Showing posts with label market share. Show all posts
Showing posts with label market share. Show all posts

Friday, September 18, 2015

Numbers Up - Friday

‘How did it go?’ Asks negotiator S, as I come back into the office wearing my disappointment like a tramp’s overcoat. I thought she was better at reading body language, most women are, but then again it might be just as well she can’t tell what I’m sometimes thinking…

‘Some people just won’t listen.’ I tell S dejectedly, as I walk towards the message book with trepidation. Bad news tends to hunt in packs, and after a pair of idiots convinced the market will support £50,000 more than their bog-standard end of terraced house is worth, I’m not expecting a call from The National Lottery. 

‘I think people get the estate agent they deserve.’ Opines S pensively.
‘The greedy gits do.’ Agrees  assistant manager T,  joining the conversation as he re-enters from the direction of the gents’ toilet. Terrific, I was hoping for some contemplative time in there with the dog-eared copy of FHM, now I’ll need to leave it a while.

‘Those tossers across the road had been in before me.’ I say nodding toward the opposition agents, not  wanting to read the message book quite yet. ‘Told them their house was worth fifty grand more than it is. Ignored the fact that two identical homes in neighbouring roads have both completed at £10,000 less than my suggested asking price, in the last three months.’

‘Let them waste their time marketing it.’  Suggests T insouciantly. ‘Nobody will pay that sort of silly money.’
I hope not. But then demand is strong, supply is weak and there are an awful lot of idiots out there.
‘Even if they did,’ says S. ‘Their surveyor would down-value the sale price and everyone would be back to square one. Complete wast of time.’
Time-wasters are never in short supply - sadly, sensibly priced homes to sell usually are.

I finally glance at the message book. A couple of vendors to call back, a survey finally booked on a long-standing sale in progress - not bad - then a note to call back my bean counter boss. Sales falling through, feel like a sickening kick in the stomach. Everyday house moving problems, like a slow drip Chinese water torture. And a pedantic, figure-fiddling, frustrated accountant with about as much real-life knowledge of the property market as the last couple I’ve just visited, questioning your every move, is akin to someone grasping your gonads and slowly, incrementally, twisting.

‘What did he want?’ I ask rhetorically.
‘He didn’t say.’ Answers S, with a shrug and an endearing half-smile.
‘Board penetration not high enough?’ Suggests T with a shake of his head.
‘Financial services ratios too low.’ Offers fat mortgage man M divisively.
‘Lettings department doing more business than sales?’ Contributes B, from her one-woman dating desk, unhelpfully.
‘Perhaps he just wants to see how you are?’ Pipes up trainee F, to riotous laughter all round. ‘What?’ He says, crestfallen. 
My God, he’s got a lot to learn.

‘How is he?’ I ask the bean counter’s secretary. You need to cultivate the gatekeeper and although I would’t shag her, I’ve done my best to stroke her ego for the last few years.
‘Bit of a grumpy mood.’ Answers the frumpy middle-aged woman, who if I didn’t still believe I was twenty-five inside, I’d concede is younger than me.
‘Any idea what it is this time?’ I say flatly.
‘Well he’s been hunched over his laptop all morning.’ Replies the woman.
Porn or the P and L accounts then. Either way it’s going to be hard.

‘Your available stock figures are worryingly low.’ Reveals the bean counter after the cursory, insincere, pleasantries. No shit Sherlock. I hadn’t noticed every time I go to the filing cabinet for property details, then return empty-handed like some malnourished Oliver, to apologise to hopeful buyers about the dearth of homes to offer. Hadn’t twigged we were slowly starving. Hadn’t realised the opposition were deliberately mis-leading sellers to win the initial instruction.

‘Increase your suggested asking price by another 10% each time.’ Says the bean counter. ‘I want market share.’

I have market despair. 


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Saturday, April 28, 2012

The Way It Is - Friday



‘That tool on London road is back on the market with someone else.’ Announces assistant manger T dismissively, as he walks through the door bristling. I’m guessing the market appraisal he’s just been on was a waste of time, but then seventy percent of them are. If it’s not another agent cutting fees or over-inflating value, it’s an owner with unrealistic price expectations, no serious intention of moving, and wanting a figure for their divorce negotiations or building insurance claim.

‘He’s a tosser.’ Agrees negotiator S feistily. She usually charms the vendors with regular contact – something, if they’ve seen her in person males and the separating lesbian couple, crave even more – but the miserable man at the house in question was immune to her assets.
‘It’s not an easy sell.’ I agree, not wishing to be seen denigrating a client without the cloak of anonymity.

The house is right on a busy road, with difficult access and a poor plot size. Families dislike the proximity to the traffic for fear of children running out into the road, older buyers are not prepared to put up with the noise, at least not at the figure the owner expects. Annoyingly, I told him all this at the time but he insisted on a higher than recommended asking price. In a moment of weakness and under pressure from the bean counter boss on my new instruction targets, I relented.

‘We should find out how much it’s on the market for.’ I say, wondering how much he’s reduced now he’s swapped agents and cursing inwardly for the lost marketing costs, not to mention the hurt a rival agents sold board will inflict every time I drive past, until completion.

‘Already done that.’ Says T smugly waving his web connected mobile. It’s the famous one that people will pay a premium price for - no matter how close to the dual carriageway they are. I tried to master it once and failed miserably, which doesn’t say much for my intellect. Outwitted by a smartphone.

‘Have a guess.’ Teases T shaking his head in seeming disbelief. I go first; lopping £50,000 of the price we laboured at for four months. T just continues shaking his cranium. S tries £30k lower than before and T scoffs in derision. Five fruitless minutes later as S and I compete in an ever-spiralling series of reductions that eventually get back to 1990 prices and an approximation of affordability, we give up.

There was a time, pre internet portals, when you had to resort to subterfuge to find out what other agents were marketing at. Registering on their mailing list with a false identity, ringing up and disguising your voice pretending you’d seen the board and were a serious buyer, or waiting until the weekly property paper appeared and scanning that. They did it to us, so we had no choice but to reciprocate. Now you just look on-line

Then dozy trainee F pipes up, bringing me back to the price guessing game as he says ‘I reckon it’s gone up.’
I spit out a derisive laugh as S shakes her head and her tits follow in tandem, but even before my sarcastic chuckle, or S’s breasts have stilled, I realise the uncomfortable truth. The idiot savant is right. And T confirms it.

‘Yep, it’s on the market for £20,000 more than we had it for.’ Scoffs T waving his phone in confirmation.
‘Nobody will ever pay that.’ Predicts S confidently.
‘And if they do,’ I begin less confidently, before I regain my equilibrium by appending a more certain. ‘The surveyor will down-value it ruthlessly.’
‘They down-value whatever the agreed price is.’ Sneers T with feeling.

‘So why would the other agent put it on for such a ridiculous price?’ Asks F with the second sensible comment of his career to date.
And I tell him: because they can, because they are probably under pressure to maintain their market share, board count and register. Because the person they sent to value it is probably unqualified, and inexperienced, with a bad suit and a badly sign-written car. ‘It’s ridiculous.’ Concludes F.

Make that three.

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