Traditional agents are being increasingly forced to step in to ensure that chains don’t collapse where sellers have chosen online firms – and are having to take the hit on higher costs of sales progression.
A new report from a firm of solicitors that has conducted interviews with estate agents in its local area says that lack of support from online agents is driving up the cost of sales progression for high street agents.
Regional solicitors Rix & Kay, which covers Sussex and Kent, said that 98% of traditional estate agents agreed that the home buying process is more likely to collapse in the absence of experienced professionals.
The firm said that the most skilled and critical phase of the home buying and selling process was sales progression but that online agents who are paid upfront and not reliant on a sale completing to get paid had little motivation or incentive to support their clients.
Nonetheless, it also found that the public has little awareness of how critical sales progression is and that traditional agents needed to do “far more” to differentiate their services from online rivals if they want to avoid being selected on cost alone.
In the estimation of the agents Rix & Kay spoke to, a total of 84% thought that the public don’t truly understand the role of the traditional estate agent.
Meanwhile, 76% felt they were not doing enough to ensure the public is aware of the differences in service traditional businesses can offer.
The report also recommended that traditional agents consider alternative business models if they wanted to remain profitable.
It found that 70% of traditional estate agents agreed with this idea, whereas only 8% disagreed (with 22% neither agreeing nor disagreeing).
Rix & Kay added that better regulation of the home buying and selling process was “fundamental” to improve service quality, as well as the reputation and credibility of the industry.
Of the agents surveyed, 66% strongly agreed this was the case, with a further 28% simply agreeing.
Not a single agent disagreed with the idea.
And it urged agents to embrace technology to improve their service, and to learn from their online rivals in this respect.
Meanwhile, it warned agents that they urgently need to consider the impact of the proposed letting fees ban, expected in 2019, on the sustainability and profitability of their business.
Zoe Woodward, consultant at John Hoole estate agents based in Brighton, who participated in the survey said: “We’re caught. We prefer open communication and know that as soon as one of the links in the chain is not informed or keeping us informed, the chain is vulnerable.
“So do we refuse to have any communication with the part(s) of the chain that has paid an online agency? We don’t, because we want a successful completion at the end of the day and our professionalism doesn’t allow us to be slack.”
Tracey Wells, director at Home & Castle Estate Agents based in Polegate, East Sussex, added: “Online estate agents are not a direct threat to most traditional estate agents and it’s not market share that is our concern.
“What’s more worrying is the strain and additional pressure online agents are bringing to the home buying and selling process because they are not concerned about completing a successful sale and are not providing the support that clients need.
Unfortunately, traditional agents feel obliged to step in to try and support the whole process or run the risk of the chain collapsing.”
Scott Garner, head of business development at Rix & Kay and author of the report said: “During the last six months I’ve witnessed unrivalled passion for an industry which has suffered for decades from a tarnished reputation.
“The traditional agents I spoke to have been central to their communities for a long time and their primary concern is helping local people move home.
“The challenge for them is to be seen as a key advisor to the home buying and selling process and not an unnecessary expense. That challenge is now even harder as new entrants continue to de-value the profession and increase pressure on margins.”
Rix & Kay’s survey is small and regional, and so there are significant caveats. It spoke to 14 different estate agents who between them operate 127 offices in the south east for its research.
Tomorrow’s lead story, ONLINE AGENTS CAUSE OF WORLD POVERTY.
Very odd the that high street agents who were surveyed would blame it all on online agents.
What a weak piece this is!
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Thank you dom for opening the day’s proceedings with one of your usual insightful and sagacious comments. No doubt your purple ducky chum will be along shortly to add to the sum of our knowledge. We are most grateful to the pair of you.
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dom, there is a funny aspect to this. At least when the professional estate agent looks along the transaction chain we can recognise the Onliner by their Oversized Feet, Red Nose, Orange Hair & Scary White make-up.
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You say ‘professional’ can you let me know what the professional qualifications estate agency has?
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Professional – That’s an easy spot Dom, they are the ones that know what their doing!
Versus Local Property Expert – An easier spot Dom! they are holding crayons, drawing pictures of what they want to be when they grow up.
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What qualifications do they hold to be considered a professional?
