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John Durrant
John Durrant
MD
3195  Profile Views

About Me

Doctor Photo Ltd. (DCTR) is the property marketing specialist providing agents and developers with everything from simple photo-editing services through to fully interactive CGI walkthroughs.

my expertise in the industry

37-years as an estate agent, award-winning. 14-years as a country house photographer. 12 years building Doctor Photo Ltd to its present-day provider of first-rate design and property marketing services for agents and developers. Author of the RICS 12,000-word Property Photography Guidance.

John's Recent Activity

John Durrant
The temptation for agents when there's talk of a downturn will be to cover their ears and sing, 'la la la' but for anyone interested, there is a more complete account of my experiences in the 1973 market on LinkedIn. I can't post links in this forum so feel free to connect with me via that platform if you would like insight into how we survived. Charlie Lamdin has kindly added the post to his Best Agent Linkedin account as well so you can pick it up there. There are a lot of similarities between 1973 and now and it feels as though history is repeating itself - rampant inflation, war, industrial unrest, and so on. The main takeaway I hope agents will gain from this is that a lot of us came out stronger from that market than when we went in and that this time around, forewarned is forearmed - back then we were clueless and we ended up going from 6 instructions to over 600 and being ordered by our bosses to disinstruct ourselves from hundreds of houses where the vendors were not willing to reset their price to take account of what had become a sliding market. Think of what we would have saved if we had been sharper and not taken those houses on in the first place! If you're detecting a downturn then consider that the reasons might be something other than it being August. I appreciate why this is a popular theory but try also to put yourself into the shoes of buyers reading this headline in the Telegraph: “A ‘tsunami of repossessions’ will hit house prices”. I guarantee there will be more headlines like this soon. Be honest, if you were a FTB faced with the spectre of ever-increasing household bills probably exceeding an additional £400 a month over what you had expected, would you be rushing to buy at the moment? A market without FTB's isn't a market that's easy to live with. I THINK that we are approaching the time (if we're not already there) to be extremely cautious with your advice to prospective vendors. Nobody can be sure about the future but there are factual reasons for concern if you read my LinkedIn post. If you're seeing a change in the market and you're honest with your vendors about that then you'll likely lose instructions to more gung-ho agents - but chances are that you will win those back down the line when they don't sell. Don't take it personally when that happens. Just keep in touch and let them know you're there for them if things don't work out. If all agents could accept that taking the foot off the accelerator is a good thing, then if/when there is a crash, there will be less damage and recovery will be faster. IF the market is about to go into reverse, you'll also be doing your clients a massive favour because when the market slides, there's nothing worse for the client or more damaging to your professional ego than eventually selling a house for 10% (or more) less than the price you initially advised. It happened in 1973 it will happen again. Good luck everyone. I REALLY hope this won't be a repeat of 1973 but we live in times that are of great uncertainty. All I'm saying is, please be careful out there. Also, if you do find those good buyers are in short supply, the best way to attract their interest will be by having the best houses to sell. So - really look after your best buyers AND your best vendors - the ones who are listening to you. I truly believe that times like this play into the hands of professional estate agents. Those who are the best at property marketing, understanding what motivates people, and applying their knowledge in real-time will survive. Others might not do so well.

From: John Durrant 25 August 2022 16:51 PM

John Durrant

From: John Durrant 13 July 2022 14:21 PM

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