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

Tuesday, December 11, 2012

Repeat Procedure - Tuesday


‘Booked you a valuation this evening.’ Says trainee F with puppy dog enthusiasm. I decide not to remind him it should be called a market appraisal now. I still think of the exercise as a valuation myself as do the public. It’s the lawyers who advise against calling a price recommendation a ‘valuation’ to stop litigation when some of the more disingenuous players get called to account for absurd price inflation, just to get homes on their books.

‘Well done.’ I tell F as he basks in my, praise in public criticise in private – or at least on an anonymous blog – management theory. I stroll to the diary, hoping he hasn’t booked me in after hours. I often think I was born too late for this industry. In the seventies some tool decided Saturday working would be a good idea for a momentary marketplace advantage. The opening days and hours mushroomed faster than house prices after that. Then all the partners sold out to Insurance Companies, Banks and Building Societies in the eighties and while I learnt how to flog dodgy endowment policies and payment protection, they grew fat on the golf course. Not that I’m jealous, I have other handicaps…

‘Oh no not them.’ I say body sagging audibly as a couple more discs collapse on to vertebrae.
F looks at me as if I’ve just ravished his girlfriend over the franking machine. It’s an act M our fat mortgage man picture-painted the other day and an image I’m trying hard to shake. Those financial services boys know all about disturbance selling.

‘Do you know them then?’ Asks a crestfallen F. I can see S my well endowed negotiator looking sternly at me behind F’s shoulder. She knows I’m always cajoling staff to book valuation appointments, the first step to fresh business. I’m in danger of falling in to that bad manger trap of expecting people to do as I say, not as I do. Plus a much more entrancing image of S looking sternly at me, only without that nearly superfluous blouse, is doing its own disturbance routine.

‘They have been looking to move for the last ten years.’ I tell F as gently as I can manage. ‘They refuse to put their own house on the market until they’ve found something.’
‘They said we could have theirs if we get them a bungalow at the right price.’ Continues F doggedly. It’s not his fault. It’s mine for having stayed this long. I know to about 99% certainty that these time-wasters will never move. And in the unlikely event I find a bungalow at the right price, in the right location, they’d either want too much for their house, or someone in a stronger position would beat them to the punch. But there’s still that nagging 1% chance - even with a 6.45pm appointment.

‘Good evening.’ I say pointedly, as the door opens and the familiar weasel face greets me, mousy wife just behind his shoulder and the soon to be serial killer oddball teenage son, lurking in the background.
‘You’ve been before haven’t you?’ Asks the man. He’s had more agents round his house than friends visiting in the last ten years I’ll warrant and the creepy son has probably never had a live girl – or boy – in his sterile, no wall posters, room.

‘We told your man in the office we won’t be bounced into putting our house on the market until you find us something suitable.’ Reiterates the charisma-free owner, as his wife trails behind faithfully. I have to physically stop myself from turning regularly to check the son isn’t stalking me, with a knife and a bin bag.

The house is dated but spookily tidy and after seeing the garage with individual hooks for each tool, the outline of the item drawn on the wall around each place, I get an unwanted vision of the man stencilling the missionary position on the bed sheet and checking his wife’s buttock placing with a spirit level, before he commences the act.
‘Just need one more beer mat under your right cheek before we get going love.’

I finished late with no happy ending.

-----

..and the ebook here:



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.

---------------------------------------

Download the all-new e-book for less than a cup of coffee. On Amazon with free app for all formats. Kindle, PC. Mac. I-pad, Android etc.