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Professional isn’t about qualifications it is about the attitude towards the job being done. Estate Agency is governed by higher things than paper qualification; morals, ethics and decency.
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‘Estate agency is governed by higher things’
I wouldn’t say the public would agree with you on that.
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The selling public seem happy with traditional estate agency, that’s all that really matters. The selling public trust estate agents to do a good job and the level of complaints to the redress schemes show that trust is warranted.
On average 9:10 (that’s a ratio, it means 9 in every 10) viewers are disappointed that they don’t get to buy the house they’d like to buy. Isn’t it strange how successful vendors don’t complain about estate agents and nor do succesful purchasers, you don’t suppose missing out clouds anyone’s opinion do you?
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https://www.ipsos.com/sites/default/files/ct/news/documents/2017-11/trust-in-professions-veracity-index-2017-slides.pdf
5th worst trusted profession.
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But not by the 96% of the selling public who use them and when they have don’t complain about them .
3.7% of the housing stock transacts every year, it’s therefore reasonable to say 96.3% of the people who take part in those limited market research reports never have recent transactional contact with estate agents. If the reports were resticted to people who have employed an agent what do you think the score would be?
Genuine #local estate agency is immune from those veracity reports; agents the local public don’t trust or who don’t do a good gob don’t stay in business.
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Robert 9:10 doesn’t mean 9 in every 10 it means 9 out of every 19. Funny when you were trying to be make somebody else look stupid.
Let me explain. if a ratio is 2:1 for say flour to sugar, that means for every 3 parts 2 of them are flour and 1 sugar. That means 2/3 (two thirds) flour and 1/3 (one third) sugar.
By your reconing 2:1 would mean a half.
This is elementary school stuff and fundamental to understanding mathematics.
And from somebody who throws around vague calcualtions all the time, trying to pass themselves off as intelligent. What are your school academic qualifications? ‘O’ levels? ‘A’ Levels? Anything at maths?
I appreciate school academic qualifications aren’t the be-all and end-all but they can be a guide.
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Are you sure?
If 10 people view a property how many of them can legally complete on it? 1.
9 out of the 10 are disappointed. 9/10 are disapointed, 90% are disappointed.
I was taught to write that as 9:10 if that’s wrong my bad
2/1 is 2, not 1/2 or to use a calculator 0.5
I don’t try to pass my self off as anything, if anything if I were smarter I wouldn’t bother posting on here at all, but I won’t be intimidated by you into not posting.
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A basic knowledge of the property market would be of help to you if you are going to continually bore us with your presence. Alternatively, a simple Google search. NVQ level 2 and 3 apprenticeships up to Diploma and, degree level if you go down the university route.
https://www.cityandguilds.com/qualifications-and-apprenticeships/built-environment-services/housing-and-property/4401-property#tab=information&acc=level3
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Chris we all know who the pedantic self absorbed bore is around here and certainly is not me.
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Dom “I wouldnt say the public would agree with you on that” or any of your opinions to be fair.
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Oh it definitely is Dom. Well it’s actually a tie with your feathered friend who I prefer to call Thrush – you’ve heard that joke surely?
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Agreed Dom. I run a corporate high street office and am not an online lover but they do have a place. However the bias drivel on her particularly from the likes of May and Wood is getting ridiculous. Huge chips they need to brush of their shoulders.
A while back PIE announced the sad passing of a well respected agent who had been in the business many years……comments didn’t reach double figures. The same day, and article about PB…….70+ comments. Says it all really.
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“…PIE announced the sad passing of a well respected agent who had been in the business many years……comments didn’t reach double figures.”
Such announcements rarely do. It is something that most people – myself included – find difficult to comment on. In the main, we are all ‘well known’ in our own town/area – I would not expect folk from all corners to post their sorrow at my passing as they wouldn’t have a Scooby who the chuff I was – not that I would expect the undoubtedly-welcome-in-some-sectors news of my having dropped off my mortal coil to be made into some article or other.
Shall we take it, ‘Ang7779’, that your own statement of condolence will be there to silence any mutterings that your above post isn’t just a piece of tasteless *********** (credit: Jonnie) aimed to deflect attention from the real issue covered by this article?
