BREAKING NEWS – top 5 stories 23/02/2021

Estate Agent Networking Breaking News

CONVEYANCING TASK FORCE COMES INTO BEING

Two years in the making the ‘Conveyancing Task Force’ a collaboration of; The Bold Legal Group – Rob Hailstone, The Law Society – David Greene, The Society of Licensed Conveyancers, The Conveyancing Association, CILEx, sees the light of day. Chaired by Simon Law, The driver behind the inniative, chaired by Simon Law is to, ‘help the profession manage the transition into the digital future and identify opportunities for improving the process’.

The specific areas they will focus on are codes of practice, electronic signatures, property logbooks, universal protocols, codes of practice, fraud prevention, vendor disclosure and a number of other areas where a unified approach will speed the archaic and scattergun approach, with different stakeholders working in disparate manners.

Given the recent debacle over WFH, and the conveyancing bottleneck, the utilisation of modern technology within the conveyancing process cannot come soon enough.

FOXTONS FOR SALE OR BUYING UP THE COMPETITION?

Something is going on, but it is not clear what, that is the situation with Foxtons at present. Their share price had recently rallied with whispers they might be for sale, now there are counter noises that they are looking to buy up a complimenting smaller agency Douglas & Gordon, especially for its lettings profile.

Last year it raised 20M as a buffer, so in theory could use cash in any strategic deal it moves on, but its recent trading position, though staunching some the losses of the previous trading year do not exactly put it in pole position. Time will tell.

HOUSING MARKET UPDATE

Unemployment is presently set at 5.1% with Furlough looking to end soon, though in the budget less than two weeks away the Chancellor may extend its terms. Many agents are saying that buyers want to buy, but given it is now ticking into the traditional pre-Easter period where most sales occur, and most FRB’s are active this is really not news at all.

The bae rate will remain low, could even go negative, but the biggest factor will be market sentiment, which give there is a route map to the end of lockdown might see an uptick, or if unemployment hits 7%, might suffer a reverse, once again the housing market is not an easy one to gauge.

THE RACE IS ON FOR OPENWORK

Known to many in the UK real estate sector Openwork – has renamed itself ‘The Openwork Partnership’ with the eschewed intention of becoming, the county’s number one leading point of advice. With over 4,000 advisers and nearly 700 firms within it, seems that many are now clambering to be seen by agents and the public as the authority in the lending sector.

THE RACE IS ON FOR OPENWORK

Known to many in the UK real estate sector Openwork – has renamed itself ‘The Openwork Partnership’ with the eschewed intention of becoming, the county’s number one leading point of advice. With over 4,000 advisers and nearly 700 firms within it, seems that many are now clambering to be seen by agents and the public as the authority in the lending sector.

THE ENFANT TERRIBLE NEIL WOODFORD WILL HE RISE AGAIN? ZARA IS NOT SO SURE

Neil Woodford’s much heralded return to the financial services sector with an enterprise that will span Jersey and my home county of Buckinghamshire, has been met with a barrage of obstacles not least the FCA, the Financial Conduct Authority here and its twin regulatory entity the JFC, the Jersey Financial service commission. He needs to have their blessing before moving forward.

Mr Woodford was a key backer of Purplebricks and for a time that was a shrewd investment for all seeing values on the AIM rise significantly from a 93p start position, his fund then hit stormy waters due to an over reliance on as yet un-proven portfolio of other tech offerings. Zara says she definitely will not look to invest if young Neil does get to go again.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate. Want to contact me directly regarding one of my articles or maybe you'd like a chat about future articles? Email me via editor@stagingsite.estateagentnetworking.co.uk

You May Also Enjoy

Breaking News

A third of UK homes for sale are ‘chain-free’ reports Zoopla

Recent tax changes and incoming council tax premiums for second homes have unsettled property investors and second homeowners with some now looking to sell One week on from the Autumn budget, buyer enquiries for homes that are chain-free are 33 per cent higher compared to those not advertised as chain-free 41 per cent of two…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker 06/11/24

The average 5-year fixed mortgage rate is now 4.66%, down from 5.33% a year ago The average 2-year fixed mortgage rate is now 4.92%, down from 5.76% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.40% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.91% a year ago The average monthly mortgage payment on a…
Read More
Overseas Property

Top reasons to consider buying a luxury villa in Phuket Thailand

Those who have worked hard for many years are often looking for ways to invest their cash so that they can enjoy life to the max in their advancing years. Some might decide to dabble in the stock market or insurance policies to enhance their savings, while others might look to purchase something more physical…
Read More
How to add value to your home
Estate Agent Talk

5 Top Tips for Running a Business From Home

Have you ever wanted to start and run your own business from home? Although it’s an incredibly rewarding experience, it can be tough to set up and know where to start, especially if you have no business experience or background! Whether you want to run a small business, or have grand ambitions for eventual expansion,…
Read More
Estate Agent Talk

The Importance of Time Management for Real Estate Investors

Time is one of the most valuable assets for real estate investors, especially when juggling multiple projects, clients, and market trends. Without a strong grip on time management, getting bogged down in tasks that don’t drive growth is easy. You see, every minute spent on admin tasks or low-value activities is a minute that could…
Read More
Estate Agent Talk

Transforming Your Condo into a Next-Gen Smart Home Experience

Gone are the days when we must get up to press a button on the TV to adjust the volume, use actual keys to unlock doorknobs, or turn a knob to control the air conditioning unit's thermostat. These days, all we have to do is sit pretty on our couches, let technology do its work,…
Read More