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Competition hearing told that ‘one other portal’ rule is ‘illegal’

February 21, 2017

Judge asks QC for agent why his client ever signed up Source:: Competition hearing told that ‘one other portal’ rule is ‘illegal’

‘Very few agents’ bother to reply to requests for property details, says Peter Knight

There is, it seems, nothing like moving house to bring home to someone in the business what it really is like. Peter Knight, of the Property Academy, was renting until very recently, and has now bought. His checkout report with the letting agent was fine, with no deductions. No scratches on the kitchen worktop, no […]

Enough to try the patience of a saint! What are the most irritating questions you’ve been asked?

What are some of the oddest requests you have had as an agent? Barbara Sellers, a relocation agent with Premier Property Search, seems to deal with some particularly demanding tenants. But maybe she’s not alone. Here is a (small) selection of her examples. Call at 11.00 pm at night regarding a serviced apartment. I cannot […]

Letting agent launches new Airbnb service which passes on financial benefit to landlords

A new home-sharing service has launched, allowing tenants to sub-let their homes in Airbnb-style – but passing on some of the financial benefit to the landlord. Letting agents Lavanda says London landlords could benefit to the tune of a 10% uplift in rental yields. The firm claims to be offering an innovative and fully compliant […]

Third of agents in town fined for failing to show fees – and this was after Trading Standards warning

February 20, 2017

Thirty letting agents across one of Britain’s major towns have been fined by the council’s Trading Standards department after failing to stick to new transparency guidelines. The agents – almost one third of all those in Milton Keynes – had not been displaying their fees as required by law. Their collective fines add up to […]

Rightmove highlights to vendors how over-pricing turns off buyer interest

The price of property coming to market has increased by the lowest amount for eight years on a monthly basis, Rightmove’s House Price Index has revealed. The portal’s latest data shows that February saw asking prices increase by 2% or £5,986 to average £306,231, the smallest monthly increase since February 2009 and below the average […]

Taxman and industry regulator to co-operate more closely on estate agents

HMRC and industry regulator the National Trading Standards Estate Agency Team have agreed new ways of co-operation. The aim is to enhance the flow of information on estate agency businesses and whether they have registered under money laundering regulations and for property redress schemes. Designed to make it more difficult for non-compliant agents to operate […]

New regional property portal launches with marketing budget of £10m

A new regional property portal has launched, aimed at playing to the strengths of the ‘northern powerhouse’. Moveinorth initially covers Leeds, Wakefield, Bradford and Harrogate, and at the weekend had some 670 properties listed with agents including some well-known names. Its founder is John Dixon, whose background is in property development and media planning. He […]

Mind that gender pay gap! Male RICS members earning £11,000 a year more than women

Male chartered surveyors earn on average over £11,000 more per year than women surveyors. The gender pay gap has widened markedly in the last year, the RICS has reported in its latest survey carried out with Macdonald & Company. A year ago, the difference in male and female pay was £7,000. Male RICS members earn […]

Top-level departure at Countrywide as chief marketing officer leaves within a year

February 17, 2017

One of the biggest hitters at Countrywide is leaving after only a year in her role. Helen Normoyle, chief marketing officer and a member of Countrywide’s executive team, is a former director at the BBC. She is quitting Countrywide to take up a position at Boots. She leaves at the end of this month. It […]

Venture capital firm Octopus bows out of Zoopla after realising its full investment

An early backer of Zoopla has disposed of its stake in Zoopla, saying it was proud to have played a part in the company’s success. Octopus Titan VCT yesterday said it had realised its full investment in the company. Zoopla was founded in 2007 and launched in January 2008. The following January, Octopus invested in […]

Landlord ordered to use letting agent after being handed Criminal Behaviour Order

A notorious landlord has been banned from managing her own rental properties, and must instead use an agent. Furthermore, she has been ordered to pay the agent – who must be a member of an authorised redress scheme – sufficiently. Katia Goremsandu could also face jail after an extensive investigation by the local authority led […]

Rightmove reminds agents of new 14-week listing rule

Rightmove yesterday sent out a reminder to agents about the new ‘anti-juggling’ 14-week rule which was introduced in December. The reminder emphasised that a property cannot be relaunched as a new instruction within that time-frame, which has been dramatically increased from two weeks. It said: “If you have a property for sale that you take […]

Tenant activists claim victory after lender says it is dropping ‘rent rise’ clause

