About us

Go to any agents website and you will find an 'about us' section, except ours. Although this is not true for the property portals as a little something 'about us' is on the home page. But why bother? Are we assuming that this content actually gets read by some one? Well I guess it's better than having nothing isn't it?

I'm not so sure. So, this week I've been having a close look at our competitors, plus a load of agents in neighbouring markets that we are penetrating into. What I have found will save you time so far as to say you will never have to read the 'about us' section of any agent at all, ever again. (Assuming you read them in the first place).

When a company decides to write the 'about us' section, there is no doubt that they absolutely mean what they say. All of it is true and it reflects what that company wants to say about itself. But, and here's the crux, they are all saying the same thing. After a while it gets rather boring. Why not big yourself up? Well, why not. You have a service and you want to promote it.

We all offer the same service, but its how you offer it. We all say the same thing, we all claim to do the same job, so if that's the case, how do you really choose who to place your business with?
I think you have to phone a few agents, sound them out, see if you like whom you are talking to and feel some confidence with that agent. Don't be afraid to dig down and really question an agent about the market and your property.

What you are looking for is a candid and honest appraisal. Beware the agent that overprices and appeals to your pocket, also in this market be mindful of the agent that tells you what you want to hear and offers you a bargain basement commission.

But most importantly, more than anything, more than paying 8% plus for finding you a great tenant......MAKE SURE YOUR AGENT IS A MEMBER OF THE NAEA OR ARLA AND THE OFT, That way you can guarantee the agent you choose will do what it says on the tin.

It's March madness at 1stavenue.co.uk this month. After a very successful January sale we have in conjunction with a plethora of landlords got some big rent reductions available.

1stavenue.co.uk is noted for our forward thinking approach to estate agency. Dusting off the cobwebs of the traditional, we show how things are done in the 21st century.

If you're a landlord, hop on board. If your a tenant come and grab some amazing bargains this March that could well save you in excess of £1200 in a year! Mortgage holders are benefiting for cheaper rates, why shouldn't you?!

Call the office on 020 8852 9444 for more details! C'mon...what are you waiting for?!

Customer Service

With the recession now seemingly in full swing with both small and big business feeling the pinch, the fight for consumer attention has never been greater you might argue. But if that IS in fact the case it's not filtering down from the board room to the troops on the front line.

I'm a big believer in good, solid customer care. I ask it of my staff and I also expect to receive it when I intend to part with my money. If I'm not getting the service I want, what do I do? Walk out? (Well I should). Mutter under my breath? (the usual). Buy it anyway, but resolve not to return? (Bingo)!

The UK consumer is more likely to vote with it's feet rather than complain, because why? What good is it going to do? It's not a pessimistic approach, experience tells us this. Whilst getting something off your chest can feel good it normally leads to a greater level of confrontation from badly trained managers plus you look like an idiot complaining in public places when everyone is looking at you.

I've come off the point a little. The point is; business - big or small needs to make sure the consumer is being looked after. Employees need to understand that this is critical to success, so as to protect the company they work for and to also protect their employment.

I don't care if all I'm buying a Whopper Meal. I want it quickly, I want it hot and I want it with a smile, some eye contact and a genuine thank you. Too much to ask? Maybe for big faceless corporations but for us smaller businesses where the MD spends a lot of time working in the business the 'wow service' ethos can be past along, corrected and maintained daily (and you can see the difference), the rest of boardroom, if they want my business at least, need to go 'back to the floor'.

1stavenue.co.uk January Sale

We are taking a new path through December and January.  In the past we have run successful campaigns giving away free iPods.  This year we wanted to do something different.  So looking at the current market trends we decided it would be a good idea to match landlords to prospective tenants quickly avoiding void periods over Christmas and the new year.

So the very first January Sale in estate agency has been created to help things along.  Our landlords are happy because they are telling us they would rather have some one in sooner rather than later and our prospective tenants are happy because they can save big by signing a contract in the next 6 to 7 weeks.

Great news on both side you would have to agree!

The things estate agents say.

I collect estate agents flyer's. It tells me who's doing what and where, and I've been collecting them for the last 3 years. I have hundreds. Some I like, they are well written and others are so bad its hard not to laugh.

Some are great quality but don't really say anything, others are just down right dower, lacking in imagination with the worst of them littered with spelling mistakes and bad grammar. But what they all have in common is that they are asking for your business.

Naturally what my competitors are doing is of great interest to me. As Sun Tzu said "In order to defeat your enemy, first you must know them". Well a flyer can tell you a lot about the company asking for your business. It may say more to me as I'm inside the industry, but to an unsuspecting owner or landlord the flyer's are tailored to effect a response. Either 1) Getting a call or 2) The bin. (The latter preferred).

So lets have a look at some agency jargon and what it actually means;

Apologies for this unannounced mail shot...

I'm not really apologising for this mail shot.

We have let a substantial number of apartments in this development...

