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The Death Of The Estate Agent?


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What is the future of the Estate Agent bearing in mind:

- the house price crash and the dramatic fall in revenues

- the increase in online estate agents. Tesco have announced that they will be operating an online Estate Agency Service where sellers can sell their home for £50

I think the Estate Agents in its current form is finished. Sure there will always be high street estate agents but they will need to adapt to the changing market. For example they would need to reduce fee's to be more competitive, comply with long overdue new legislation, start charging for valuations etc etc.

Views please

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What is the future of the Estate Agent bearing in mind:

- the house price crash and the dramatic fall in revenues

- the increase in online estate agents.  Tesco have announced that they will be operating an online Estate Agency Service where sellers can sell their home for £50

I think the Estate Agents in its current form is finished.  Sure there will always be high street estate agents but they will need to adapt to the changing market.  For example they would need to reduce fee's to be more competitive, comply with long overdue new legislation, start charging for valuations etc etc.

Views please

When Direct Line was launched many commentators said this spelled the end for small high street insurance brokers. In the main this didnt materialise.

There will be quite a lot less E/As though in the near future as there is an appetite amongst a certain consumer profile group to 'cut out the middle man'.

There have always been individuals with thier own 'for sale' boards and local rag advert although I hav'nt known any actually sell (I suspect they are more prone to 'control freak' type personalities so rub buyers up the wrong way).

I imagine E/As will start charging for valuations in order to reduce exposure to 'time & information vampires'.

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It was the end for high street insurers!  How many do you see now compared to 10 years ago?  I know because my Dad had one.

Sparker, the same old ones have been here since 'I were a lad'.

Travel Agents on the other hand..... cant see many of them surviving. I dont use em anymore. One day everyone will work in a call centre or for Tesco's by the look of things.

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I've never booked a holiday / travel through an agents. I've always booked online, even if I've browsed a few brochures from a travel agents.. :P

And I've never bought insurance from a broker. Gone are the days when the broker was useful (and added some value) as he could search loads of policies, I can do the same know with the click of a mouse. I've always searched online, then bought policies over the phone after referal to their underwriters to further reduce the premiums... saved me a mint over the last few years.

I think we will go towards a more internet based system for many different things we buy. Shops are now merely a showroom for many of the products I buy.

Just bought an espresso machine off Ebay for £35 and £10 P&P, which was brand new in an unopened box. Normal retail price in shops was £100+... WTF would I bother buying in a shop/broker etc.

And if in future I buy my house direct from a seller, then somebody is going to benefit from not paying 1-2% fees, maybe a bit for the vendor and a bit for me!

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I've never booked a holiday / travel through an agents. I've always booked online, even if I've browsed a few brochures from a travel agents.. :P

And I've never bought insurance from a broker. Gone are the days when the broker was useful (and added some value) as he could search loads of policies, I can do the same know with the click of a mouse. I've always searched online, then bought policies over the phone after referal to their underwriters to further reduce the premiums... saved me a mint over the last few years.

I think we will go towards a more internet based system for many different things we buy. Shops are now merely a showroom for many of the products I buy.

Just bought an espresso machine off Ebay for £35 and £10 P&P, which was brand new in an unopened box. Normal retail price in shops was £100+... WTF would I bother buying in a shop/broker etc.

And if in future I buy my house direct from a seller, then somebody is going to benefit from not paying 1-2% fees, maybe a bit for the vendor and a bit for me!

Your right of course, and many other occupations are also under threat.

I used to pay for a guy to 'fix / sort' my computers at work, but now there are plenty of people who will do it for free :o

My P/As son, one of my brothers, my Dad and loads of other 'computer experts' do it for free!

Thats the problem with our society, theres no mystery to any occupation now, so everyone seeks to get everything for free / less.

I imagine City companies will off - shore thier investment teams eventually.

I notice people come armed with print - outs on a visit to the Doctors now!

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I was all excited for a moment.

I thought this thread was about a Foxton's agent getting kicked to death in a scene reminiscent of 'A Clockwork Orange'... preferably not too far from my home... possible even the josser who came to "value" my flat for my landlord a couple of years back ("NO! These will NEVER fall in value... blah, blah").

OK, maybe that's taking schadenfreude a little too far... I'll get me coat.

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How many fund managers manage to underperform the stock market

Hey, just think how much skill and effort it must take to underperform the stock market! A lazy manager could just buy shares in all the companies then go on holiday for the year and still match stock market performance... underperforming takes a lot of hard work.

