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Christopher Watkin
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Recent Activity
Let us not forget the Land Registry data is measuring completions, so Aug 22 completions (from the sales agreed in early Spring 22) will of course be higher than Sales agreed in spring 23 that completed in Aug 23.
From:
Christopher Watkin
01 November 2023 07:53 AM
IS THIS NEWS? – These are the completions for April 2023, which will be much lower as we had all the sale fall thrus in Q4 last year. Looking at sale agreed figures (ie sold stc) Last week was the best for residential house sales since the Summer of 2022 with 26,861 sales agreed for the week (up 1.97% from last week Gross sales). The 2023 Running Weekly Average for sale agreeds is 22,125. Now of course, completions pay the wages and Q1 for many agents was truly awful for cash flow because of the high number of sale fall thrus in Q4 (an average of 38.7% fall thru rate in Q4 compared to a 7 year year long term average 24.3%). I am over optimisticon the sale agreed figures … of course sale agreed pipelines are like a house of cards and could collapse over night … yet you still need a sale agreed to make a completion…and 2023 for sale agreed has been so far, very good (we are a Country 94.5% of the 2017/8/9 average for net sales – ie sales after fall thrus). Could it all go t*ts up??? – yes! Just because I’m optimistic, doesn’t mean I’m naive to reality. I’m just aware of the opportunities and the possibilities that can be nurtured through optimism, clarity, and execution. There’s nothing wrong with optimism. It’s better to be optimistic and wrong than pessimistic and right. And if things do go t*ts up, there will still be a property market and the best estate agents will thrive ..again, me being optimistic
From:
Christopher Watkin
01 June 2023 08:20 AM
Surely comparing November to January isn’t comparing Apples with Apples? For example, 2691 properties came onto the market in inner and o outer London between the 1st and the 9th of January 2023, and the same nine days in 2022, it was 2604. Imho - one should be comparing the same month in different years. The property market is cyclical. Apart from that - can’t disagree with with the sentiment of the article. Well written
From:
Christopher Watkin
10 January 2023 08:57 AM
Foxtons market share in London seems to have improved in the last 12/18 months - when it was hovering around 4.7% market share for resi listings in 2020, yet the last 12 months, its been between 6% and 6.3% most months
From:
Christopher Watkin
01 April 2022 11:17 AM
Yet half of the sales in the UK in the last 18 months have only been in their house for 6 years and 18 weeks or less ... its not as simple as dividing the number of houses against the number of house sales ... there eis a two tier market .. those that move every 5/6 years in the 30's and 40's ... and this that stop in their home for 30yrs +
From:
Christopher Watkin
08 January 2022 08:47 AM
Interestingly, Foxton's have increased their market share by 16.7% in the last 2 years (Market Share 2018 3.921% vs 4.576% in 2020) N NW SE SW E Postcodes 2018 vs 2020 using Rightmove Market Share Data for Resi Sales Listings
From:
Christopher Watkin
23 April 2021 12:08 PM
I will give Jason his due .. I thought he answered the questions (there were a couple of toughies in there) really well. Great interview with some some excellent questions from Peter Knight
From:
Christopher Watkin
16 April 2021 09:13 AM
AH .. the stats come from Linkedin. Go to a firm .. then click on Insights and Linkedin collates how long you have been at the firm.Now obviously this wont record people who dont use Linkedin.. yet its good starting place. If you want - call me and I will show you where they are on O795O147572
From:
Christopher Watkin
13 April 2021 21:50 PM
Simon - the stats come from Linkedin. When someones leaves a firms, you tell Linkedin and it collates how long you have been at the firm.Now obviously this wont record people who dont use Linkedin.. yet its good starting place. If you want - call me and I will show you where they are. For example, Choices is down as a median tenure of job at 3.6 years
From:
Christopher Watkin
13 April 2021 21:49 PM
Why is that Freedom Road?
From:
Christopher Watkin
06 April 2021 10:03 AM
Maybe people were happy in their role, maybe their weren't a good fit, maybe they got offered a better job, maybe they weren't good enough for their roles and were found out? Who knows eh ;-)
From:
Christopher Watkin
25 March 2021 10:24 AM
Assuming is a form of giving away your power to another regarding an outcome that concerns you .. so tell me Algarve Investor - what is needed at Propertymark to make it better?
From:
Christopher Watkin
25 March 2021 10:22 AM
Are you a member of Propertymark Steve - and separately, what would you do differently in the CEO role to change PropertyMark for the better?
From:
Christopher Watkin
25 March 2021 10:20 AM
Well lets at least give him a chance ... I mean Richard Branson doesn't know how to fly planes or drive trains - he runs a decent firm .. you never know - he might be good?
