The Negotiator - The essential site for residential agents

Your weekend roundup of top news, views and features

Brutal industry reaction as Purplebricks looks for 'new ownership structure'

When Purplebricks announced on Friday it was looking for a buyer it didn’t take long for the knives – and jokes – to come out. Industry reaction has been both funny and brutal.

Click here to read Brutal industry reaction as Purplebricks looks for 'new ownership structure'.

Sunak appoints replacement for housing minister - sixth in a year!

Rachel Maclean has been appointed as a DLUHC minister to take over from Lucy Frazer, who was promoted to the Cabinet.

Click here to read Sunak appoints replacement for housing minister - sixth in a year!.

Belvoir Group reports record revenue after £4 million jump

Revenue at the Group increased to a record £33.5 million from £29.6 million in 2021 buoyed by an increase on rents on new tenancies increasing by 10.8% during 2022.

Click here to read Belvoir Group reports record revenue after £4 million jump.

xxxx

The Neg's Head of Content, Nigel Lewis takes a long, cold look at the new bill to reform the PRS.

Click here to read xxxx.

MORTGAGE PAIN: Two-year deals more expensive after rate rise

Rightmove's home loans tracker shows that two-year fixed rate deals are 0.26% higher than a week ago.

Click here to read MORTGAGE PAIN: Two-year deals more expensive after rate rise.

Foxtons finally feels the 'Gittins gold' as profits surge 10%

Estate agency puts the bad old days behind it as recently-installed CEO says his strategies are working.

Click here to read Foxtons finally feels the 'Gittins gold' as profits surge 10%.

Has peak rental demand peaked passed? New data says yes

Figures from Barrows and Forrester reveal a quarterly and annual drop in tenant demand despite a crisis in the mortgage market pricing many people out.

Click here to read Has peak rental demand peaked passed? New data says yes.

Purplebricks launches national £999 selling fee under new ownership

Strike, which bought the firm for £1 just a few days ago, says bold new strategy will help grow the firm.
Text

Click here to read Purplebricks launches national £999 selling fee under new ownership.

BLOG: Want to go it alone? Here’s 10 tips to launch your estate agency

Property Webmasters boss Jamie Arthur highlights key actions that will help ensure success when setting up your own estate agency business. 

Click here to read BLOG: Want to go it alone? Here’s 10 tips to launch your estate agency.

xxxxx

Find Properties will encourage agents to differentiate themselves by improving their own web presence which will also improve standards and competition.

Click here to read xxxxx.

New CEO takes over reins at big international property portal

Kyero Co-founders Martin and Louise Dell have handed the leadership role to Gemma Coles.

Click here to read New CEO takes over reins at big international property portal.

Rightmove launches month of legislation webinars for agents

Staying compliant continues to rank high on the list of concerns from agents and remains one of the most popular topics covered in the portal's webinars.

Click here to read Rightmove launches month of legislation webinars for agents.

Letting agents have eight weeks to comply with new Northern scheme

The Merseyside scheme requires agents and landlords to submit their applications for a licence by August 31st and so far 600 have been received.

Click here to read Letting agents have eight weeks to comply with new Northern scheme.

Naive first time buyers put plans on hold after discovering 'hidden costs'

New research reveals one in seven first time buyers suspend intention to buy due to raft of 'unexpected' fees and Stamp Duty.

Click here to read Naive first time buyers put plans on hold after discovering 'hidden costs'.

BLOG: Business support, software and services – how to get 'bang for your buck'

When times are hard, it’s critical to analyse your investments – from software tools to additional services or business support, says Brian Farrell.

Click here to read BLOG: Business support, software and services – how to get 'bang for your buck'.

xxxx

xxx

Click here to read xxxx.

Naive first time buyers put plans on hold after discovering 'hidden costs'

 

Big agency launches ‘super branch’ in historic Midlands city

The Grade II listed Coventry building dates back to the early 19th Century and was once the home of the organist at the city's Cathedral. 

Click here to read Big agency launches ‘super branch’ in historic Midlands city.

Interest rates of 6% and 7% will be the new normal

Mortgage Advice Bureau boss Peter Brodnicki says that stubborn inflation continues to see the Bank of England pushing rates up.

Click here to read Interest rates of 6% and 7% will be the new normal.

In this month's issue:

 

• COVER STORY: How a branch makeover can win instructions.

 

• FEATURE: Rent guarantee insurance and how it can save your landlords.

 

• LEGAL: Direct marketing and how it can earn you a £500,000 fine.

 

• COMMENT: How to manage the credit squeeze and defaulting tenants.

 

• MARKETING: Don't be afraid of Artificial Intelligence – it could boost your business – starting tomorrow!

 

• REDRESS: Too much pressure. The Property Ombudsman adjudicates on a complaint against an over-zealous agent.

 

•INTERVIEW: The agent who got into bed with billionaire, Warren Buffett.

Click here to read .

Dinner invite to estate agency seniors issued by leading industry duo

Baldock brothers are organising their latest central London dinner gathering for all comers who are owners or directors of agencies.

Click here to read Dinner invite to estate agency seniors issued by leading industry duo.

Propertymark to probe leading lettings firm after BBC investigation

Student Haus has suspended a member of staff after being accused of letting a sub-standard property to students and faking a signature.

