So how do we sum up the year?
It hasn't been easy but for me at least it could have been a lot worse.
My biggest issue at present is a lack of stock to sell or let because quite a lot has shifted this last few months albeit at not very exciting prices or rents.
Landlords and sellers have increasingly adopted much more realistic aspirations on the basis that things are unlikely to get better. If there is a hit to be taken its better to take it now rather than possibly take a bigger hit in a few months time.
I am afraid I do not see an improvement in the market for 2012. It will be much more of the same.
I think there is still a general lack of confidence around fueled by higher than acceptable inflation which affects consumers and businesses, rising unemployment particularly amongst youngsters, the Eurozone crisis, banks who are still not lending and a host of other reasons.
In the scheme of things I consider myself quite fortunate. Chris Rowlands & Co. is a one man business which I run from home. My overheads are minimal and I am lucky to have a number of long standing and loyal clients.
I look forward to next year with some optimism tinged with a dose of realism.
I hope 2012 is good for whoever might be reading this.
Best Wishes to one and all for Christmas 2011.
Chris
Wednesday, 14 December 2011
Monday, 13 June 2011
When does an agent earn a fee?
I do not expect any sympathy here because everyone thinks that property agents earn money for old rope.
I can assure all readers that this is not the case.
Of course some jobs are easier than others. Some deals are concluded quickly and others take a bit longer.
Agents usually work as sole agents where they are the only one instructed or joint agents if another agent or agents are appointed as well.
Entitlement to fees depends on whether the agent or agents have sole selling rights or joint selling rights and this should be specified in the contract between the owner and the agents.
But what about where an owner decides to do the job himself, even after appointing his agent?
That is of course his prerogative but if the agent has sole or joint selling rights then the owner is liable to pay the fee in any event.
Think about it! The agent puts all the front end work into advising on value, marketing, advertising, fielding enquiries, conducting viewings etc and the owner says, well thanks very much but someone has approached me direct so I will do a deal with them.
That is not the agents fault and they should not be penalised by having the opportunity to do the deal taken away from them. Most clients understand this and refer the enquiry back to the agent in any event. They acknowledge that the fee is due even if they conduct the negotiations themselves.
Unfortunately a minority of clients do not understand this. They don't see why they should pay in these circumstances.
As an agent I have learned the hard way that a contract between owner and agent is not only a legal requirement but it is necessary for avoiding these disputes. Relying on old friends or previous arrangements is no help when such issues arise.
Despite being in the business for many years I have had my fingers burned recently on a couple of occasions by not having the agreement in writing. "More fool me" you may think and you may be right. However, as an owner/agent relationship requires trust, I will not act for a client who breaks that trust.
So please don't be offended if I ask you to sign Terms of Agency. It is there to avoid problems, not create them.
My objective is the same as yours. Sell or let your building so that you can derive the capital or the income and I can derive the fee.
There is no point working for nothing.
I can assure all readers that this is not the case.
Of course some jobs are easier than others. Some deals are concluded quickly and others take a bit longer.
Agents usually work as sole agents where they are the only one instructed or joint agents if another agent or agents are appointed as well.
Entitlement to fees depends on whether the agent or agents have sole selling rights or joint selling rights and this should be specified in the contract between the owner and the agents.
But what about where an owner decides to do the job himself, even after appointing his agent?
That is of course his prerogative but if the agent has sole or joint selling rights then the owner is liable to pay the fee in any event.
Think about it! The agent puts all the front end work into advising on value, marketing, advertising, fielding enquiries, conducting viewings etc and the owner says, well thanks very much but someone has approached me direct so I will do a deal with them.
That is not the agents fault and they should not be penalised by having the opportunity to do the deal taken away from them. Most clients understand this and refer the enquiry back to the agent in any event. They acknowledge that the fee is due even if they conduct the negotiations themselves.
Unfortunately a minority of clients do not understand this. They don't see why they should pay in these circumstances.
As an agent I have learned the hard way that a contract between owner and agent is not only a legal requirement but it is necessary for avoiding these disputes. Relying on old friends or previous arrangements is no help when such issues arise.
Despite being in the business for many years I have had my fingers burned recently on a couple of occasions by not having the agreement in writing. "More fool me" you may think and you may be right. However, as an owner/agent relationship requires trust, I will not act for a client who breaks that trust.
So please don't be offended if I ask you to sign Terms of Agency. It is there to avoid problems, not create them.
My objective is the same as yours. Sell or let your building so that you can derive the capital or the income and I can derive the fee.
There is no point working for nothing.
Friday, 19 November 2010
State of the Market
People regularly ask me how things are.
Is property moving, is it selling or letting?
The answer very much depends on what day or week I am asked because there seems to be no real pattern.
In fact the general trend is that commercial and industrial property, which is what I deal with mostly, is moving albeit slowly and at reduced rents and prices.
Most landlords and owners are anxious to secure agreement and are becoming increasingly flexible about what they will accept.
On the other hand there are still lots of people looking for premises who simply never make a decision. This is the most frustrating part of the job at present but I suppose it goes with the territory.
The good news is that I have achieved a few lettings and sales completions over the past couple of months. Admittedly some of them were agreed in the summer and they have taken a long time to come to fruition but that is far better than no completions.
It would be nice to think that the next six weeks or so are going to be active and fruitful because inevitably business will go quiet again by mid December as the pre-Christmas party frenzy starts.
By the way, my office address has changed to 1 Rosemead, Ingbirchworth, Penistone, Sheffield, S36 7GQ.
For the time being the phone numbers are the same as always but they will change in early December.
Chris
Is property moving, is it selling or letting?