We may have rented one or two here or there, but we want more property.

Do you want to sell or rent your property within 10 days?..

Well, we'll give it a go. But if we don't, we'll find some excuses as to why we didn't do it.

25% reduction on fees. £200 reward on completion...

We are desparate!

5% full management to you our landlord...

We're cheap. So is our service.

Due to client demand we now need your property...

If we have your property, we have a chance of selling it, or renting it.

Mr M is looking for a property in your road...

There is no Mr M. But it gets a foot in the door.

We have over 20 years of experience...

Let me quickly count up how many staff I have and how long they've been here.


The above isnt always the case, but what has worked when it is true will work when it isn't. This is an area that I don't struggle with, because I won't do these types of flyers or make these statements as I hate this kind of speak. Anything the others do, I will do something else. Or nothing, well not nothing, but we look after the people we do business with and concentrate on doing the basics brilliantly. 90% of our landlords come via recommendations, so we dont need to talk a load of nonesense to make our point. We all ready made it.

Energy Performance Certificates

Honestly, what a waste of money! Well it is and it isn't. It is if you're paying a small price for one, but like anything, you pay for what you get.

To set the scene, all you need if you want to become an energy assessor is; zero experience in property and about £2k for the course. After which you sit a test and hey presto! With a shake of the hand and a shiny new certificate you are now certified to do EPC's.

We have been through 3 assessors so far and we are only 1 month in to needing them for rental properties. Why so many? Well, I was unhappy with the results with two of them and just knew they were wrong. The 3rd chap it turned out (I hadn't met) but didn't turn up as agreed and then called to say it was his birthday and wasn't coming!!

So we are now onto our 4th assessors and I'm happy. Whats important is that your assessor knows property and understands how new build is constructed and what NHBC category it complies to. So a surveyor is really the best option. My point here is that I was valuing a property last week for rental when the EPC assessor turned up (not my recommendation) in a battered leather jacket and looking like he had been dragged through a hedge backwards. He had no idea how to draw the floor plan in order to get the correct square footage and knew nothing about the Combined Heat and Power system. The up shot was yet another incorrect certificate.

What is important here, is that the EPC is valid for 10 years. Most tenants don't even know that one is required, but soon they will be savvy about the EPC and will demand to see how efficient a property is. When this happens, if your property is very efficient but your EPC has been poorly carried out your property will sit on the market because the cost of heating and lighting will be perceived as too expensive.

A good EPC will start from £79 for a one bedroomed apartment, rising to £140 for a 3 bedroomed house. My advice is don't skimp on a few quid for a small saving as it will give you a big loss in the years to come.

Repossessions up 71%. The mortgage lenders are squarely to blame

I'm so angry! This blog is likely to be more of a rant than seasoned piece of editorial. I'm not going to start quoting figures other than 71%. 71%?!

The number of homes that were repossessed during the three months to the end of June have soared by 71% compared with a year earlier. The Financial Services Authority said 11,054 homes were repossessed in the three months to the end of June, compared with just 6,476 during the same three months of 2007. Okay, just a few more figures to set the scene.

This number is growing, and I can tell you whom is to blame. Not the mortgagee that's for sure. There are some people out there that manage their money badly and as such they fall behind with the repayments they should never, ever default on.

We are talking about good, honest, hardworking people whom own their own homes, and a considerable amount 'buy to let' investors that are now deeply in debt to the mortgage lenders because their fixed rate mortgage has come to an end and now find themselves on a ridiculous rate of interest, with the mortgage lenders refusing to listen to sense and re-negotiate a deal that works for both them and the mortgagee. Landlords that were servicing their mortgage with the rent, or maybe topping up a little have been slapped with additional payments of anywhere between £400 and £800 a month on top of what they were paying before. The bank of England has dropped rates again, but the lenders refuse to pass it on, Northern Rock being the worse culprit and they are state owned!!

Are mortgagee's going to keep up? How can they? And re-mortgaging to another lender is out of the question as property prices have dropped and there isn't enough equity there. So home owners and 'buy to let' investors are faced with only one option. An option they don't want. Repossession.

Why are the mortgage lenders taking this approach baring in mind that the sales market is practically dead? How to they intend to recover their liability when banks wont lend new money at a good rate unless you have at least 20%? The repossessed property isn't going to sell in this market unless you are giving it away. So the loss would appear to be greater for the lender than having them re-negotiate a new deal. So, whats best? Retain a property and more importantly a steady monthly income from the mortgagee at an acceptable interest rate? or go for repossession, have the property sitting empty because it wont sell or will sell but for less than the mortgage liability?

Retain the property and mortgagee of course. So the question again. Why are the banks repossessing? My thinking is that they have posted their losses to the City and Shareholders and have written the liability off. Therefore, what does it matter. If I am right it's a tragedy, else the mortgagee's are dealing with staff in call centres whom are more interested in what they are having for lunch than actually questioning why the computer say no......