their own website. And this isn't despite, but rather because, they're sharing space with other people they are in competition with.

For people like Rettie, the advantage is market exposure: they would unquestionably get more market exposure if they were part of a conglomerate. At etsy.com, not every product gets viewed, even within the category...people look at purses or whatever until they see one they really like, and buy it. That's because there are a zillion for sale...of course you can't look at them all. But with a conglomerate website for property you filter down to what you want by area, price, size, sometimes features, and then you look at all the properties listed. So a place like Rettie wouldn't have to worry about their properties being 'lost' in a sea of competition.

As ccc said, this is also about a business opportunity. Someone at etsy.com is probably making a lot of money.

Finally, suppose there were a site of the kind I imagine. Wouldn't it basically kill all the competition? Would anyone waste time on espc.com, rettie.com, etc. I can't imagine they would bother. But that's a testimony to why a site like this would be valuable.

EC

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • up 5%



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