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E14

AUGUST 2012 ESTATE AGENT MARKET SHARE ANALYSIS


THE E14 ESTATE AGENT MARKET SHARE ANALYSIS IS BROUGHT TO YOU BY:

HIGHLIGHTS FROM THE AUGUST 2012 ANALYSIS INCLUDE:

>>

61 Estate Agents property data analysed across the three major property portals, Rightmove, Zoopla and FindaProperty.com

>>

Over 1,300 individual property details recorded, assessed and compared to provide insight that Estate Agents can use to measure performance

>>

Latest Land Registry Data for July 2012 showed a total of £55,649,283 properties registered giving an average price for E14 of £383,788

>>

Baltimore Wharf had the most number of sales in July 2012. Total sales valued £3,839,963 giving an average price of £426,626

>>

The Top 5 Agents for properties SOLD STC / UNDER OFFER in August 2012 accounted for a whooping 53.9% of the market

All information contained within this Analytical Report remains the property of Agent Metrics. No part can be reproduced without the express written consent of Agent Metrics. Data contained within this report is sourced from Rightmove.co.uk, Zoopla.co.uk and FindaProperty.co.uk and where possible the Estate Agents own website. Where it is believed that data is inaccurate or has been manipulated, this data has been omitted. Should an Estate Agent believe any part of their rankings are not accurate they are invited to contact us and we will happily carry out an audit based on our original data collation and verified data from their systems. Whilst every effort is made to ensure accuracy of data, no responsibility can be accepted for any errors or omissions.


>> CONTENTS << SIMPLY CLICK ON THE CONTENT TITLE OR PAGE NUMBER TO GO DIRECTLY TO THE SECTION

CHIEF ANALYSTS SYNOPSIS

>> Page 5 <<

FOR SALE MARKET SHARE ANALYSIS

>> Pages 6 - 15 <<

5 AGENTS BY TOTAL AND AVERAGE VALUES: >> TOP NEW INSTRUCTIONS AUGUST

>> Page 19 <<

>> TOP 5 AGENTS BY FOR SALE MARKET SHARE

>> Page 6 <<

OTHER AGENTS BY TOTAL VALUES: >> ALL NEW INSTRUCTIONS AUGUST

>> Pages 20 - 21 <<

>> ALL OTHER AGENTS BY FOR SALE MARKET SHARE

>> Pages 7 - 9 <<

OTHER AGENTS BY AVERAGE VALUES: >> ALL NEW INSTRUCTIONS AUGUST

>> Pages 22 - 23 <<

5 AGENTS BY TOTAL AND AVERAGE VALUES: >> TOP FOR SALE INSTRUCTIONS

>> Page 10 <<

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS

>> Page 24 <<

OTHER AGENTS BY TOTAL VALUES: >> ALL FOR SALE INSTRUCTIONS

>> Pages 11 - 12 <<

OTHER AGENTS BY AVAERAGE VALUES: >> ALL FOR SALE INSTRUCTIONS

>> Pages 13 - 14 <<

5 AGENTS BY AUGUST SOLD STC / UNDER >> TOP OFFER PROPERTIES

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS

>> Page 15 <<

>> UNDER OFFER PROPERTIES

>> Page 26 <<

>> Pages 16 - 24 <<

5 AGENTS BY TOTAL AND AVERAGE VALUES: >> TOP AUGUST SOLD STC / UNDER OFFER

>> Page 27 <<

5 AGENTS BY NEW INSTRUCTIONS >> TOP MARKET SHARE

>> Page 16 <<

OTHER AGENTS BY TOTAL VALUES: >> ALL AUGST SOLD STC / UNDER OFFER

>> Pages 28 - 29 <<

OTHER AGENTS BY NEW INSTRUCTIONS >> ALL MARKET SHARE

>> Pages 17 - 18 <<

OTHER AGENTS BY AVERAGE VALUES: >> ALL AUGUST SOLD STC / UNDER OFFER

>> Pages 30 - 31 <<

NEW INSTRUCTIONS MARKET SHARE ANALYSIS

NEW INSTRUCTIONS MARKET SHARE ANALYSIS [[Cont. Cont.] Cont.]

PAGE 3

AUGUST SOLD STC / UNDER OFFER ANALYSIS

ALL OTHER AGENTS BY AUGUST SOLD STC /

>> Pages 16 - 24 <<

>> Pages 25 - 32 << >> Page 25 <<


>> CONTENTS << SIMPLY CLICK ON THE CONTENT TITLE OR PAGE NUMBER TO GO DIRECTLY TO THE SECTION

AUGUST SOLD STC / UNDER OFFER ANALYSIS [[Cont. Cont.] Cont.]

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS LAST 90 DAYS SOLD STC / UNDER OFFER ANALYSIS

>> Pages 25 - 32 <<

TIME ON MARKET ANALYSIS [[Cont. Cont.] Cont.]

PAGE 4 >> Pages 41 - 45 <<

>> Page 32 <<

TIME ON MARKET ACROSS ALL >> AVERAGE PROPERTIES FOR SALE

>> Pages 43 - 44 <<

>> Page 33 - 40 <<

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS

>> Page 45 <<

5 AGENTS BY LAST 90 DAYS SOLD STC / >> TOP UNDER OFFER PROPERTIES

>> Page 33 <<

CYS™ : CLAIM YOUR SALES

>> Page 46 <<

OTHER AGENTS BY LAST 90 DAYS SOLD STC / >> ALL UNDER OFFER PROPERTIES

>> Page 34 <<

LATEST LAND REGISTRY DATA: RELEASED 29th AUGUST

>> Pages 47 - 53 <<

5 AGENTS BY TOTAL AND AVERAGE VALUES: >> TOP LAST 90 DAYS SOLD STC / UNDER OFFER

>> Page 35 <<

FROM: £480,000 - £1,750,000 >> PRICES PRICES FROM: £378,000 - £480,000

>> Page 47 << >> Page 48 <<

OTHER AGENTS BY TOTAL VALUES: >> ALL LAST 90 DAYS SOLD STC / UNDER OFFER

>> Pages 36 - 37 <<

FROM: £310,000 - £375,000 >> PRICES PRICES FROM: £250,000 - £315,000

>> Page 49 << >> Page 50 <<

>> LAST 90 DAYS SOLD STC / UNDER OFFER

>> Pages 38 - 39 <<

>> PRICES FROM: £149,500 - £194,000

PRICES FROM: £195,000 - £250,000

>> Page 51 << >> Page 52 <<

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS

>> Page 40 <<

>> ANALYSIS > INSIGHT > STRATEGY > TACTICS

>> Page 53 <<

ALL OTHER AGENTS BY AVERAGE VALUES:

