Agencies & People
News covering the businesses, activities, people and personalities in estate agency and letting agency and wider residential property industry.
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‘We’re not struggling in Australia’, says Purplebricks
Purplebricks claims its business in Australia is doing better than traditional estate agents there despite a declining market.
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Can he turn it around in time? Countrywide profits to be down £20m during first half of this year
The latest trading update by Countrywide reveals sagging profits but signs of recovery programme working at last.
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Property Ombudsman expels record seven members in one month
The Property Ombudsman (TPO) has expelled seven member agents, which is believed to be the largest number kicked out of its scheme in a single month since the organisation was established in 1990. The agents are Exeter firm Bower & Bower, Secret Property in Halifax, Marilla Garland Property Management in Cambridge, Seekers Estate Agents in Birmingham, Alexander Reed in Middlesex, Abby Lettings and Sales in Sunderland and HAB and KAL Properties, also in Middlesex. As is always the case, the agents were taken to TPO by disgruntled customers for breaches of the TPO code of conduct and, after losing their cases, refused or were unable to pay the agreed award and therefore have been expelled. All the companies involved have been kicked out for between one and three years but, unless they pay the agreed awards, will be unable to join any other redress scheme and therefore cannot continue trading. This is an unprecedented number of agents to be kicked out of TPO’s scheme; usually only one or two face the ultimate sanction each month. TPO has highlighted one of the seven cases, which is a shocking tale of two complaints against 44-year-old company Bower & Bower. Shocking case Both…
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Purplebricks struggles in Oz as property market crashes after years of boom
Purplebricks has lost nearly 20% of its local property experts in Australia over the past three months as the Oz property market shows down after years of booming prices and demand. In its March annual results the company said it had 105 local property experts but now lists just 88 on its local website. Interviews with local LPEs by The Australian Financial Review revealed that some were “struggling” to make a living and that the large salaries they had been told were achievable have been failing to materialise. Purplebricks Australia CEO Ryan Dinsdale claimed that only 16 agents had quit since March, and said that 80% of agents were earning a good income. Documents revealed during the investigation have also revealed the fee Australian LPEs earn, which is AUS$1,000 of the AUS$5,000-6,000 upfront fee vendors pay in Oz. In New South Wales, which is the weakest property market in Australia at the moment, it was revealed that LPEs on average win 189 instructions for every 768 valuations, or just 24%. Purplebricks has chosen a bad time to launch its business in Australia. After many years, and decades, of boom the Oz property market is showing signs of a meltdown. Crashing…
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Welsh agency Darlows needs your help to raise £6,000 for children’s charity
Can you help? Welsh agency Darlows is organising a ball in Cardiff to help raise extra cash for children's charity Magic Moments.
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Online service launches ‘goodbye to letting agents’ poster campaign
An online service for landlords has launched a London Underground advertising campaign that urges landlords to say 'goodbye to lettings agents'.
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Auction success for Hunters
Hunters held a successful property auction at York Sport Club in April. The sale was well attended and seven of the nine lots were sold in the room...
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Former MD of troubled estate agency Humberts joins presidential team of NAEA
The NAEA and ARLA have both ushered in their new presidential teams following the Propertymark annual general meeting and dinner at London’s Savoy hotel on Friday, including the appointment of Ian Westerling (pictured, right) as Vice President of NAEA. Ian recently stepped down as Managing Director of Humberts after the ailing firm was sold to a travel company, and now holds a ‘special projects’ role at the company. He is joined by Mark Bentley (pictured, left) of Birmingham agency Paul Carr who replaces outgoing President Katie Griffin, and Lauren Scott of Whitley Bay firm Trading Places (pictured, below) who is now President Elect. As well as looking forward to meeting the fellow member agents, Mark says he also wants to work “with the Propertymark board in encouraging the government to move forward with their indicated intention to look to regulate the sector and to find a way to speed up the house buying and selling process”. ARLA ARLA’s new team at the top is Peter Savage (pictured, left), who is now the organisation’s president, replacing Sally Lawson. Peter has been ARLA president before during 2015/16 and is chairman of Oxfordshire lettings agency Simplify Housing, the website for which was…
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Glut of properties for sale building up in London and South, says Rightmove
Rightmove reckons homes are taking longer to sell in London and the South while the north and Wales remain active.
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Purplebricks USA gambles on expansion into Las Vegas and Phoenix
Hybrid agency Purplebricks USA has set up shop in two more cities within America including Phoenix, Arizona and Las Vegas.
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