Letting & Estate Agent Podcast

Jo Bourne, Estate & Letting Agency Trainer came to Grantham in January 2024 on the WatkinSofa to chat about Mum Guilt And Imposter Syndrome

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 landlord evening for buy-to-let landlords

The UK Property Market for the week ending Sunday, 3rd March 2024 (Week 9) 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 Bryan Mansell, the headlines are as follows .. · House Prices on Sale Agreed homes in February £338.77/sq.ft (Jan ’24 to £331sq.ft) · Listings for last week (Week 9), like last week, are 10% higher than Wk 9 average (2017 to 2024). · Total Gross Sales YTD are 11.1% than 2023 YTD levels & 8.4% higher than 17/18/19 levels · Net Sales last week 14.5% higher than Week 9 2023 · Sale fall-throughs dip to below 1 in 5 sales. 🔗 YouTube Link to The Show https://youtu.be/txjLU4-L-ZQ Chris’s In-Depth Analysis (Week 9) : * New Properties to Market: The UK saw 37,447 new listings. This year's YTD listings stand at 294,599, 8.6% higher than the historical 8 year YTD average of 271,118. * Average Listing Price: £435,874. * Listing vs Sale Agreed Prices: The difference stands at 23%. The long-term average is between 16 and 17%, so something this high continues to concern me. * Price Reductions: Last week, 19,665 properties saw price reductions, a significant number compared to the 8-year Week 9 average of 13,945. This means 1 in 8 properties each month are being reduced. * Average Asking Price for Reduced Properties: £398,818. The important thing here is to analyse the asking price of properties coming on the market vs average asking price of properties being reduced vs average asking price of properties being sold stc. * Gross Sales: Impressively, 26,373 properties were sold stc last week. Its was 23,208 for the same week 9 in 2023. Average for 17/18/19 was 23,080 for Week 9 - therefore, all things looking well. * Accumulative Gross Sales YTD: The total stands at 200,823, exceeding the average of 185,132 from 17/18/19 and 180,748 in the same week 9 in 2023. * Average Asking Price of Sold STC Properties: Holding steady at £355,424, continuing to mirror the latter half of 2023. * Sale Fall Throughs: Back to normal medium levels this week at 5,224, still below than the 2023 while of year average of 5,382 weekly fall-throughs and 7,590 weekly fall thrus in 2 months after there Truss’onomics Budget in Q4 2022. * Sale Fall Through Rate: Back to its medium term downward trend at 19.81% for the week (8 years average is 24.8%) * Net Sales at 21,149 for the week, above the 17/18/19 average of 18,800 for Week 9. * Accumulative Net Sales YTD: The total stands at 157,016, 105.7% of the 17/18/19 average. The YTD figure for 2023 for Net Sales 136,063. * House Prices on Sale Agreed homes for whole February finished at £338.77/sq.ft (based on 82,912 UK properties sold stc / sale agreed). For comparison, it was £326.71/sq.ft in Q4 2023 and £329.74/sq.ft in whole of 2023.

Caught ups with Lee O'Brien from iAd about fees in UK Estate Agency

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

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 video in his Lettings Agency and how its helped him grow it

Chris Webb came to Grantham to sit on the Watkinsofa in the Autumn of 2023 to chat about the one mistake Estate Agents make when starting their own Agency

Despite the doom mongers, the UK Property Market for the week ending Sunday, 25th February 2024 (Week 8), is doing rather well regarding transaction levels and prices achieved. In this week’s UK Property Market Weekly Report on YouTube with Ben Madden, the headlines are as follows .. · House Prices on Sale Agreed homes in February £340/sq.ft (Jan ’24 to £331sq.ft) · Listings for last week (Week 8) are 10% higher than Wk 8 average (2017 to 2024). · Gross sales YTD are 10.7% than 2023. · Net sales last week - 13.7% higher than the 2023 Week 8 2023 level · Sale fall-throughs at 1 in 5 sales. 🔗 YouTube Link to The Show https://youtu.be/weIdNFKQsu0 Chris’s In-Depth Analysis (Week 8) : * New Properties to Market: The UK saw 36,133 new listings (9.8% higher than the 8-year average for Week 8 is 32,002). This year's YTD listings stand at 257,152, more than the historical 8 year YTD average of 237,035. * Average Listing Price: £442,980. * Listing vs Sale Agreed Prices: The difference stands at 26%. The long-term average is between 16 and 17%, so something is higher as this is slightly concerning * Price Reductions: Last week, 19,240 properties saw price reductions, a significant number compared to the 8-year average of 13,528. This means 1 in 8 properties each month. That is not enough. * Average Asking Price for Reduced Properties: At £390,507, this shows me the lower to mid price properties are being reduced. * Gross Sales: Impressively, 25,437 properties were sold stc last week. Its was 22,654 for the same week in 2023. Average for 17/18/19 is 23,221 for Week 8 * Accumulative Gross Sales YTD: The total stands at 174,450, exceeding the average of 162,112 from 17/18/19 and 157,540 in the same week in 2023. * Average Asking Price of Sold STC Properties: Holding steady at £350,459, continuing to mirror the latter half of 2023. * Sale Fall Throughs: Back to normal medium levels this week at 5,179, still below than the 2023 average of 5,382 weekly fall-throughs and 7,590 weekly fall thrus in there 8 weeks after the Truss Budget * Sale Fall Through Rate: Back to medium term levels of 20.36% * Net Sales at 20,258 for the week, 13.7% higher than 2023 levels for Week 8 in 2023 and above the 17/18/19 average of 19,008 for Week 8. * Accumulative Net Sales YTD: The total stands at 135,867, 104.7% of the 17/18/19 average. The YTD figure for 2023 for Net Sales 117,598 * House Prices on Sale Agreed homes in February stand at £340/sq.ft (based on 99,454 UK properties sold stc / sale agreed). For comparison, it was £327/sq.ft in Q4 2023 and £329/sq.ft in whole of 2023. Watkin’s Thoughts .. Let us all not forget that UK Estate Agents only got paid on 50% of their listings in 2023 (52.8% to be exact) Estate agents need to grapple with the stark reality that only just over half of the properties that left the books of agents, they actually get paid on (the other 47.2% were withdrawn) Many of the reasons on why this is so low stem from within our own industry. From the competitive frenzy of winning instructions to the pitfalls of offering misguided over valuations to secure a listings bonus or get one over the competition, to ineffective dull marketing strategies, Estate agents need to elevate their practices, adopt innovative marketing tactics, and provide unparalleled advice that truly resonates with sellers' needs. These stats show we need to be realistic with ours and our clients expectations and craft compelling marketing campaigns which can significantly increase your chances of success, ensuring you're not just participating in the property market but leading it. All the Graphs and Charts are available here for personal use and at the valuation (yet not on social media) https://we.tl/t-k1dYDmF0Ot

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 non-estate agents becoming self employed estate agents. 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 Corporate Estate Agents Banned From Social Media