Letting & Estate Agent Podcast

The UK Property Market for the week ending Sunday, 17th March 2024 (Week 11) continues its onward journey with regard to decent levels of transactions and house prices achieved. In this week’s UK Property Market Stats Show on YouTube with Rob Smith, the headlines are as follows .. · House Prices on the 68k Sale Agreed homes in March stood at £341/sq.ft (Feb ’24 £339/sq.ft & Jan ’24 to £331/sq.ft) · Listings for last week (Week 11), like last week, are 8% higher than Wk 11 average (2017 to 2024). · Total Gross Sales YTD are 10.6% than 2023 YTD levels & 8.9% higher than 2017/18/19 levels · Net Sales last week 10.6% higher than Week 11 2023 · Sale fall-throughs drop slightly to just under 1 in 5 sales. 🔗 YouTube Link to The Show - https://youtu.be/jezs6YiQGzY Chris’s In-Depth Analysis (Week 11) : * New Properties to Market: The UK saw 37,791 new listings. This year's YTD listings stand at 370,293, 9.1% higher than the historical 8 year YTD average of 341,086 and 9.1% higher YTD 2023. * Average Listing Price: £441,290. * Average Asking Price of this week’s Listings vs Average Asking Price of the Properties that Sale Agreed this week: Dropped slightly to 21%. The long-term average is between 16% and 17%. * Price Reductions: Last week, 20,320 properties saw price reductions, a significant number compared to the 8-year Week 10 average of 14,435. This means 1 in 7.3 properties each month are being reduced (Long term average 1 in 9.5 per month) * Average Asking Price for Reduced Properties: £397,405. * Gross Sales: 25,718 properties were sold stc last week (a 1.6% increase from last week’s Gross Sales figures). Yet, its was 23,601 for the same week 11 in 2023. Average for 17/18/19 was 23,341 for Week 11 - therefore, all things continue to look well. * Accumulative Gross Sales YTD: The total stands at 251,854, exceeding the average of 231,252 from 17/18/19 and 227,766 in the same week 11 in 2023. * Average Asking Price of Sold STC Properties: Still staying in the £350k/£360k range at £363,682. * Sale Fall Throughs: Reduced to medium medium trend levels this week at 5,049, still below than the 2023 whioe of year average of 5,382 weekly fall-throughs and 7,590 weekly sale fall thrus in two months after there Truss’onomics Budget in Q4 2022. * Sale Fall Through Rate: Dropped slightly from last week, continuing its medium term downward trend at 19.63% for the week (8 years average is 24.8%) * Net Sales up 3.8% from last week’s figures at 20,669 for the week, above the 17/18/19 average of 18,819 for Week 11. * Accumulative Net Sales YTD: The total stands at 197,600, 6.4% higher the 17/18/19 YTD Net sales average and 14.1% higher than the YTD figure for 2023 for Net Sales (2023 : 173,116). This week’s local focus is on Milton Keynes This week's Graphs and Charts for personal use - https://we.tl/t-8qIL5jTBDZ

Clément Delpirou is the President of iAd, one of Europe's largest Estate Agency groups. He came to London in November 2023 and I caught up with him and Lee O'Brien in London. In this chat I chatted with Lee about what the French can teach the British about Estate Agency NB - As everyone knows, nobody pays to go onto the WatkinSofa. Clément was in London for 24 hours, so time did not allow him to travel to Grantham. Therefore, I travelled to London to interview him and Lee O'Brien from iAd. The cost the film crew (Matt and Nick), the editing costs and train tickets were covered by iAd. I set the questions and no special treatment was given to iAd because of this. I was not paid for my time.

Clément Delpirou is the President of iAd, one of Europe's largest Estate Agency groups. He came to London in November 2023 and I caught up with him to chat about what the French can teach the Brits about Estate Agency NB - As everyone knows, nobody pays to go onto the WatkinSofa. Clément was in London for 24 hours, so time did not allow him to travel to Grantham. Therefore, I travelled to London to interview him and Lee O'Brien from iAd. The cost the film crew (Matt and Nick), the editing costs and train tickets were covered by iAd. I set the questions and no special treatment was given to iAd because of this. I was not paid for my time.

