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Richard Rawlings

Founder

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About Me

https://www.linkedin.com/in/richard-rawlings-8a38179

my expertise in the industry

Estate Agency Trainer, Content Writer, and motivational coach.

Richard's Recent Activity

Without wishing to sound irresponsible, this need not concern us. As estate agents, we are interested in transaction volumes, not values. If the market suggests there might be pressure on prices, it will be those agents who are committed to effective price reductions (or a "repositioning in the market") that will prosper. This is a time of great opportunity for those agents who choose to embrace it by taking a slightly different approach to the norm.

From: Richard Rawlings 04 March 2024 09:39 AM

I couldn't agree more - it is embarrassing. But it's the time taken to exchange rather than completion that causes the most stress and lack of certainty. Good agents will urge their sellers to complete their TA6/7 and TA10 at time of listing (as well as appointing their solicitor up front). The seller should even pay for and order searches in advance and, in an ideal world, even commission a survey. The more information provided up front the better, as it is the delay in securing these things after a buyer is found (during the buyer remorse period) that allows sales to fall through. Shrink that window of opportunity and you'll shrink your fall-through rate too. And don't even get me started on binding offers!!!

From: Richard Rawlings 21 February 2024 07:53 AM

I agree with John. With greater pressure on FTB’s and higher LTV mortgage purchases these figure could actually be pointing to lower activity at the bottom of the market - hence the mean average price appears to have risen. Also “those in the property sector” don’t necessarily get excited by rising values. They prefer turnover, and it can be unhelpful when misleading stats are published that might give sellers false hope when most agents actually need them to reduce their asking price! If you want to know the direction of the property market, look instead at absorption ratios.

From: Richard Rawlings 05 July 2023 15:25 PM

Not going to say “I told you so”! Yet there are still agents who come out fighting saying “but you can’t get 2% in my area!” NONSENSE - it’s just that they don’t have either the confidence, pride in their work or (learned) skills to charge what they are worth! Experience does not enable you to instantly charge higher fees - but TRAINING does! Have a great day.

From: Richard Rawlings 02 June 2023 07:59 AM

Excellent research and well-reasoned conclusions Simon. Cutting to the chase however, and as an international estate agency trainer, may I humbly suggest that it could just be that as qualified agents are de facto well- trained, that part of their training focuses on HOW they can indeed charge the fees they deserve. Anyone who has attended my “raising fees instantly” course will tell you that they learn about the psychology of persuasion and are empowered with over 80 fee-raising dialogues. Too many agents wing it without training and then complain about low fees with a hundred excuses! Have a great day.

From: Richard Rawlings 26 April 2023 07:49 AM

100% agree Peter. The housing minister’s reply can effectively be translated as “don’t be stupid, we’re going digital, because it’s obviously better”!

From: Richard Rawlings 13 March 2023 09:10 AM

With the greatest of respect to Nick and the fabulous team at JSS, are not these figures somewhat misleading in that they prompt cash buyers to make low offers? Yes, cash sales may be at a lower figure than mortgaged ones, but surely this does not mean that sellers are necessarily accepting 6% lower offers from a cash buyer. The research simply suggests that cash sales tend to be slightly cheaper than mortgaged ones. But this is because, by default, someone with a mortgage has more money to spend on a property than someone without a mortgage! When you also take into account the downsizers mentioned in the article, it becomes obvious that their purchases (mortgage free) will be at a lower figure than those buyers upsizing with a mortgage. Surely we should be comparing mortgage and cash sales against their respective ASKING price, not the average sale price? Only then could we legitimately tell if cash buyers are able to negotiate a lower price.

From: Richard Rawlings 27 January 2023 09:04 AM

I agree Chris. Most agents DO more or less the same thing. So it comes down to two other attributes: WHO you are, and HOW persuasive you are. The first is inherent and the second is a training issue/opportunity. There is no excuse for pathetically low fees. 😊

From: Richard Rawlings 24 January 2023 09:45 AM

100% with you on all these point Graham. They do over complicate things and seem to have little grasp of the support they might enjoy as a result of taking a “can do” attitude. Other countries have got most of these things right - why not the UK (esp England)?

From: Richard Rawlings 20 August 2022 09:48 AM

Couldn’t have put it better myself James! 100% right.

