x

Michael Day

Managing Director

3327 Profile Views

About Me

Straight talking, no-nonsense business mentor, adviser, trainer and coach to over 600 property industry clients.

Away from business - family man with a wife, two children and six grandchildren.

Watford FC supporter and shareholder.

Guitarist, singer songwriter and wanna be rock star!

my expertise in the industry

Forty plus years in the residential property industry (I started when I was three!). Fellow of RICS and NAEA and hold an MBA from Reading University. 3 x ESTAS winner. Shortlisted Finalist in Negotiator Awards for last five years - 2013-2017. Rated Exceptional and overall Bronze Award winner in Estate Agent Supplier of the Year 2018 supported by the Property Academy. Was a Partner at A C Frost & Company, Regional Director at Prudential Property Services and a Director at Connells and Conveyancing Direct. Founded Integra Property Services in 2003.

Michael's Recent Activity

It’s a living breathing business. It breathes in, it breathes out. With the consolidation within the software part of ZPG there will undoubtedly be some blood on the carpet. Obviously sad for those directly affected but one door closes, inevitably another opens.

From: Michael Day 23 June 2022 14:02 PM

Digital ID may well be a straightforward way to handle the vast majority of U.K. based ID requirements. Agents should be using a digital provider as they need to undertake PEPS and sanctions checks and all of the decent providers have access to the live datasets. Moving forward once the Digital Trust Framework is in place then we may not have the issue of ID being required several times by several participants in the process. What however never gets mentioned by digital ID providers is that ID is only part of AML compliance - the other element is undertaking a risk assessment on the people and transaction they are undertaking. Knowing who someone is is a mandatory requirement but so is looking at the risk profile - for example a PEP automatically would be a higher risk and require greater vigilance. Ascertaining source of funds as part of that risk assessment is probably the most important element. Note I said source not proof of - every money launderer that has ever existed had the money - it’s where it came from that is key!

From: Michael Day 18 June 2022 09:56 AM

One “side” of a story. Had to contact the database and create business. - what instead of sitting there waiting for the phone to ring? The pay structure referred to (with the exception of the car usage where I’m going to guess that employees aren’t carrying appropriate insurance and the company directors could be liable for corporate manslaughter in a terrible accident scenario) Is fairly standard - the employee seemingly had a basic salary, pension, holiday pay, an office to work from and a database to farm. The reference to gazumping is a red herring and nothing to do with referring to a preferred conveyancer. The company the “whistleblower” worked for isn’t named and may not have managed their team very effectively but is hardly indicative of the entire “sector”

From: Michael Day 23 May 2022 08:16 AM

All improvements in knowledge and skills are to be commended but ROPA is still a long way off (if it happens at all) and, with no agreed syllabus or timescale, the only “fear” factors about ROPA are those being created and pushed by those with vested interests.

From: Michael Day 10 May 2022 08:06 AM

When covid first hit, many agents moved to carrying out accompanied virtual viewings as a first stage. Most have gone back to ”old ways” I expect many to realise they should have persisted and revert - productivity is the key to profitability. Of course, quality qualification of enquiries is key.

From: Michael Day 07 April 2022 08:08 AM

There have been many AML investigations and fines since Countrywide although enforcement still needs ramping up. For example- Purplebricks were fined £267,000 subsequent to the Countrywide prosecution.

From: Michael Day 19 February 2022 10:01 AM

Shame about the contradiction in the closing paragraph which I hope means he doesn’t have to spend the festive period getting the splinters out of his backside from sitting on the fence. For what it’s worth, I don’t see values continuing as they have under a Government fuelled recent period but supply and demand and the likelihood of low cost borrowing do not suggest to me the bursting of any bubble.

From: Michael Day 22 December 2021 13:45 PM

From: Michael Day 04 December 2021 09:23 AM

Well done Claire. A fun marketing differentiator that will be difficult for most "tone deaf" estate agents to follow!!

From: Michael Day 27 November 2021 10:23 AM

Sounds as though the deal is “book buying” rather than including additional premises etc and so Chestertons should be able to create “added value” from the transaction on many levels.

From: Michael Day 22 November 2021 14:00 PM

Fees for consumers should be shown inclusive of VAT so example should read 1.2% inclusive of VAT.

From: Michael Day 28 September 2021 07:12 AM

Poor Nicky - I hope the reference to senior refers to her role rather than age otherwise there’s no help for some of us!