Or are you simply the Back-Up Troll Unit I referred to following your last roll-out in defence of the dismal duo?
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From what I can see, the likes of May & Wood and the majority of contributors on here have the interests of the general home moving public at heart and strive to make it better.
Certain others however, feel they have the moral high ground by charging everyone for failing to sell their house on the basis that they would have paid more for success or NOTHING with a traditional no sale: no fee agent.
THAT says it all, really.
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Oh yes it is!!
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Dom,
I’m not going to have a go at you here. I’m simply going to educate you on the fact that this article is exactly why the tradional agent charges more, works on a no sale no fee and most importantly, has the experience and uses professionalism to get the sale to a conclusion.
We pick up the lack of experience from the ‘call centre’ agents. This is a fact. I own a tradional Agency. I see this hapenning first hand. It can’t be denied.
It would be really helpful if instead of trying to oppose the genuine views of Agents on here just to fit your agenda you used the two ears and one mouth you were born with, that way you may listen more and respond sensibly.
Have a great day.
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The hybrid agents have specialist dedicated sales progression units, this survey was made up of high street agent respondents so would only ever conclude with one result.
Anyhow I have work to do so I will not return today.
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Good.
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Are you working tomorrow Dom?
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‘Anyhow I have work to do so I will not return today‘. Who else on here has that level of self-importance they need to tell us when they’ll be visiting? On that’s right, Thrushie.
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What a condescending self-righteous, ill-informed, biased, bigot you are. Who gives a rats ass if you’re not here later? Your delusional sense of self-importance is quite staggering.
The only reason you get the attention you do is the hateful vitriol you direct here on a daily basis to what are the majority of hard working, experienced, accredited, professional agents. What do you expect?
It’s a widely known fact that online agents don’t give two hoots about progression and are terrible at it.
Go take your internet trolling elsewhere.
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He does, Quags. All the time.
He’s really a Tw@tter-Troll that has decided to come and play with the big boys and girls.
Careful, though – he gatecrashes parties…
… then cries cos he wants to.
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Imagine being sad enough to set your alarm clock early enough to make sure you’re the first poster on any thread relating to the colossal failure that is online estate agency.
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Spot-on in my experience. The moment one finds an Onliner lurking in a transaction chain your heart sinks because you know you will very likely have to do their work for them, for the reasons we all know, and the vendor doesn’t appreciate how much extra effort is involved to compensate for the weak Onliner link.
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Yep. It is our duty as working for seller to warn about accepting offers from call centre agent buyers.
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Yep. It is our duty as working for seller to warn about accepting offers from call centre agent buyers.
Pie needs to only allow genuine agents on this site. Sick of fake p.r. gang ruining the threads.
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There was a thread yesterday about agents agreeing to come off rightmove, can we have an agreement to stop feeding the utterly moronic trolls on here. If we don’t bite they will go away I promise.
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GeorgeOrwell – it is the same with us conveyancers. The moment a memorandum of sale comes through by ‘no reply’ email, we know it won’t be a sales progressed deal, as the online agent has already been paid upfront.
In fact with any online estate agent on board we fear for the pace of the deal, even how well vetted the buyer was, as being paid upfront how much vetting actually goes on.
I could not recommend online agents to family or friends, let alone the public.
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Tomorrows headlines read ‘Homeowners who sell through on line agents may become disadvantaged when buying’ – Yes, that is because if he we have two buyers for a particular property, we will check out their chains – something extraordinarily difficult/impossible to achieve with certain on-liners in a chain. So, we inform our client that one chain has been thoroughly checked out as it was communicatively easy with traditional agents involved, whilst the other buyers chain, we would typically have to report: “unfortunately we were unable to verify this buyer’s chain, due to non communication or invariably old or incorrect information”. Our client can then make a sensible, informed decision as to which buyer they may choose to proceed with. Hence, ‘Homeowners who sell through onliners might find themselves disadvantaged when buying’.
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Simples. Just avoid any chain with a call centre only agent. It is not rocket science but we would be doing a very good professional service to our clients when we do. Professional – that not a word we have seen much of today!!
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In my recent experience some of the online platforms appear to put Buyer and Vendor directly in touch with each other. If ever there was a potential cauldron of heated emotions waiting to boil over and erupt, this is it.