TIME ON MARKET ANALYSIS TIME ON MARKET FOR AN INDIVIDUAL >> LONGEST PROPERTY

>> Pages 41 - 45 << >> Pages 41 - 42 <<


>> CHIEF ANALYSTS SYNOPSIS << BACK TO CONTENTS MENU

PAGE 5

‘NOT ALL AGENTS ARE CREATED EQUAL’ Welcome to the first issue of the E14 Estate Agent Market Share Analysis report produced monthly. Undoubtedly the most comprehensive, insightful and thought provoking report and analysis of your local Estate Agency market. This is a must read for every Estate Agency Owner, Director and Sales Manager. It assists you measure your performance against your competition, get insight on the overall market, develop new strategies and decide how best to execute those strategies and measure the success (or failure) of the strategy. The motto at AGENT METRICS is ‘Measure Everything’. How do you currently measure your companies performance? Do you measure your individual Agents / Negotiators performance? What about your buyer enquiries or property instructions, do you have specific criteria on what properties you take on, based on measuring which properties sell better than others? There is an enormous amount of data collected each and every month by every Estate Agency. This data in its purest form is a raw resource and can be converted into a phenomenal asset if utilised correctly. A fascinating aspect of data is once you start to analyse it, specifically over a period of time against other datasets, you start to see patterns and trends. You can then start to ask yourself relevant questions based on this data and trends you are seeing. Pareto’s principle states that, for many events, roughly 80% of the effects come from 20% of the causes. This can be applied to Estate Agency as well and in our analysis and rankings of various market metrics you can see this at work. For example Foxtons Canary Wharf as at 31st August 2012 had a market share of 16.1% [149 properties] of the ‘For Sale’ market metric in the E14 postcode. The same analysis applied to the ‘New Instructions’ market metric for August 2012 revealed that Chase Evans brought on 15.7% [33 properties] of all properties to the market. This same pattern was revealed across several other market metrics. So with 61 Estate Agents in the E14 postcode, why aren’t all the Estate Agents equal? How is it that some Estate Agents outperform all others dis-proportionality? You would imagine or hope or believe that each Estate Agent could have an equal market share of 1.6%, yet the dominate Estate Agents in each market metric have 15%+ of the market share. When you consider the Top 5 Agents who make up 8.2% of the E14 Estate Agency market, in many instances they account for a whooping 50%+ of all market metrics! Does that make them 50 times better? Each month we’ll be measuring, analysing and reporting on Estate Agents performance in their local area based on various market metrics, giving the Estate Agent and Sellers an opportunity to see exactly where they are ranked in the market place. Overtime, we hope we’ll have answers to the above questions and we are sure we’ll find it will be more than just the coffee top Estate Agents drink that make them perform better. They will be specific things that they do over and over again, which we believe can be replicated if anyone chose to do it. One of our goals along the way is to make Estate Agents even more competitive and in so doing improve the standard and service they offer to Sellers and Buyers, whilst simultaneously improving their profits. We look forward to providing you the information to make informed decisions. Remember, measure everything. PHIN MPOFU | CHIEF ANALYST | PHIN@AGENTMETRICS.CO.UK


>> FOR SALE MARKET SHARE << BACK TO CONTENTS MENU

PAGE 6

In our first ‘FOR SALE MARKET SHARE’ analysis we have used the data from the web portals as our original dataset. Similar to our comment on the ‘SOLD STC / UNDER OFFER’ market share, there were several instances of ’Ghost Marketing’ and repetition. Where ever possible and where it is blatantly obvious that ghost marketing and repetition has been used, we have not counted those properties. With an impressive 16.1% (149 properties in E14), Foxtons is significantly ahead of all other Estate Agents. What will be interesting and will be revealed as each months report is produced, is the trend behind Foxtons For Sale Market Share. Specifically, whether they are successfully selling their instructions or whether their Vendors are changing Estate Agents or withdrawing from the market altogether. Foxtons and no doubt other Agents, in particular Felicity J Lord and Chase Evans, ranked number 2 and 3 as at the 31st August 2012 will be watching closely.

TOP 5 AGENTS BY FOR SALE MARKET SHARE RANKING

AGENT NAME

NUMBER OF PROPERTIES

Foxtons

149

Felicity J Lord

56

3

Chase Evans

52

4

Stonewater Property

41

Vanet Property Asset Management

37


>> FOR SALE MARKET SHARE <<

PAGE 7

BACK TO CONTENTS MENU ALL OTHER AGENTS The rest of the market accounts for 63.3% of the market. The rest of the market consists of 55 Estate Agents. Below is the full ranking of the remaining Estate Agents.

Where is your Agency ranked? Are you happy with that ranking? What can be done to improve your ranking? At first glance, many Directors, Owners and Sales Managers may be tempted to aim for the number of one spot, when they are sitting in 30th position. They may do this by slashing their fees in the hope of gaining new instructions. This is not necessary. In fact, trying to compete on fees can be very detrimental to your business and trying to jump from being ranked 30th to 1st in 30 days is not practical. Number of instructions must not be looked at in isolation. In fact it is not the only metric to consider. Quality of instruction, (i.e. its saleability), average time on market, asking price are all additional metrics to factor in. For example you will see on our TOTAL VALUE OF INSTRUCTIONS FOR SALE metric how Savills and Knight Frank, break into the Top 5 Agents, simply based on the value of their instructions. Savills is ranked 11th, by number of instructions, whilst ranking 2nd in terms of total value of instructions. Knight Frank is ranked 7th by number of instructions and 5th by total value of instructions.

ALL OTHER AGENTS FOR SALE MARKET SHARE RANKING

AGENT NAME

NUMBER OF % SHARE PROPERTIES

ALL OTHER AGENTS FOR SALE MARKET SHARE RANKING

AGENT NAME

NUMBER OF % SHARE PROPERTIES

6

Jacob Fox

36

3.9 %

13

London Link

26

2.9 %

7

Knight Frank

34

3.7 %

14

Lourdes Estate Agents

25

2.7 %

8

Alex Neil

32

3.5 %

14

Hurford Salvi Carr

25

2.7 %

9

Chesterton Humberts

31

3.4 %

16

Ruyi Property Service

21

2.3 %

10

Ashley King

30

3.3 %

17

Docklands Real Estate

20

2.2 %

11

Savills

29

3.2 %

18

Your Move

19

2.1 %

12

Alan Selby & Partners

27

3.0 %

19

Elizabeth Pryce

18

2.0 %


>> FOR SALE MARKET SHARE <<

PAGE 8

BACK TO CONTENTS MENU ALL OTHER AGENTS FOR SALE MARKET SHARE RANKING

AGENT NAME

ALL OTHER AGENTS FOR SALE MARKET SHARE

NUMBER OF PROPERTIES

% SHARE

RANKING

AGENT NAME

NUMBER OF % PROPERTIES SHARE

20

Atkinson McLeod

16

1.8 %

34

Hunter & Bloomfield

6

0.7 %

21

Property Matters

15

1.6 %

34

Property Match London

6

0.7 %

22

Jones Lang LaSalle

14

1.5 %

36

Estates and Lets

5

0.6 %

22

Franklyn James

14

1.5 %

36

LTV Estates

5

0.6 %

24

River Habitat

13

1.4 %

36

Vantage Property & Management

5

0.6 %

24

Holland Properties

13

1.4 %

39

Alphabet City

4

0.4 %

26

Archers Sales & Lettings

12

1.3 %

40

Life Residential

3

0.3 %

27

Henry Wiltshire

11

1.2 %

40

Campbell Residential

3

0.3 %

27

Rubicon Estate Agents

11

1.2 %

40

Icon Realty

3

0.3 %

29

LPS Direct

10

1.1 %

43

Chattels of London

2

0.2 %

30

Royal Docks Property Services

9

0.9 %

43

Hox City

2

0.2 %

31

Guy Salmon Estates

8

0.9 %

43

Square Mile

2

0.2 %

31

Landmark Estates

8

0.9 %

43

Ranson UK

2

0.2 %

33

Ivory & Hatton

7

0.8 %

43

Martin & Co

2

0.2 %


>> FOR SALE MARKET SHARE <<

PAGE 9

BACK TO CONTENTS MENU ALL OTHER AGENTS FOR SALE MARKET SHARE RANKING

AGENT NAME

NUMBER OF PROPERTIES

% SHARE

43

Wilson & Co

2

0.2 %

49

Century 21 Canary Wharf

1

0.1 %

49

Aston Knights

1

0.1 %

49

Skampi

1

0.1 %

49

Robinson Marsh

1

0.1 %

49

Field & Sons

1

0.1 %

49

Lineas Estate Agents

1

0.1 %

49

Metropolitan and Crown

1

0.1 %

56

Avant-Garde

0

0.0 %

56

Got Your Property

0

0.0 %

56

Jack Barclay Estates

0

0.0 %

56

Jameson Knight

0

0.0 %

56

ProCities Estate Agents

0

0.0 %

56

TerraFirma Property Services

0

0.0 %

FOR SALE MARKET SHARE STATS OF INTEREST

15

7

AVERAGE NUMBER OF PROPERTIES FOR SALE PER ESTATE AGENT

NUMBER OF ESTATE AGENTS WITH ONLY ONE PROPERTY FOR SALE

335

928

TOTAL NUMBER OF PROPERTIES TOP 5 AGENTS HAVE FOR SALE

TOTAL NUMBER OF PROPERTIES FOR SALE ACROSS ALL AGENTS


>> FOR SALE MARKET SHARE <<

PAGE 10

BACK TO CONTENTS MENU TOP 5 AGENTS BY TOTAL VALUE OF FOR SALE INSTRUCTIONS

TOP 5 AGENTS BY AVERAGE VALUE OF FOR SALE INSTRUCTIONS

TOTAL VALUE

NUMBER OF PROPERTIES

Foxtons

£67,749,022

149

Century 21 Canary Wharf £875,000

Savills

£24,761,495

29

Savills

£853,845

29

3

Chase Evans

£24,211,390

52

3

River Habitat

£772,262

13

4

Felicity J Lord £23,921,329

56

4

Knight Frank

£687,279

34

Knight Frank

34

Archers

£664,108

12

RANKING

AGENT NAME

£23,367,495

RANKING

AGENT NAME

AVERAGE VALUE

NUMBER OF PROPERTIES

1


>> FOR SALE MARKET SHARE <<

PAGE 11

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF FOR SALE INSTRUCTIONS RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY TOTAL VALUE OF FOR SALE INSTRUCTIONS

