BREAKING NEWS – top 5 stories 14/04/2021
WE ARE DOWN TO OUR LAST FOUR SALEABLE PROPERTIES
A Bedfordshire based Independent agent has stated yesterday that they only have four properties on their books that are saleable, as they have agreed sales on the others, or the other housing stock is ‘mot realistically priced’.
The veteran agent said that the present hot market had all the hallmarks of the even hotter 1988 market, but he felt the market would continue to run as low interest rates, and people looking to move due to WFH, or living shut up for a year and wanting gardens etc, would keep the market going.
APPARENTLY RIGHTMOVE HAS SOUGHT TO WOO LOST CLIENTS
It has been reported that some errant ‘leavers’ of mighty Rightmove have been secretly wooed by the forces of Rightmove, being offered selective discounting in return for their jumping back into the Rightmove meadow.
Given that many Rightmove client agents have also been singled out – to have the reverse treatment, a hike in their baseline fees of over 10% a month, one must feel that someone here is subsidising the other.
BOOMIN TAKES ON EXTRA INVESTMENT
The Mortgage Advice Bureau and estate agents Foxtons are believed to be putting cash behind the newly launched Boomin venture. Since the start of April some pretty strong activity has been seen from this new enterprise. The recent market capitalisation of this as yet untested phenomena seems to bode well for the c-suite.
PROPERTY PORTAL ASKS THE AGENTS ON THEIR VIEWS OF RESIDENTIAL MARKET
OneDome a property portal has stated that according to an analysis of nearly 25% of UK agents, there are a number of key areas of concern when it comes to the selling process. They list that agents feel there is; – Lack of speed of the transaction, poor client UX, Lack of control of the transaction, Lack of visibility of transaction progress and fee levels were not reflective of effort.
SRA BLOCKED IN ITS MOVE TO LOWER THE COMPENSATION CAP TO £500,000
At present the maximum compensation that a wronged party could be paid out is £2M from the Solicitor’s Regulation Authority, but it has been pushing to reduce this limit to £500M. In a recent development this position has been blocked. Good news for those looking to recoup losses caused by malpractice in the legal sector.
If you have a view – please let us all know by emailing me at [email protected] – Andrew Stanton Executive Editor – moving property and proptech forward.