It is obviously done to save time and money, in order to reduce the cost to the Call Centre business of ‘managing the sale progression’……because after all, when you have already been paid up front, fulfilling this role well to the best of your ability is less time efficient for the company!
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They actually see it as a benefit of technology but, as you point out, it could potentially open up wholly avoidable disastrous circumstances.
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In fairness to the online brigade, there are many local agents who give me the wobbles when they appear in chains of one of their vendors offers through us. The problem for me is the call centres where they sales progress from, there seems to be a lack of training involved, not having chain information etc.
The one thing i dont quite understand from this “Survey” is how high st agents can learn from the tech used by the onliners, exactly what tech is this? Is it because i still travel to viewings by horse and cart?
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I think it is the tech that swops phone numbers and email addresses between buyer and seller….allowing them to then get on with winding each other up!
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Just a point to note though. What is the benefit to a call centre agent if the sale goes through? Not much.
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Yes you’re right.
It then takes more work, and they have to arrange to at least monitor completion and hand the keys over.
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In the context of this story this is well worth a read: https://www.linkedin.com/pulse/true-hybrid-russell-quirk
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Is the link working ….or is it just me?
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It worked for me
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More News!!
Does someone get paid to state the obvious! It’s part of the PB’s of the worlds business model!
They’ve been paid already! Why do they care!?
How they must laugh, internally, whilst everyone else does the hard work!
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Not sure, in many cases, that paying for proper sales progression was ever part of their original business plan.
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This is an interesting article, but one which leaves out a number of key parties. For example, it is sometimes that case that large corporate surveyors come along and down value the property causing problems (and are also annoyingly unavailable to explain the reasons given in their survey report to the buyers), some old school conveyancers don’t engage with Estate Agents (or other solicitors very well for that matter) causing problems and some Estate Agents don’t help either – some high street agents are amazingly good at supporting the work we do on sales progression, other less so, and yes as has been noted here, the on-liners tend to be more reactive than proactive.
As a Hybrid Agent, we only get paid when the sale completes, as is the case for most traditional agents (although some do charge marketing fees to get the house advertised in the first place let’s not forget), but as we don’t charge a penny to our vendors until the house sale is completed we focus a lot of time and energy on progression, so much so our average timeframe from sale agreed to completion is just 10.5 weeks (including leasehold), compared to the UK average of around 16 weeks. And our drop out rate from STTC to completed is only 3% – it would be helpful if all agents reported the same, using the same statistical methodology, so customers could genuinely choose the agent that was going to get them over the line, quickly and securely with minimum fuss and great service too.
So as an industry we must do better. Some may recall the Property Academy / EA Awards research which suggested a majority of vendors thought the sales process should take up to 8 weeks, from first listing to completion! So better education from Estate Agents and Solicitors about the sales process is definitely required, which is no surprise given that agents surveyed for this article would welcome better regulation……
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“And our drop out rate from STTC to completed is only 3%”
WOW – that’s FANTASTIC!
But – tell me – what is the rate from SSTC?
No doubt it’s one chuff of a lot higher.
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Nope. It’s significantly better than the UK average. You tell me yours and I’ll tell you mine!! 🙂
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The trouble with waving your winkies is when someone can see them both! One of your sstc to for sale ratio is better than the other’s but one of you wins more instructions than the other.
As Mildred Peak would say, put them away boys!
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>Sales progression costing more for high street agents
How much more? One phone call? A few phone calls? Anything that can justify £5000 difference in fees on a £500K property?
Did anybody read the Times article “Unfair estate agent pricing costs sellers millions” https://www.thetimes.co.uk/edition/news/unfair-estate-agent-pricing-costs-sellers-millions-3sz6wsjv0 ?
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You can’t read that article unless you’ve got a Times subscription dopey.
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Well I read it without one 🙂
Try registering that might work.
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cyberduck, I would rather pay the professional estate agent a fee reflective of their level of estate agency expertise and their ability/motivation to deliver a better financial result than opting to give a purpledonkey or similar £1000 of my hard earned money to then witness said purpledonkey or similar trot off down the beach to the next victim and relieve them of another £1000.
In life one often pays for what one receives, and in the case of purpledonkey and others it’s just very expensive dung!