A controversial clause in buy-to-let deals with Santander asking landlords to increase rents by “as much as can be reasonably achieved” looks to be in the process of being dropped. Tenants’ action group Acorn yesterday claimed victory after organising protests tomorrow in eight towns and cities across the UK about the clause. Acorn said the […]

Agent launches advertising ‘game changer which could spell shift from portals’

February 16, 2017

Spicerhaart is pioneering in the UK a new social media software, invented in Scandinavia and called Flink, which puts property ads on social media in front of the people most likely to buy. Spicerhaart describe it as an absolute game changer which could transform the house selling process – with the suggestion that it might […]

Advertising watchdog to be asked to decide what an agent’s ‘commission’ means

The term ‘commission’ in the context of estate agency is set to be at the heart of a complaint to the advertising watchdog. The Advertising Standards Authority will almost certainly have to determine whether a commission is a percentage of the sale figure achieved by the agent; or whether the term also includes a fee. […]

Shelter calls for fees ban to be outright, demanding no loopholes ‘for agents to exploit’

Lobbying organisation Shelter is calling on the Government make sure that the forthcoming ban on letting agent fees is outright, comprehensive and unequivocal. Shelter says it is vital that are no loopholes for agents to exploit. Any exemptions, it says, would make the ban meaningless. In a new blog on its site, Shelter says: “While […]

Agents leaving Rightmove or Zoopla for OTM is not competitive harm, ‘just harm’ – hearing told

Yesterday’s hearing at the Competition Appeal Tribunal examining OnTheMarket’s ‘one other portal’ rule was the last to be held in public until Monday. The Tribunal is examining potential competition issues around the rule imposed by Agents’ Mutual portal after issues were raised by Connells-owned brand Gascoigne Halman. Today and tomorrow, the Tribunal is due to […]

Agent Provocateur: So little done to educate public on what we do

Anyone at the NAEA conference will have seen Miles Shipside talk about how a seller would dish out a notional £100 if they had a choice in how their agent would spend it. The results made depressing reading for agents. The public would spend just £6 on an accurate valuation, £24 on sales details, £16 […]

Property transactions fall by over a fifth in London

The number of properties sold across prime London fell 21% in the last three months of last year, compared with the final quarter of 2015. LonRes, the information and shared listing platform which covers all of central London plus a large number of other areas, says that by contrast there were 14% more properties let […]

Landlords baffled by EPC changes and Right to Rent scheme

Landlords are unaware of several current and incoming regulations that could affect their portfolio, an online letting agent has claimed. surveyed more than 4,000 landlords to assess knowledge of forthcoming regulations such as new Energy Performance Certificate rules as well as current schemes such as Right to Rent and rules on tenancy agreements. Just […]

‘Corporate espionage’ tapes provide latest twist in Agents’ Mutual case

February 15, 2017

New documents made available by the Competition Appeal Tribunal appear to be an explosive new twist in the case between Agents’ Mutual and Connells’ owned brand Gascoigne Halman. Neither Gascoigne Halman nor Agents’ Mutual would yesterday comment on the latest development. The latest twist centres on four tapes and transcripts which were recordings of meetings […]

Writing on wall for at least three big agents, says Spicerhaart boss

The writing is on the wall for at least three big estate agencies that I’m aware of, all of whom are struggling for survival as a result of the current challenging climate in the housing sector. But how many others are likely to go under this year? According to a recent report by insolvency specialists […]

Estate agent ‘over-valuations’ blamed for price cuts in homes for sale

New research published by Which? this morning claims to show that one in five properties sold in the year to September 2016 were reduced by more than 5% of the initial listing price. It says this was as a result of estate agent over-valuations. Purplebricks said that the Which? report highlighted the need for more […]

One Other Portal rule – more competition in market or a distortion? Expert witnesses clash

The ‘one other portal’ rule came under close scrutiny at the Competition Appeal Tribunal yesterday. The panel heard evidence from two expert witnesses, both economists – Simon Bishop for Agents’ Mutual, and David Parker for Gascoigne Halman. The Agents’ Mutual expert witness contended that the launch of OnTheMarket had engendered more competition between Rightmove and […]

Zoopla and Fixflo reveal they have ‘unwound’ investment deal

Zoopla and Fixflo have ‘unwound’ a deal widely publicised a year ago, when Zoopla announced a £1m investment into a quartet of Proptech businesses. Describing the businesses as “four of the most promising Proptech start-ups”, Zoopla said it was entering into a long-term strategic partnership with each. The beneficiaries were PropertyDetective, Fixflo, Landbay and Trussle. […]

