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James Long
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Maybe there it is an adjustment of the perception of Estate Agency that is required. When I first came out of uni some 17 years ago and in to Agency I couldn't understand the concept of a business that does a lot of work providing not just a service but also tangible assets such as brochures, photo's, marketing material etc upfront and for no initial payment. May be there is a place to split a marketing agent from a managing agent. I.e client employs the services of a marketing agent to produce the marketing materials for the property for a cost and then chooses to employ the services of a managing agent to deal with the sale of the property. I don't know of any advertising agencies or marketing companies outside of Agency that would create an advertising or marketing campaign and only receive payment if more products were sold. Just a thought.
From:
James Long
08 May 2019 14:37 PM
I'm mostly surprised by the....well surprise. This was clearly the Bruce brothers gambit all along, make a few million, line their pockets, stand well back and watch it burn. Pretty much the MO of the pair of them.
From:
James Long
08 May 2019 11:48 AM
Will they be expected to do all of their own compliance and due diligence as well?
From:
James Long
26 February 2019 17:07 PM
Only 16 years.....I'm a spring Chicken to most on here!
From:
James Long
26 January 2019 13:38 PM
Neither online agents or high street agents are the future of buying and selling property. Social media will be. Mark my words. As for 'online agents' charging too little to be credible, I think the problem (in some cases) is doing to little to be credible.
From:
James Long
23 January 2019 15:23 PM
Block chain is the key to increasing sped of transactions and reducing fall through. Now if only conveyancers and the council would get on board, all searches and property information could and should be stored online to be accessed quickly by conveyancers and solicitors directly.
From:
James Long
03 January 2019 13:31 PM
What's the small print attached to this 'for free'? I suggest reading it carefully or else you may find you are tied in to using PB conveyancing, or will be charged an additional admin fee, or charged for viewings or in 10 months time will have to pay an um.....post rental fee for the for sale board? yeah that sounds good, stick that in the small print......
From:
James Long
12 December 2018 13:32 PM
Still the biggest cost in the business is staff, high street costs aren't that high and as more and more retailers disappear they might become significantly cheaper. The appeal of the shop window in the UK is still great and using it creatively can provide great marketing making the cost offset even more.
From:
James Long
06 October 2018 13:03 PM
Good on them for making a go of it, great agents with knowledge, experience and backing. Good listing figures at 24 a month
From:
James Long
02 October 2018 12:19 PM
'all of this agent infighting is unreal' followed up by a diatribe about 'stuck-in-the-mud brick and mortar agents' thanks for your input Andrew, hypocrisy at its finest.
From:
James Long
02 October 2018 11:27 AM
Almost 20 years ago now I worked for my fathers agency in Derby, Long and Partners. Back then the trend was for town/city centre agents to have prestige offices in the city, we opened satellite branches in suburbs ringing Derby and took advantage of cheaper rents and maximum coverage, we were Derby's no 1 agent in a little over 2 years. People didn't want to travel to the city to see there agent and loved a suburb branch and they still do. Look at banks, the local branches have gone and now the likes of natwest are having to drive a mobile banking van back to those areas because despite online banking being pushed, the customers still want their local, face to face branch.
From:
James Long
28 September 2018 12:36 PM
Or from the other perspective, has a lack of investment in the property sector led to an increase in equity release? The scarcity value of 'retirement' properties available in areas where downsizes want to live (normally the area in which they already live) is causing a blockage in the natural supply of properties coming to the market. This combined with the increased average cost of a suitable bungalow in these usually affluent areas is increasing the prices of the properties at the top end, meaning that in many areas the financial gap for families wanting/needing to make the next step up the ladder is insurmountable, couple this with no real term wage growth for most middle income families and you have a real problem.
From:
James Long
25 September 2018 11:07 AM
Eventually high street agents will pick apart the online offering (god i hate both those terms) and take the best bits of tech that are offered, a new strain of agent will enter that doesn't think in terms of online or traditional, just in terms of whats the best offering for my clients and does it help me make a living. These will thrive. Simple really.