My company charges more than an Online Lister to sell a client’s home because what we do is a world apart from the donkeyliners. Sadly, some homeowners think they are saving money by choosing an Onliner Only when in fact they have just purchased their very own donkey/nightmare, call it whatever you wish, however estate agency it is not!
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GeorgeOrwell,
As a customer of both PurpleBricks and several traditional agents I think I’m qualified to provide an opinion and I believe that traditional agents have an inflated opinion of their abilities. Very mediocre in my experience and I’ve dealt with them more than most as I own a few investment properties and sold both of my parents’ homes.
As for the idea of losing £1000. That’s not true unless you switch to another agent and sell with them. According to GetAgent only about 10% switch to another Agent although there is no figure to say how many seell after switching. See https://www.getagent.co.uk/labs/online-agents
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cyberduck, many on here think you are an a******* however I’ll keep my opinion private.
I’ll call your “qualified to give an opinion” card with my “sold thousands of properties in my career which spans several decades” card.
Onliners are generally cr*p! Purpledonkey are exceedingly cr*p, accordingly to Mr Kipling!
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GeorgeOrwell,
My experience is as a customer. Traditional Agents on here seem completely oblivious to the opinion people have of them.
Just last year when looking for a property I made an offer which was turned down and I was asked if I would consider increasing it. I said “yes” but I wanted to have a look at another property first. The agent told me they’d get back to me. They never did. Not even a courtousy call to say another offer had been accepted and that no further offers would be entertained.
I was being kind when I said my experience had been “very mediocre”.
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You don’t suppose it was because you’d sold through Purplebricks and rather than subject their client and themselves to all that comes with that they decided to let you come back to them.
Seeing how you bought the other one I reckon they called it right. Their vendor is happy, their purchaser is happy and you bought something else. What is there for you to moan about other than someone didn’t get back to you like they said they would?
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I would expect a call back from somebody who said they would. The rest is just speculation.
If we’re going to speculate then we’d might as well say they weren’t bothered about getting the best result for their client and were thinking about not having to do any more work.
As it happened, when I did buy my current home I bought with a cash offer because my first sale with PurpleBricks fell through. Again, poor work on their part if that particular theory of yours was the actual reason.
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But your “Cash Offer” was the full asking price !
If you had engaged a proper agent they would have negotiated on your behalf.
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The best deal for a client isn’t necessarily the highest offer. As you’re picking up from the story and the comments a lot of agents don’t consider offers from passive intermediary vendors are in their client’s best interests.
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“The agent told me they’d get back to me. They never did. Not even a courtousy call to say another offer had been accepted and that no further offers would be entertained.”
Sorry – ducky – let’s just take out the speculation and puffery and simply clarify the facts here as they appear:
1. You made an offer on a property.
2. It was formally rejected.
3. The Agent asked you to reconsider your current, unacceptable, offer.
4. You indicated that you might make a revised offer – but only AFTER viewing something else.
Assuming you are happy with that summary so far…
Did you make that revised offer?
IF not… WHY not?
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“cyberduck, many on here think you are an a*******…”
Wouldn’t that make him a ‘D.A.’, GeorgeOrwell?
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Yes, commissioned by Purplebricks, who complete the sale on no better than 50% of the properties they place on the market, thereby costing half their customers the thick end of £1000 for absolutely nothing ! Complete hypocrisy and confirmation that this article has real merit.
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“Anything that can justify £5000 difference in fees on a £500K property?”
How’s about the fact that WITHOUT that intervention – whether it be one phonecall or three hundred and one – the sale would have fallen flat on it’s @r$e?
But of course that’s not a justification of the difference between fees, ducky – it’s our entire purpose to get that sale through for OUR customers and the only way WE get paid – No Sale: No Fee – unlike your preferred No Sale? F*ck ’em chums in Purple.
I don’t know – sometimes you just leave yourself looking a complete ducking eejit.
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>whether it be one phonecall or three hundred and one – the sale would have fallen flat on it’s @r$e?
And your evidence is where?
A phone call may sort out an issue but who’s to say it wouldn’t have been sorted out anyway if that particular call wasn’t made? For example if the customer gets in touch with their online agent or their solicitor?
