Lambs And Slaughter - Thursday

‘Lambs to the slaughter.’ Says assistant manager T, as the first batch of bright-eyed, naive punters start to arrive.

A gaggle of fresh-faces have been peering nervously through the office window, waiting for the appointed start time of our First Time Buyers’ Evening. In truth they could come in anytime, we’re really quite welcoming - obviously we soon stopped the free coffee machine after the deadbeats and vagrants started turned up for a warming drink, on us. Bad enough they sleep in the office doorway, without providing gratis hot beverages. Don’t want to encourage them - unless the come in to a big legacy from an ancient aunt.

‘Welcome, come on in.’ Encourages negotiator S, ushering in several couples, some even heterosexual ones. Very old school.

I’ve placed S on the door as she’s the most photogenic and with her décolletage she appeals to all but the gay men. Trainee F is on standby in the kitchen, to cater for that market. We welcome all persuasions, casts and creeds, as long as they can leverage a big mortgage, or have inherited cash.

‘Going well.’ Comments T, as the office fills with eager, want-to-be buyers. We’ve brought in a couple of local, user-friendly solicitors, to give a quick legal consultation. If they get the conveyancing business, they can put some probate work our way if we get a nice cold winter.

T is right. The office hasn’t been this busy, since we sold off some ex-MOD houses at knock-down prices. Pretty sure the Government undersold those, but as with the Help-To-Buy scheme, propping up unsustainable new homes’ prices, big business will always run rings around career politicians who’ve never had a proper job.

‘Keep them coming.’ Slavers obese mortgage man M, as he takes a quick waddle to the kitchen. He’s had a stream of bushy-tailed youngsters, funnelled to his desk for free financial advice, but of course nothing comes for free. I still abide by the old-fashioned Caveat Emptor motto, but luckily not many schools round here teach Latin. Just hope he hasn’t started mis-selling again, those commission claw-backs are a bastard…

‘Some of this lot aren’t exactly in the first flash of youth.’ Comments lettings lush B, as she sulks at the back of the office. She’d rather people stay locked in to renting, but it’s dead money and you can’t easily remove generations of yearning to own your own home - although ten incompetent UK Housing ministers in a decade, tried.

‘Some of this lot must be forty, plus.’ Continues B, with obvious distain. It’s partly the market, and sky-high prices driven by lack of construction and a burgeoning population. And partly over-indulgent parents, who feed, cloth and iron for giant-sized children, well into their fourth decade. Change the locks or move to a one bed flat, folks. If your daughter is fat and frigid and your son bald and still playing an Xbox, it’s time to be cruel to be kind.

I’ve had great success with first time buyers’ evening over the years. Back in the early nineties it was a terrific vehicle for gaining fresh stock, ahead of the event, then flogging endowment policies and dodgy payment protection schemes, along with the homes. I was never comfortable with the insurance and finance side of the deal, too many conflicts of interests. But needs must, and I had a big mortgage too - not an endowment one, mind….

‘That went pretty well,’ Says T as the last couple leave and we say goodbye to the tame lawyers, with a reminder that they owe us some reciprocal business, once the icy pavements arrive.

‘More than well,’ gushes M. ‘I’ve signed-up over ten couples, with a another dozen to follow up. Got to love a naive first timer.’ He really has no redeeming characteristics.

‘How about a last-time buyer event next?’ Says T with a grin. ‘Shift some of those vacant retirement flats with the piss-stained carpets.’  

‘You’re horrible.’ Says S, with a pout.

‘We could do a bog-off double-deal tie-in with the local undertaker.’ Continues T, laughing.

Burn one, get one free.

Call Me - Wednesday

‘I’ve booked you a valuation this afternoon.’ Announces negotiator S, with that devastating smile. If the estate agency career ever goes pear-shaped she could make a passable living doing toothpaste adverts, either that or some sort of pay-as-you-go webcam based business…

‘Details,’ I prompt rubbing my hands with glee, like some latter-day Ebenezer Scrooge. ‘Details.’

‘All on the market appraisal form.’ Answers S a little smugly. She’s been well trained and will have all the information I need to get a competitive advantage. You might not need any qualifications to be an estate agent, but I’ve spent years learning my craft - and have the qualifications too.

‘Who am I up against?’ I quiz. Knowing that knowledge is power.

‘That’s just the thing answers S hesitantly. ‘Two of the usual suspects. Cheap fee Charlie and the corporate over-valuers.’

‘And?’ I ask, sensing there is one.

‘And one of those ridiculous, fee up-front, on-line outfits.’

Assistant manager T groans and says. ‘Rather you than me boss. They’ll be cheapskates who can’t see past the pound signs.’

T has a point. The on-line operators - most in the industry baulk at calling them estate agents as they don’t have a high street presence and little local knowledge - hence the call-centre tag, tend to attract the industry-naive sellers. They get the money up-front, unlike the traditional model where you only pay for a successful sale and completion, then have no incentive to continue promoting the home, or negotiating hard through the protracted sales’ process.

‘I don’t know why people fall for it.’ Says S. ‘The people they send out have no idea of the local market, tend to get the price horribly high, then disappear like mist on a May morning.’

‘Well it’s con isn’t it.’ States T, semi-rhetorically. ‘Mug them at the start for the money, tie them in to some slapdash battery-farm solicitors firm operating from a barn in Wales, then rely on the small print when they start to complain.’

T isn’t entirely wrong. The backlash against the several high-profile operators who advertise on television, funded by vast amounts of, less than savvy, investors’ start-up money, has begun. And if the market hardens, the directors who have, allegedly, been heavily offloading shares, will need those Spanish holiday homes to run to.

My clients don’t pay me, unless I negotiate a successful sale at a price they are happy with. It may be several thousand pounds, but it’s a results-based fee. If I screw up, if they, or their buyers change their mind. If one of dozens of reasons that can scupper a sale comes about - why one-in-three deals fail - they pay nothing. Nada. Not a sausage. 

‘Ah but the internet agent is £1500 cheaper than you.’ Says the potential vendor when I’m sitting in their pokey one-bed flat, later.

‘And they said our place was worth £15,000 more,’ chips in his girlfriend.

Like an incompetent Victorian canal-digger, I’m shoving water uphill again.

‘Where was the man from?’ I ask.

The couple look a bit sheepish.

‘Erm, a couple of hours drive. away.’ Admits the girl, finally.

‘So not exactly a local property expert.’ I tell them, unnecessarily. 

‘But he’s cheap.’ Persists her boyfriend.

Not if he doesn’t sell it and you’ve paid £850 you’ll never get back, I want to scream.

Successive government and a revolving door’s worth of UK Ministers have failed to get to grips with the housing crisis, but even those flawed policies look like a genius’s insight compared to the lack of understanding of the estate agent’s role and the need to ensure some level of minimum competence and perhaps some exams and licensing. I’ll be long gone before that is resolved.

‘We hear what you are saying.’ Says the boyfriend, as he shows me to the door. You don’t.

‘It’s just we’re saving so much money with the on-line lot.’ You’re not.

‘Can we call you if it doesn’t work out?’ Asks the girlfriend. No need. I’ll be contacting you much more regularly than the call-centre will.

Did you get it?’ Asks S, on my return.

I will.

----------

Grab the 'Agents Diary' e-books, they're good value, not cheap....

Links on the right, property people.