From:
James Long
24 September 2018 12:46 PM
'but Purplebricks is quoted in the piece as saying that comparison is unfair as traditional agents charge further marketing fees whereas the hybrid’s charge includes marketing.' really? because here in the UK Purple Bricks charge plenty of 'further marketing fees' unless accompanied viewings doesn't count?
From:
James Long
19 September 2018 12:43 PM
Not a pop star but embracing social media to get the company name out there.
From:
James Long
10 September 2018 14:37 PM
I've said it before and i'll say it again 'we've reduced our overheads and increased our service levels' is a contradiction in terms. You pay less, you get less, its the way it is. And as for an an average £4000 fee, well I guess we are under-valuing our service!
From:
James Long
08 September 2018 13:09 PM
Great, more investment for the 'disruptors' disrupting what? and how? What has any of these companies done to actually fundamentally change the process of buying and selling property? Nothing. All they do is charge less and give less. It is not a game changing situation and the sooner the smoke and mirror advertising clears and the general population cotton on to this the better. There is room for a truly game changing agency to emerge, but they would need to completely re write the entire process from the ground up including conveyancing. The current crop of so called disruptors are not it.
From:
James Long
28 August 2018 12:22 PM
This seems to sound familiar. 'New' company claims to have re invented the wheel whilst actually doing nothing new except charging less and pretending the quality of the offering hasn't dropped accordingly, then another one comes along offering the same thing at a lower price etc etc etc all the while investors are rinsed and the companies achieve wild valuations.....
From:
James Long
22 August 2018 16:43 PM
Accompanied viewings? When the nice old couple who have no experience of property transactions since they bought their first home back in 1950 need advice? Someone to call all parties in a chain and gently explain what the issues/delays are all about? someone to guide a buyer with no experience through an adverse survey? The list is literally endless.
From:
James Long
21 August 2018 16:13 PM
James Walsh do you work in agency? or are you just a disgruntled home owner? Every comment from you on every subject on this forum seems to be to slag off estate agents, whether it be 'the dinosaur High Street' or not. If you think agents truly set prices and have the ability to keep them high then you are deluded.
From:
James Long
21 August 2018 14:26 PM
Another non industry commentator lumping agency in with retail again, countrywide proved that theory wrong.
From:
James Long
20 August 2018 09:35 AM
The value of a property is surely what someone is prepared to pay for it? therefore these automated valuations can never be accurate. over the years I have had many properties that have sold at above what would be considered 'market level' because a buyer has been found who really wants that property for whatever reason and is willing and able to pay the price to secure it. we have seen a see saw on mortgage valuations between surveyors valuing up and the max price for a given street/house increasing, then a few years later down valuing. The agent gives a market appraisal based (hopefully) on size, location, condition and comparable evidence along with the key factor, demand, the property is marketed and if a proceed able offer is achieved at the asking price (or near enough) then surely the property is 'worth' that asking price? Also, although some over valuing to secure listings does take, the vendor has to shoulder some of the responsibility, in the majority of cases and especially with the information on sold prices and asking prices in the area that is available to home owners, those home owners know full well what the rough price of their property is likely to be. This coupled with three or more valuations from agents should give them enough information to make an informed decision about their asking price, if they wish to instruct and agent who will market for far above the average then so be it.
From:
James Long
15 August 2018 12:14 PM
Its all over the banners on Rightmove as well
From:
James Long
07 August 2018 17:16 PM
I'll let this thread go soon but it makes my blood boil. Take this statement for example "So, what we said is we want to offer something that's much more competitive, that's fair, that everybody contributes towards, that means that we can offer a much cheaper price.” The whole sentiment of Mr Bruce' claim is contradicted by that one statement. How is everybody contributing regardless of whether they sell or not fair? it only works for those that sell, those that don't sell have paid upfront to keep the costs down for everyone else.