Traditional Estate Agents exaggerate their effect on sales progression. 99% of cases that complete would complete anyway, perhaps with a small delay in a few cases.
Whyd od about half of traditional agents have worse completion figures than PurpleBricks?
In my house sale one of the agents provided incorrect information to another agent so the whole idea of some foolproof system is absurd.
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“Whyd od about half of traditional agents have worse completion figures than PurpleBricks?”
Keyboard numptyness issues aside – where do you get such a ridiculous idea as that from?
“In my house sale one of the agents provided incorrect information to another agent…”
You mean “I believe that…”, don’t you? Who told you that? Where did that information come from?
“…so the whole idea of some foolproof system is absurd.”
Show me someone… ANYONE… who says the system is foolproof, ducky – and I’ll show you a bare-faced liar or a fool.
The “system” as you put it can never be “fool-proof” – because of the number of fools involved in it. And a lower, equal, or higher number of non-fools trying to undo what the fools do wrong.
That’s why it needs intervention. And that intervention is usually best handled by those who
a) are not emotionally attached;
b) have experience of intervention – both positive and negative – in similar scenarios to draw on; and
c) have something to gain from the scenario having a positive outcome.
“Traditional Estate Agents exaggerate their effect on sales progression. 99% of cases that complete would complete anyway, perhaps with a small delay in a few cases.”
I would dread to put your ducking idiotic theory to practice. Thankfully it never will be, by any Agency who prides itself in offering a ful service to its’ customers.
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So I presume your reply to mean there is no evidence to prove your statement?
>where do you get such a ridiculous idea as that from?
Well if a report from Jefferies suggests PB is half way up the league table in terms of listing to completions percentages then I tend to think they are are at least 50% of agents with worse completion ratios (don’t ask Robert May to explain what a ratio is and seeing as you failed your Maths ‘O’ level you might be struggling too). Of course Jefferies’ data still needs to be checked by an independant party.
Not getting into any further dialogue today. It’s 11am and I think that’s enough.
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“Well if a report from Jefferies suggests PB is half way up the league table in terms of listing to completions percentages then I tend to think they are are at least 50% of agents with worse completion ratios”
Oh… so you “tend to think”, do you?
Suggest you think again, Mastermind. This time use yer brain – it’s the most appropriate organ for such a process.
Why? ‘cos the miserable excuse for what you’re currently pulling out of yer duck’s @r$e in the name of sensible debate and justification just makes you look a ducking eejit (second reminder today).
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‘Traditional Estate Agents exaggerate their effect on sales progression. 99% of cases that complete would complete anyway, perhaps with a small delay in a few cases’.
To quote a phrase used regularly on twitter: ‘the stupid, it burns’.
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Worked out how to register to see the Times Article yet Property Pundit?
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And this CD46 is where you betray your ignorance again about the role of a proactive partner in the business of getting moved, copied below if the character count will allow is an example of just one exchange day, copied verbatim with names redacted ( ok I’ll leave in CPL ) and if the tone appears a bit earthy the vendor and I had got to know each other well in the effort to get to D Day..
Have been out first thing and just brought myself up to speed on this mornings shenaniggans, LOL :-), having exchanged on their sale with comp for Friday *** has reached critical mass and all stops will now be pulled out by XXXX to make sure they’re not homeless ( ie they’re in your home ) on Friday, XXXl is working up the chain now and the only potential for **** up that I can see is that if somebody above you says they cant do what they have said that they will do to date, we have a built in safety here though as your chain can go in two ways with it going all the way to the builder at the top or if there are issues there XXXX have said that they will vacate which is one up from ***, will check in with *** in a couple of hours to see where she is but am now confident for 01.05, an exchange would be nice though.
UPDATE
Potential **** up averted, outstanding enquiries at the top of the chain ( ***/*** moves bit ) still not in, good news is that XXXX are buying without a mortgage and even if they’re not in for exchange XXXX will disregard them…….
XXXX en route back from Dorset at the time of writing, he’s going in to see XXXX tomorrow, have asked him to get as early as possible so that we can start the exchange early enough that we don’t run out of time ( you don’t want to start a chain this length at 4pm ) XXXX has said he will call me and let me know when he’s booked in for so that we can walk it up.
