Cedar House, Caen St, Braunton EX33 1AH

February 2020

Rightmove loses agents as latest figures show huge rise in fees and profits

Rightmove has released another stonking set of results - but there are signs that some agents are defecting from the ever-more-expensive portal. Figures released to shareholders this morning relating to the full year of 2019 show revenue, underlying profit and operating profit all up eight per cent - and earnings per... Source: Estate Agent...

Transaction times slashed and fall-throughs cut by new agents toolkit

The National Association of Estate Agents has launched its Sales Protocol Toolkit, in a bid to reduce fall-throughs and dramatically improve transaction times. The kit, introduced at the NAEA conference yesterday, has been road tested with 200 completed transactions in the Buckinghamshire, Bedfordshire and Northamptonshire areas with startling results. The average transaction... Source: Estate Agent...

Referral Fees: No change “for a while” but reform coming

The Trading Standards report on the future of referral fees is almost completed and will be sent to government next week. However, James Munro - head of the National Trading Standards Estate and Letting Agent Team and author of the report - has told EAT that it will “take a while” for... Source: Estate Agent...

Foxtons warns of sales slump going on through 2020 despite Boris Bounce

Foxtons is warning that 2020 will be yet another difficult year for the agency despite the so-called Boris Bounce helping the sales market in its core area of London. In a statement to shareholders this morning, chief executive Nic Budden says: “We expect structural issues such as affordability and stamp duty... Source: Estate Agent...

Reservation Agreement trials delayed until late spring

Trials of reservation agreements for buyers and sellers have been delayed until the late spring. Statements last year from the Ministry of Housing, Communities and Local Government suggested trials would begin in the first quarter of this year, but this has now been delayed.  Matt Prior, lead officer on buying reforms at the MHCLG, updated... Source: Estate Agent...

Trading Standards to probe house raffle problems

Future complaints about property raffles by individual home owners seeking to avoid estate agency fees will in future be handled by Trading Standards. Until now many complaints about these raffles have been submitted to the Advertising Standards Authority but these are now to go to the National Trading Standards Estate and... Source: Estate Agent...

Agents Do Charity – running hard to fund-raise more…

Hello and welcome to this week’s ADC - a sure sign that it’s the end of the week and time to celebrate our colleagues working hard for good causes. You know the score by now: if you’re doing a charity event, please let us know on press@estateagenttoday.co.uk and we will help... Source: Estate Agent...

Coronavirus prompts agency to quit property conference

The threat of Coronavirus is beginning to make an impact in the world of property. The Cushman & Wakefield agency announced overnight that it was no longer sending a delegation to the annual MIPIM conference, due to be held as usual in Cannes from March 10 to 13. "With the rapidly increasing number... Source: Estate Agent...

Challenge to Purplebricks and Countrywide ‘top agency’ claims

Purplebricks and Countrywide have each recently claimed to be the biggest agency group in the UK but now Connells says that its 2019 successes show it to be the largest - at least by share. The firm says it maintained a 5.5 per cent market share in 2019, calling it “the... Source: Estate Agent...

High profile Savills veteran joins OnTheMarket board

Rupert Sebag-Montefiore has this morning been named as a non-executive director of OnTheMarket. He will also serve as chairman of the portal’s remuneration committee. Sebag-Montefiore was chief executive of Savills UK for 12 years and had the title ‘Head of Global Residential.’ He also previously served as non-executive chairman of Fastcrop plc, which...

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