From: Richard Rawlings 10 August 2022 08:19 AM

Really excellent advice Steph - deep, informed and concise. Thank you. One thing you have taught me is that it is an evolving and complex landscape. I pride myself on my content, for both my business and and my estate agency clients, but when it comes to efficiency of targeted delivery - that's when I start to get out of my depth. I'll be in touch in the next few weeks to see if you can perhaps help me there! R.

From: Richard Rawlings 13 July 2022 16:00 PM

100% Carl - I hear this all the time, except from the weak agents who say "you'd never get 2% in my area" as an excuse for their lack of commitment to themselves, or simply not having been trained effectively. Keep it pumping and I look forward to hearing that you are now on a consistent 2.5%-3% shortly.

From: Richard Rawlings 20 May 2022 15:27 PM

"while some may have cut fees to gain market share during the stamp duty holiday" - NONSENSE! Cutting fees is not the way to gain market share. It is a slippery slope to oblivion! If someone tells you they went with another agent because that agent quoted a lower fee, that does not make it a fee issue. It simply means that the seller did not recognise the value you brought to the table. You need to up your game, learn how to persuade the client and secure the listing irrespective of your fee. You owe it to yourself to defend a decent commission, of AT LEAST 1.5% and ideally 2%+. Have a great day!

From: Richard Rawlings 20 May 2022 11:21 AM

In theory yes Paul but any decline in volumes would more than offset this. Additionally we are by far the cheapest agents in the world - any other sales related role is usually recognised by at least 15% of the eventual sale price. Whilst this would be unrealistic in residential sales most British agents completely undervalue the contribution they make to not only securing the best price the market will pay for a property but also ensuring that the deal goes through. Other agents around the world do not have a hassles we do but charge up to 10% or even more!

From: Richard Rawlings 09 April 2022 10:00 AM

Is a desk heater really an “indulgence”? If agencies can’t afford to look after their staff to a decent level of comfort then perhaps they need to take a deep look at their business, as there are obviously wider issues to be considered.

From: Richard Rawlings 07 April 2022 08:03 AM

A “legend” used to be someone who drew swords out of stones, but I guess we could honour Mark with the title! Enjoy your retirement Mark and thank you for your contribution to our industry.

From: Richard Rawlings 06 January 2022 07:51 AM

Completely agree with Mark re fees and binding contracts. Both these issues are instantly solvable and would elevate the status of our fabulous industry. I don’t think a better service would necessarily deliver higher fees though - we already do far more for our clients (but not buyers) than agents in most other countries as we are so deeply involved in fiddly sales progression. Abroad, most agents are hands off once a deal is agreed, due to binding contracts. We charge pathetic fees for a job very well done mostly. It’s just that agents have been weak/desperate in the face of cheap competition and are usually poorly trained in the art of persuasive pitching.

From: Richard Rawlings 06 January 2022 07:47 AM

100% with you on this Chris. Relevant, interesting, meaningful, timely, engaging material from the heart.

From: Richard Rawlings 21 December 2021 08:54 AM

Absolutely not Jan. I’m sorry but if you think it all comes down to price and fee you clearly, with the greatest respect, have not been well-trained in the art of estate agency, especially persuasive listening skills that do not focus on asking price and also help secure you a much higher fee than your competitors.

From: Richard Rawlings 21 December 2021 08:53 AM

How about using a tax on uplift for sellers to replace SDLT for buyers? This would put the burden on those who already have (unearned) equity rather than on those struggling to save it out of earned (and taxed) income. Much fairer surely?

From: Richard Rawlings 09 December 2021 08:20 AM

Just goes to show, if Director-level behaviour is anything to go by, that RICS affiliation does not necessarily equal "professionalism". Very sad for all those who carry the designation to have it undermined in this way. Why can't people just be decent and straight. These are the very attributes that the vast majority of British estate agents work hard to promote. Sad day.

From: Richard Rawlings 08 September 2021 14:55 PM

Thanks Simon - I look forward to seeing your entry. Already got a few in! Have a great day.

From: Richard Rawlings 07 September 2021 10:36 AM

Very well said Chris (and indeed Nat!) Character and personality over "process" any day. Hence being a little miffed by your comment about "respected" trainers! Anyone who has attended any of my courses will tell you that there is an overriding focus on harnessing the character of the individual agent. Whilst of course there will always be specific "techniques" to train (eg how to persuade a seller on price or fee), none of these work unless delivered by a trustworthy, likeable, articulate, and enjoyable individual of character. As I have always said, YOU are more important than your brand! Have a great day.