Will keep you posted.
UPDATE
Still not out of the woods, XXXX have disregarded the fact that XXXX have a related sale ( which they are not acting on ) which though exchanged with completion for tomorrow will still form part of the purchase of XXXX Rd ( deposit ) therefore they have contacted CPL requesting a redemption figure on XXXX mortgage ( purchase price of XXXX Close less mortgage amount = deposit ) to make sure that they have enough money to complete tomorrow, I have phoned CPL and spoken to one XXXX who has promised to wire that number to XXXX within the next 15mins, I have once again stressed to XXXX that we need to start this exchange before lunch due to the number of participants in the chain………… Chasing………
(Client) Well if XXXX **** this up then they are picking up the extra £1200 for storing and moving my stuff to the new house!!! That or a petrol bomb!!
If country wide can get there **** in gear then so can these monkeys.
Cheers for your efforts.
For info XXXX have realised my funds to XXXX.
UPDATE 2
I have also just spoken to XXXX who, like the rest of us, is swiftly losing the will to live, I’ve spoken to him to find out what proportion of the sale of XXXX is required for the deposit + mortgage offer i= purchase of XXXX and its not even ******* close, he’s using about half the money released from XXXX as his deposit so the redemption number to my mind is irrelevant, consequently I have asked him to phone XXXX and instruct them to start the exchange regardless which he is going to do and phone me back when he’s done it, the only way that I can see a further delay is if XXXX want him to mail them a disclaimer saying that its against their advice and they should see the redemption so dont sue us if it goes wrong blah blah blah Grrrrrrrrrr
Chasing………….
UPDATE 3
XXXX are at lunch, cheers for that, have spoken to XXXX again to see if he knows of any progress, he has wired them 18.5k ( 10% dep ) outside of the money that he’s getting tomorrow on completion which they have acknowledged receipt of, there really should be no reason now that we cant get them to release when they get back and we can walk it up….chasing…..
Holy **** there’s a Help to Buy that we’re not aware of! XXXX and co have released to XXXX ( HTB ) and have just tried them and left a message, also have got XXXX direct dial that I’ll try again in a minute, usually 5 days notice for these things he’d better of given it, release only valid at this end of the chain til 3.15pm, chasing now………
( client ) Don’t believe you !!
UPDATE WHATEVER
Spoken to XXXX, told him he has about half an hour, XXXX phoning him, have spoken to XXXX ( XXXX ) she is phoning him and have asked her to get the client to phone him as well, pile in…………..
USELESS UPDATE
XXXX has asked everybody to stop phoning him as he will sort it, am about to phone XXXX and ask her to let me know if and when its on its way back so I can let everybody know.
Jeez.
He should of got this sorted in the first place
UPDATE GOOD
Have spoken to XXXX ( one below the problem ) she will still vacate tomorrow if her ongoing doesn’t come through, have asked her to call XXXX with those instructions……Stress…..Chasing
She’s authorised it, should be a call going in to XXXX about now, exchange open for another 8 minutes at XXXX……………..
YOU BEAUTY!!!!!!!!!!!!!!!
( client ) DONE!!!!
THANK YOU FOR YOUR MONUMENTAL EFFORTS IN GETTING THIS DONE!!
It’s been emotional!
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Way, Way out on that statement. Your rant is nothing more than your usual biased tosh. Yet again we have your pleasure … what an absolute joke. As you seem so keen to pick on other over their maths. lets get you to answer this basic question…..
How many minutes does it take a person (high street agent or LPE) on average to negotiate a sale (how long is a piece of string!), but for staffing levels of any type of business, there is an accepted norm. I doubt you will know the correct answer. But whatever you come up with, now multiply it by the time: to receive request to value, do a valuation, calls and go back take on instruction, travel and overheads, time to find a buyer, arrange a viewing x 10 with buyers plus 10 x with vendors (an average), viewing call back x 10 with potential buyer plus 10 feedback to vendor, not forgetting they are not all available when you call, so add in all the recalls plus recalls to answer questions, calls to agree a single sale between buyer and vendor, calls to chain check (minimum of 3, often 5 in chain), notification of sale to solicitors x 2, chain chase with solicitor x 2 (add in chain that is not being serviced by other agent!!), chase MIP (FA never in!!!), arrange survey access, chase mortgage offer, sort out mortgage offer issues = how many hours? Then add all your compliance and administration into the equation, having time to go to the toilet and something to eat … probably have no time left for sleep, as its now the next day.