From: Michael Day 05 August 2021 09:55 AM

Neither Boomin or Zoopla have to answer to “the City” like Rightmove and OTM whose data may be open to more rigorous interrogation by analysts. Everyone understandably wants to make their offering look the best and stand out. The more portals differentiate and quote differing stats the more difficult it is compare between them on a like for like basis. That is probably an advantage in some situations and a disadvantage in others. Most agents in my experience are poor at closely monitoring the ROI on the use of portals - this works in favour of them all. Agents know that half of their marketing spend is wasted - they just don’t know which half! The more monitoring/tracking both in volumes and quality that can be done, the more objective their decision making can be.

From: Michael Day 05 August 2021 09:53 AM

Jason has, as you say, gone on a “charm offensive” but this has, crucially and rightly, involved more listening than talking. The “honeymoon” period will only last so long though. Therefore he has identified some “Low lying fruit” and has already introduced a number of partnerships with suppliers that will bring tangible benefits to member agents. Under his leadership, OTM has also completed its acquisition of Glanty (teclet) and whilst this will require some continuing investment it brings a significantly enhanced series of software platforms to the table than were in situ when the acquisition was originally brokered. teclet is set to be a major force in the sales, lettings, property management, client accounting and CRM space with its modular and customer facing approach that joins up best in class providers and helps agents reduce costs, increase productivity and generate more income, all within an automated and compliant environment. The journey for Jason has begun well but the competition will not stand still. Winning the hearts, minds (and wallets) of both agents and consumers will require more innovation, out of the box thinking and excellent delivery. I think he can do it. Time will tell as history is always written by the victors!

From: Michael Day 03 July 2021 10:15 AM

Murray - there is a "slump" in all agency instructions. You actually said so in your recent interview with Chris Watkin. The recent "survey" was flawed in that it only looked at online agency numbers with no relativity to the overall market. Without that comparison on a like for like basis it is difficult to make clear judgements as to whether a particular sector or business is performing below, in line or ahead of the market. It could be that the online sector is doing better than the traditional "High St" sector (I doubt it but I can't be certain) Its a bit like quoting % uplifts in press releases. In this press release - YOPA has seen a 350% increase in mortgages written and revenues in its mortgage business in a six month year on year period. Could be that it did a pound last year and three pounds fifty pence this year! Meaningless really.

From: Michael Day 25 June 2021 08:25 AM

The tall lad with the hair? Jealousy Bob? (I know the feeling) His name is Tyron Mings (at least I assume that is who you meant). As a property link - he used to be a mortgage broker. First time I’ve ever read a match report that didn’t give the result (other than indirectly) or mention the goal scorer (it was Sterling) Not the time to give up the day job just yet!

From: Michael Day 14 June 2021 08:06 AM

There is a long history of Government interventions in the housing market. Nearly all created a short term boost followed by a period of retraction. Governments invariably take short term decisions in order to get re-elected rather than fundamentally change things that might take longer to show true benefit. This intervention slightly different in that it kept the entire residential sales industry trading during the depths of the pandemic plus ancillary business. Stamp duty needs a complete overhaul and reform of the home buying and sales process, use of digital etc will accelerate.

From: Michael Day 07 June 2021 09:20 AM

Hi Agent Sensible. I agree with your comment about "the ability or otherwise to be trained to be an estate agent" and, as a delegate on that webinar, took issue with the comment at the time and still would. It was however a round table discussion on mentoring not training (there is IMO a significant difference) and was certainly not giving any stated position from Agents Together which is purely there to support people in the industry.

From: Michael Day 23 May 2021 12:30 PM

Interesting but lots of unknown factors and averages are not always a useful measure. For example if an agency has strong management processes there may be a higher turnover particularly amongst those who are recruited without previous sector experience and during probationary periods. This could be seen as healthy as it would show only those that develop and perform stay. This would bring down the average but it could be that those who grow and develop are there for years whilst the weak and unsuitable churn. A company could actually have a strong retention rate but a few particular positions have changed more regularly - this would bring down the average but not be a reflection on the organisation overall. Interesting that some of the more successful organisations (Connells in particular) are at the lower end of the longevity numbers - they are possibly more demanding and set higher standards. Time is not a healer of poor performance and are therefore possibly less likely to keep “dead wood” An interesting post but I wouldn’t draw any conclusions about the quality or otherwise of a business from this measure alone.

