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Written by rosalind renshaw

Figures released today by Moneypenny, a firm which handles inbound telephone calls for more than 600 estate agent businesses across the UK, show that calls to agents were down 24% in April compared to previous months.

The figures compare with signs of recovery in March when call levels were up by 22% on the previous two months.

In February, Moneypenny handled an average of 87 calls to each agent; in March, the figure rose to 111; but in April, the figure sank back to 75.

The new figures show just how badly affected agency businesses were by the back-to-back bank holidays.  

The figures, broken down regionally, give an illustration of how each area is performing. Some of the key findings include:

In Wales and Northern Ireland the market outperformed the rest of the UK. However, even here, calls were still down by 13% and 5% respectively.
 
Central London performed worse than the UK average, with calls down by nearly a third (29%).
 
The Midlands were particularly hard hit with calls down by 53% in the West Midlands and 35% in the East Midlands.

The South-East continues to outperform the rest of the UK; however, calls are still down by 18%.

Joanna Swash, director of Moneypenny, said: “It has been a tough start to the year for agents across the UK and it appears they have not been helped by the recent bank holidays. However, early indications are that things are beginning to pick up in May.

“The figures also reveal that there were pockets where agents were particularly busy, such as in coastal or resort towns and villages.”

Comments

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    I am beginning to think that a lot of the posters on this site should change their name to 'Rosie Lee' and get down to the nearest fairground to practise their new career of fortune telling! :>0)

    • 25 May 2011 16:54 PM
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    @woodentop

    You're missing the point. A prediction from me would just be guesswork and therefore pretty pointless. What is not guesswork is the fact that prices continue to fall as do mortgage approvals (have you seen today's BBA report or did that pass you by too?) etc etc. The "crash" is happening and to claim that it's been and gone is delusional.

    Also you seem to think that the "HPC" is one person who keeps changing his mind. In reality it's more likely different people with different views.

    "One suspects there has been a few chin wagging on another site and lets get at those agents on EAT"

    I think we can add paranoia to the list. I prescribe a tin foil helmet.

    • 25 May 2011 13:53 PM
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    @woodentop

    As I say what planet is it? What on earth makes you think I am a HPC or bitter in life? How on earth do you make those quantum leaps?

    The problem with HPCs is that they are probably correct in that house prices will not increase for years to come, or not everywhere at any rate. That of course does not suit the blind faith optimists who post and who clearly have a vested interest. This is because at least stable and preferably steadily rising prices making housing more interesting as an investment as well as a home. So it makes selling houses easier.

    Fair enough.

    I have no idea where house prices will end up in 5, 10 or 20 years time. On normal(!!) patterns they will gradually increase especially as supply becomes scarcer. All I believe is that in the current economic climate which in my view is going to get a lot worse until the end of next year at least, they ain't going anywhere fast upwards and at best will remain static if we are lucky.

    The right property at the right price(!!) and well presented in the right location will always sell and probably command a better than average price - that is just the three P's etc in product placement and the marketing and selling of anything.

    As it happens I am 60 and extremely happy with my lot in life as I have been very fortunate. I said I would prefer prices not to fall, I take rantnrave's point that if my eventual estate value is lower and the kids get less then they probably have to spend less. Fair enough, I'd just prefer them to have more and then choose. But he is right.

    For the reord I spent 24 years working for Nationwide - in the field at the sharp end before you make any more smart cracks with a mortgage lending mandate of £300K in 1994 - and this July I will have been with a specialist national lettings comnpany for 17 years. So I know a bit about housing generally and borrowing especially.

    I also see the quality of estate agents as I have moved house many times while climbing the greasy pole in the NBS career and recently seen kids do the same, and for that reason could see where Mary Portas was coming from unlike estate agents theselves for whom some of her truths were too painful to acknowledge. Don't blame you but doesn't change the truth.

    Allegedly I am an expert on the legal side of lettings and basically hope I have over 40 years experience not one year 40 times.