From:
James Long
07 August 2018 09:26 AM
Just digesting the rest of this rubbish and I assume Mr Bruce is saying that by paying his LPE's per listing, they would never be tempted to over value or be somewhat liberal with the detail in order to list a property to gain there £200 payment? which they need to produce regardless of sale just to feed their families. And without releasing PB'S completion figures this is all a load of tosh anyway. Even if PB were to complete on 60% of listings, thats 40% of people paying for absolutely nothing, hardly a fairer system if you happen to be on that side of the fence is it Mr Bruce.
From:
James Long
07 August 2018 08:58 AM
so Mr Bruce is basing this assumption on the grounds that the remaining unsold properties never go on to sell? whether with the current agent or another no sale no fee agent? Let alone the fact that the agent has a tangible financial investment in getting those under performing properties sold to continue to make a living, rather than just taking the cash and letting the difficult properties walk? Yet another attempt by these pair to justify a con by pulling the wool over peoples eyes.
From:
James Long
07 August 2018 08:44 AM
She already said 'in a market where limited supply can generate intense competition for good properties, “it’s easy to agree on an asking price that doesn’t stand up to professional scrutiny.” If there is a limited supply and a high demand then the prices will be rising. If this changes then tough, people need to accept that increase in house prices in the short term should not be and is not guaranteed. To many people seem to buy on the basis that the property price will increase in 3 to 5 years instead of looking at the property as a home.
From:
James Long
31 July 2018 12:07 PM
Purple bricks seeks a new way to remove money from clients pockets for not very much.
From:
James Long
23 July 2018 11:14 AM
I like how a 'We buy any house' advert appears in the sponsored content right next to the article....
From:
James Long
20 July 2018 11:59 AM
You're right Mark I was being flippant, however the interesting point is 'it makes money and 'at scale' is profitable. Expansion at the pace purple bricks is pushing cant be sustainable for long. How long before at least some of the seemingly bottomless pits of investors get a little nervous and start asking for a return? Without continued expansion of LPE'S to bring the money in the business doesn't work, however the more LPE's you add to an area the smaller and smaller the income for each LPE gets, making it very hard to continue to recruit in the numbers they need. In my area this already appears to be the case.
From:
James Long
18 July 2018 15:40 PM
Just wait for the government to create its own scheme, I'm surprised they haven't spotted this new source of robbing money from our pockets already.
From:
James Long
18 July 2018 15:33 PM
with 26m losses they will probably need more credit.
From:
James Long
18 July 2018 08:36 AM
https://www.allagents.co.uk/purplebricks/ ahem.......
From:
James Long
05 July 2018 10:54 AM
Helps if you proof read your landing page before going live.
From:
James Long
11 June 2018 12:22 PM
Study by bridging finance company finds that chains breaking causes fall throughs. If only there was somewhere you go to borrow some money to continue the purchase...... call me cynical but this isn't really news.....
From:
James Long
25 May 2018 11:15 AM
Interestingly having read through a number of purple bricks reviews over the months, its the human element of their offering that generates the most cause for complaint. Maybe something to latch on to there.....
From:
James Long
14 May 2018 12:45 PM
The drive from within the industry to hammer fees to the lowest common denominator can only increase the problem. I've been in the industry for some 15 years and wage growth is non existent, if anything many who are still here post 08 era are taking home less than when I started out.
From:
James Long
24 April 2018 11:02 AM
Save £1000 lose a £1000 - The homeowners can toss the coin. PB quids in either way....Welcome to the future of service and retail, never put the customer first.
From:
James Long
18 April 2018 14:36 PM
Maybe force purple bricks to publish additional costs, not hide them in the small print.....
From:
James Long
11 April 2018 08:44 AM
Everything that good agents should already be offering
From:
James Long
19 March 2018 10:10 AM
The use of data and so called 'prop tech' to allow clients to view and track information relating to the progress of their chain is all well and good, but it still doesn't remove the issue. Sales progression teams are worth their weight in gold as they communicate directly with the parties involved to break down and explain any issues and offer professional experienced advice on how to overcome them. Unless these prop tech solution include incredibly good AI, they are not going to add any value.