From: Michael Day 13 April 2021 08:59 AM

It is clearly too early to judge. The current inventory is understandably low and Boomin will need to work hard to win agents and consumers in the coming weeks. Each group will help grow the other. Full integration with CRMs will be vital - currently that functionally at launch is limited. The “bells and whistles” that Boomin offers will also take time to be understood by both agents and consumers - I feel they are steps in the right direction but that there are stronger ways of gaining engagement, lifetime relationships and monetising traffic - we will see. None of the major competition in the portal market will be standing still with new marketing and investment in new technology sectors, products and services coming to the fore. Inevitably the excellent Boomin PR and marketing machine will be putting out positive messages in the coming days and, hopefully, we will be able to monitor facts not just hyperbole. We live in interesting times.

From: Michael Day 03 April 2021 09:41 AM

Too many rotten apples and skeletons in cupboards. Perhaps Tim found out more than he was meant to and didn't want to tarnish his reputation. The board need to make a clear statement ASAP - a problem of an organisaton supposedly led and governed by the volunteer board but, in reality , largely run by the paid executive. The PR handling of all of these situations has been appalling - probably trying to protect people but consequently creating more speculation and conjecture.

From: Michael Day 17 February 2021 13:14 PM

Not impossible but difficult to police as nothing “registered” at exchange of contracts and possibly open to dates being changed on paperwork.

From: Michael Day 16 January 2021 09:48 AM

I wish Tim well but I think RICS with its royal charter and global experience of training, standards and regulation might take issue with his comment that only Propertymark can provide professional accreditation. As a Fellow of RICS, NAEA and ARLA I broadly support the aims of ROPA but I remain to be convinced that the routes to, as yet, undefined qualifications, will serve the industry well. Vocational as well as academic testing needed. IMO the essential element to higher standards is enforcement and licensing. The vast majority of rogue activity or lousy service delivery will not change because of qualifications but via policing and enforcement of a licensing regime.

From: Michael Day 16 January 2021 09:44 AM

I wish Tim Balcon well. He has a significant task to both demonstrate and persuade the industry that Propertymark is really fit for purpose and to be trusted as the “voice” of a fragmented industry. The organisation has still, over decades, failed to “cross the divide” between being a trade body promoting its members and a professional and, in the eyes of consumers, regulatory organisation. The potential offered by a future implementation of ROPA is significant but, IMO, Propertymark will need to significantly improve if it is to be considered as the “voice of the industry” and as worthy of being its regulator.

From: Michael Day 15 January 2021 08:05 AM

I didn’t think the holiday should have been introduced in first place but it has achieved its objective of stimulating the market but it has to end at some point. Every similar Government intervention in history has created an element of boom and bust. Transactions have, in the main, simply been brought forward and squeezed into an artificially short timeframe. The current lockdown will inevitably see reduced levels of new transactions and so gives a greater chance for current pipeline transactions to go through. I personally don’t think the Government will extend but if they do it is likely to not be announced until after the February half term review. We are living in fast moving and challenging times. Lot of talk of the £15000 “saving” but, nationally, the average sale price is £250,000 and so the average “benefit” of the SDLT “holiday” is significantly lower. Whilst there may be some renegotiations I don’t see the “wholesale” aborting of huge numbers of transactions. People basically don’t buy property for short term gains or reasons. The feel good factor of defeating the virus will have a far greater impact on the market than any short term stimuli.

From: Michael Day 09 January 2021 09:54 AM

Qualifications have always been useful and exams results are a measure of learning and knowledge but are certainly not a judgement on integrity or good practice. Governments have, since not introducing section 23 of the EAA 1979 (competency requirements), always preferred competition over competency. There is plenty of legislation governing the industry and its practices - it is robust enforcement that is needed. I’m in favour of raising standards but mandatory qualifications without licensing and enforcement will be a missed opportunity. I think we are at least 4/5 years away from ROPA (needs a syllabus, exam structure, regulatory body, licensing, time to implement etc) so many have time to develop their exit strategies if they wish to call it a day.

From: Michael Day 31 October 2020 09:43 AM

Rule 3.18 of the ASA/CAP Code states “Quoted prices must include non-optional taxes, duties, fees and charges that apply to all or most buyers. However, VAT-exclusive prices may be given if all those to whom the price claim is clearly addressed pay no VAT or can recover VAT. Such VAT-exclusive prices must be accompanied by a prominent statement of the amount or rate of VAT payable”. It is built into various codes of conduct that any agent should therefore quote fees to consumers as inclusive of VAT as, in the main, they are unable to reclaim it. Sadly, some agents do verbally quote a headline fee without mentioning VAT - for example, 1.5% which should be 1.8% inclusive of VAT. I also do still occasionally see written terms of business that mention VAT but exclusively not inclusively. In this respect for this survey to suggest people get a shock when they get the bill is a nonsense although, as material information (as defined under Consumer Protection Regs, an agent should be making consumers aware at the earliest opportunity and certainly before any transactional decision has been taken. Having said the above, I do not have any evidence or support the view that agents are "trained" not to mention VAT.