NUMBER OF PROPERTIES

RANKING

AGENT NAME

TOTAL VALUE

NUMBER OF PROPERTIES

6

Chesterton Humberts

£16,451,100

31

19

Alex Neil

£8,252,839

32

7

Stonewater Property

£15,533,527

41

20

Archers Sales & Lettings

£7,969,295

12

8

Jacob Fox

£14,535,510

36

21

Elizabeth Pryce

£6,074,348

18

9

Alan Selby & Partners

£13,079,900

27

22

Holland Properties

£5,934,388

13

10

Lourdes Estate Agents

£13,067,442

25

23

Franklyn James

£5,294,766

14

11

Vanet

£12,960,575

37

24

Henry Wiltshire

£5,134,625

11

12

London Link

£12,455,688

26

25

Atkinson McLeod

£5,111,950

16

13

Ruyi Property Service

£11,469,845

21

26

Your Move

£4,894,590

19

14

Ashley King

£11,200,864

30

27

Property Matters

4,774,394

15

15

River Habitat

£10,039,400

13

28

LPS Direct

£4,601,000

10

16

Hurford Salvi Carr

£8,353,420

25

29

Rubicon Estate Agents

£3,840,695

11

17

Docklands Real Estate

£8,287,430

20

30

Guy Salmon Estates

£3,292,439

8

18

Jones Lang LaSalle

£8,260,400

14

31

Royal Docks

£3,219,980

9


>> FOR SALE MARKET SHARE <<

PAGE 12

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF FOR SALE INSTRUCTIONS RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY TOTAL VALUE OF FOR SALE INSTRUCTIONS

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

32

Ivory & Hatton

£2,877,497

7

45

Hox City

£749,995

2

33

Landmark Estates

£2,599,992

8

46

Square Mile

£729,995

2

34

Estates and Lets

£2,168,999

5

47

Ranson UK

£694,995

2

35

Hunter & Bloomfield

£2,113,935

6

48

Martin & Co

£560,000

2

36

LTV Estates

£1,919,999

5

49

Wilson & Co

£505,000

2

37

Property Match London

£1,770,450

6

50

Aston Knights

£470,000

1

38

Vantage

£1,359,990

5

51

Skampi

£345,000

1

39

Life Residential

£1,280,000

3

52

Robinson Marsh

£260,000

1

40

Campbell Residential

£1,254,995

3

53

Field & Sons

£239,950

1

41

Icon Realty

£1,059,990

3

54

Lineas Estate Agents

£230,000

1

42

Alphabet City

£952,490

4

55

Metropolitan and Crown

£215,000

1

43

Chattels of London

£895,000

2

56

Got Your Property / ProCities / Avant-Garde

£0

0

44

Century 21 Canary Wharf

£875,000

1

56

Jack Barclay / TerraFirma / Jameson Knight

£0

0


>> FOR SALE MARKET SHARE <<

PAGE 13

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF INSTRUCTIONS FOR SALE RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY AVERAGE VALUE OF INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

AGENT NAME

TOTAL VALUE

NUMBER OF PROPERTIES

6

Jones Lang LaSalle

£590,029

14

19

Estates and Lets

£433,800

5

7

Ruyi Property Service

£546,183

21

20

Felicity J Lord

£427,167

56

8

Chesterton Humberts

£530,681

31

21

Life Residential

£426,667

3

9

Lourdes Estate Agents

£522,698

25

22

Campbell Residential

£418,332

3

10

Alan Selby & Partners

£484,441

27

23

Docklands Real Estate

£414,372

20

11

London Link

£479,065

26

24

Guy Salmon Estates

£411,555

8

12

Aston Knights

£470,000

1

25

Ivory & Hatton

£411,071

7

13

Henry Wiltshire

£466,784

11

26

Jacob Fox

£403,764

36

14

Chase Evans

£465,604

52

27

LTV Estates

£384,000

5

15

LPS Direct

£460,100

10

28

Stonewater Property

£378,860

41

16

Holland Properties

£456,491

13

29

Franklyn James

£378,198

14

17

Foxtons

£454,691

149

30

Hox City

£374,998

2

18

Chattels of London

£447,500

2

31

Ashley King

£373,362

30


>> FOR SALE MARKET SHARE <<

PAGE 14

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF INSTRUCTIONS FOR SALE RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY AVERAGE VALUE OF INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

32

Square Mile

£364.998

2

45

Property Match London

£295.075

6

33

Royal Docks

£357.776

9

46

Martin & Co

£280,000

2

34

Icon Realty

£353.330

3

47

Vantage Property Management

£271,998

5

35

Hunter & Bloomfield

£352.323

6

48

Robinson Marsh

£260,000

1

36

Vanet

£350.286

37

49

Alex Neil

£257,901

32

37

Rubicon

£349.154

11

50

Your Move

£257,610

19

38

Ranson UK

£347.498

2

51

Wilson & Co

£252,500

2

39

Skampi

£345.000

1

52

Field & Sons

£239,950

1

40

Elizabeth Pryce

£337.464

18

53

Alphabet City

£238,123

4

41

Hurford Salvi Carr

£334.137

25

54

Lineas Estate Agents

£230,000

1

42

Landmark Estates

£324.999

8

55

Metropolitan and Crown

£215,000

1

43

Atkinson McLeod

£319.497

16

56

Got Your Property / ProCities / Avant-Garde

£0

0

44

Property Matters

£318,293

15

56

Jack Barclay / TerraFirma / Jameson Knight

£0

0


>> FOR SALE MARKET SHARE << BACK TO CONTENTS MENU

PAGE 15

ANALYSIS:

The ‘For Sale Market Share’ metric is the first critical metric for all Estate Agencies. If you have no properties, you have no buyer enquiries; if you have no buyer enquiries, you have nothing to sell and pretty soon you will be about of business. From an analytical point of view some of the deeper analysis you need to consider as a Agency Owner / Sales Director / Sales Manager is should we be taking on that property in the first place? Bottom line is you want properties that sell and if you start to analyse where most of your enquiries come from you will find that it will be from roughly 20% of your properties and they will be a particular type e.g. 1 / 2 / 3 bedrooms in a particular development or with particular facilities. Test it and let us know.

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


>> NEW INSTRUCTIONS MARKET SHARE << BACK TO CONTENTS MENU

PAGE 16

New Instructions - the lifeblood of your Estate Agency business. August 2012 saw a total of 210 new instructions added to the E14 market. It is important to note that we are basing this on what we are calling the Original Dataset. The original dataset principle works on the basis of taking a note of the instruction. Because this is out first report, our analytical system was not able to cross reference against historic data to ensure the instruction is actually new. Future analysis will however be cross referenced to ensure that data integrity is maintained. We encourage Agents to be transparent and not to â&#x20AC;&#x2DC;ghost marketâ&#x20AC;&#x2122; or repeat properties. We will naturally be making note of prolific ghost marketers where obvious and will highlight this. Whilst this may not necessarily be an issue internally it may affect a potential Vendors impression of your Agency where this has been made evident.

