Monthly Archives: March 2019

PDQ ESTATES LTD HAS CEASED TRADING

2018 sees my 30th year of estate agency and my 18th as PDQ Estates Ltd. I had always planned and hoped to pass on the baton of my business to a new person who shares my passions for customer service, honesty and integrity, who would be able to continue the reputation I’ve built and drive it forward in their own way. Unfortunately, whilst there is an outstanding person who fits that description, events have meant that they are unable to commit at present and so, sadly, that is not to be.

Whilst I will continue to look after my clients who have accepted offers subject to contract, on their homes, through to completion I am recommending that all of my remaining and any new customers contact Theresa James at PRH in Penzance, one of the few agents I hold in the highest respect in the area and who I have known since school as an honest hard worker and excellent agent.

As with any major decision, there are a multitude of reasons behind this one. My other business, Ocean3D, has been doing rather well of late and is likely to take up more of my time with, hopefully, some major contracts in the pipeline and I do not feel that it is fair to my current or new customers to reduce my focus on them for my own gain. I also want to spend some time working with the charity that helped me and hundreds of service personnel affected by operations like me, Turn To Starboard

Additionally, I have made no secret of my depression and PTSD, and estate agency is possibly one of the least conducive careers for anyone who needs a relatively stable, lower stress form of employment. The current market conditions and thirty years of fighting with lazy solicitors, ‘computer says no’ call-centre lenders, over-zealous surveyors, incompetent estate agents in chains and a small, but significant, number of buyers and sellers who believe they can lie through their teeth or change their minds with impunity despite causing incredible distress and cost to everyone around them have taken their toll. My family and friends have been urging me to get off the roller coaster for some considerable time and it is high time I acted on their wise and well-meaning advice.

A HUGE thank you to my colleagues over the years, with very few exceptions, you have been great to work with, hard-working, incredibly loyal and incredibly tolerant. We shared good and bad times and it was great to know you all.

I would also like to thank all my customers who have invited me into their homes, trusted me with what is usually their largest asset, more importantly, their family home and gone on to recommend me to so many other people. Thanks also go to the many buyers of my clients’ homes who have been such a joy to meet and share a few weeks or months of trials and tribulations with as they move home and, despite having negotiated hard with, have still gone on to recommend me and my colleagues to others. It has been a privilege and an honour to have been able to work for you at what is often one of lifes’ most stressful times.

I have also worked with some superb lawyers, surveyors, mortgage advisors, mining and structural engineers, surveyors, estate agents, journalists and many other service suppliers who have put up with my unconventional approach, ‘humour’, been excellent at their jobs, occasionally sought my views and opinions and, many of whom I regard as close friends. Thank you, ladies and gentlemen, it’s been a privilege and an honour.

Whilst PDQ Estates Ltd is ceasing trading, as an individual, I am not going away from the property industry entirely. Most of my 30 years in agency has been spent both within the NAEA/ NFoPP and without, working for a change in the way we convey property in England and Wales and the enforcement of laws designed to protect consumers and law-abiding agents. I’ve racked up a few small successes in that time, but there is more to do and some big fish to fry!

Thank you

Chris Wood CertREA, CPEA (i,ii)

Director

PDQ Estates Ltd

What is going on in Cornwalls’ housing market?

sales volumes CornwallAccording to the latest data from HM Land Registry and the ONS, the numbers of homes selling continues to fall (12% down October 2016 to October 2018) whilst selling prices have stabilised/ risen modestly at around 1.7 percentage points above annual inflation (to the end of 2018).

Nationally, there is a great deal of talk and circumstantial evidence that the numbers of properties coming to the market are also continuing to fall and, that selling prices are beginning to level off. There are many discussions by industry experts and suppliers that buyers are also biding their time as we get closer to Brexit and the political parties appear to be tearing themselves apart. Whatever your view on Brexit (and I am firmly in the pro’ camp) a lack of clear vision and deliverable plan/ timescale by the two main party leaders is almost certainly a factor.

How does this affect you if you are selling?

I do not believe for one second that we are about to enter a market crash (despite what the doomsayers have been saying since well before the 2016 vote) nor do I believe we are likely to see a sudden surge in prices post March the 29th (if it happens). Assuming a Brexit (with or without a deal), I believe there will be a release of pent-up demand and the market will experience a brief surge in both sales and property listings; the latter most likely cancelling out any major price effects of the former.

If you are already up for sale: Whichever agent you are with, talk to them! If they are keeping in touch with you, talking sense and inspire you with confidence in their knowledge and abilities, stick with them; they probably deserve your trust. If you never hear from them, they spin you yarns and you have little confidence in their abilities or experience; now is THE best time to change! Changing to a new agent, who talks honestly, with market insights, can provide hard evidence rather than glossy hype and inspires confidence will deliver results.

For more information on whether you should change agents, read this article 

If you are thinking of selling in the next few weeks: The next few weeks could be a smart time to sell, with little competition from other properties and the potential of a buyer surge after we exit the EU, you may just sell for a little more than you were expecting

Do your research on which agents are right for you and what you want to achieve (a quick sale, the best price, excellent service or a good balance of all of these factors). Despite what folklore or the ‘bloke down the pub’ might have you believe, not all estate agents are the same and there are some excellent ones out there, as well as some seriously dodgy businesses. Ask to see evidence of how they arrived at the price they want to list your home at. Was it based on selling prices of similar properties or, just impressive looking asking prices and a smooth patter? Will they accompany all viewings? Do they passively just list your home on a property portal or, do they actually ring up potential buyers and sell your home (do some secret shopping by posing as a potential buyer).

Did you know that the majority of buyers move just a few miles from their existing home? Having a national/ international presence is important when you employ an agent but, choosing one who uses social media and has an excellent local marketing reputation is, for the majority of properties (but not all) more important.

Chris Wood

Director

02.03.19

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