From:
Christopher Watkin
24 September 2020 10:37 AM
Or could it be people who just want to help a fellow human being? As Muhammad Ali said, “Service to others is the rent you pay for your room here on Earth.” Could it be Harry Hill and all the mentors offering their time for free only want to build a better Estate Agency profession and instead of wishful thinking, the engagement of volunteers like Harry (and the many others), could make that change, one person at a time. With agents helping agents, surely that could start to make that happen, Michael? Michael - if you want to know more - please do pick up the phone to me
From:
Christopher Watkin
24 June 2020 08:54 AM
If someone took the time to learn and take the Level 4 qualification in estate Agency (which all self-employed agents will need to take if ROPA comes through) - then surely they will able to operate under an agent umbrella - as long as that umbrella organisation guided and supported them?
From:
Christopher Watkin
26 May 2020 12:35 PM
..and why cant those professionals be self employed Angus?
From:
Christopher Watkin
26 May 2020 12:33 PM
Richard - if you watch the recent hour interview i did with Sean Newman - a man who has been doing self-employed estate agency for 10 years - HMRC have already looked at his self employed model twice and are satisfied with it
From:
Christopher Watkin
26 May 2020 12:32 PM
The pie might be smaller Mark Wilson - yet the better agents will survive and stop prostituting themselves on the altar of cheap fees
From:
Christopher Watkin
26 May 2020 12:30 PM
Much lols!
From:
Christopher Watkin
24 March 2020 10:59 AM
He did run Bairstow Eves for many years - starting at Neg - so he has seen his fair share of battles
From:
Christopher Watkin
15 February 2020 09:34 AM
I wondered who would take the helm at PFG - and Ian has done very well to secure the services of Gareth. This is an excellent choice. GA is hard yet fair.
From:
Christopher Watkin
14 February 2020 05:43 AM
What are your thoughts Andrew on the power of Rightmove?
From:
Christopher Watkin
09 January 2020 10:21 AM
100% agreed on this Sam ... This is the way the Ozzies sell around a fifth of their property - how do I know this? Loads of Ozzie EA are at a conference today in London and they said that exact figure
From:
Christopher Watkin
10 July 2019 18:13 PM
If UK Estate Agents dont buck their ideas up and start to see Estate Agency less as a transactional business (get them and get 'em sold) and more of a holistic long term for life relationship between people and moving home (like they do in Oz), the commoditised estate agency model, such as PB have done so well will only continue to grow. Nationally, depending on regions, the average number of buyers that use the agent they bought with is between 12% and 14% ... that shows there is huge opportunity for every estate agent, PB or anyone else. Those agents that stay in the middle will die .. the market will polarise, and agents need to commoditise (like PB and go inexpensive and stack 'em high sell 'em cheap) or go boutique and specialise like hell and offer top-level personal service for top fees.
From:
Christopher Watkin
04 July 2019 07:44 AM
They are the articles that get most readership and comments - so obviously its a topic the industry is interested in Lenny
From:
Christopher Watkin
28 June 2019 08:59 AM
Peter - do you think it was fair what Lee said about Watchdog in the video?
From:
Christopher Watkin
25 June 2019 12:34 PM
AnonAnon .. this is the first of a series of video topics with Lee Wainwright. I have challenged him on the pay upfront model, the charging method, reviews and a number of other PB things (which will be released in the coming week or so) .. yet sorry - I didnt ask him about Lettings
From:
Christopher Watkin
25 June 2019 12:31 PM
I asked some even harder questions about sales progression, online reviews and pay up front model of PB .. these will released in the coming weeks
From:
Christopher Watkin
25 June 2019 08:59 AM
James .. you said "One day of news without mention of PurpleBricks would be lovely!!!" .. yet we all look at the article, watch the video and some even comment ... love them or hate them - its what people are talking about. What did you think to what Lee Wainwright saying he knew PB weren't getting it right and the kicking they got on Watchdog?
From:
Christopher Watkin
25 June 2019 08:58 AM
Well its about time .. the feedback I'm getting from the ZPG Estate Agency and Letting Agency CRM customers has been steadily getting poorer over the last few years ..like they dont care ... I hope this is a turn around so many agents want and need.