TOP 5 AGENTS BY NEW INSTRUCTION MARKET SHARE RANKING

AGENT NAME

NUMBER OF PROPERTIES

Chase Evans

33

Foxtons

23

3

Felicity J Lord

15

4

Alan Selby & Partners

14

London Link

11


>> NEW INSTRUCTIONS MARKET SHARE << BACK TO CONTENTS MENU

PAGE 17

ALL OTHER AGENTS The rest of the market accounts of 53.3% of the market. The rest of the market consists of 55 Estate Agents. Below is the full ranking of the remaining Estate Agents.

ALL OTHER AGENTS NEW INSTRUCTION MARKET SHARE RANKING

AGENT NAME

ALL OTHER AGENTS NEW INSTRUCTION MARKET SHARE

NUMBER OF PROPERTIES

% SHARE

RANKING

AGENT NAME

NUMBER OF % PROPERTIES SHARE

6

Chesterton Humberts

11

5.2 %

18

LTV Estates / Life Residential

3

1.43 %

7

Rubicon Estate Agents

10

4.8 %

24

Elizabeth Pryce / River Habitat

2

0.9 %

8

Knight Frank

9

4.3 %

24

Archers / Martin & Co

2

0.9 %

9

Alex Neil

7

3.3 %

28

Chattels of London / Hox City

1

0.5 %

10

Ashley King

7

3.3 %

28

Square Mile / Wilson & Co

1

0.5 %

11

Hurford Salvi Carr

7

3.3 %

28

Century 21 / Property Matters

1

0.5 %

12

Lourdes / Atkinson McLeod

6

2.9 %

33

Stonewater Property / Jacob Fox

0

0.0 %

14

Savills / Holland Properties

5

2.4 %

33

Ruyi Property Services / Skampi

0

0.0 %

16

Jones Lang LaSalle

4

1.9 %

33

Docklands Real Estate / Icon Realty

0

0.0 %

16

Henry Wiltshire

4

1.9 %

33

Hunter & Bloomfield / LPS Direct

0

0.0 %

18

Vanet / Your Move

3

1.4 %

33

Guy Salmon Estates / Avant-Garde

0

0.0 %

18

Franklyn James / Royal Docks

3

1.4 %

33

Landmark Estates / Ivory Hatton

0

0.0 %


>> NEW INSTRUCTIONS MARKET SHARE << BACK TO CONTENTS MENU ALL OTHER AGENTS NEW INSTRUCTION MARKET SHARE RANKING

AGENT NAME

NUMBER OF PROPERTIES

% SHARE

33

Property Match London

0

0.0 %

33

Vantage Property & Management

0

0.0 %

33

Alphabet City / Ranson UK

0

0.0 %

33

Campbell Residential

0

0.0 %

33

Aston Knights / Robinson Marsh

0

0.0 %

33

Field & Sons / Lineas

0

0.0 %

33

Metropolitan and Crown

0

0.0 %

33

Got Your Property

0

0.0 %

33

Jack Barclay Estates

0

0.0 %

33

ProCities Estate Agents

0

0.0 %

33

TerraFirma Property Services

0

0.0 %

NEW INSTRUCTIONS POINTS OF INTEREST

4

28

AVERAGE NUMBER OF NEW INSTRUCTIONS PER ESTATE AGENT

NUMBER OF ESTATE AGENTS WITH ZERO NEW INSTRUCTIONS IN AUG

96

211

TOTAL NUMBER OF NEW INSTRUCTIONS TOP 5 AGENTS HAD

TOTAL NUMBER OF NEW INSTRUCTIONS ACROSS ALL AGENTS

PAGE 18


>> NEW INSTRUCTIONS MARKET SHARE <<

PAGE 19

BACK TO CONTENTS MENU TOP 5 AGENTS BY TOTAL VALUE OF NEW INSTRUCTIONS IN AUGUST 2012

TOP 5 AGENTS BY AVERAGE VALUE OF NEW INSTRUCTIONS IN AUGUST 2012

TOTAL VALUE

NUMBER OF PROPERTIES

Chase Evans

£16,090,955

33

Century 21 Canary Wharf £875,000

1

Foxtons

£10,711,000

23

Knight Frank

£864,444

9

3

Knight Frank

£7,780,000

9

3

River Habitat

£814,750

2

4

Felicity J Lord £7,144,990

14

4

Hox City

£749,995

1

Knight Frank

15

Chattels of London

£650,000

1

RANKING

AGENT NAME

£6,019,955

RANKING

AGENT NAME

AVERAGE VALUE

NUMBER OF PROPERTIES


>> NEW INSTRUCTIONS MARKET SHARE <<

PAGE 20

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF NEW INSTRUCTIONS FOR SALE RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY TOTAL VALUE OF NEW INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

AGENT NAME

TOTAL VALUE

NUMBER OF PROPERTIES

6

Chesterton Humberts

£5,559,750

11

19

Royal Docks

£1,344,995

3

7

London Link

£5,224,339

13

20

Franklyn James

£1,209,944

3

8

Rubicon Estate Agents

£3,375,695

10

21

Vanet

£1,170,000

3

9

Savills

£2,954,000

5

22

LTV Estates

£919,999

3

10

Holland Properties

£2,775,000

5

23

Archers Sales & Lettings

£875,000

2

11

Hurford Salvi Carr

£2,375,940

7

24

Century 21 Canary Wharf

£875,000

1

12

Ashley King

£2,189,328

7

25

Your Move

£814,900

3

13

Jones Lang LaSalle

£2,124,950

4

26

Hox City

£749,995

1

14

Henry Wiltshire

£2,079,655

4

27

Elizabeth Pryce

£699,990

2

15

Lourdes Estate Agents

£1,939,948

6

28

Chattels of London

£650,000

1

16

Alex Neil

£1,871,490

7

29

Martin & Co

£560,000

2

17

Atkinson McLeod

£1,814,000

6

30

Square Mile

£379,995

1

18

River Habitat

£1,629,500

2

31

Wilson & Co

£330,000

1


>> NEW INSTRUCTIONS MARKET SHARE <<

PAGE 21

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF NEW INSTRUCTIONS FOR SALE RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY TOTAL VALUE OF NEW INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

32

Property Matters

£147,999

1

33

Lineas Estate Agents

£0

0

33

Landmark Estates

£0

0

33

Ruyi Property Service

£0

0

33

Jacob Fox

£0

0

33

Icon Realty / Estates and Lets £0

0

33

Alphabet City / Vantage

£0

0

33

Robinson Marsh

£0

0

33

Docklands Real Estate

£0

0

33

Life Residential

£0

0

33

Hunter & Bloomfield

£0

0

33

Aston Knights

£0

0

33

Campbell Residential

£0

0

33

Avant-Garde / Skampi

£0

0

33

Stonewater Poperty

£0

0

33

Got Your Property

£0

0

33

Ranson UK

£0

0

33

Jack Barclay Estates

£0

0

33

Guy Salmon Estates

£0

0

33

ProCities Estate Agents

£0

0

33

Metropolitan and Crown

£0

0

33

TerraFirma Property Services £0

0

33

Ivory & Hatton

£0

0

33

LPS Direct / Jameson Knight

£0

0

33

Property Match London

£0

0

33

Field & Sons

£0

0


>> NEW INSTRUCTIONS MARKET SHARE <<

PAGE 22

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF NEW INSTRUCTIONS FOR SALE RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY AVERAGE VALUE OF NEW INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

