Showing posts with label secret profit. Show all posts
Showing posts with label secret profit. Show all posts

Friday, February 02, 2018

Cash Is My King - Friday


‘So this is your third viewing of the house.’ I say to the late-middle-aged couple I’m with, as we re-convene in the lounge after a lengthy inspection involving opening cupboards unnecessarily and an awkward moment in the vendor’s underwear drawer.

Of course I know it’s their third visit. I don’t spend precious time with people without qualifying them first. There are only so many hours in the day and literally millions of time-wasters out there. I blame Channel Four and its incessant property porn programming.

‘Yes.’ Acknowledges the husband grudgingly. ‘But we won’t be bounced into any quick decisions by anyone.’ Of course you won’t.
‘He’s always been cautious.’ Says the wife, with an apologetic grin.

Now I’m thinking how dull their sex life must be, rather than how soon I can get back to the office if they are not going to make a bid. Once you get past a third viewing and still don’t make an offer, the chances of a deal recede faster than Jude Law’s hairline.

This house will sell, that I know. The owners have listened to my advice on price, as they’re committed and not greedy. Other agents had tempted them with unrealistic valuations and an on-line outfit wanted the best part of £1,000 up-front with no motivation to do anything else, but the owners were experienced and sensible. If this pair don’t make a decision soon, I’ll find someone who will. But they are in a good position….

‘I understand you are cash buyers.’ I say as the couple prevaricate. It’s always best to double-check and our office idiot, trainee F, conducted the first two viewings.   
‘Yes.’ Says the husband smugly, adding. ‘You lot love that don’t you.’

Well, it’s better the offering pork bellies, or some smoke and mirrors digital virtual currency like Bitcoin, that I’m convinced will turn out to be some enormous Ponzi scheme when it finally unravels. Caveat Emptor.

‘Well if the money is in the bank and you are ready to sign a contract, unhindered by another sale, it puts you in a strong position.’ I say, by way of clarity. Although, some of the corporate estate agency chains would rather buyers used their mortgage services and pet conveyancing operations, as the secret profit kickbacks add value to every transaction.

‘Well it will be.’ Says the wife.
It’s not an audible alarm, but it might as well be. My heart sinks. Surely F has qualified this pair properly? We’ve spent hours with them already, plus  I picked them up from the station as they are obviously too stingy to cough for a taxi.

‘So, the money is not ready.’ I probe, as the husband scowls at his wife.
‘Once the sale goes through it will be.’ Says the husband curtly.
‘You’re selling another home?’ I ask, thinking if it’s not even under offer, I’ll probably enter orbit shortly.

‘It’s not a house.’
 Says the man, dismissively.
What then? Good god, is it a racehorse? A classic car, some pre-renaissance painting?
‘We’re selling a business.’ Enlightens the man. I’d have preferred them to be flogging Shergar - once they find him.
‘So not a cash purchase.’ I advance wearily.
‘It will be, once the deal goes through.’ Counters the man, peevishly.

Commercial business sales are infamously long-winded, as buyers and sellers argue over premises, stock and that notoriously hard to value, goodwill element. A buyer in a matrimonial sale would be, statistically, more likely to perform than this pair. I can find a better buyer for my client. I just can.

‘What time is your train?’ I ask flatly, as we head back towards the station.
‘Oh not for another couple of hours.’ Says the wife. ‘We were wondering if you could drop us off at one of your competitors, we’ve a viewing booked with them in fifteen minutes.’

‘Where’s F?’ I demand angrily when I get back to the office. I’m pretty sure the couple’s train will be diesel, or electric, but if not I’ve raised enough steam to power the Flying f***ing Scotsman.

‘Out to lunch.’ Says negotiator S, warily.


Permanently.

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Tuesday, September 17, 2013

Batting For Both Sides - Tuesday


To a corporate day out at the cricket, I’m only going because the guy in Land and New Homes had a better offer, but gift horses and mouths. And yet even as I walk through the gates and flash my all areas access pass the long-buried punk rock, angry socialist feelings regurgitate like a bad kebab.

I wrestled with my conscience for years, particularly through my first property recession when the repossessions came thick and fast. I felt a bit better when I snatched back a flat a fellow, but dodgy, agent had mortgaged to the hilt. To fit the stereotype he’d sub-let illegally, hadn’t made any payments, taken the tenants money, then stripped all the fittings out days before the bailiff and I arrived. Even so, I still feel I shouldn’t be there in multi-million pound homes, or executive boxes with a dozen braying hoorays. There is a free bar though…

‘Champagne sir?’ Asks a comely waitress as I shake a few hands and apologise for the fact I’m a stand-in guest. I nod and smile, then detect a briefest flash of distaste from the girl as I grab the long-stemmed flute, dripping with condensation, and gulp down the bubbles. She’ll have to work on her facial expressions if she wants to make it in sales. The pavilion clock shows a shade after 10.30am.

‘So how’s the second hand market doing?’ Asks a hard-faced, yet curiously attractive, woman from the Developers footing the bill for the gig. She’s dressed in power skirt and jacket combo and will be thrown out of the ground if she walks on the pitch in those vertiginous heels.
‘There are deals to be done if buyer and seller are realistic.’ I tell her with a stock phrase from my mental basket of answers.

She laughs. ‘Yes, people are always bleating about the market, but we are shifting plenty of new units.’ I nod a non-committed response. ‘The trouble is the lenders are too picky on who they’ll advance to, then their valuers carp about the price.’ She continues, then pauses and looks me up and down. Briefly I wonder if she fancies me, until she says. ‘Has it always been like this?’ It must have been the bubbly. I’m as delusional as 75% of vendors.

Come the lunchtime break I’m wondering round the public areas, legs Bambi-like from free booze and not enough vol-au-vents. It feels good to be back with the public. Momentarily, I’m tempted to buy a sweaty looking hog roast in a bap, but I move on. I’m a man of the people at heart, I think, until I see the snaking queue for the gents’ toilets. I head back to the cordoned off area, nodding convivially at the dayglow-jacketed bouncer on the gateway. He gives me another unguarded look. Probably seen which box I’m in. I decide he’s one of those House Price Crash doom-mongers who sit in the same room they’ve occupied in the parents’ house for the last forty years, stalking message boards exchanging prophesies of meltdown to like-minded men in their pyjamas – all waiting for homes to become affordable.

‘There are winners and losers in all walks of life.’ Pontificates a sweaty-browed lawyer I’m sat next to on the balcony, as the number three batsman departs for a duck.
‘The trouble with all these people whining about property prices is they’re not prepared to graft.’ Continues the man, turning towards me and blasting a garlic-laced typhoon of bad breath my way. I’ve said something similar myself; after all it was never easy. But still, like the chilli and rice I opted for an hour ago, it doesn’t sit well with me. Like the time I tried to set up are new home router, I realise I’m not that good at networking. I want to go home.

‘How much introduction fee do you get from the conveyancing firms you recommend?’ Asks the lawyer earnestly, revealing his true interest in proceedings. We’re not supposed to take any secret profit without reporting it to our client nags the inner voice from a long distant man who studied the Estate Agents’ Act.

I have his business card – just in case.

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