From: Michael Day 28 August 2020 08:24 AM

Rightmove undoubtedly has the key weapon in the portal wars and that is consumer recognition and reach. The No to campaign made a lot of noise but it’s only real weapon was to leave and, as yet, that hasn’t happened in any meaningful quantities. Rightmove has played a “war of attrition” game which it probably feels it is winning. It’s share price has risen 20% in last 3 months but OnTheMarket’s has actually risen 124% in the same period. Lots of new entrants about to muddy the waters with better technology offerings but currently zero consumer reach. I expect some early consolidations or failures.

From: Michael Day 08 August 2020 10:54 AM

Seemingly disingenuous comments from Mr Riley to which Chris Watkin and Kenny Bruce have responded. My views is that you can have anything you want in life if you just help enough other people achieve what they want. There is no compulsion for anyone to interact with Agents Together but the offer of help is there for any who wish to take advantage. With the exception of the foundation CEO, none of the other mentors are being remunerated and are giving their time because they care and believe in what is being set out to be achieved. Early feedback has been fantastic from those that have already engaged. Is Agents Together a Sales Funnel for something else? The answer is no and, if it was, I would not be involved as a Founder Member. Will it possibly generate positive PR for those involved and giving up significant time to the cause? We'll see? I hope so as it will mean the aims of the foundation are being met!

From: Michael Day 25 June 2020 10:24 AM

For me, the most interesting stat from the survey was that 67% of business owners saw no change yet less than 30% of employees feel the same way. That is a huge disconnect and one that is likely to cause considerable grief and disruption in the weeks and months ahead as we come out of the current crisis.

From: Michael Day 20 May 2020 08:38 AM

Interesting interview. I have the utmost respect for Trevor although this would increase if his actions matched his words. He espouces not needing three portals and the benefits of OTM vs Rightmove and Zoopla yet Glentree continue to list on all three, presumably because commercially it makes sense to do so.

From: Michael Day 20 May 2020 08:35 AM

The letter from Simplify, MAB and landmark was dated 15th April so I believe it was well ahead of Countrywide's correspondence and made a much more powerful argument than Paul Creffield's "plead" as it took an industry wide view not just an individual business's perspective. Of course there is lots of other "lobbying" going on across the sector (and, of course, other sectors). Why was the Countrywide letter published in full yet the Simplify, MAB and Landmark letter only paraphrased?

From: Michael Day 05 May 2020 09:28 AM

The devil will clearly be in the detail here. Lots of the newly "self employed" will simply not have traded long enough to qualify or will not have been making "profits" Those of us who are effectively self employed but have limited companies and take earning via PAYE and dividends seem at risk, We can't furlough ourselves as Directors. £50,000 of profits - what type of profits - gross, net? Looks like a few hours will need to be spent pouring over the detail but, well done to the Government on continuing to try and support people through this unprecedented time.

From: Michael Day 26 March 2020 18:31 PM

How can transaction prices compete with the open market when they buy at circa 15% of open market value? Comment misleading at best. There is however a market for certainty and a transparent below market value option will suit some but not all. Nested’s proposition apoears clever in that it attracts well motivated sellers whilst providing the “backstop” of a purchase if needed - which it often isn’t.

From: Michael Day 26 March 2019 19:30 PM

OkayLah! Yawn! I didn’t spend more than a couple of minutes but no listings in Greater London, Greater Manchester, Birmingham, Bristol, Leeds - I gavd up as would a seller or buyer.

From: Michael Day 01 February 2019 08:45 AM

Excellent news following a tragic and sad passing of one too young. Jordan’s family can hopefully take some solace in knowing that their son has given the gift of life to so many others.

From: Michael Day 23 October 2018 07:45 AM

A 200 word response piece? Krystjan will have to be at his most succinct and punchy to tell one, let alone several, positive stories with such limited copy. Good luck.

From: Michael Day 24 May 2018 14:51 PM

Congratulations Graham. It was good to see you at the awards night. Top man!

From: Michael Day 17 May 2018 07:36 AM

OTM may have gained some initial appeal with many agents with its "break the duopoly" strategy but unless it starts to win the hearts, minds and pockets of consumers, they could offer it free to agents and it will fail to provide value. In the meantime, Zoopla expands and grows through other channels, data capture and service delivery and Rightmove laughs all the way to the bank!

From: Michael Day 16 January 2016 09:55 AM

Breaking News