    Clear now - I am not a HPC but can see why some might be. I hope I am a realist with a lot of common sense allied to my experience.

    If my views don't suit those with a vested interest in talking prices up equally as vested as those with an interest in talking them down so be it.

    • 25 May 2011 10:20 AM
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    When I first started to read this thread, the tone was noticebaly HPC's venting their opinions but with more vigour. One suspects there has been a few chin wagging on another site and lets get at those agents on EAT.

    @Charlie (HPC)
    Answer the last question, if your such an expert.

    @Industry Observer (HPC)

    IO - "That's because there will be no actual crash but there will be continued stagnation in the house market and gradual falls for some years to come".

    Shot yourself with your argument, so was I dreaming on when I made that statement also. So which is it, there will or there will not be a crash? You seem very bitter with life. Maybe you can enlighten us with what you expect prices to come down to or not to, to be a crash?

    It is becoming even more clear that HPC's chop and change views so that they can whinge. Self opinionated and lack knowledge of the wider picture. Very much a case of a little knbowledge is dangerous. Well clear off and do it somewhere else. Your contributions are not constructive to the debate. AND NO YOU WON'T FORCE PROPERTY PRICES DOWN, your the ones deluded if you think you can make it.

    • 24 May 2011 20:07 PM
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    IO - I'd agree with much of your post. Just one thought though - if house prices do come down, you'll obviously have less money to pass down to your kids. But if they plan to use that inheritance to buy a house or move up the ladder, then wont they need less money anyway?

    • 24 May 2011 09:47 AM
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    @woodentop

    "the crash has already passed by and coming to an end"

    You couldn't sound more deluded if you tried. This is blatant wishfull thinking that you're pushing out as fact. Unless of course you have some evidence to back it up? No, thought not.

    "If more people would spout bs like me, we'd be taking more phone calls, wibble, wibble, honk"

    • 24 May 2011 09:45 AM
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    Yet again I am forced to agree with PeeBee but Woodentop what economic planet are you living on? Property price crash gone - dream on.

    I have no desire for a price crash, none whatsoever as I approach my dotage and hope my almost mortgage free property will provide a nice inheritance for my kids and grandkids. I'd also like the impossible for them and me - low mortgage rates for them and sky high investment rates for me. But it won't happen.

    To live in the real world you need, like me, to have a partner in a business sector or industry that is really affected by the cuts, then you'll understand a bit better. My other half works for our City Council, hasn't had a pay rise for the past two years, is now in an imposed cuts scenario where she won't get one for the next two years AND she is having to take a 5.5% pay cut as are 4000 other LA employees. Add to that rising petrol costs and various other necessities plus the fact that with infaltion rising and sooner or later the BoE will have to start raising interest rates, and you have a recipe for a very tough few years for a lot of people.

    These cuts won't start to bite properly until next year as people are forced to change habits and do so slowly, but next year and possibly 2013 are going to be very tough indeed for us all.

    It may only be a 1/4% rate rise each time but over the next two to three years, probably starting later this year, there will be several of them. For the majority not on fixed rates and with the average newish mortgage o/s these days of £100K every one of these 1/4% rises will mean at least an extra £25 a month on the mortgage.

    And the lenders may well increase their rates by more than the BoE hike for several reasons, the main ones being a continuing need to rebuild their capital base plus an ongoing desire not to actually lend more than they have to.

    All of you that post on here that HPC devotees are wrong are actually correct. But the HPC crew have nothing to get excited about either. That's because there will be no actual crash but there will be continued stagnation in the house market and gradual falls for some years to come.

    It simply cannot be any other way because lenders aren't lending and would be borrowers in the main cannot afford to borrow even if they could get a mortgage.