NOW ADD IN X ALL THE PROPERTIES AN LPE HAS (multitude according to you and PB) = How many hours needed? Impossible to service, we know it, the customer soon gets to know it and you haven’t a clue what you are ranting on about.
Now add in the high steet agent who has a team, find buyers without having to wait for the phone to ring (pro-active), all the overheads and it doesn’t take long to see why high street agents are more efficeint, costs more and only get paid for results with all the overheads that come with it. That is service. On-line is not a service sector, it is nothing more than an limited advertsing outlet.
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High Streets – Refuse to deal with the chain if PB are involved? Surely that will get the message across?
I understand monies lost in the short term but could benefit you long term….
JPS
(Loving the retired life)
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It’s even worse than the sub-standard job that most of them provide (or should I say don’t provide); I won’t say all as I’m hopeful that there are some self/part-service ‘agents’ (loose term) that deliver at least some post sale agreed support – even though I am yet to find any evidence of this!, but they are also disadvantaging their clients in relation to their onward purchase.
For example, we had multiple offers from an open house last weekend but the inability of the self/part-service ‘agent’ below one of the interested parties to provide even basic information relating to the selling chain and the financial ability of their ‘buyer’ basically precluded this potential purchaser’s offer from being taken seriously by our selling client and this is far from the first time this has happened.
There is also the added issue of the incompetency of their associated/recommended conveyancers, especially where the subject property is even remotely complicated. Naturally we treat all potential buyers with complete fairness and respect but if you can’t get the requisite detailed information quickly and efficiently then their clients are at a severe disadvantage when making an offer to purchase especially in a competitive situation.
It would be helpful if some extensive independent research were published on this topic that we could show to clients and help educate them of the risks they are exposing themselves to.
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An LPE for example cannot do al the work on their own. Plain and simple maths. This story highlights that there is no incentive to a paid up front on-liner, to need to bother and gives good cause as to why PB refuse to disclose how many properties they actually sold.
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If we have a buyer who is selling via an online agent i’ll advise the client that the post sales care will be significantly reduced as from previous experience on every single chain with an online agent updates have been scarce and no intelligent conversations can be had with call center agents/solicitors.
No one is impressed when they hear online estate agents/solicitors involved in a chain, not the sellers, not the local experienced solicitors acting on our side, not my colleagues and least of all not my cat whom I complain to about it in the evening.
It isn’t only online though, there are some high streets at fault – sales progression is an easy job, it is simply communication.
If we want to make a change, simply be upfront with issues you have about poor service from these firms – If two buyers were in the exact same position but one is using an online agent and the other a local – well it makes sense who to recommend going with doesn’t it.
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I have been reading this for a while now and havnt ever been bothered to create a profile and comment, I just come to read the bitchy comments between dom/cyberduck and everyone else on here.
Normally the articles are click bait and like most news the headline doesn’t correlate with the actual content/facts.
However I’m pretty sure most ‘traditional’ (I don’t like the term traditional that is being utilised; traditional to a lot of the general public means stuffy, old, not innovative and although some agents are the above and these are the ones who should’ve been gone along time ago, a lot of good hardworking independents are very much the opposite) agents who are worth their salt are like myself getting increasingly frustrated at how hard with any online agent it is to do a chain check, confirmed they have checked the buyers finances and they just don’t care about the progression of the sale or if any problems arise, but again most agents worth their salt will just deal with it because they care about the sale, the client, their reputation and also repeat business, something not high on the ‘hybrid’ (again this isn’t the right term for what they really are) agents agenda.
anyway just a quick theight, I will now go back to just reading the battles in the comments section.
p.s – anyone recognise a name on the purplebricks LSE share price comment section?
http://m.lse.co.uk/markets/shareprice/chat.asp?share=PURP
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Good post, hope you’ll keep contributing on here. Re LSE; yes it’s the same genius who posts there as on here with about the same amount effect too.
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