I’m not aware of any big redundancies in the estate agency sector (I’m not in Ireland right now so forgive me if I missed anything). But we know for sure that there must be sod all to do in the office.
The same way recruitment agents do…they’re sitting there trying to look busy. There isn’t really enough to do for even half the office, so it’s just a matter of time before the chop comes. It looks like it will happen piecemeal though. We’re always waiting for Black Mon/Friday, but for most it comes quietly.
Some of them have already been let go. The big chains have closed a few branches and let a few people go from others.
I know someone working in one of the big chains in Limerick, apparently quite a few have been let go in his office and no one is being replaced if they leave. Headcount is well down on 2 years ago.
The End is always written in small letters.
I pass my time reading the 'pin.
On a 3 day week now*, so surfing the net whilst in the office and gymming when outside of it
In all honesty, its not as bad as it sounds.
I could get used to this very easily.
Was thinking of changing career recently, but this has renewed my appreciation for the job.
*Lisneys arn’t the only EA to resort to a 3 day week.
my thoughts :
Well some are out there doing lettings.
or they’re ringing round the clients telling them it’s 2009 here’s what you’ll need to do to sell now in January
And here’s what you’ll need to do in June 2009 to sell. Show them the big difference.
EAs may be able to start shifting stock if they scare enough people with the above.
However if the clients don’t want to sell at a price that’ll shift what’s that tell you about the persuasive powers/trust factor of the EA ?
I think it still reflects on the sellers - nothing to do with trust/persuasive powers of EA’s. The EA can only advise and as we well know people will only see what they want to.
Seriously - do you think the likes of Mr_A would be on a 3 day week if he could talk sense onto sellers?
Why don’t EA’s sack their customers instead of sacking (or partially sacking) their staff??
The effort required to sell a house or apartment has not decreased by 40% like your working hours, if anything it has increased.
Anything sitting on your books for more than three months with no serious offer - ring the vendor and tell them to drop the asking by 20%, or fuck off !! No new property to be listed at more than 10% over the last similar achieved selling price, if they don’t like it - fuck off!!
If all EAs adopted this attidude, we would have an entirely functioning property market again within a year.
The vendors are EA’s biggest enemies as long as the property market remains irrational, not their friends… You don’t want to be a retailer when the dogs on the street think that the only product you stock is totally overpriced and run a mile from it.
You’d be having strong words with the wholesaler/supplier.
i know two agents in town that have family back working in their offices, the staff from the last few years are gone so it’s hard to even know if anyone is getting paid.
The effort required to sell a house or apartment has not decreased by 40% like your working hours, if anything it has increased
Efforts have increased, but viewings have collapsed … hence less viewings = more time to spare. Incidentially, whilst you spend longer trying to persuade a vendor to reduce their asking price its nothing compared to the amount of spare time caused by no viewings.
Also, there is additional spare time as new stock has been slow to come on due to fear.
Anything sitting on your books for more than three months with no serious offer - ring the vendor and tell them to drop the asking by 20%, or fuck off !!
No way ! thats insane ! I never thought of that … Im in the presence of genius
Or you can reduce the price by 10% after 1 month … and again by 10% after another month … and again after another month.
In the event that it still hasnt sold and they refuse to reduce it further you would tell them to fuck off ?
Can any someone out there please advise why this is the wrong thing to do (hint: the answer is in the next paragraph) ?
No new property to be listed at more than 10% over the last similar achieved selling price, if they don’t like it - fuck off
So another EA gets it … and a few months later the vendor cops on and reduces the price.
Result - the other EA gets the commission, you dont.
Incidentially, I advise all new clients to price at 10% below the lowest comparible property.
Can I hazard a guess and say you have never been self-employed ?
Mr Anderson … if I were you I would be spending less of that free time making dispariging remarks about other posters and be putting more of your extra free time to brushing up on some basic principles of commerce and economics
TAOISEACH Brian Cowen was last night urged to take immediate action to salvage the economy after it emerged the Government will have to borrow €45m a day this year to balance the books.
Public debt to GDP ratio will double this year to around the 60% mark
Thanks Mr. A for the refreshing candour.
A lot of people are using the bee to track all changes and also it’s worth watching to see the online updating … for example a lot of D14->D16 postcode flipping in certain areas to keep the Ad recently updated … since we can see all changes via the bee it’s very obvious.
perhaps we might see IAVI sponsoring some “How to Sell your House Fast” seminars
Mr A, you should be spending at least 80% of your time getting your vendors to reduce their prices imho. This should be mandated by your management like sales targets. Those two days a week you are not working would be far better spent hectoring your vendors to reduce their asking prices, if your employers had a brain in their heads.
You need to go from 20% vendor mgt/80% punter mgt to the other way round. Ye were all well able to spoof prospective purchasers with fake bidders on the way up, I’m sure the industry could apply similar innovation to prospective sellers on the way down. You’re the market maker FFS !!!
You’re like a greengrocer who’s selling apples for a tenner each, wondering why you’re not selling many apples & why you’re down to a 3 day week.
Yes there might have been a few idiots buying apples for a tenner before, but not anymore !!!
You’ve been waiting for a long time to use this
However, I stick by what I said !
Kept I believe is past tense.
When the general hoi polloi were lashing out on new plasmas and cars … the government set up the national pension reserve fund - i.e. they saved.
I could also mention the SSIAs as a means of the government trying to entice people away from blowing money and save instead.
Private debt:GDP rocketed upwards
Prior to to 2008, Public debt:GDP plummetted.
The government took care of its finances better than the population !
And still is … even with €20Bn to be borrowed !
I dont think you realise how massively tanked up other governments are.
Furthermore, a lot of foreign governments (e.g. UK & France) use ‘soft’ accountacy methods of calculating their balance sheets, thus underestimating their debt:GDP levels.
Individuals f*cked up their own.
Lets just hope the government doesnt follow their example.
You vote FF don’t you Mr A. Tell me what has happened the NPRF?
Been implemented since day one.
Even in the boom times.
Its always been 100% vendor management.
Property sells itself (so long as it is priced correctly).
Even in the boom times we had price reductions after the 4th viewing (1 month) if there was no bid forthcoming.
Ive never worked on a fake bid - never had to.
Market is bidding 100 with vendors offering 110.
Even with all the persuasion in the world, some vendors wont drop (so far).
Correction, Im a greengrocer selling *someone elses *apples knowing full well why Im down to 3 a week.
Dont get me wrong, Im still getting some properties away.
Once the vendors reduce their price by c40% from 2006 levels, it hits the (current) market price and sells.
Also, whilst I may be out of the office 2 days a week, my phone is always on !
Voted FG last time out (even though I cant stand Enda).
2 things have happened to the NPRF:
It has fallen in value due to the stock market falls.
It has been used to bail out the banks.
And whilst I despise point 2 as I believe the recipients should be allowed go to the wall, on the plus side, at least we have a NPRF to bail out the banks and dont need to borrow even more like so many other countries.