Monday, December 3, 2012

Won’t someone please think of the junior negs?

Agents could go to the wall next year, warning

Some regional estate agents could go to the wall next year, a leading restructuring expert has warned. He said property agents, along with accountants and law firms, were at risk. He said: “I think we’ll see some failures in 2013 in the accountancy, legal and [property] agent sectors. If businesses are burying their heads in the sand, then it’s looking at death by a thousand cuts.” Firmin also said businesses across most sectors would have flat margins next year. He went on: “A lot of people are asking, are we going to be a Japan and have a lost decade. It’s not inconceivable.”

Posted by sibley's b'stard child @ 01:35 PM (5740 views)
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4 thoughts on “Won’t someone please think of the junior negs?

  • It’s amazing they’ve survived this long.

    All good things come to those who wait.

    Nevertheless, despite these vultures of capitalism, the fight goes on to secure decent rights for all in a (supposedly) civilised country.

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  • Apparently, increasing numbers of sellers are bypassing EAs entirely:

    PrimeResi: Private sales to account for 8% of the property market next year
    The Little House Company, a founder member of the new National Private House Sales Association (NPHSA), believes that the proportion of vendors selling off-market will rise from 2% this year to 8% next year.
    The NHPSA, which launched in September and currently only has ten members, is gathering momentum after the government amended the Estate Agency Act, effectively allowing online private sales sites to operate outside the usual regulations.
    With the average UK estate agents commission set at around 1.75% of the property value consumers stand to save money by using private house sale services.

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  • Is this a bad thing? Only those shifting product (ie lowering prices) stay in business.
    Natural cycle of capitalism in action.

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  • cry me a river, estate agents.

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