AGENT NAME

TOTAL VALUE

NUMBER OF PROPERTIES

6

Savills

£590.800

5

19

Vanet

£390.000

3

7

Holland Properties

£555.000

5

20

Square Mile

£379.995

1

8

Jones Lang LaSalle

£531.238

4

21

Elizabeth Pryce

£349.995

2

9

Henry Wiltshire

£519.914

4

22

Hurford Salvi Carr

£339.420

7

10

Alan Selby & Partners

£510.356

14

23

Rubicon Estate Agents

£337.570

10

11

Chesterton Humberts

£505.432

11

24

Wilson & Co

£330.000

1

12

Chase Evans

£487.605

33

25

Lourdes Estate Agents

£323.325

6

13

Foxtons

£465.696

23

26

Ashley King

£312.761

7

14

Royal Docks

£448.332

3

27

LTV Estates

£306.666

3

15

Archers Sales and Lettings

£437.500

2

28

Atkinson McLeod

£302.333

6

16

Franklyn James

£403.315

3

29

Martin & Co

£280.000

2

17

London Link

£401.872

13

30

Your Move

£271.633

3

18

Felicity J Lord

£401.330

15

31

Alex Neil

£267.356

7


>> NEW INSTRUCTIONS MARKET SHARE <<

PAGE 23

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF NEW INSTRUCTIONS FOR SALE RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY AVERAGE VALUE OF NEW INSTRUCTIONS FOR SALE

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

32

Property Matters

£147,999

1

33

Lineas Estate Agents

£0

0

33

Landmark Estates

£0

0

33

Ruyi Property Service

£0

0

33

Jacob Fox

£0

0

33

Icon Realty / Estates and Lets £0

0

33

Alphabet City / Vantage

£0

0

33

Robinson Marsh

£0

0

33

Docklands Real Estate

£0

0

33

Life Residential

£0

0

33

Hunter & Bloomfield

£0

0

33

Aston Knights

£0

0

33

Campbell Residential

£0

0

33

Avant-Garde / Skampi

£0

0

33

Stonewater Poperty

£0

0

33

Got Your Property

£0

0

33

Ranson UK

£0

0

33

Jack Barclay Estates

£0

0

33

Guy Salmon Estates

£0

0

33

ProCities Estate Agents

£0

0

33

Metropolitan and Crown

£0

0

33

TerraFirma Property Services £0

0

33

Ivory & Hatton

£0

0

33

LPS Direct / Jameson Knight

£0

0

33

Property Match London

£0

0

33

Field & Sons

£0

0


>> NEW INSTRUCTIONS MARKET SHARE << BACK TO CONTENTS MENU

PAGE 24

ANALYSIS:

The ‘New Instruction Market Share’ metric measures the number of new instructions your Estate Agency has made. This is an excellent metric for analysing and measuring the effectiveness of a marketing campaign. Deeper analysis would consist of such metrics as number of enquiries (web / telephone / walk-in) you are receiving. Desired prices and circumstances of the seller (useful in determining motivation to sell). You could then compare your analysis each and every month with any other Estate Agent who is attending the valuation as well. We know that Vendors typically bring in three Estate Agents to provide them with a valuation. How many instructions are you winning against your competition? How does your valuation compare to other Estate Agents. If they are winning the instruction based on valuation is the asking price bring achieved?

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


>> AUGUST SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 25

AUGUST SOLD STC / UNDER OFFER ANALYSIS: As Phin mentioned in his synopsis, you are in the service business. You carrying our that service by selling a vendors property. Of course in this market it is a little tougher, however anyone can sell a property in a buoyant market. The true test of an Agents ability come when the market is stagnant. 1 in every three sales falls through is the industry statistic, so naturally the more properties you have ’Under Offer’ and ‘SOLD STC’, the more sells that eventually complete. One of the areas we are excited about with our Agent Metrics Estate Agent Market Share Analysis is the CYS™ [Claim Your Sale] system we have developed and are inviting all Agents to use as part of their monthly subscription. More details on CYS™ and how it works are available in the Land Registry Sold Data Analysis section.

TOP 5 AGENTS BY AUGUST SOLD STC / UNDER OFFER MARKET SHARE RANKING

AGENT NAME

NUMBER OF SALES

Foxtons

29

Felicity J Lord

18

3

Chesterton Humberts

15

4

Chase Evans

11

Knight Frank & Henry Wiltshire

9


>> AUGUST SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 26

AUGUST SOLD STC / UNDER OFFER ANALYSIS - ALL OTHER AGENTS:

ALL OTHER AGENTS BY AUGUST SOLD STC / UNDER OFFER MARKET SHARE RANKING

AGENT NAME

ALL OTHER AGENTS BY AUGUST SOLD STC / UNDER OFFER MARKET SHARE

NUMBER RANKING OF SALES

AGENT NAME

ALL OTHER AGENTS BY AUGUST SOLD STC / UNDER OFFER MARKET SHARE

NUMBER RANKING OF SALES

AGENT NAME

NUMBER OF SALES

7

Hurford Salvi Carr

8

22

London Link / Alphabet City

1

23

Lineas / Ruyi / Square Mile

0

8

Jones Lang LaSalle / Rubicon

7

22

Jacob Fox

1

23

Chattels of London

0

8

Holland Properties

7

23

Vantage / Hunter & Bloomfield

0

23

Wilson & Co / Aston Knights

0

11

Alan Selby & Partners

6

23

River Habitat / Ranson UK

0

23

Robinson Marsh / TerraFirma

0

11

Alex Neil

6

23

Campbell Residential / Skampi

0

23

Life Residential

0

13

Savills

5

23

Stonewater Property

0

23

Royal Docks / Martin & Co

0

14

Lourdes / Elizabeth Pryce

4

23

Guy Salmon Estates / Archers

0

23

Century 21 / Jack Barclay

0

14

Ashley King / Atkinson McLeod

4

23

Field & Sons / LPS Direct

0

23

Jameson Knight

0

18

Your Move / Vanet

3

23

Metropolitan and Crown

0

23

Got Your Property

0

20

Franklyn James

3

23

Estates and Lets / Hox City

0

23

Jameson Knight

0

20

Landmark Estates

3

23

Ivory & Hatton / LTV Estates

0

23

ProCities Estate Agents

0

22

Docklands Real Estate

1

23

Property Match London

0

23

Avant-Garde / Property Matters

0


>> AUGUST SOLD STC / UNDER OFFER <<

PAGE 27

BACK TO CONTENTS MENU TOP 5 AGENTS BY TOTAL VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

Foxtons

TOTAL VALUE

NUMBER OF PROPERTIES

TOP 5 AGENTS BY AVERAGE VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

AVERAGE VALUE

NUMBER OF PROPERTIES

£9,413,347

29

Chesterton Humberts

£555,990

15

Chesterton Humberts £8,339,850

15

Henry Wiltshire

£540,856

9

3

Felicity J Lord

£7,852,380

18

3

Savills

£521,000

5

4

Henry Wiltshire

£4,867,707

9

4

Franklyn James

£519,998

3

Chase Evans

£4,714,934

11

Knight Frank

£474,444

9


>> AUGUST SOLD STC / UNDER OFFER <<

PAGE 28

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY TOTAL VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

6

Knight Frank

£4,270,000

9

19

Ashley King

£1,174,552

4

7

Jones Lang LaSalle

£3,201,900

7

20

Vanet

£1,145,000

3

8

Hurford Salvi Carr

£2,944,999

8

21

Your Move

£894,850

3

9

Rubicon Estate Agents

£2,922,500

7

22

Jacob Fox

£330,000

1

10

Holland Properties

£2,720,388

7

23

Docklands Real Estate

£264,995

1

11

Savills

£2,605,000

5

24

Alphabet City

£260,000

1

12

Alex Neil

£2,164,995

6

25

London Link

£155,000

1

13

Alan Selby & Partners

£1,834,925

6

26

Vantage

£0

0

14

Franklyn James

£1,559,995

3

26

Hunter & Bloomfield

£0

0

15

Landmark Estates

£1,419,998

3

26

River Habitat / Ranson UK

£0

0

16

Atkinson McLeod

£1,382,849

4

26

Campbell Residential

£0

0

17

Lourdes Estate Agents

£1,349,994

4

26

Stonewater Property

£0

0

18

Elizabeth Pryce

£1,304,990

4

26

Guy Salmon Estates

£0

0


>> AUGUST SOLD STC / UNDER OFFER <<

PAGE 29

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY TOTAL VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