Silvia Eldawi, started her property career with the famous Northfields Estate Agency in West London, going on be become Lettings Director with Lauristons (before they were bought out) then moved to Dubai around 7 years ago. She has managed prestigious properties for various elite clients including royalty and developers. Renowned for her excellence. She's mentored over 750 property professionals globally, focusing on exceptional service and strong networks. Silvia stays ahead of trends and technology, founding PROPOLOGI, Dubai's Real estate podcast which future-proof real estate agent professionals with comprehensive training and support. Her achievements include co-founding a successful proptech startup and winning numerous awards, making her a sought-after speaker and influential figure. In December 2023, she dropped by the WatkinSofa to chat all things Estate Agents Who Are Overlooked For A Promotion Or Payrise

Jamie Minors is an estate Agent in Norfolk. In his early 30s, this chap has made huge waves in the East Anglian property market alongside his business partner Alex Brady with their Estate Agency Minors & Brady. In this video Jamie talks about How To Recruit, Train And Keep The Best Estate Agency colleagues (Negs & Valuers etc)

I asked Lee O'Brien from iAd if the UK needed another self employed estate agency model

James Cocker is a guru of all things Facebook Ads for Estate & Letting Agents - that's all you need to know really. James came down to Grantham, the G'Town, the 'Tham in Autumn 2023

The UK Property Market for the week ending Sunday, 10th March 2024 (Week 10) continues on a good track with regard to transaction levels and house prices achieved. In this week’s UK Property Market Stats Show on YouTube with Iain White, the headlines are as follows .. · House Prices on the 34k Sale Agreed homes in March stood at £341/sq.ft (February £338.77/sq.ft & Jan ’24 to £331/sq.ft) · Listings for last week (Week 10), like last week, are 9% higher than Wk 10 average (2017 to 2024). · Total Gross Sales YTD are 10.8% than 2023 YTD levels & 8.8% higher than 2017/18/19 levels · Net Sales last week 8.4% higher than Week 10 2023 · Sale fall-throughs creep up slightly to just over 1 in 5 sales. 🔗 YouTube Link to The Show - https://youtu.be/jezs6YiQGzY Chris’s In-Depth Analysis (Week 10) : * New Properties to Market: The UK saw 37,903 new listings. This year's YTD listings stand at 332,502, 8.7% higher than the historical 8 year YTD average of 306,014 and 8.8% higher YTD 2023. * Average Listing Price: £440,688 . * Listing vs Sale Agreed Prices: The difference continues to hang around like bad smell at 23% mark. The long-term average is between 16 and 17%, so something this high continues to concern me. * Price Reductions: Last week, 19,623 properties saw price reductions, a significant number compared to the 8-year Week 10 average of 14,955. This means 1 in 8 properties each month are being reduced. * Average Asking Price for Reduced Properties: £398,297. * Gross Sales: Impressively, 25,313 properties were sold stc last week (a 3.9% drop from last week’s Gross Sales figures. However, Its was 23,417 for the same week 10 in 2023. Average for 17/18/19 was 22,719 for Week 10 - therefore, all things continue to look well. * Accumulative Gross Sales YTD: The total stands at 226,136, exceeding the average of 207,911 from 17/18/19 and 204,165 in the same week 10 in 2023. * Average Asking Price of Sold STC Properties: Stubbornly staying in the mid/late £350k range for months at £359,155. * Sale Fall Throughs: Back to normal medium levels this week at 5,398, still below than the 2023 while of year average of 5,382 weekly fall-throughs and 7,590 weekly sale fall thrus in 2 months after there Truss’onomics Budget in Q4 2022. * Sale Fall Through Rate: Picked up slightly from last week, yet still only back to its medium term downward trend at 21.33% for the week (8 years average is 24.8%) * Net Sales down 5.8% from last week’s figures at 19,915 for the week, above the 17/18/19 average of 18,263 for Week 10. * Accumulative Net Sales YTD: The total stands at 176,931, 6.0% higher the 17/18/19 YTD Net sales average and 14.6% higher than the YTD figure for 2023 for Net Sales (2023 : 154,430). Local Focus This week’s local focus is on Chesterfield Watkin’s Thoughts Steady as she goes is the order of the day for listings and sales … but (there is always a but!) Of 238,897 properties that have left Estate Agent’s books since 1st January 2024, only 120,211 (or 50.32%) have exchanged contracts and Agents therefore been paid on them. The others 118,686 were withdrawn with the agent paying all that money in marketing expenses, for them not to earn one penny. (In London that drops to 37.8% of properties being exchanged) So whilst the market is doing OK, remember, it’s it isn’t 2021. Don’t overvalue (or if you do, get it down after 3 or 4 weeks maximum), and get the home sold. Charts (for personal use and not for social media) - https://we.tl/t-3QkQZL4SX5

Toby Martin dropped by the WatkinSofa in the Autumn of 2023. Toby Martin is a top chap, a lettings expert from Bath, Propertymark Regional Executive, Husband & father, Mentor and 'That Video Guy' to chat all things work - life balance in Estate & Letting Agency

Chris Webb came to Grantham to sit on the Watkinsofa in the Autumn of 2023 to chat about the Future of Self Employed Estate Agency Model In The Next 10 Years