    Brit1234 buy the best you can now if it is a home and a family you want otherwise you never will. By the way with an old 25 years in the NBS manager hat on take my advice and if the pennies are that tight relating to possible pay adjustments with interest rates set to rise do not buy at all

    • 24 May 2011 08:29 AM
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    @ Charlie
    No it didn't, it does seem to have passed you by that the crash has already passed by and coming to an end. The HPC brigade still hope it will crash more. If they could just get it "it won't happen" more people would probably be on the on the dog and bone.

    • 23 May 2011 21:19 PM
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    @Hd "Your getting a bit boring now, we know your not going to buy until the year 2030, so politely jog yourself on ratther than crying about the prices being too high." I You may do well to follow the advice of Ace of spades who says '"These companies need to remember who the customer actually is" HD may i remind you that you act on behalf of the buyer and the vendor. I am sure i would not award you an instruction or an offer due to your rudeness let alone your business acumen!

    • 23 May 2011 20:33 PM
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    @Bob. I think the buying public has changed the way they search for houses over recent years. When I started 8 years ago RM was still in it's infancy and the agency I worked for had 14 pages in the front of the property section of the local rag. It slowly stopped producing leads and the internet took over. Now that same agent only has 1/4 of a page each week and our agency doesn't advertise in it at all.

    People then only had about 1/5 of our stock to look at in the paper, it was only available on one day and if they missed it the only way they could find out about properties was to call us or visit. Out of town buyers had no chance, they had to visit. Now i speak to dozens of people who find their properties online. 60% of our leads come directly from the internet, but more importantly people can now search for houses at a time when it suits them from a location that suits them i.e. their own front room.

    This means that, come the nice weather and bank holidays they do the unthinkable and GO OUT and have lives instead of trawling boring estate agents shops who all ask the same boring questions. The market has changed since the credit crunch, but this was happening for at least two years before that and it was only really in 2004 and 5 that I experienced a busy Easter.

    • 23 May 2011 20:17 PM
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    'Ric

    @Bob - Most posts are saying the events you are talking about can effect the number of calls or visitors to any business not talking about prices........Do you seriously think a bank holiday has no effect on the number of calls a business might take? Come on Bob answer the specific question related to the specific MonnyPenny finding!'

    For years bank holidays during May and August, Easter and sunny weekends have all been boom periods for buyers ringing up or walking in off the street and arranging viewings.

    In many respects, estate agency work is like an ice cream parlour - it benefits from sunshine, blue skies and good weather which brings customers out.

    For some in our professional to now try and convince the rest of us, and the public, that blue skies, bank holidays and hot weather stops people looking for houses runs against 20 years of this game.

    My office is in a busy seaside resort where all the other shops - clothes shops, restaurants, art galleries, travel agent, wine bars, were open on all the bank holidays, throughout easter and on the day of the wedding - they were all busy but the estate agents weren't.

    • 23 May 2011 19:11 PM
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    Oh Dear if agents cant afford their own staff to answer calls they should not be in business........Would you realy want someone answerin your calls who is not an employee with noKnowkedge etc????

    • 23 May 2011 19:03 PM
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    Re RIC "Just one question when you have purchased (whenever that may be) What would you want house prices to do after that? "

    Fall, it would mean the difference between the house I own and the bigger one would be smaller.

    I'm not into property speculation at all.

    • 23 May 2011 18:39 PM
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    @Wooden top

    The delusion is strong in this one. Surely you mean the crash/correction/whatever that is currently happening or did the latest Land Reg report pass you by?

    • 23 May 2011 17:10 PM
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    And that my lady is probably why the calls were down! Alot of HPC's still waiting for the crash that will never come and frankly wasting everyones time in hope.

    • 23 May 2011 16:57 PM
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    Brit1234: "I have already got a 25% deposit for when houses fall into my bracket"

    Then, I REPEAT my comment made several times before.

    YOU HAVE NOT GOT A 25% DEPOSIT! You have 25% of a figure YOU want to pay.

    Gulfs apart...

    • 23 May 2011 16:48 PM
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    Hi Brit1234, thanks for the answer and fair enough from your point of view!