Click here to read Propertymark to probe leading lettings firm after BBC investigation.

BLOG: Open Banking WILL help 'generation rent' onto housing ladder

Jon Hart of Moneyhub Enterprise, says Open Banking can help renters get on the housing ladder by allowing them to share data with lenders to give real-time details of their spending.

Click here to read BLOG: Open Banking WILL help 'generation rent' onto housing ladder.

xxxx

PayProp UK boss Neil Cobbold says that the government’s flagship legislation for the private rented sector remains in limbo.

Click here to read xxxx.

xxxx

Research from Legal & General reveals the number of applicants reliant on gifted deposits was up by 10% in November.

Click here to read xxxx.

BLOG: Is Facebook a more compelling platform than the big portals?

Starberry’s Ben Sellers says harnessing Facebook's user base for estate agency marketing could transform digital innovation in the sector.

Click here to read BLOG: Is Facebook a more compelling platform than the big portals?.

Vendors still making big profits from property sales, says Zoopla

Homeowners who sold their property in 2023 made an average gain of £74,000, with Londoners seeing the largest capital gains at £137,000, according to the portal's senior researcher.

Click here to read Vendors still making big profits from property sales, says Zoopla.

WARNING: Landowners will exploit Labour's green belt building plans

Roger Mortlock of the CPRE says some owners will allow their land to become run-down so it can be used for new homes.

Click here to read WARNING: Landowners will exploit Labour's green belt building plans.

Hamptons senior quits after 18 years to join hybrid estate agency

Surrey senior and long-time Hamptons mover and shaker Philip Knight has joined the self-employed broker business, Moveli. 

Click here to read Hamptons senior quits after 18 years to join hybrid estate agency.

xxxxx

Pattinson Estate Agency is celebrating raising £50,000 for charities via its partnership with a local community foundation fund.

Click here to read xxxxx.

66% uptake of agent KPI tracker

Street.co.uk has confirmed that over two-thirds of their agent user base has already implemented the new KPI Dashboard.

Click here to read 66% uptake of agent KPI tracker.

Entries open for property industry fundraising awards

Agents Giving are now taking entries and nominations for their property industry Fundraising Champions of the Year Awards. 

Click here to read Entries open for property industry fundraising awards.

Former EXP top performer poached by rival platform Moveli

Jason Scott is the latest agent to become a self-employed broker with Moveli, which was established by a Fulham estate agent six years ago.

Click here to read Former EXP top performer poached by rival platform Moveli.

HMRC loses Stamp Duty case in dispute over 'mixed use' status

Cornerstone Tax successfully appealed HMRC objection to £225,000 Stamp Duty saving for property with woodlands and public access.

Click here to read HMRC loses Stamp Duty case in dispute over 'mixed use' status.

REACTION: Inflation holds at 2% but household costs still at historic highs

Industry figures hail a period of more stable inflation but high property costs mean many owner occupiers are still suffering as monthly costs stay high.

Click here to read REACTION: Inflation holds at 2% but household costs still at historic highs.

Labour to implement Tory's leasehold reforms but go 'much further'

King's Speech documentation reveals Labour plan to give leaseholders more rights and overall 'bring the feudal system of leasehold to an end'.

Click here to read Labour to implement Tory's leasehold reforms but go 'much further'.

King's Speech reveals Renters' Rights Bill and 'planning modernisation' drive

Opening of Parliament speech by King contained 35 new bills including plans to get Britain building and also major reforms that will affect thousands of letting agents.

Click here to read King's Speech reveals Renters' Rights Bill and 'planning modernisation' drive.

xxxx

Street.co.uk has confirmed that their custom-built lettings software has officially launched out of testing, with 100 agents already live. 

Click here to read xxxx.

SHOCK: Fifth of properties for sale are former rental homes

Claim is made by TwentyEA, which looked at the 28,000 advertised for sale during June and looked at their previous rental history.

Click here to read SHOCK: Fifth of properties for sale are former rental homes.

Buyer who 'withdrew unreasonably' from property sale to pay £35,000

Landmark case brought by Gazeal is understood to the first of its kind in the UK and, the firm says, shows such agreements are legally sound.  

Click here to read Buyer who 'withdrew unreasonably' from property sale to pay £35,000.

Labour 'will ban Section 21 without bolstering courts', lawyer warns

David Smith of law firm JMW says the new Labour government led by Keir Starmer will probably abolish Section 21 'no fault' evictions early next year.

Click here to read Labour 'will ban Section 21 without bolstering courts', lawyer warns.

Deposit alternative schemes – too good to be true?

Since the CMA announced a review into no-deposit schemes, there has been renewed scrutiny of the sector. Richard Reed looks at what they offer and how safe and easy to use they are.

Click here to read Deposit alternative schemes – too good to be true?.

'What will the Labour Government do for us?' Here's what to says...

With the Election decided, you may find yourself being asked by clients to explain the new Government's housing policies. Kate Faulkner points you in the right direction for information.

Click here to read 'What will the Labour Government do for us?' Here's what to says....

The Ombudsman Files – £15k pay out for letting agent failure

A landlord lodged a complaint with The Property Ombudsman alleging that a letting agent made mistakes at various points from the start. Ombudsman Rebecca Marsh decides the case.

Click here to read The Ombudsman Files – £15k pay out for letting agent failure.