From: Richard Rawlings 03 September 2021 12:56 PM

You're right James - the purpose of property details is to stimulate interest from prospective buyers. For that, all you need is "How big is it, what does it look like, where is it, how much is it, and how do I arrange a viewing if I like what I see?" Most of the other details are only of interest to people whose interest has been established. And the good agent, with these readily to hand, can articulate exactly what the buyer wants to know, thereby elevating our standing as helpful, connected, professionals!

From: Richard Rawlings 21 April 2021 09:37 AM

There are so many things good agents should be including but seldom do. eg why do agents usually state that "the property is in Band D Rateable Value". Why make the buyer have to look this up? Just quote the current amount the buyer will need to pay. And while you're at it why not also be helpful in quoting the utility costs the seller typically pays. Or resident's parking permit. And how about a quote about what the seller has enjoyed about living in the property. And (swallow hard) the fact that the helpful agent has already ordered the searches in anticipation of a sale. And that there is a contract of sale ready to be assigned to a buyer, complete with standard answers to pre contract enquiries. And those are just for starters! Don't get me going. Have a fruitful day.

From: Richard Rawlings 21 April 2021 09:27 AM

Question: Won’t the government’s 95% LTV mortgage guarantee, supposed to help first-time buyers, actually work against them as it is not restricted to first-time buyers. So FTBs will find themselves in competition with second and third time movers especially in the £300,000-£600,000 price range. This will inevitably put price pressure on the very sector the facility is supposed to be supporting.

From: Richard Rawlings 04 March 2021 07:29 AM

Fabulous! Couldn’t have happened to a nicer firm that’s really making waves in my home town of Cheltenham. Does what they say on the tin - with realism and sincerity. George and his team have been clients of mine for several years and I’m proud to have played my small part in their journey. Going from strength to strength. CONGRATS!

From: Richard Rawlings 04 March 2021 07:15 AM

Sorry - but what's the point of NAEA membership? Unlike the Propertymark's US counterpart, the NAR, the organisation seems to have become pretty toothless anyway, irrespective of its management confusion. Of hundreds of agencies for whom I have provided marketing copy based on the agency's specific attributes, not one has ever asked me to promote their membership of the NAEA. When I was an estate agent myself, the only reason I joined was to get the sticker for the window as some sort of "ABTA" style flag of implicit trustworthiness. But that doesn't work anymore, especially as Propertymark appears to have no interest in promoting the advantages (?) to the public of using a member agent. On-line reviews have replaced this function - and they're more reliable too as an indicator of user-experience. In fact, for a mediocre agency, NAEA membership is easier to acquire than good reviews so it could even be counter-productive! It would seem to me that The Guild of Property Professionals has replaced the NAEA in most aspects. It's innovations and member support are outstanding and much more akin to a professional association than to the commercial operation it is. If it were me, I know who's sticker I'd want on my website! Just saying!

From: Richard Rawlings 16 February 2021 10:05 AM

Why not have SDLT paid by the seller? For the following reasons: 1. The seller has usually made a considerable capital gain, which is otherwise tax free. 2. The seller is more likely to be able to afford it than the buyer. 3. The buyer would have a higher deposit and therefore qualify for better mortgage deals and have a greater choice of homes to buy, or: 4. The buyer would require a smaller mortgage, making home ownership slightly more affordable. What's the downside? (Apart from the fact that the seller would have higher apparent costs, which might put pressure on agency fees, unless deflected well by the agent). No matter who pays the SDLT, it all comes out of the same pot eventually! But it would seem more equitable for this to come from the seller.

From: Richard Rawlings 13 January 2021 10:46 AM

I agree - this really is blowing up something out of nothing. It was clearly a human entry error (eg hasty cut'n'paste). Does anyone really think that an agent expects to gain anything by suggesting a tiled floor when it is not tiled? The main issue here is either the complainant was a (very sad) individual who thought it worthy of ASA, or, more likely, an even sadder competitor trying to get Move into trouble. If the latter, then it is a case of an agent pulling his/her own industry down. I know Move and they are a fine agency, well-deserving of their many awards. We all make mistakes and they immediately rectified theirs. There by the grace of God goes every one of us I suspect. Note to editor: please file in the "fake news" folder!

From: Richard Rawlings 16 December 2020 10:20 AM

Sounds like a great insurance opportunity here, given the worry that movers would experience if they hear of stories like this. But the insurers would also no doubt include a clause excluding liability in the event of whatever it was that caused the loan withdrawal in the first place! But how about insurance for anyone else in the chain innocently affected perhaps?