    The not knowing your monthly wage situation is a very sensible way to consider it being the right time to buy without question.

    Put that aside and simply offer a figure where you feel the market would be "safe" in your mind! anyway I hope you wage goes the right way!

    Just one question when you have purchased (whenever that may be) What would you want house prices to do after that?

    @Bob - Most posts are saying the events you are talking about can effect the number of calls or visitors to any business not talking about prices........Do you seriously think a bank holiday has no effect on the number of calls a business might take? Come on Bob answer the specific question related to the specific MonnyPenny finding!

    • 23 May 2011 16:44 PM
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    RE RIC "PS Brit1234... serious question: If you are looking to buy a home, I assume you have a price you know you can afford, would you consider registering with me and I will house hunt on your behalf and see if I can get you what you want! (I am in the north but I am sure EA;s on here and my network collegues would assist you in trying to find you the house for you....If you want me to look for you let me know and you can send me an email with you details and requirements....just a thought but if your serious about owning a home let me know! "

    Thank you for your offer but I am holding out for the moment. At present there are a number of wage reviews going on into my salary. It would be irresponsible of me to purchase when I am not sure what my monthly wages are going to be.

    Also I am still saving my deposit and costs. I have already got a 25% deposit for when houses fall into my bracket but may look to take that to 30%.

    Also the longer I wait the more prices come down and the more chance I have of getting some where closer to work.

    I'm not here to grab a bargain, I just want prices to come down enough to afford to buy a home to start a family.

    • 23 May 2011 15:21 PM
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    "Anonymous Coward

    Still don't know the name of that idiot footballer, and still don't care.

    I do care that the number of calls to my office was noticebly lower than normal.

    Tumbleweed down the high street?

    Everywhere was quiet - a quick walk down the road on Saturday showed me that. "



    What was lower? All calls? Seller calls? Buyer calls?

    Your comment about the road on Saturday was interesting. I had to go into my local city centre last Saturday but did not fancy the idea as parking is usually a nightmare. I was shocked to be able to park in a free space within a few hundred yards of the city centre and there were loads of other free spaces.

    I think that says it all about the economy.

    How are you finding the attitude of sellers? Are they becoming more realistic about dropping their prices? Or still in denial?

    • 23 May 2011 14:41 PM
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    I think it is ludicrous to say that good weather and the royal wedding puts people off buying houses.

    In the winter we use the cold, the rain, the dark nights, the snow as an excuse to sellers why they are getting no viewings. Now we use the good weather, sunshine and longer nights as an excuse that sellers are not getting any viewings.

    From next week lots of agents in my area, Swansea, will no doubt begin telling sellers that it is because it is Summer that they are not getting viewings and tell them to wait until September. Wait until September has been used in my area for years to keep disgruntled sellers getting no summer viewings.

    Once Sept comes we will begin telling people that the nights are drawing in, Christmas is nearing and people don't want to buy when it is cold, dark nights, rain, snow, etc.

    We have now begun to give sellers 30 days on the market with whatever asking price they want. Once the 30 days is up we begin to ring them up and try to talk them down. Our problem is that so many sellers are completely unrealistic about the economy that they want prices well above what their property is worth.

    Some of our competitors appear happy to indulge these sellers so it makes very difficult to gain custom when you value realistically. I am begining to hope that interest rates rise to force the hands of such sellers and get the market moving again.

    Stock is rising, buyers are staying away, sellers are in denial. But until IRs rise we are just going to have a glut of unsellable propeties on the books.

    It is not the banks or the surveyors but unrealistic pricing that is killing the market.

    • 23 May 2011 14:32 PM
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    Phone calls down, I thought we were meant to be in a spring bounce.

    Looks a bad spring for EAs. I blame the Royal Wedding, snow, ash cloud, good weather, Ryan Giggs.

    I do not blame over priced houses in an economic downturn at all. lol

    Also Birmingham being relegated is too blame.