From:
Christopher Watkin
23 May 2019 06:26 AM
Good luck Pete
From:
Christopher Watkin
24 September 2018 07:56 AM
You all might laugh at the Purplebricks and Yopa’s of this world and post comments online about them being rubbish, saying stuff like their service is cr*p, they get paid on the listing – not the sale, they aren’t local, they don’t offer a great service, they haven’t got people on the ground, they run it from their kitchen table etc etc … and yes, I would agree with you on all those points .. but most of you agents aren’t doing anything to counter the threat of them ….. apart from posting comments from behind the desks your expensive High Street premises. They have enough money to last two and half years - even if they spend a million a month on TV advertising Some of you have even gone further …I have had many phone calls from High Street agents asking my opinion if they should offer two services …… a High Street offering and an Online Agent offering? Unless you a regional player whereby you can set up your own mini contact centre or as a good friend of mine in the industry suggested … few of you band together as a cooperative of independents (one per town) ..so you can keep the online and High St offering completely separate (so you can make money at it) … if you are an independent, with between one and five offices and you do offer the two services (High St and Online) … you be creating the monster you fear the most, you will make all your potential vendor think they need the cheaper option. "You can have our expensive High St option fee .. or our cheap Online Fee…" ..but if you don’t have the contact centre .. what will you do if a vendor walks into your office to ask a question. Turn them away? Or deal with them .. and that makes a mockery of your online package. You will be devaluing and dumbing down your service, you will be saying, we have this awesome service but we don’t think we are worth it, so you can have this ‘cheap as chips’ option instead. Come on .. wake up and smell the coffee fellow agents in the UK Its time to prove your value, your worth, your value .. how do you do that? Do this ... https://www.linkedin.com/pulse/beating-purplebricks-yopa-own-game-christopher-watkin
From:
Christopher Watkin
16 June 2016 20:05 PM
Terrence - I belong to neither camp - I am just an estate agency industry commenter and in fact, really do 100% agree with you that Hybrid is just forward thing agents changing with the times. If you were interested .. here is my thoughts on how agents could counteract the Purplebricks threat by playing them at they own game ..(note its 5,000 words long - not for the feint hearted ! ) HOW TO BEAT PURPLEBRICKS AT THEIR OWN GAME https://www.linkedin.com/pulse/beating-purplebricks-yopa-own-game-christopher-watkin
From:
Christopher Watkin
13 June 2016 11:58 AM
Smile .. you asked, "Are you suggesting High Street agent lie to the public to show why they are different? ". Quite the opposite - I am suggesting agents should prove their worth and value. Agents seem to think to prove value, worth and difference, they should market themselves as the biggest, the best, look what we have sold, best opening hours, most experience etc etc .. but people aren't that interested .. or at least the 97% of people who aren't trying to sell their property. What I advocate instead, to prove worth, value and difference is talk about something that interests, intrigues, educates and helps potential vendors - so when they need an estate agent - they have already decided to us that agent months or years before ... because of the very fact they interesting, intriguing, educational and helpful. If you (or anyone else) were interested - I have written 5,000 word paper on how High Street Agents can beat Purple bricks at their own game. I warn, its in-depth and very meaty ... https://www.linkedin.com/pulse/beating-purplebricks-yopa-own-game-christopher-watkin
From:
Christopher Watkin
13 June 2016 11:54 AM
Smile Please - I agree an agent based in a town will have greater knowledge of the local market than an agent who covers many postcodes from their kitchen table. A High Street agent gets paid on the sale whilst a PB get paid on the listing. Physically being there should mean a better service. 100% agree with you. .. but the fact is, they are selling on fee. .. and some agents will try an compete with them .. by lowering their fee. At first, the process of lowering your fee involves smart efficiencies. It forces hard choices that lead to better outcomes. Over time, though, in a competitive market, the quest for the bottom leads to brutality. The brutality of harming your suppliers, the brutality of compromising your morals and your mission. Someone else is always willing to go a penny lower than you are, and to compete, your choices get ever more limited. As Seth Godin says, "The problem with the race to the bottom is that you might win. Even worse, you might come in second" To cut the price a pound on that ebook or ten dollars on that plane ticket (discounts that few, in the absence of comparison, would notice very much) you have to slash the way things are edited, or people are trained or safety is ensured. You have to scrimp on the culture, on how people are treated. You have to be willing to be less caring or more draconian than the other guy. Every great brand (even those with low fees) is known for something other than how cheap they are. Henry Ford earned his early success by using the ideas of mass production and interchangeable parts in a magnificent race to the most efficient car manufacturing system ever. But then, he and his team learned that people didn't actually want the cheapest car. They wanted a car they could be proud of, they wanted a car that was a bit safer, a bit more stylish, a car built by people who earned a wage that made them contributors to the community. In the long run, to be the cheapest fee is a refuge for agents who don't have the flair to design something worth paying for, who don't have the guts to point to their agency service and say, "this isn't the cheapest, but it's worth it." ... and this is my point ... estate agents are rubbish at proving that value .. they all look the same.. they all market themselves in the same way ... and if we aren't careful ... we will all start to look the same .. and in the absence of value and differentiation .. you cant blame people going for the cheapest agent
From:
Christopher Watkin
13 June 2016 10:18 AM
High Street Agency really needs to buck its ideas up and improve its offering to compete against the likes of Purplebricks and Yopa. Customer Service issues, which can be sorted, are teething issues. Any agent who poo poos them, that is what High St Insurance brokers said of Go Compare and Compare The Market, that is what Blockbuster said of Netflix and Lovefilm, that is what Woolies/Comet/Bookers said of Amazon ....
From:
Christopher Watkin
13 June 2016 08:34 AM
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