From: Richard Rawlings 03 December 2020 09:43 AM

From: Richard Rawlings 16 November 2020 15:33 PM

or the fee he charges when quoting his service! (or her of course). Surely we should have the right to at least pitch for the business before revealing our fee. Otherwise it subliminally forces the consumer to focus on fee, not the service, style or personality of the agent.

From: Richard Rawlings 16 November 2020 15:32 PM

"Dictated by the VENDOR's ability to negotiate"??? Surely they pay US to be better negotiators than them! This really is cart before horse and probably only applies to agencies that have failed to train their agents accordingly! :)

From: Richard Rawlings 16 November 2020 15:29 PM

I worry that estate agency may be on a slippery slope towards a fee environment whereby fees have to be clarified even before meeting the client. This would seriously undermine the essence of how and why people choose one agency over another. Research, along with most agents’ experience, continues to confirm that the singular most important influence on a seller’s decision is not as objective as regulators might hope. It is simply that the seller “prefers the individual”, closely followed by recommendations and good reviews. In a business where we are often called to be counsellors and mediators as much as salespeople, it is essential that the public should not be persuaded to consider the fee ahead of agents’ ability to deliver a smooth and enjoyable experience - where softer skills are often held in as high regard to performance stats. It is the partial intangibility of a good agency that enables some agents to shine and charge a healthy 2%-3% commission, which their clients are more than happy to pay. Surely this is true competition as it widens the playing field with a massive range of agency styles and personalities, where character is highly prized by those prepared to pay it. It also allows cheap agents to operate as well, ensuring healthy competition that credits the consumer with enough intelligence to decide which agency they prefer, on their terms. Have a great day.

From: Richard Rawlings 16 November 2020 08:12 AM

All I can say is, when Michael Bruce showed me the presentation himself, my jaw dropped, the juices started flowing and I realised that agents and the public alike are in for a real treat with Boomin, which takes the whole concept of "portal" (and it's much more than that) to an extraordinary level. This is very much a space to watch in the coming weeks and months.

From: Richard Rawlings 25 September 2020 08:45 AM

This high level approach is innovative but will not be of interest to most agents who swim in a different pond. However, Buyer Representation, when correctly integrated into regular agency, is one of the greatest opportunities to add a whole new revenue stream to an agency, with no extra resources required. Most agents misunderstand what modern buyer representation can mean - it’s easier, cheaper and quicker to generate buyer instructions than regular instructions and the fees are about the same. A real no-brainier frankly that will no doubt attract naysayers to this thread who don’t get it!

From: Richard Rawlings 11 September 2020 08:58 AM

Having spent the past 20 years researching fee techniques and specialising in helping British estate agents increase their otherwise pathetic commission percentage, I do have some observations here! Firstly, I’m not sure that the percentages quoted for some of these countries is anywhere near correct. Having trained agents in both Australia and France, I can tell you that you’d struggle to find an agent charging as much as 5.7% in Australia – the average is usually 2%-3% (as professor Google will confirm). Likewise, you’d be very lucky to find an agent charging as little as 3.9% in France – where up to 10% is the norm (possibly the poorest value in the world – they are always at lunch!) However, that aside, the issue is not how much relative fees are in monetary terms, but the value an estate agents brings to the sale. In South Africa, where I consistently charged 7% for several years, once the sale is agreed, the agents’ fees are due, as they are in the USA (6%). No linked transactions, no liaising with solicitors or surveyors, not gazumping/gazundering, etc. Arguably poor value compared with the hassles we have to deal with in the UK to hold a sale together. We do an incredible amount here, but most importantly, it’s our ability to negotiate a better deal than the seller could have done themselves, as well as all the onward sales progression that easily justifies a higher fee. If we can’t secure 5%-10% more than the seller then we are not worth our fee, which frankly should be at least 2% as it is for many of those agents who have attended my fee-raising seminars over the years. And by the way, now is the perfect time to increase yours too! Have a great day!

From: Richard Rawlings 26 August 2020 11:34 AM

And there is NEVER a conflict of interest!

From: Richard Rawlings 11 August 2020 08:39 AM

Buyer representation is the biggest untapped opportunity in British estate agency. There is a lot more to it than meets the eye and it is at its best when properly integrated within regular estate agency. Happy to have a chat about this if you need a hand. Have a great day.