    • 23 May 2011 13:56 PM
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    Brit1234 - If you think that ALL estate agents over-value, then you are as stupid as your posts suggest.

    What you are now finding is the agents that do over-value are being caught out and re-adjusting so their competition do not stomp all over them.

    However, you can always buy a house privately or at auction if the 'problem' lies purely with estate agents - In fact, please do that. Problem solved for ALL.

    • 23 May 2011 13:42 PM
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    @BBB

    Thank you for the son bit! Makes me feel a little younger! But to humour the situation.....here we go Dad...........

    I am so sorry but yawn again!

    My point is not about who thinks prices are too high etc!

    Just for a moment BBB humour me and answer the question relating to the post.....Could MoneyPenny having fewer calls to deal with in April be contributed to any other factor not mentioned in their report?

    Is it possible in anyway that more bank holidays could have effected telephone call statistics? Does every agent on a bank holiday weekend suffer fewer calls than a non bank holiday weekend (forget prices, think phone calls!)

    No matter what the debate or question, the answer will always be prices are too high! Its just boring when you (HPC people) use this on every single subject!

    PS Brit1234... serious question: If you are looking to buy a home, I assume you have a price you know you can afford, would you consider registering with me and I will house hunt on your behalf and see if I can get you what you want! (I am in the north but I am sure EA;s on here and my network collegues would assist you in trying to find you the house for you....If you want me to look for you let me know and you can send me an email with you details and requirements....just a thought but if your serious about owning a home let me know!

    sorry with name this time!

    • 23 May 2011 13:32 PM
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    @BBB

    Thank you for the son bit! Makes me feel a little younger! But to humour the situation.....here we go Dad...........

    I am so sorry but yawn again!

    My point is not about who thinks prices are too high etc!

    Just for a moment BBB humour me and answer the question relating to the post.....Could MoneyPenny having fewer calls to deal with in April be contributed to any other factor not mentioned in their report?

    Is it possible in anyway that more bank holidays could have effected telephone call statistics? Does every agent on a bank holiday weekend suffer fewer calls than a non bank holiday weekend (forget prices, think phone calls!)

    No matter what the debate or question, the answer will always be prices are too high! Its just boring when you (HPC people) use this on every single subject!

    PS Brit1234... serious question: If you are looking to buy a home, I assume you have a price you know you can afford, would you consider registering with me and I will house hunt on your behalf and see if I can get you what you want! (I am in the north but I am sure EA;s on here and my network collegues would assist you in trying to find you the house for you....If you want me to look for you let me know and you can send me an email with you details and requirements....just a thought but if your serious about owning a home let me know!

    • 23 May 2011 13:31 PM
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    Brit1324: This story is not about house prices being to high, its about phone calls.

    But we know you probably don't read the articles, as you only care about one thing, prices dropping.

    To be fair with a lot of news, i will take most with a pinch of salt, in regards to this article, If i were the agents paying this company to take their calls, would be pretty peeved.

    We adjust to market conditions, so whether prices go up or down it doesn't bother me.

    Got our fourth office opening in a few weeks, so I must be doing something wrong

    • 23 May 2011 13:24 PM
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    Re HD "so politely jog yourself on"

    Politely no.

    House prices are far too high and falling. Its not my fault you don't like negative news. For me it is positive news as it indicates home ownership for me is getting closer.

    This is the peak selling period and already all the indicators are all negative, what's it going to be like in off season?

    Stop overvaluing asking prices and you will get more business.

    • 23 May 2011 12:51 PM
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    @Ric

    Come on son, face facts, depending on where you are in the country the property bubble has burst/is bursting/is about to burst (delete as appropriate). Fewer people want to buy because they don't think property represents good value. It's that simple.

    Blaming the lack of interest on weddings, sunny weather etc. is ridiculous and pointless.

    Are you familiar with Occam's razor?