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i think estate agents will be dropping like flies over the next few years if they dont incorporate other areas of housing consolidate. i can see some linking themselves to shared ownership and housing schemes to keep afloat as i know of a few developers using Search Engine Optimisation as an alternative to posting their property through estate agents.

www.williamthomashouse.com is an example of this and i would be suprised to see more people doing this in the near future!

What is the future of the Estate Agent bearing in mind:

- the house price crash and the dramatic fall in revenues

- the increase in online estate agents.  Tesco have announced that they will be operating an online Estate Agency Service where sellers can sell their home for £50

I think the Estate Agents in its current form is finished.  Sure there will always be high street estate agents but they will need to adapt to the changing market.  For example they would need to reduce fee's to be more competitive, comply with long overdue new legislation, start charging for valuations etc etc.

Views please

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Willow,

Shared ownership is just the latest sham followed by the agents, just like BTL.

When the chips are down and prices still unaffordable by the majority of FTB's then sales will still plummet. EA's shold be more careful as to what mast they pin their colours to.

Edited by OnlyMe
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their will never be an end but i do think they will drop like flies over the next few years if they dont branch out their business to incorporate shared ownership schemes or join forces with housing associations to help FTBs onto the ladder. From personal experience, more and more companies are optimising their websites and therefore avoid having to use an estate agent. i know that www.williamthomashouse.com is using a search engine optimisation company as their estate agent isnt doing the job...

What is the future of the Estate Agent bearing in mind:

- the house price crash and the dramatic fall in revenues

- the increase in online estate agents.  Tesco have announced that they will be operating an online Estate Agency Service where sellers can sell their home for £50

I think the Estate Agents in its current form is finished.  Sure there will always be high street estate agents but they will need to adapt to the changing market.  For example they would need to reduce fee's to be more competitive, comply with long overdue new legislation, start charging for valuations etc etc.

Views please

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i agree with the shared ownership comment. if they force people into these deals it will simply keep the house prices artificially boyant. the governement seem to think that this is the way out of the housing problem but more needs to be done. i would like to see no stamp duty for any FTBs and some kind of extra tax on landlords.

Willow,

Shared ownership is just the latest sham followed by the agents, just like BTL.

When the chips are down and prices still unaffordable by the majority of FTB's then sales will still plummet. EA's shold be more careful as to what mast they pin their colours to.

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i am looking to buy in the south east and prices have dropped and are continuing to do so. i am also seeing alot of people removing their property from sale as they think they have missed the boat so wait for prices to rise again. this is only set to harm the market as FTBs are essentila for the economy and also, once on the propertyy ladder any other house you buy is relative to your own!

very frustrating time for us all!!

It's not stamp duty that is keeping FTB's out of the market, but astronomical house prices.
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How many fund managers manage to underperform the stock market

Half of them?

http://www.fool.co.uk/news/foolseyeview/2005/fev050113c.htm

10. Managed funds

Millions of UK investors entrust their money to highly paid, highly educated professional fund managers. Almost all of the money that pours into pension, insurance and investment funds is controlled by these clever folk.

However, perhaps the City's greatest myth is that these high flyers earn their fees by beating the market and, thus, give their investors value for money. Sadly, this isn't true: over the long term, less than a fifth of fund managers beat the market benchmark that they seek to outperform. And yet they charge fees of, typically, 5%, upfront plus 1.5% a year for this marked lack of success.

Rather than be disappointed by these "experts", I prefer to invest in a low-cost, simple, flexible index tracker. Best Buy index-tracking funds charge no initial fees and an annual fee of around 0.5% a year. These low charges give me an immediate advantage over investors in managed funds, because more of my money gets working on day one. Although the returns from my trackers won't beat the market, they won't massively underperform it, either!

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What is the future of the Estate Agent bearing in mind:

- the house price crash and the dramatic fall in revenues

- the increase in online estate agents.  Tesco have announced that they will be operating an online Estate Agency Service where sellers can sell their home for £50

I think the Estate Agents in its current form is finished.  Sure there will always be high street estate agents but they will need to adapt to the changing market.  For example they would need to reduce fee's to be more competitive, comply with long overdue new legislation, start charging for valuations etc etc.

Views please

They will probably go the same way Learner driving schools went. remember when

they used to be in the high street? Running a shop will be too much of an overhead

Internet selling from home with all the overheads going into advertising in the press?

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  • 442 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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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