From: Richard Rawlings 11 August 2020 08:38 AM

Charming and fabulous idea on so many levels. I bet they get masses of views because they have "gameified" it! Possibly unwitting, due to the considerate and fun approach by the photographer, but a brilliant PR stunt nevertheless.

From: Richard Rawlings 31 May 2019 11:14 AM

Excellent article Charlie. Agents have in the past shot themselves in the foot by not making the connection here. They understandably focus on generating new stock and have not always seen a tenant, or even a buyer for that matter, as contributing to this. (Sure, today's buyer is tomorrow's seller, but "I want business now!"). The issue, and opportunity today, is that even though these tenants may become future buyers and then sellers, it is the contribution they make TODAY, in terms of their online reviews reflecting the way they are treated and respected, that massively impacts the management of your immediate reputation. Ignore at your peril! Have a great day!

From: Richard Rawlings 02 May 2019 09:58 AM

Nice article Nat. As social media video replaces TV ads, it's cheaper than ever for creative agents to deliver stunning ad campaigns. Think big, have fun, become memorable and risk offending a few people along the way! have a great day.

From: Richard Rawlings 08 April 2019 11:38 AM

Spot on! Yet many agents still find it hard to accept that is is more important to promote your business than it is to promote any of the properties you are selling. Some still advertise properties to attract buyers and tenants in the belief that, by showcasing their stock, this in itself will attract other sellers and landlords. Despite the powerful effect of social proof here, the benefit of this is diminishing. Agents who are weak in crafting and communicating meaningful and engaging key messages stand to lose the most. Those combine these skills with systematic prospecting tend to gain market share. Have a great day!

From: Richard Rawlings 27 March 2019 08:51 AM

Sales that have exchanged don't fall through because exchange defines a day of commitment on both sides. The main reason why sales fall through is because there is a wide window of opportunity for people to change their mind. We are the only country in the world as far as I know that does not require commitment on offer, although many of the sales I have agreed in the past 30 years have involved some form of binding offer/acceptance, so my fall-through rate was negligible. It's also worth getting your sellers to sort their legals out at time of instruction. My understanding is that Gazeal covers all these bases - pretty slick.

From: Richard Rawlings 21 March 2019 09:21 AM

Hmm - not sure if the headline precisely fits the issue Graham. Agents are more interested in turnover than house prices. In fact, falling house prices can be a sign that things are actually selling rather than stagnating - as they clearly are in some pockets of the UK. Government figures are notoriously out of date, and it might be more insightful to ask agents about activity right now. The feeling I'm getting from agents is mixed, but one branch I spoke to sold ten properties in a week and that is by no means an isolated example of surprising activity. Brexit is being used to justify poor performance in some instances, whilst other agents are milking a market that is bored by the subject and is getting on with their lives. Have a great day!

From: Richard Rawlings 21 March 2019 09:10 AM

About time - I was using these 20 years ago! One of the best instruction tools I know. Truly staggering that it has taken this long to be considered seriously. HIPS was on the right track, but agents have been slow to respond. Once you realise that our role as agents it to help people move, it all makes sense. Have a great day.

From: Richard Rawlings 04 March 2019 07:41 AM

Quite right Richard! I have negotiated dozens of deals using binding contracts and the work a treat. It's not complicated and if buyer and seller are prepared to commit on exchange, why should they not want to be bound on offer acceptance, subject to the usual caveats being satisfactory by exchange. This is commonplace in many other countries as you say. Have a great day.

From: Richard Rawlings 24 January 2019 10:44 AM

Last week I presented a Rightmove webinar about the Psychology of Persuasion in the context of Raising Fees. During the seminar we polled 1000 agents on their fee level 6% of agents polled charge between 2% and 3% 18% charge between 1.5% and 1.9% 61% charge between 1% and 1.4% 15% charge less than 1% Conclusion: About a quarter of all agents charge more than 1.5%. That’s 60% more than those who charge LESS than 1% In my view, for those who charge less than 1.5%, this has nothing to do with location or competition. It’s about skills, attitude, confidence and the deliberate commitment to charge a decent amount of commission in order to secure their future. This survey confirms what I have always said - people are prepared to pay for the product or service they prefer. Message to agents - be preferable and learn the skills to persuade. Have a great day.