From:
James Long
01 March 2018 12:50 PM
'1, Fingers Crossed, Address Line 1A, Croyde, Devon, EX33 1LG, UK' One of the properties available......says it all really.....
From:
James Long
03 January 2018 14:35 PM
How is this the 'first ever example'? PX happens all the time?
From:
James Long
19 December 2017 13:52 PM
I've been saying for years that online registers of property information such as searches etc is the real key to reducing the time it takes to complete on a sale/purchase, but over the 15 years I've been involved in the property industry this has never been looked at. People selling or buying a property also need to be educated in how the process actually works in order to be able to fill out the correct paperwork and return it in as shorter timescale as possible. It seems this is one of those issues where neither the majority of estate agents or solicitors are prepared to take ownership.
From:
James Long
18 December 2017 13:58 PM
What a fantastic new innovation, maybe in the near future they will open some kind of building, maybe on high street of some kind, where the client can meet and deal a real person. It sounds a bit out there I know but maybe, just maybe......
From:
James Long
15 November 2017 13:00 PM
Hi Paul I hope you new venture goes well. If you click on the link of 'Millford at Hurst Lane' the description text is muddled: (6.04 x 4.74m (19?9?? x 15?6??))Lounge (5.77 x 3.24m (18?11?? x 10?7??))Utility (2.22 x 1.88m (7?3?? x 6?1??))Wc (1.79 x 0.9m (5?10?? x 2?11??))FirstBedroom 1 (Double) (5.2 x 3.82m (17?0?? x 12?6??))Ensuite 1 (2.24 x 1.92m (7?3?? x 6?3??))Bedroom 2 (Double) (4.16 x 2.71m (13?7?? x 8?10??))Bedroom 3 (Double) (4.06 x 3.36m (13?3?? x 11?0??))Bedroom 4 (Double) (3.53 x 3.12m (11?6?? x 10?2??))Bathroom (2.91 x 1.95m (9?6?? x 6?4??))About Pembridge Park Ph 2,AuckleyPhase 2 of Pembridge Park offers a selection of luxurious 2,3 and 4 bedroom homes in 10 stunning designs in Auckley, close to the prestigious Bawtry Road and near to vibrant Doncaster.Residents can enjoy the high quality build and finish of a David Wilson home in a fantastic village setting and with local amenities available there is... all the best
From:
James Long
10 November 2017 12:32 PM
It looks like they currently have 5 properties available and the text set up is wrong on the further information
From:
James Long
10 November 2017 11:06 AM
Where would stand if, after winning the home a survey identified problems? would you be tuck with a money pit? Are you able to carry out any form of inspection/survey on the property before entering the competition? Likewise with legal/conveyancing issues?
From:
James Long
08 November 2017 11:43 AM
Henry pryor?
From:
James Long
27 September 2017 12:04 PM
This has always been one of the things i noticed when looking into the model with PB, eventually the figures just wont add up. It is a pyramid scheme at its root.
From:
James Long
22 August 2017 12:10 PM
More nonsense stiffing the middle income earners. Those wealthy enough to own several homes will be able to accommodate any additional costs. those, like myself, who earn a lower than average wage, squeezed even more by austerity and zero wage growth, have a low pension and use a small single property investment as a way to boost pension and income will be hit the hardest. The cons making sure the super rich will be looked after but the those in the middle with any aspirations will be kept firmly in their place.
From:
James Long
21 August 2017 12:16 PM
So PB lists 9 new build apartments? Is it possible to exaggerate the grand scale of this 'deal' to a larger degree? I wonder, if mentioned above, if the fees were all paid upfront, whether PB will be doing the viewings or whether this will extra? But Just Village is right, I would assume PB would have the resources to pay special attention to this lucrative partnership, its just the poor old traditional home owner who gets ignored
From:
James Long
21 July 2017 11:40 AM
Perhaps anyone thinking of joining should check the most recent Allagents reviews.....
From:
James Long
11 July 2017 12:20 PM
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