26

Field & Sons / LPS Direct

£0

0

26

Life Residential

£0

0

26

Metropolitan and Crown

£0

0

26

Square Mile

£0

0

26

Archers / Estates and Lets

£0

0

26

Wilson & Co

£0

0

26

Ivory & Hatton

£0

0

26

Aston Knights

£0

0

26

Property Match London

£0

0

26

Royal Docks

£0

0

26

Lineas Estate Agents

£0

0

26

Martin & Co

£0

0

26

Ruyi Property Service

£0

0

26

Century 21 Canary Wharf

£0

0

26

Chattels of London

£0

0

26

Avant-Garde

£0

0

26

LTV Estates

£0

0

26

Got Your Property

£0

0

26

Icon Realty

£0

0

26

Jack Barclays Estates

£0

0

26

Robinson Marsh

£0

0

26

Jameson Knight

£0

0

26

Hox City

£0

0

26

ProCities Estate Agents

£0

0

26

Skampi

£0

0

26

TerraFirma / Property Matters

£0

0


>> AUGUST SOLD STC / UNDER OFFER <<

PAGE 30

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY AVERAGE VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

6

Landmark Estates

£473,333

3

19

Foxtons

£324,958

29

7

Jones Lang LaSalle

£457,414

7

20

Alan Selby & Partners

£305,821

6

8

Felicity J Lord

£436,243

18

21

Your Move

£298,283

3

9

Chase Evans

£428,630

11

22

Ashley King

£293,368

4

10

Rubicon Estate Agents

£417,500

7

23

Docklands Real Estate

£264,995

1

11

Holland Properties

£388,627

7

24

Alphabet City

£260,000

1

12

Vanet

£381,667

3

25

London Link

£155,000

1

13

Hurford Salvi Carr

£368,125

8

26

Vantage

£0

0

14

Alex Neil

£360,833

6

26

Hunter & Bloomfield

£0

0

15

Atkinson McLeod

£345,712

4

26

River Habitat / Ranson UK

£0

0

16

Lourdes Estate Agents

£337,499

4

26

Campbell Residential

£0

0

17

Jacob Fox

£330,000

1

26

Stonewater Property

£0

0

18

Elizabeth Pryce

£326,248

4

26

Guy Salmon Estates

£0

0


>> AUGUST SOLD STC / UNDER OFFER <<

PAGE 31

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY AVERAGE VALUE OF AUGUST SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

26

Field & Sons / LPS Direct

£0

0

26

Life Residential

£0

0

26

Metropolitan and Crown

£0

0

26

Square Mile

£0

0

26

Archers / Estates and Lets

£0

0

26

Wilson & Co

£0

0

26

Ivory & Hatton

£0

0

26

Aston Knights

£0

0

26

Property Match London

£0

0

26

Royal Docks

£0

0

26

Lineas Estate Agents

£0

0

26

Martin & Co

£0

0

26

Ruyi Property Service

£0

0

26

Century 21 Canary Wharf

£0

0

26

Chattels of London

£0

0

26

Avant-Garde

£0

0

26

LTV Estates

£0

0

26

Got Your Property

£0

0

26

Icon Realty

£0

0

26

Jack Barclays Estates

£0

0

26

Robinson Marsh

£0

0

26

Jameson Knight

£0

0

26

Hox City

£0

0

26

ProCities Estate Agents

£0

0

26

Skampi

£0

0

26

TerraFirma / Property Matters

£0

0


>> AUGUST SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 32

ANALYSIS:

The ‘Months SOLD STC / Under Offer Market Share’ metric, measures what properties you have sold in the last month. There will be natural fluctuations based on seasonal timings, however over a period of time various trends are formed. Deeper analysis consists of Sold STC to For Sale percentages, which look at the properties you have sold as a percentage against what you have for sale. Again over a period of time this gives you a metric to measure and bench mark, particularly if done monthly. For example say your analysis reveals that you are selling 10% of all instructions each month, if you have 50 properties that is 5 sales each properties each month. Pareto’s principle comes trumps here as we know that roughly 80% of your revenues will come from 20% of your sales.

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


>> 90 DAY SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 33

LAST 90 SOLD STC / UNDER OFFER ANALYSIS: In addition to the months ‘SOLD STC / Under Offer’ properties for the month of August, we also look at the last 90 days, starting from 1st June 2012 till the 31st August 2012. The last 90 days gives us an additional metric to measure. Trends to look for include consistency, market down periods and average selling price. As this is the Original Dataset, there may be some questionable data. We felt we did not want to skew the data by not recording what our system analysed. Naturally over a period of time the consistency of an Agencies sales will be determined. In addition, our cross referencing with our ground-breaking CYS™ [Claim Your Sale] system, which will allow us to

TOP 5 AGENTS BY LAST 90 DAYS SOLD STC / UNDER OFFER MARKET SHARE RANKING

AGENT NAME

NUMBER OF SALES

Alex Neil

68

Foxtons

35

3

Felicity J Lord

27

4

Chesterton Humberts

26

Chase Evans

13


>> 90 DAY SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 34

LAST 90 DAYS [1st JUN - 31st AUG] SOLD STC / UNDER OFFER ANALYSIS - ALL OTHER AGENTS:

ALL OTHER AGENTS BY LAST 90 DAYS SOLD STC / UNDER OFFER MARKET SHARE RANKING

AGENT NAME

ALL OTHER AGENTS BY LAST 90 DAYS ALL OTHER AGENTS BY LAST 90 DAYS SOLD STC / UNDER OFFER MARKET SHARE SOLD STC / UNDER OFFER MARKET SHARE

NUMBER RANKING OF SALES

AGENT NAME

NUMBER RANKING OF SALES

AGENT NAME

NUMBER OF SALES

6

Knight Frank / Ashley King

12

17

Your Move

4

26

Vantage / River Habitat

0

8

Henry Wiltshire

9

17

Docklands Real Estate

4

26

Hunter & Bloomfield / Hox City

0

8

Jones Lang LaSalle

9

21

Franklyn James

3

26

Campbell Residential

0

8

Lourdes Estate Agents

9

22

Jacob Fox / London Link

1

26

Stonewater / Got Your Property

0

11

Holland Properties

8

22

Alphabet City / Field & Sons

1

26

Archers / Ivory & Hatton

0

11

Hurford Salvi Carr

8

22

Estates and Lets

1

26

Guy Salmon Estates / Lineas

0

11

Alan Selby & Partners

8

22

Skampi / Jameson Knight

1

26

LPS Direct / Chattels of London

0

14

Savills

7

26

Square Mile / TerraFirma

0

26

Metropolitan and Crown

0

14

Rubicon Estate Agents

7

26

Wilson & Co / Century 21

0

26

LTV Estates / Icon Realty

0

16

Elizabeth Pryce

6

26

Jack Barclay / ProCities

0

26

Ruyi / Property Matters

0

17

Landmark Estates

4

26

Life Residential / Royal Docks

0

26

Property Match London

0

17

Vanet / Atkinson McLeod

4

26

Avant-Garde / Martin & Co

0

26

Robinson Marsh / Aston Knights

0


>> 90 DAY SOLD STC / UNDER OFFER <<

PAGE 35

BACK TO CONTENTS MENU TOP 5 AGENTS BY TOTAL VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

TOP 5 AGENTS BY AVERAGE VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

TOTAL VALUE

NUMBER OF PROPERTIES

£19,769,658

68

Savills

£786,429

7

Chesterton Humberts £13,938,700

26

Henry Wiltshire

£540,856

9

3

Foxtons

£11,573,347

35

3

Chesterton Humberts

£536,104

26

4

Felicity J Lord

£10,907,355

27

4

Franklyn James

£519,998

3

Knight Frank

£5,917,400

12

Knight Frank

£493,117

12

RANKING

AGENT NAME

Alex Neil

RANKING

AGENT NAME

AVERAGE VALUE

NUMBER OF PROPERTIES


>> 90 DAY SOLD STC / UNDER OFFER <<

PAGE 36

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY TOTAL VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