From: Richard Rawlings 17 January 2019 12:04 PM

Good points Michael and I agree that contraction of supply and cheap money has upheld prices. I wonder if the BTL sector might actually divest itself of stock in view of a more challenging taxation regime as well as worries that their equity could also be eroded by potentially falling prices?

From: Richard Rawlings 27 November 2018 10:19 AM

Don't let this derail you! Wealthy Prime Central London buyers have a greater stake in the Brexit outcome/uncertainty, but most people are not in that league. During the last recession transaction volumes in most markets fell until it was only those genuine serious buyers and sellers who remained. It was a shock at the time but that situation has not changed much; there is not much further to fall in terms of volumes and most agents have adapted to this. Indeed, the Brexit issue has created an environment where sellers are likely to be more flexible on price, and the need for a good estate agent is becoming increasingly evident, and I see fees already beginning to rise. Brexit? What Brexit? - You've got a business to run! Have a great day.

From: Richard Rawlings 27 November 2018 09:34 AM

From: Richard Rawlings 08 October 2018 13:12 PM

FOXTONS SHOULD - BUT NOT YOU! The rent must be eye-wateringly expensive and during the good times, this was a stake in the ground for their London-wide audience. But now is not the time for such vanity. However, this does not apply to the vast majority of regular estate agents who I passionately believe should RETAIN their high street presence for six important reasons as explained in my article in EAT over the weekend. SEE WHY AT https://www.estateagenttoday.co.uk/features/2018/10/dont-be-hasty-in-ditching-your-high-street-office

From: Richard Rawlings 08 October 2018 12:51 PM

The best - the most sociable, knowledgeable and gregarious bloke you could meet. Good luck Whaley! You won't be missed because you won't be out of the game!

From: Richard Rawlings 06 July 2018 15:06 PM

Legal pack up front (helps you get the instruction), all required verifications and contract signatures on day one, title/search insurance, binding offer, and a lawyer who will pick up the phone should be able to knock weeks if not months off the process.

From: Richard Rawlings 14 May 2018 09:21 AM

Guys - don't let this scare you, unless of course you are an average agent who refuses to accept that this is a brilliant opportunity to pull away from the crowd. People WILL ALWAYS pay for a service they prefer. So be PREFERABLE! These are exciting times - you just have to look at your business through different glasses, understand the modern consumer, and give them something they will absolutely LOVE! Have a great day.

From: Richard Rawlings 14 May 2018 08:06 AM

Sales fall through because of the ridiculous delays specifically caused by old fashioned solicitors, and agents who don't have the guts to refuse to work with them. Also, if a buyer is prepared to commit on exchange, then why not on offer acceptance, like virtually everywhere else in the world? I have been using binding contracts for many years and they work a treat. Or take if further and use the Gazeal service - where deposits are held in Escrow. PS I won't be replying to the people I predict on this blog will have all sorts of reasons why you can't do binding contracts. You absolutely can. Good agents have a can-do attitude, they employ creative solutions, and their fall-through rate is usually less than 10% . Have a great day!

From: Richard Rawlings 14 May 2018 07:59 AM

Nice balanced piece James and I look forward to reading updates! R

From: Richard Rawlings 25 April 2018 09:40 AM

Once again Lloyds have got it humungously wrong. And as this is a site for Estate Agents Mr Tarry's suggestion that rising fees is "an issue" is totally misplaced. The issue is they are falling - just ask anyone in the business, apart from those who have the skill and good sense to defend their position on fees, which I would hope would be at least 2% . Without question we have the cheapest agency fees in the world (and I know, Mr Tarry - I train agents worldwide). I could go on for hours .....

From: Richard Rawlings 07 November 2016 16:30 PM

Outrageous that a bank (of all people) should make an issue out of agency fees without recognizing how well sellers are served by agents taking the stress off the move, facilitating the sale, sourcing and qualifying the right buyer and in most instances probably securing a much higher price for the seller, than had the seller sold without the agent’s involvement. In the US, where 5.3 million transactions happen annually, at an average of over 5%, the NAR reports that sellers are 16% better off using an agent than without. Why is there such a fixation over what is by far the lowest fee regime in the world, which delivers excellent value for money? The only reason fees have spiraled down over the years is weak agents unable to defend their position against undercutting competitors. The public has remained silent on the issue because agency fees in the UK are really not an issue. But here’s one way to help get your fees up – show a prospective seller the Lloyds article and offer to do it for 1.7% - just under the “official national average”! (Assuming you’re not already charging a healthy 2% of course). Have a great day!

