It’s been another hectic week for the industry: here is what has caught our eye.

First: Brexit

There has been one story dominating the news this week, Brexit.

Almost every other article contains the B word, and just think there are at least two more years of speculation to come!

There was plenty of gloom.

This week Foxtons issued a profits warning off the back of the leave vote.

Data from Plentific showed around 12% of home owners were now less likely to sell their property, while Hometrack warned that Transactions are expected to slow rather than house prices fall in the wake of the EU vote

Amid all the negativity, Rightmove said listings on Friday, Saturday and Sunday were actually slightly up and there had not yet seen any price cuts, although there were more searches in Scotland – where more voters backed the remain campaign.

And first-time buyers may well be bucking the downward trend that many predict.. That is the view of estate agents Your Move and Reed Rains.

Their First Time Buyers Tracker showed the number of sales slumped slightly to 24,900 in May, just 0.8% lower than the 25,100 seen in April, but that is still 13.2% higher than February and 5.1% higher than a year ago.

Developer Redrow also insisted there were “long queues and strong reservations” at four new site openings last weekend.

Typhoon tried to inject some positivity, stating: “Come on everyone  we all know that for the longer term, property is a sound investment and the market will move on. From 1990 to 2016 in many parts of England property prices rose over 300% despite in that period 2 deep recessions ’90 to ’93 and 2007  to 2010 that saw drops of nearly 30%.

“Let’s start talking positive and reinforce the public belief in property for the longer term. I  say this as I truly believe it’s in the interests of the home owning/ buying public.  Many could be diverted from doing anything because the advisor they listened to was the guy who was propping up the bar with a loud negative voice.

“Are we as an industry going to be outsold by a drunk? No we bl**dy well are not. Get out there and get positive.”

Comments have been prominently upbeat, and pambrose said: Just a bit of reality which I hope may give some confidence.

“We’re currently running 600 conveyancing cases and since the vote, only two (yes – count it – two) people have pulled out giving Brexit as a reason.  We work across London and the home counties with first time buyers being the highest proportion of our business.  Sure – Friday was a bit quieter but we’re seeing numbers coming straight back up and agents getting a lot of requests for valuations.”

Second: Bad week for Foxtons

As if the week could not have got any worse for Foxtons, it is also facing the prospect of an £80m class action over the fees it charges to tenants.

The claim is being actively promoted on social media by the law firm CaseHub, which says it “brings justice to people by building group legal battles, online. Join our class actions against Ryanair, letting agents and Parking Eye”.

In one tweet, it says: “Ever paid tenancy fees in England. Sign up for updates on upcoming case against letting agents. U could get refunded.”

Foxtons told EYE: “Foxtons employs an open and transparent approach when it comes to fees.

“Our tenancy administration fees are fixed and charged per tenancy (not per individual tenant) and includes the cost of chauffeured viewings, negotiating the tenancy, verifying identification, obtaining references and drawing up the tenancy agreement.

“We ensure tenants have full visibility of fees upfront before making any important decisions, by displaying our fees on our website, on print and digital advertising, within branches and on all the pre-tenancy paperwork.

“Unfortunately this practice is not always replicated by other agents, and we welcome more regulations to improve transparency in the industry.”

EYE readers came out in support for Foxtons and its right to make money from fees. Smile please said: “At what point did letting agents become seen as charities?

“They are there to make a profit. Who cares if it is 10p or £300 cost to them to reference the tenant.

“What about all the free viewings agents do?

“What about the stupid 20 min phone calls to answer questions potential renters have that a normal functioning member of society would not ask “What you mean I can’t have three alsatians in the studio, they are well behaved.”

“Let’s not forget they can go to a private landlord, oh that’s right the properties are usually not fit for habitation, see why you pay a little bit more now.

“They can also shop around letting agents, look at fees before the property. Might just help!”

Votta583 added: “Excellent comments here. I’m also not aware that my branch says “charity” above the door. Our fees contribute to keeping the lights on and the computers running, oh and to put food on the table for my family.

“Or should we stop charging fees altogether like Scotland so in turn tenants pay more in rent and we’ll all just drink out of puddles together.”

Third: The Big Interview

What is the best way for estate agents to use technology? Do you even need a website?

EYE’s technology editor Rayhan Rafiq Omar speaks to agent Karl Tatler who has won both estate agency and lettings agency of the year.

When it comes to using technology, Tatler says: “Our industry isn’t rocket science, we don’t need bespoke this or bespoke that to do it. Many agents don’t embrace tech, because it makes marginal differences. But lots of marginal differences can make a better business.”

This got readers thinking, with one comment from Bless You positing: “I don’t think websites are that important. Its probably proactive marketing that they do in the market place to then drive customers to the website that is important.

“I’ve been trying to pinch ideas for years off other agents and websites don’t give anything away.

“I’ve got a sneaky feeling that after 20 years in the business it’s your name that is important.”