Glentree International
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Housing Market
People need homes and we need to address the problem once and for all
Glentree International boss Trevor Abrahmsohn says that whilst everyone likes the cosy, utopian, fully upholstered idea of 'homes for everyone', a burgeoning population cannot live in three-bedroomed semis in the sky.
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Latest property news
Senior industry sales figure Jeremy Gee joins London estate agency Beauchamp
After a short stint at new homes builder Fairview Jeremy Gee is to return to estate agency at the Mayfair-based agency to run its London operation.
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Latest property news
LonRes Summer Party and awards – in pictures
There are thousands of estate agents around the UK who like to throw a summer drinks party for staff and clients. And as long as the weather holds, why not? But perhaps best-known, and the most difficult to get tickets for is the LonRes Summer Party which this year took place recently on Belgrave Square in the heart of London’s central Belgravia district. Some 700 guests attended the event, at which Lonres chairman William Carrington welcomed everyone and also announced winners of the much coveted LonRes Awards. These celebrate the best deals in London’s super-prime market each year, using data from the LonRes London property data bank, as well as several people awards. The Negotiator was lucky enough to get hold of a ticket to the event. Here are some of the winners. Let of the Year Savills Waterfront, Laura Bushells Best Office Administrator Sinead Boxell of Sandfords Estate Agents (Regent’s Park) Let of the Year, East London Knight Frank Canary Wharf, Chanel Rodriguez Best Newcomer Award Pollyanna Prescot, Wetherell Lifetime Achievement Award Trevor Abrahmsohn, Glentree International
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Guest Blogs
‘Online estate agencies are fatally flawed’
As things stand at present online estate agency services occupy 3% of the market and it is predicted to rise to 7%. The principal of paying 20% upfront of an average estate agents fee, in the vain expectancy of selling your property at the highest possible price, is fatally flawed. Let me explain why. Online estate agencies employ the services of a local estate agent who meets you at your house to discuss, amongst other things, value. This could be up or down of the real figure by a large margin and then, you are ‘on your own mate!’ The agent is getting a small fee for the attendance and, therefore, doesn’t exactly have his/her ‘heart in it’ – can you blame them? You have to show applicants around the property yourself and handle the negotiations, as best you can, with, for example, a ‘Ladybird DIY version’ of ‘how to sell your home’. You will then have the dubious task to monitor the sale with the buyers and the solicitors for both sides, directly, which ordinarily should not be your responsibility and you hope and pray that the sale proceeds as expected. Can you be sure that the, so-called, potential…
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Movers & Shakers
Glentree expands Rentals
Glentree International, has welcomed Freddie Gershinson, who joins the company from Foxtons in Temple Fortune as Senior Negotiator, with a brief to expand the Lettings Department.
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Guest Blogs
Mansion Tax
Vince Cable’s pet hobbyhorse, Mansion Tax, is daft, irresponsible and unworkable – apart from that, a great idea! It will have such a profound effect on the £1m plus residential property sector that a great deal of the revenue/foreign investment earned by Stamp Duty, VAT, Income and Corporation Tax, through estate agents earnings, will be lost. What Cable thinks he will receive by way of £1.6bn revenue for the Exchequer will be dwarfed by what he will lose. Remember, that on a typical £2m house, if the tax is one per cent, it will equate to £20,000 that requires approximately £40,000 to be earned. So effectively, in order to open the door of your £2m house, which, if you are lucky will be in pre-tax earnings, you have a huge burden before you even turn the lights on. And, if you consider that this probably will apply to a 2000sqft property, perhaps 1000sqft in the better parts of London, this cost will be penal and there will be an exodus of wealthy buyers fleeing to Monaco, Dubai, Geneva and anywhere else to escape this harsh regime. As it is, an American family of four will pay a levy of £200,000…
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