The answer very much depends on what day or week I am asked because there seems to be no real pattern.
In fact the general trend is that commercial and industrial property, which is what I deal with mostly, is moving albeit slowly and at reduced rents and prices.
Most landlords and owners are anxious to secure agreement and are becoming increasingly flexible about what they will accept.
On the other hand there are still lots of people looking for premises who simply never make a decision. This is the most frustrating part of the job at present but I suppose it goes with the territory.
The good news is that I have achieved a few lettings and sales completions over the past couple of months. Admittedly some of them were agreed in the summer and they have taken a long time to come to fruition but that is far better than no completions.
It would be nice to think that the next six weeks or so are going to be active and fruitful because inevitably business will go quiet again by mid December as the pre-Christmas party frenzy starts.
By the way, my office address has changed to 1 Rosemead, Ingbirchworth, Penistone, Sheffield, S36 7GQ.
For the time being the phone numbers are the same as always but they will change in early December.
Chris
Wednesday, 9 June 2010
Excuses, excuses
I am finding at present that it is easier for people to NOT make a decision rather than to make a decision that may prove to be wrong or costly or both.
I receive plenty of enquiries about buildings for sale or to let and I conduct lots of viewings but often then do not hear again from the people that I have met.
Of course it could be personal and they just don't like me or they might not like the building or the deal that is available.
To try and find out I make a point of following up these contacts and often learn that their business is not ready to make the commitment that is necessary. This applies particularly to new start ups and small businesses but increasingly larger businesses have their hands tied which prevent business expansion or progression.
Understandably there are all sorts of reasons or excuses for not moving premises including lack of money, political uncertainty, holidays, bank pressure, etc.
I suspect the World Cup will now be a good reason for the next six weeks for continuing inertia and then of course the new Coalition Government's proposed austerity measures will do nothing to improve the situation.
So what do we do?
All I can say is to just do what is right for you. I don't blame anyone for NOT making a decision because making the wrong decision is probably worse.
Eventually the market will come back into equilibrium and deals will get done.
Until then we've got the World Cup, Wimbledon, The Ashes. All we need is for the sun to shine and everything will be alright.
Chris
I receive plenty of enquiries about buildings for sale or to let and I conduct lots of viewings but often then do not hear again from the people that I have met.
Of course it could be personal and they just don't like me or they might not like the building or the deal that is available.
To try and find out I make a point of following up these contacts and often learn that their business is not ready to make the commitment that is necessary. This applies particularly to new start ups and small businesses but increasingly larger businesses have their hands tied which prevent business expansion or progression.
Understandably there are all sorts of reasons or excuses for not moving premises including lack of money, political uncertainty, holidays, bank pressure, etc.
I suspect the World Cup will now be a good reason for the next six weeks for continuing inertia and then of course the new Coalition Government's proposed austerity measures will do nothing to improve the situation.
So what do we do?
All I can say is to just do what is right for you. I don't blame anyone for NOT making a decision because making the wrong decision is probably worse.
Eventually the market will come back into equilibrium and deals will get done.
Until then we've got the World Cup, Wimbledon, The Ashes. All we need is for the sun to shine and everything will be alright.
Chris
Tuesday, 13 April 2010
Property and People
In my experience property is fairly simple, its people who make it complicated.
My aim as an agent or advisor is to try and find the line of least resistance so that the deal can get done.
Give me a call if there is something on this web site that interests you.
Chris
My aim as an agent or advisor is to try and find the line of least resistance so that the deal can get done.
Give me a call if there is something on this web site that interests you.
Chris
Sunday, 21 February 2010
More of everything
Since the snowy first week of January when nothing of any consequence happened at all I have definitely seen an increase in new instructions, an increase in enquiries and most gratifying of all, an increase in deals being done.
I am not about to predict that everything in the garden is rosy because I believe that 2010 will be very challenging, but I do think there are signs of improvement in the market, which I, for one, am grateful for.
I am not about to predict that everything in the garden is rosy because I believe that 2010 will be very challenging, but I do think there are signs of improvement in the market, which I, for one, am grateful for.
Tuesday, 5 January 2010
"Snow" use grumbling
Christmas is over and the New Year has started. The snow is falling making travel difficult although it is lovely to look at from my office window which overlooks open countryside.
The political parties have started the phony war leading up to the eventual election although I am not convinced that any of them really know how to sort out the current mess.
There is no doubt in my mind that the downturn is worse than those that I have experienced previously. Even the Miners Strike which affected South Yorkshire particularly badly in the 1980's didn't seem quite as bad as this.
In the meantime we all have to earn a living and in my case it is trying to do the best I can for my clients with property.
I am hopeful that we can work through the difficulties. Whilst it sometimes feels like three steps forward and two back I suspect that this is the way it will be for some time to come.
Deals are still being done. I have had a couple of good successes recently which buck the general trend and this offers hope going forward into the New Year.
May I wish all readers a Happy New Year and the best of luck for 2010.
Chris
The political parties have started the phony war leading up to the eventual election although I am not convinced that any of them really know how to sort out the current mess.
There is no doubt in my mind that the downturn is worse than those that I have experienced previously. Even the Miners Strike which affected South Yorkshire particularly badly in the 1980's didn't seem quite as bad as this.
In the meantime we all have to earn a living and in my case it is trying to do the best I can for my clients with property.
I am hopeful that we can work through the difficulties. Whilst it sometimes feels like three steps forward and two back I suspect that this is the way it will be for some time to come.
Deals are still being done. I have had a couple of good successes recently which buck the general trend and this offers hope going forward into the New Year.
May I wish all readers a Happy New Year and the best of luck for 2010.
Chris
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