The World’s Largest Off High Street Estate Agents Steps Up UK Market Challenge

People start their searches online so why aren’t estate agents online? Says Sarah Beeny— I say the agents are all online as they all have a website and simply back this up with an office.

The issue is the cost versus the service and what the agent does or does not do for their money

UK High Street Estate Agency is in turmoil, I came into the Dragons’ Den yet no Dragon agreed and several years later the writing is on the wall

BBC Dragons' Den The UK’s largest high street agent, Countrywide, is drawing up plans for an online agency model and the largest off high street estate agent in the World has also set up in the UK.

This behemoth is Keller Williams a company with a very clever business model, it is not on the high street, it is online and even better the company is not just online have local property guides to conduct face to face meetings. I don’t need a Dragon as KW do all the investment in business tools for me.

To be competitive each person who meets a client is an agent who can tailor the price to be as low or high as the service the seller requires.

Sometimes a Keller Williams agent will charge ZERO, those online guys just cannot compete, how does it end up being ZERO charge to a seller you might ask and the answer comes from the growth in buyers taking on an agent to procure properties for a fee.

A buyers agent might be working for an investor or a corporate employee buyer relocating to a new area as part of a career mover.

Alternatively the seller might be property savvy, seeking just the bare minimum of help and then a KW agent can be of service with best price policies.

What we do know is the high street agent is worrying.

TV presenter and founder of online estate agent Tepilo Sarah Beeny says that high street estate agents’ offices are empty and “totally redundant” in the Daily Telegraph recently

 Have a FREE chat about how to get the bes deal on your property email richard.williams@kwuk.com or call 0845 055 8203

Have a FREE chat about how to get the best deal on your property email richard.williams@kwuk.com or call 0845 055 8203

Online estate agents are not new, what is new is an online estate agent offering a face to face visit and with flexi pricing from Keller Williams it is not surprising they are the largest property sales company on the planet

http://kwuk.com/agent1124-airstream-consultants–uk–limited.html

http://propertyindustryeye.us3.list-manage1.com/track/click?u=540617afd23211feb674c7378&id=6be869cd26&e=e565f28307

.http://www.telegraph.co.uk/sponsored/business/sme-home/11676557/sarah-beeny-estate-agency-tepilo.html

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The Great British Sell Off- Should You Hold Or Sell

Whilst the doom & gloom merchants at MoneyWeek say SELL SELL SELL, whilst the Chief Economist of Nationwide Robert Gardner sees a brighter picture.

“Over the longer term we would expect house-price growth to converge with earnings growth, which has typically been around 4 percent per annum,” Robert Gardner, Nationwide’s Chief Economist

Whilst the market did drop like a stone in the BIG crash property prices did need to climb and correct themselves back from the crash. Frankly the market needs to work in a similar pattern to our wage increase across the country.

“Amongst the other English regions, the Outer Metropolitan area continued to outperform, with annual price growth not far behind London at 12.0%. Yorkshire and Humberside was the weakest performing English region, with prices up 1.3% over the last 12 months. “Northern Ireland saw a slowing in annual price growth to 5.7%, while annual price growth in Scotland moderated to 1.3%. Wales remained the weakest performing region and was also the only region to see a fall in average prices, which were down 0.5% compared with Q1 2014.” Source: Nationwide

Supply and demand will keep prices up RICS (The Royal Institution of Chartered Surveyors) suggest that instructions listed by its members have dropped to around 50 on average per office.

The amount of homes for sale right now has fallen to its lowest level since records began in January 1978.

Let’s get Britain building and get the market sustainably moving

I say BUY BUY BUY and RENT RENT RENT

It will be a long time off before everybody will swap out of renting and find homes easily affordable

Spanish House Price Crash Drops Over 40% (And Even If You Want To Do Not Buy Now)

In last week’s Spanish property news, house prices on the Mediterranean coast are up but the number of sales are around 50% less units than 2007.

Image courtesy of artur84 at FreeDigitalPhotos.net

Image courtesy of artur84 at FreeDigitalPhotos.net

The hoards of foreign buyers purchased a property along Spain’s Costa areas and over the last 8 years prices in these areas saw a drop of just under 49 percent.

Prices in most areas of Spain still drop and these decreases are at their lowest levels since 2007.

What Will Happen Over The Next 12 Months?

Today one or two  hundred of Spanish families will have been evicted  for defaulting on their mortgages. For this reason foreign buyers must seek advice before returning to the favoured coastal resorts

Today one or two hundred Spanish families will have been evicted for defaulting on their mortgages. For this reason foreign buyers must seek advice before returning to the favoured coastal resorts

Due to just a slow domestic market, Spain will see low growth in costal regions regions and on the outskirts of big cities.

Due to a stockpile of properties I expect we will see the market continue to climb from sharp drop to simple stagnation.

In 00’s we all charged down to the Costa del Sol and thought this is the begining of the next California.

Frankly as an investor today I would stay out of the coastal foreigner hotspots  for the rest of 2015 unless you see the £ GBP buying 2 EUROS or some other huge incentive to jump up and change the market.

In contrast, prime areas in the largest cities, such as Madrid and Barcelona, are the places I would be putting my cash

Our most recent Spanish repossession analysis also highlights this regional variation, with forced-sale discounts higher on the seaside.

I ask that if you do buy that you won’t fall for slick sales people propping up their income with you going home expecting a rapid rebound in prices.

Frankly if you buy expect a small drop in 2015, a flat 2016 and then a a slow recovery,with home prices slowly increasing.

The big news in Marbella, however, is that sales volume surged in 2014 to double the sales of 2008.

From 2000 sales to 4000 sales is great, compared to the previous years, it could be the first area out of the pre-crisis sales market and beating earlier unit sales figures

I say look at other areas but do your homework and email Richard.Williams@KWUK.com if you want to get any information and seek help