6

Savills

£5,505,000

7

19

Vanet

£1,415,000

4

7

Chase Evans

£5,449,934

13

20

Atkinson McLeod

£1,382,849

4

8

Henry Wiltshire

£4,867,707

9

21

Your Move

£1,344,850

4

9

Ashley King

£4,414,768

12

22

Docklands Real Estate

£1,039,985

4

10

Jones Lang LaSalle

£3,936,900

9

23

Jameson Knight

£485,950

1

11

Lourdes Estate Agents

£3,619,991

9

24

Estates and Lets

£425,000

1

12

Holland Properties

£3,095,276

8

25

Skampi

£375,000

1

13

Hurford Salvi Carr

£2,944,999

8

26

Jacob Fox

£330,000

1

14

Rubicon Estate Agents

£2,922,500

7

27

Field & Sons

£269,950

1

15

Alan Selby & Partners

£2,334,915

8

28

Alphabet City

£260,000

1

16

Elizabeth Pryce

£2,094,989

6

29

London Link

£155,000

1

17

Landmark Estates

£1,689,997

4

30

Vantage / River Habitat

£0

0

18

Franklyn James

£1,559,995

3

30

Hunter & Bloomfield

£0

0


>> 90 DAY SOLD STC / UNDER OFFER <<

PAGE 37

BACK TO CONTENTS MENU ALL OTHER AGENTS BY TOTAL VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY TOTAL VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

30

Campbell Residential

£0

0

30

Hox City / Property Matters

£0

0

30

Stonewater Property

£0

0

30

Square Mile

£0

0

30

Ranson UK / LPS Direct

£0

0

30

Wilson & Co

£0

0

30

Guy Salmon Estates

£0

0

30

Aston Knights

£0

0

30

Metropolitan and Crown

£0

0

30

Royal Docks

£0

0

30

Archers / Ivory & Hatton

£0

0

30

Martin & Co

£0

0

30

Property Match London

£0

0

30

Century 21 Canary Wharf

£0

0

30

Lineas Estate Agents

£0

0

30

Avant-Garde

£0

0

30

Ruyi Property Service

£0

0

30

Got Your Property

£0

0

30

Chattels of London

£0

0

30

Jack Barclay Estates

£0

0

30

LTV Estates

£0

0

30

ProCities Estate Agents

£0

0

30

Icon Realty

£0

0

30

TerraFirma Property Services £0

0

30

Robinson Marsh

£0

0

30

Life Residential

0

£0


>> 90 DAY SOLD STC / UNDER OFFER <<

PAGE 38

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES RANKING

AGENT NAME

TOTAL VALUE

ALL OTHER AGENTS BY AVERAGE VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

6

Jameson Knight

£485,950

1

19

Elizabeth Pryce

£349,165

6

7

Jones Lang LaSalle

£437,433

9

20

Atkinson McLeod

£345,712

4

8

Estates and Lets

£425,000

1

21

Your Move

£336,213

4

9

Landmark Estates

£422,499

4

22

Foxtons

£330,667

35

10

Chase Evans

£419,226

13

23

Jacob Fox

£330,000

1

11

Rubicon Estate Agents

£417,500

7

24

Alan Selby & Partners

£291,864

8

12

Felicity J Lord

£403,976

27

25

Alex Neil

£290,730

68

13

Lourdes Estate Agents

£402,221

9

26

Field & Sons

£269,950

1

14

Holland Properties

£386,910

8

27

Alphabet City

£260,000

1

15

Skampi

£375,000

1

28

Docklands Real Estate

£259,996

4

16

Hurford Salvi Carr

£368,125

8

29

London Link

£155,000

1

17

Ashley King

£367,897

12

30

Vantage / River Habitat

£0

0

18

Vanet

£353,750

4

30

Hunter & Bloomfield

£0

0


>> 90 DAY SOLD STC / UNDER OFFER <<

PAGE 39

BACK TO CONTENTS MENU ALL OTHER AGENTS BY AVERAGE VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES RANKING

TOTAL VALUE

AGENT NAME

ALL OTHER AGENTS BY AVERAGE VALUE OF LAST 90 DAYS SOLD STC / UNDER OFFER PROPERTIES

NUMBER OF PROPERTIES

RANKING

TOTAL VALUE

AGENT NAME

NUMBER OF PROPERTIES

30

Campbell Residential

£0

0

30

Robinson Marsh

£0

0

30

Stonewater Property

£0

0

30

Hox City / Martin & Co

£0

0

30

Ranson UK

£0

0

30

Life Residential

£0

0

30

Guy Salmon Estates

£0

0

30

Square Mile

£0

0

30

Metropolitan and Crown

£0

0

30

Wilson & Co

£0

0

30

Archers / LPS Direct

£0

0

30

Aston Knights

£0

0

30

Ivory & Hatton

£0

0

30

Royal Docks

£0

0

30

Property Match London

£0

0

30

Century 21 Canary Wharf

£0

0

30

Lineas Estate Agents

£0

0

30

Avant-Garde

£0

0

30

Ruyi Property Service

£0

0

30

Got Your Property

£0

0

30

Chattels of London

£0

0

30

Jack Barclay Estates

£0

0

30

LTV Estates

£0

0

30

ProCities / Property Matters £0

0

30

Icon Realty

£0

0

30

TerraFirma Property Services £0

0


>> 90 DAY SOLD STC / UNDER OFFER << BACK TO CONTENTS MENU

PAGE 40

ANALYSIS:

The ‘90 Day Market Share’ metric is identical to the ‘Months SOLD STC / Under Offer Market Share’ metric except for the obvious longer period of time the metric is measured. This assists in seeing potential trends on a 3 month rolling timescale. Continuing from the ‘Months SOLD STC / Under Offer Market Share’, questions to consider include, how long is taking to sell properties on average? Are particular types of properties selling better? What sold price to asking price is being achieved? All this information ensures you are keeping your finger on the pulse as an Estate Agency Owner / Director / Sales Manager to analyse trends and take appropriate action to either improve performance or prevent negative strategies.

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


>> TIME ON MARKET ANALYSIS << BACK TO CONTENTS MENU

PAGE 41

TIME ON MARKET ANALYSIS - LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY: How long is it taking you to sell a property? In our Time on Market Analysis we look at how long each Agent is listing properties for. We have broken down the Time on Market Analysis into two metrics: The longest an individual property has been on the market and the average time on market across all properties.

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY RANKING

AGENT NAME

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY

NUMBER OF DAYS

RANKING

AGENT NAME

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY

NUMBER OF DAYS

RANKING

AGENT NAME

NUMBER OF DAYS

1

River Habitat

1,699

10

Campbell Residential

555

21

Landmark Estates

357

2

Vantage

1,677

12

Felicity J Lord

548

22

Knight Frank

336

3

Foxtons

1,488

13

Lourdes Estate Agents

523

23

Ivory & Hatton

328

4

Property Matters

1003

14

Guy Salmon Estates

449

24

Ranson UK

308

5

Docklands Real Estate

824

15

Your Move

438

25

Savills

297

6

Hunter & Bloomfield

759

16

Ashley King

436

26

London Link

290

7

Archers

660

17

Vanet

416

27

Estates and Lets

263

8

Stonewater Property

619

18

Franklyn James

394

28

Holland Properties

241

9

Chase Evans

557

19

Chesterton Humberts

389

29

LTV Estates

231

10

Alan Selby & Partners

555

20

Elizabeth Pryce

364

30

Field & Sons

217


>> TIME ON MARKET ANALYSIS << BACK TO CONTENTS MENU

PAGE 42

TIME ON MARKET ANALYSIS - LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY: How long is it taking you to sell a property? In our Time on Market Analysis we look at how long each Agent is listing properties for. We have broken down the Time on Market Analysis into two metrics: The longest an individual property has been on the market and the average time on market across all properties.

