Regional round-up
I was delighted to see so many delegates from the East of England at the recent NAEA Propertymark National Conference. There were so many ‘take-homes’ and things to consider. That said, arguably the most significant and over-arching advice came from Paul McGee ‘secure your own oxygen mask before helping others’. The notion of ‘breathing oxygen’ is offered by Propertymark in so many ways, including the Propertymark Inspire development programme for PPD’s, training courses, qualifications, conferences, workshops, and not forgetting the free Health and Wellbeing helpline which is ably supported by The Arbon Trust.
Average house prices in the East of England at the start of the 2020 sit at around £298,000. Prices don’t feel to have moved for a while, but a glance back shows we started the 2010’s at £198,000 and the 2000s at just £84,000. Transaction numbers are the challenge.
In the 2000 to 2008 period the East Anglia market transacted between 9,000 and 14,000 each month, occasionally breaching the 15,000 mark. Since 2016, it ranged from 7,000 to, very occasionally, just over 10,000 per month. No wonder agents in the East have been smart, are embracing technology and being innovative in attracting new business.
This year the job is set to become more technical, as we are encouraged to handle the title deeds, resultant Consumer Protection from Unfair Trading Regulations (CPRs) and embracing the new Sales Protocol Toolkit to improve transaction speeds and fall through rates. I believe Propertymark agents with their direct access to top training and resources will be best placed to take advantage of the market and the opportunities it presents.
The Regulation of Property Agents (RoPA) presents another massive opportunity. Getting everyone up to Level 3 standard and PPDs up to Level 4 now will make a massive difference to every Propertymark agent when compared with the unaccredited and unqualified competition in your location. It will also help you to be RoPA ready, while the competition is distracted trying to get qualified close to the deadline when it comes.