From: Richard Rawlings 20 September 2016 06:54 AM

NONSENSE NONSENSE NONSENSE! Another sign of weak, poorly trained, agents who simply don't have the skills, professionalism or confidence to defend their position on fees and view fee cutting as the easiest line of defence - even though it seldom works as a market share generator. It's simply cowardice in the face of an (wrongly-)assumed enemy. The public does not have a problem with fees in the UK (which are by far the cheapest in the world) - it's all in the mind of the weak agent who wrongly believes that people prefer cheap! They don't - they pay for the product or service they prefer. All the agent has to do is be preferable - and persuasive. And that's a training issue.

From: Richard Rawlings 27 April 2016 07:09 AM

I work with thousands of estate agents, especially helping them to protect/raise their fees (in fact Mr Quirk attended one of my sessions and promptly raised his before going down the online model). The one thing they have in common is a passion for securing a figure at or even over the asking price - their reputation hangs on it! Yes of course the sale itself comes first but real people on the ground understanding their buyer and seller and helping both to discover their areas of compromise is massively beneficial. In fact a report by the National Association of Realtors in the USA states that sellers using an estate agent to sell their home typically secures 16% more money for it than if they sell it privately, which is effectively what online agency facilitates. Have a great day!

From: Richard Rawlings 21 March 2016 10:52 AM

Finally - an excellent initiative from an online agency! It's a classic example of a customer focused opportunity to excel that something only a handful of traditional agents have been doing offline -binding offer documents. It really isn't rocket science!

From: Richard Rawlings 26 November 2015 06:34 AM

Absolutely David- there are many factors very few of which we as agents can actually influence. But removing the one portal rule IS one of them. If anyone knows any others then it would be great if they could share it.

From: Richard Rawlings 02 November 2015 11:39 AM

Thanks Ken. I appreciate your words. The research suggests that 80% of buyers only use one portal! This will be especially true for those important speculative buyers who will only put their house on the market if they are satisfied they will be able to find something to move to. If they are mostly only looking on their favourite portal, whichever that might be, but listings are less frequently duplicated than before, then by default they will not have been exposed to as much stock as pre-OTM. Of course, serious buyers (the remaining 20% of the market??) will leave no stone unturned. You have however raised an important point that a good agent will actually help buyers discover areas of compromise by offering them properties that they might never have discovered if left to their own devices. And that's the real value of a good agent!

From: Richard Rawlings 02 November 2015 10:03 AM

Actually, Smile Please, I am passionately in favour of agents gaining local instructions - I agree that's what the business is all about and that's what I've spent the past 20 years helping agents do. Of course people are panic buying because of the flawed view that there is not much available. And if they can't find anywhere to buy, they won't list their own property, hence falling instruction rates and a vicious cycle kicks in. And by the way, if you think that online agents are the disruptors, they really aren't - they are just cheap agents helping people sell privately. Not a threat. Get over it! Haven't you spotted the real opportunity yet?!

From: Richard Rawlings 31 October 2015 15:18 PM

Smile Please - I thought it sounded odd to partly "blame" a portal as well, until I saw the research conducted by a highly qualified statistician. However, transaction volumes have "only " fallen by 8%. Is it inconceivable that the one other portal rule could not have caused an 8% wobble? Please don't get me wrong - I am not suggesting that people not using OTM is the issue - it's not. In fact OTM visitor numbers reported at between 2% and 5% of the market are negligible. Listing migration is not! The point is that buyers (especially those important speculative ones) who used to assume that they could access most properties using EITHER Rightmove OR Zoopla, now have to use BOTH - even without visiting OTM. But they don't! They still think one major portal is enough and that's why they believe there is nothing on the market as fewer properties are duplicated over both major portals. As an industry we have collectively failed the consumer by diluting their easy access to property for sale.

From: Richard Rawlings 31 October 2015 11:02 AM

Great idea guys; innovative, transparent and customer focused. Not sure if 1.5% is perhaps a bit on the low side - if you really are delivering exceptional service then the top end fee, say 2%, should match this. But that's just me - well done anyway! Richard

From: Richard Rawlings 18 August 2015 11:05 AM

Ridiculous. If British estate agents have a poor reputation AND they're the cheapest in the world (by a long way), then surely regulation makes obvious sense, even if this simply meant that agents had to pass a basic competency test as a minimum.

From: Richard Rawlings 26 May 2015 10:36 AM

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