    • 23 May 2011 12:48 PM
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    Brit1234: Your getting a bit boring now, we know your not going to buy until the year 2030, so politely jog yourself on ratther than crying about the prices being too high.

    • 23 May 2011 12:23 PM
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    Rather than constantly blaming bad or negative press you could blame too high asking prices instead which is a real reason things are down.

    Many of us can see actual selling prices continue to fall so we are holding off. However the other big reason we are holding off is to see what is happening to our jobs, wages whilst at the same time our take home pay is getting eaten up by high petrol and food cost increases.

    Till sellers price realistically you sale volumes will remain subdued and likely fall further.

    This isn't 2007, the housing bubble has burst.

    • 23 May 2011 12:09 PM
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    @bbb & chas

    Boring very very boring!

    The phones were quieter in April due to public holidays, perhaps a little to do with less people looking but certainly not the main reason......and like Richard Copus said more and more people using email.....

    Oh and not to forget how many agents have perhaps stopped using MoneyPenney so their stats may have dropped of regardless of activity levels....and if I am right on how MoneyPenny works, are more agents answering the calls before they do???

    Perhaps this just shows Agents become more efficient and do not rely on someone else to answer their calls. Spin it how you want.....MonneyPenny could well be promoting their own downfall with reports like this!

    • 23 May 2011 11:38 AM
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    Maybe something was wrong with the Moneypenny service over this period. I couldn't rule that out at this stage.

    These companies need to remember who the customer actually is before they go releasing negative PR, all for self gain.

    • 23 May 2011 11:32 AM
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    For us April was a rightoff but sales levels have been (relatively) bouyant in May - although still some way off peak.

    • 23 May 2011 11:30 AM
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    Big Bad Bernard is right. Check out the link below, banks suing surveyors for rampant over-valuing, its like the 90's all over again:

    http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8529474/Housing-market-hit-by-rise-in-writs-against-surveyors.html

    • 23 May 2011 11:21 AM
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    Calls for us were definetely signifcantly down in April and start of May. but, this has been compensated for by an extremely busy rush in thelast few weeks.

    swings and round-abouts as it has always been.

    (i am in north london, by the way)

    • 23 May 2011 11:17 AM
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    Of course interest in buying property is falling. Most are hugely over-valued and represent pish poor value for money.

    Deep down, behind even the most bullish facade we all know this. Prices will fall and when they have people will buy again. This is what happens time and again in a cyclical market like ours.

    • 23 May 2011 11:15 AM
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    What complete nonsense this is!

    • 23 May 2011 10:56 AM
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    I can't Imogen who you might be talking about.....!

    Back to the post......HELLO! April 2011 had about 9 working days in it for your average person........

    Mays Miss Money Penny figures will no doubt be on the up!

    • 23 May 2011 10:50 AM
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    Glad we didn't use these people. Do you really want to give money to organisations who give out such negative publicity. Our calls were slightly up for April and most agents in Devon reported a similar trend. Moneypenny ought to remember that more and more people are using e-mail for enquiries rather than picking up the 'phone.

    • 23 May 2011 10:10 AM
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    I don't know about the footballer, but I did hear that Imogen Thomas has got a record deal and has been doing gigs in Manchester. Ahem.

    • 23 May 2011 09:49 AM
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    Still don't know the name of that idiot footballer, and still don't care.

    I do care that the number of calls to my office was noticebly lower than normal.

    Tumbleweed down the high street?

    Everywhere was quiet - a quick walk down the road on Saturday showed me that.

    Usually you have to fight through the crowds, not this last month or two.

    • 23 May 2011 09:29 AM
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    ...hmmm, if we type the name of the footballer, will a) the editior delete the posting or b) will this website reach the national Headlines by lunchtime?!!

    • 23 May 2011 09:25 AM
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    Why not tell us something we didnt know.......such as the name of the footballer in the super injunctions row!!!

    • 23 May 2011 09:15 AM
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