A Challenge to Estate Agents to Improve The Housing Market in the UK

A CHALLENGE TO ESTATE AGENTS TO IMPROVE THE HOUSING MARKET IN THE UK

We all deserve a better housing market in which to find and purchase houses and flats for ourselves so I now challenge all estate agents and the landed professions to a full debate on the merits of my prescribed solution to the present and unacceptable house-price crisis, as well as to discuss the pressing need to correct the insufficient number of houses currently being purchased for owner occupation.

“There’s currently NO genuine competition between sellers who employ their own agents, as happens at present. I propose that instead, estate agents should be working for buyers in a similar way to travel agents and sales of tickets in the airline industry.” Travel agents help travellers to find the best value holidays for their chosen destinations.  This is what should also be happening with housing.

House prices themselves should find a level based on real competition. For this to happen, housing should be priced in a similar way to the methods used in the travel industry.

Fair competition should be introduced into our housing markets so as to achieve best throughput in the market, whilst maintaining price stability by using The House Price Solution.

The proposition:
Here is the essence of what I am saying by using this method.

It involves a complete and permanent change in the way estate agents deal with residential house sales.

As far as residential sales are concerned, to use this solution, only Registered House Agents (RHAs), would be licensed to deal with residential sales & purchases. The key difference is, this would involve a new type of agent which would always be acting for the purchaser rather than the vendor.

Existing Estate agents could continue to offer both sales and management services to all their existing clients except on residential or part residential property sales. In other words, sales of all types of property other than residential property may be dealt with in exactly the same way as before by existing estate agents.

Only Registered House Agents (RHAs), would be licensed to act in dealing with the sale and purchase of residential property. They would also be licensed to manage such property.

Those licensed to act in such matters would be expected to have passed a new qualification prior to obtaining a license to carry out this type of business.

You may ask in this case, would anyone else be allowed to act on behalf of those wishing to buy or sell residential property?

The answer is no. Market forces will be harnessed to act both for sellers as well as buyers by using different and competing Registered House Agents, tasked with the work of obtaining for their clients, the best combined buy and sell prices in the market whenever moving house.

Competition would be achieved because the selling process would normally be done using a separate and competing RHA in every case.

Whereas selling residential property may only be carried out by Registered House Agents (RHAs), existing buying agents may continue to operate as normal by negotiating terms of sale as they do at present. The difference for them would be that they would be dealing with Registered House Agents rather than with estate agents.

This unique plan is designed to eliminate the exaggerated house prices which are being quoted and are seriously damaging our housing markets.

By stabilising prices in this way many more people would be able to transit between properties, as and when they may need to.

Your thoughts are welcomed on this new idea for smoothing rising house prices whilst helping to stabilise the capital values of privately owned residential property as part of this process.

For all the details about how to improve housing affordability and sales throughput swiftly and economically, please follow the link below:

The House Price Solution

How to Improve all local housing markets in England and Wales

Posted by: Peter Hendry, Housing Valuation Consultant
Author of:– The House Price Solution otherwise known as The Hendry Solution.

What do you think about this idea for drastically improving the operation of all housing markets in Britain?

Constructive comments are very much welcomed.

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The Politics of Housing

The Politics of Housing is necessarily societal. In other words you can’t divorce housing from politics.

When canvassing for the Brexit vote in 2019 and accepting becoming our Prime Minister in July 2019, Boris Johnson promised that his government would be a government inclusive for all in society, having won the popular vote on that basis.

Whatever political view an individual may wish to take, it would appear that there are three institutions that should be held as being at the very crest of present day society. These are The Judiciary, The NHS and The Town and Country Planning Acts.

Whenever setting out to make new policy for the benefit of Britain’s populace, these three established pillars of fairness should always be fully considered beforehand.

Tough love, directed towards some parts of society, may be necessary for further improvement but it would, by its own definition, have to be based on love and nurture, not prejudice.

However even so, the noblest of decisions, taken in the quest to improve the lot of the many may occasionally fail, especially where housing is concerned.

What follows is a set of proposals specifically designed to resolve our present housing distribution problems.

FIRSTLY: Before designing a new Town & Country Planning system for the whole of Britain, it would be a pretty good idea to get a clear picture of what would make each local community thrive, and then incorporate precisely that into the new model.

To date we have seen little evidence of such an approach and practically no justification for the arbitrary zoning designations which are being proposed in the Planning White Paper currently being debated in Parliament. This does therefore deserve much further consideration.

The clear and over-riding objective must surely be for ordinary working people to be able to find openings for good new jobs close to where they may live.

This must mean the forward plan must involve a proper debate with business leaders to start searching for and employing more-skilled people, including training them up and paying them substantially more whilst expecting more productivity/profitability from them in return.

The resultant gain to industry could be achieved from increasing the incentive amongst school leavers and university graduates alike to decide on a higher-skilled career for themselves, earlier, and then to train more intensively for that.

Those youngsters who do not choose to follow this path would be likely to have to accept whatever unskilled jobs there may be at low wages (and with little or no prospects), of course.

This is, in effect, increasing the requirement on job seekers to decide what they would like to do earlier and to embark on getting the best training and qualifications they need for their choices of career.

Other successful economies have already achieved such outcomes and because this has been done elsewhere it could certainly be done in Britain if the incentives were provided.

One organisation, KPMG (the accountancy conglomerate) is already in the news for helping in the battle for greater diversity among types of job especially within the poorer communities by offering apprenticeships. It wants nearly a third of their staff to be coming from working class backgrounds by 2030. Enabling diversity of perspective, fresh thinking, and wide-ranging insight should help all businesses to perform.

Those from routine maintenance and service organisations may apply. Levels of pay and prospects in life really matter to employees but so does aspiration. Van drivers, butchers and factory workers should be among those applying for schemes such as these if they should wish to do so.

Equally important however is the house price crisis.

To find out all about everything to do with the extreme lack of adequate and available housing on the market and how to deal with the non-affordability of it, see below.

For all the details about how to improve housing affordability and sales throughput swiftly and economically, please follow the link below:

The House Price Solution

How to Improve all local housing markets in England and Wales

Posted by: Peter Hendry, Housing Valuation Consultant
Author of:– The House Price Solution otherwise known as The Hendry Solution.

What do you think about this idea for drastically improving the operation of all housing markets in Britain?

Constructive comments are very much welcomed.