Idea we cooked up a plot is fanciful, Agents’ Mutual boss tells competition tribunal

February 14, 2017

Agents’ Mutual chief executive Ian Springett said yesterday that it was “common sense” to introduce an element of exclusivity in contracts, the Competition Appeal Tribunal was told. The market was dominated by two brands, and exclusivity was needed for the company to grow, it was said. Continuing his cross-examination, Paul Harris QC, for Gascoigne Halman, […]

Competition could heat up in property portals sector, hearing told

In later proceedings yesterday, the tribunal heard from economic experts with David Parker, for Gascoigne Halman, explaining how the markets have changed in the last decade. He said: “The relevant portals operate across Great Britain as a whole. “There are some differences in the UK market, but from an economist perspective, the market definition side […]

New service launches giving high street agents chance to take on the onliners

A new internet package aimed at high street agents who also want to give sellers the opportunity of using a separate online service launches today. Called love2move, the stand-alone service is designed to let high street firms offer a fixed price service under a different brand, at £895. In the same way that agents can […]

Email is primary cause of reduction in customer service – pick up the phone, says expert

He moved into his new home last week after an 18-month search and an eight-week wait from exchange of contracts. Leading industry figure Peter Knight says it has been a testing time, and claims most of the customer service horrors could have been avoided or turned into both positive experiences and commercial opportunities. Here are […]

Right to Rent ‘causing discrimination’ in the housing market

The Government is being urged to scrap or at least set up an independent inquiry into the Right to Rent scheme before it is rolled out beyond England after widespread evidence of discrimination by landlords and agents has emerged. A report titled ‘Passport Please’ by the Joint Council for the Welfare of Immigrants (JCWI) found […]

Tragedy as little Florence loses her brave fight for life

February 13, 2017

It is with deep sorrow that we have to tell readers that Florence Jackson died in the early hours of Saturday morning. The enchanting two-year-old, daughter of estate agent Rodney, had been suffering from stage 4 neuroblastoma. The little girl, with her gorgeous smile, captured the hearts of generous EYE readers as well as many […]

Online agent easyProperty offers money back guarantee to vendors who do not get acceptable offer

Dozens of vendors are said to have taken up a money back guarantee currently being run by online agent easyProperty. It is available to anyone whose property is listed between January 1 and March 31. If they have not had an offer via easyProperty within 20 weeks of the listing, they will be entitled to […]

‘I did not put pressure on agents to leave either Rightmove or Zoopla’, Springett tells tribunal

Ian Springett, chief executive of Agents’ Mutual, denied pressuring estate agents to leave Zoopla and Rightmove. At Friday’s Competition Appeal Tribunal hearing, he continued to be cross-examined by Paul Harris QC, who is representing the Connells’ owned brand Gascoigne Halman. Gascoigne Halman was an independent agent when it signed up to Gold membership of OTM […]

Industry trainer Julian O’Dell invited by ASA to send details about online agent’s claim

An advert spotted on Facebook for online agent HouseSimple saying that it is “40% more likely” to sell a home than a high street agent has now caught the eye of the advertising watchdog. As we reported last week, estate agency trainer Julian O’Dell mused online as to what the science was behind this “rather […]

Housing association says it plans to set up an estate and lettings agency

A housing association is to set up an estate and lettings agency. Not-for-profit Ongo Homes, which is based in Scunthorpe and has over 10,000 properties in north-east Lincolnshire, says its new business will have separate branding. Since 2007, Ongo has taken over an employment agency and a roofing business and also operates as locksmiths. Lisa […]

Agents’ Mutual boss in competition case stresses he told agents to make their own decisions

February 10, 2017

Agents’ Mutual chief executive Ian Springett knew about collective decision making between groups of estate agents from the same area, it was alleged at a hearing yesterday (Thursday). However, Mr Springett stressed that this was correct only in the context that he had heard about it, and that he had told agents to take their […]

Agents’ Mutual boss ‘facilitated’ agents to ‘get into bed with each other’ – tribunal hears allegation

Agents’ Mutual chief executive Ian Springett facilitated estate agents across the UK to “lay down arms and get into bed with each other”, it was alleged at a tribunal yesterday. Mr Springett allegedly encouraged’ agents to make decisions “jointly” and sign up to OnTheMarket as he knew that once one agent in a specific area […]

NAEA conference 2017: Importance of Propertymark launch

There cannot be many conferences where the delegates enter the venue as members of one organisation and leave it as members of another, but that is pretty much what happened at yesterday’s NAEA conference held at 155 Bishopsgate in London. The sell-out event had over 500 delegates attending and the first item on the day’s […]

Law on preventing illegal revenge evictions ‘is not working’

The law on illegal ‘revenge evictions’ is not working, despite a new Act giving powers to local councils to step in. Yesterday, the BBC said that Freedom of Information requests show that over half of local councils have not used powers conferred by the Deregulation Act which came into force in October 2015. Other councils […]

New progression platform ‘slicing two weeks off transaction times’, claim

Early trials by estate agents of a new sales progression platform are said to show that its use is speeding up transactions by over two weeks. The claim is made by View My Chain, which launched last October, inviting 100 agents to take part in free trials. The platform, which is currently tracking 10,000 property […]

NEWSFLASH exclusive: NAEA and ARLA announce launch of Propertymark

February 9, 2017

A new ‘stamp of approval’ for the industry, Propertymark, is being launched today by NAEA and ARLA, largely taking the place of the National Federation of Property Professionals brand. The organisations say the launch of Propertymark, exclusively revealed by EYE, alters the emphasis from industry-facing licensing to consumer protection. Member agents will have new logos […]

Agents’ Mutual boss accused of running ‘crash, bang, wallop’ into suing Connells’ owned brand

Agents’ Mutual chief executive Ian Springett ran “crash, bang, wallop” into suing Gascoigne Halman as he knew the agent would be able to afford the court case, the Competition Tribunal Appeal heard yesterday (Wednesday). The tribunal, which the day before was told that costs of the case are likely to be £6m, is examining competition […]

Agents in Devon ‘agreed consensus’ to drop Zoopla, competition hearing is told

Agents in Devon agreed a “consensus” to drop Zoopla, it was alleged yesterday (Wednesday) at the Competition Appeal Tribunal. However, one leading agent in the west country, representing Stags, said he had not discussed his firm’s decision as to which other portal to drop with other agents. Nor did he know which portal other agents […]

Letting agent jailed after fleecing vulnerable tenants of holding deposits

A letting agent who cheated over 100 tenants and worked other scams has been jailed for 45 months. His accomplice, employee Paul Dickinson, was given a suspended sentence. Their convictions follow a lengthy investigation by the National Trading Standards North West Regional Investigations Team. Landlord Tahir ‘Tony’ Khaliq’s property empire included a string of letting […]

Belvoir acquisition team is offered one new business every day

Belvoir says it is being offered the chance to buy an agency business every working day. The firm is ramping up its encouragement for local franchisees to expand. It has announced that Steve Slawson, its franchisee in Hereford, has successfully completed on the acquisition of the principle assets of Williams Estate Agents (Hereford). The purchase […]

Agent Provocateur: Why no one in the industry can keep change at bay

Something happened at the weekend – which to someone in a newly objective frame of mind has made me think hard about an industry I’ve been part of for almost four decades. In the Sunday Times Nicholas Hellen listed 226 occupations that were ripe for automation. It was not a list printed for PR purposes […]

How Agents’ Mutual chief executive tried to persuade Big Three to join OnThe Market

February 8, 2017

The chief executive of Agents’ Mutual tried to incentivise the Big Three corporates to drop rival property portal Zoopla, a tribunal heard yesterday (Tuesday). Ian Springett encouraged senior representatives from Connells, Countrywide and LSL to “all leave Zoopla at the same time”, it was said. The Competition Appeal Tribunal heard he offered to “compensate [them] […]

Entering property portal market easy – but to do it successfully is difficult, Zoopla’s Jon Notley tells hearing

The QC representing Gascoigne Halman, Paul Harris, re-examining, asked Mr Livesey if he agreed with Mr Maclean’s description of the plans presented by Ian Springett at the Leighton Buzzard meeting as being ‘stylised scenarios’. Mr Livesey replied: “It was a very clear business plan, it wasn’t stylised in any way.” Mr Livesey also conceded that […]

Government accused of ‘throwing in the towel on home ownership’ as agents slam White Paper

The Government has come under fire after finally publishing its Housing White Paper yesterday. The 104-page document, titled Fixing Our Broken Housing Market, highlights the forthcoming consultation on the lettings fees ban as evidence of support for renters, and reveals plans to introduce three-year tenancies on Build to Rent developments. But despite communities secretary Sajid […]