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY RANKING

AGENT NAME

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY

NUMBER OF DAYS

RANKING

AGENT NAME

LONGEST TIME ON MARKET FOR AN INDIVIDUAL PROPERTY

NUMBER OF DAYS

RANKING

AGENT NAME

NUMBER OF DAYS

31

Metropolitan and Crown

198

41

Ruyi Property Service

122

51

Wilson & Co

50

32

LPS Direct

194

42

Rubicon Estate Agents

121

52

Aston Knights

39

33

Jones Lang LaSalle

192

43

Hox City

88

53

Royal Docks

38

34

Atkinson McLeod

171

44

Lineas Estate Agents

86

54

Martin & Co

24

35

Property Match London

171

45

Alex Neil

78

55

Century 21 Canary Wharf

19

36

Alphabet City

161

46

Life Residential

65

56

Avant-Garde / TerraFirma

N/A

37

Hurford Salvi Carr

155

47

Square Mile

65

56

Got Your Property

N/A

38

Chattels of London

145

48

Icon Realty

65

56

Jack Barclay Estates

N/A

39

Henry Wiltshire

137

49

Robinson Marsh

65

56

Jameson Knight

N/A

40

Jacob Fox

127

50

Skampi

57

56

ProCities Estate Agents

N/A


>> TIME ON MARKET ANALYSIS << BACK TO CONTENTS MENU

PAGE 43

TIME ON MARKET ANALYSIS - AVERAGE TIME ON MARKET: How long is it taking you to sell a property? In our Time on Market Analysis we look at how long each Agent is listing properties for. We have broken down the Time on Market Analysis into two metrics: The longest an individual property has been on the market and the average time on market across all properties.

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE RANKING

AGENT NAME

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE

NUMBER OF DAYS

RANKING

AGENT NAME

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE

NUMBER OF DAYS

RANKING

AGENT NAME

NUMBER OF DAYS

1

Vantage

1,322

11

Field & Sons

217

21

Ivory & Hatton

125

2

Hunter & Bloomfield

388

12

Metropolitan and Crown

198

22

Property Match London

121

3

Property Matters

379

13

Lourdes Estate Agents

192

23

Felicity J Lord

119

4

River Habitat

323

14

Vanet

184

24

Elizabeth Pryce

108

5

Campbell Residential

260

15

Foxtons

181

25

Ashley King

106

6

Stonewater Property

256

16

Archers Sales & Lettings

167

26

London Link

102

7

Ranson UK

246

17

Franklyn James

166

27

Alphabet City

101

8

Guy Salmon Estates

240

18

Landmark Estates

159

28

Chesterton Humberts

98

9

Docklands Real Estate

238

19

LPS Direct

140

29

Jacob Fox

89

10

Your Move

221

20

Estates and Lets

137

30

Jones Lang LaSalle

86


>> TIME ON MARKET ANALYSIS << BACK TO CONTENTS MENU

PAGE 44

TIME ON MARKET ANALYSIS - AVERAGE TIME ON MARKET: How long is it taking you to sell a property? In our Time on Market Analysis we look at how long each Agent is listing properties for. We have broken down the Time on Market Analysis into two metrics: The longest an individual property has been on the market and the average time on market across all properties.

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE RANKING

AGENT NAME

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE

NUMBER OF DAYS

RANKING

AGENT NAME

AVERAGE TIME ON MARKET ACROSS ALL PROPERTIES FOR SALE

NUMBER OF DAYS

RANKING

AGENT NAME

NUMBER OF DAYS

31

Lineas Estate Agents

86

40

Icon Realty

65

51

Aston Knights

39

32

Savills

84

40

Robinson Marsh

65

52

Rubicon Estate Agents

37

33

Ruyi Property Service

83

43

Hurford Salvi Carr

59

53

Royal Docks

29

34

Chattels of London

80

44

Alex Neil

58

54

Martin & Co

20

35

Knight Frank

76

45

Hox City

57

55

Century 21 Canary Wharf

19

36

LTV Estates

75

45

Skampi

57

56

Got Your Property

N/A

37

Atkinson McLeod

72

47

Henry Wiltshire

47

56

Jack Barclay Estates

N/A

38

Alan Selby & Partners

71

48

Life Residential

44

56

Jameson Knights

N/A

39

Chase Evans

70

49

Square Mile

41

56

ProCities Estate Agents

N/A

40

Holland Properties

65

50

Wilson & Co

40

56

TerraFirma / Avant-Garde

N/A


>> TIME ON MARKET ANALYSIS << BACK TO CONTENTS MENU

PAGE 45

ANALYSIS:

The ‘Time on Market’ metric is useful for measuring average time on market. Used with all other metrics a clear picture will be seen as to what is selling, sticking to the market or being withdrawn. Comparing against other Estate Agents average ‘Time on Market’ assists you determine whether you are within the average or above or below. This can help with planning, winning instructions and marketing strategies. Deeper analysis can be made by breaking down properties into type, for example one bedrooms, two bedrooms, three bedrooms etc. In E14, you can even look at specific developments or whether properties on lower floors or higher floors take longer to sell than others. As an aside, time in itself can be used to measure other metrics, for example, how long is it taking negotiators to get to certain properties.

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


>> CYS™ -CLAIM YOUR SALES << BACK TO CONTENTS MENU

PAGE 46

INTRODUCING CYS™ -CLAIM YOUR SALE Each month Land Registry releases their latest data on registered properties. This is normally produced at the end of the month and the data is for the preceding month. For example, in the latest data provided on the 29th August 2012, the data related to the month of July 2012. Agent Metrics has launched a ground-breaking system which will allow Estate Agents to claim their sales once the data is released. Agent Metrics will be promoting this across our various marketing channels, including our ‘Agency Ratings Reports’ made available to property owners considering instructing a specific Estate Agent over another. We all know property owners typically invite 3 Agents to come round and give them valuations. Until recently, a property owner has related on the pitch, perhaps word of mouth and some research they would have done online. To aide them in their decision making process, we will be providing detailed Head to Head Ratings Analysis for each other and how they compare against another Estate Agent. You can benefit greatly by claiming your sales. Imagine going to a valuation where three other Estate Agents having been invited. It gets to the crux of who should they instruct and the property owners says “So Mr / Ms. Estate Agent, why should I instruct you?”. In addition to your usual response, you can strength your reasoning behind being instructed with the data in this report and by showing the property owner an independently produced analysis and comparison report how you are better than another Estate Agent statistically. Of course this assumes you are actually ranked better than the other Estate Agent. HOW DO WE CLAIM OUR SALES? Very simple. Each month, typically the 1st of every month, we’ll send you a spreadsheet listing the latest registered data from Land Registry. You can go through the list and claim any properties that were sold by your Estate Agency. In order for it to be verified, we will require a copy of the Sales Memorandum to be emailed [cys@agentmetrics.co.uk] or fax [0207 183 0211] to us. We will then contact the Sellers Solicitors to verify that you were indeed the Estate Agent responsible for the sale. All verified claimed sales will be noted with our verified sign, allowing property owners to see and acknowledge that you were responsible for the sale. Please ensure that all claims are received by the 5th of every month, to ensure time is giving to verify and include in your Estate Agency Market Share Analysis for that month. The Estate Agency Market Share Analysis is delivered to all Estate Agents that have subscribed by the second Thursday of every month.


>> LATEST LAND REGISTRY DATA << BACK TO CONTENTS MENU LATEST LAND REGISTRY DATA [RELEASED 29th AUGUST 2012]:

SOLD PRICE

PAGE 47

PRICES FROM £480,000 TO £1,750,000

ADDRESS

POSTCODE

SOLD PRICE

ADDRESS

POSTCODE

£1,750,000 Flat 22, Keepier Wharf, Narrow Street,

E14 8DH

£625,000 5 Montague Place

E14 0EX

£1,380,000 Flat 4401 Landmark East Tower, 24 Marsh Wall

E14 9EG

£600,500 Flat 34, Victoria Wharf, 46 Narrow Street

E14 8DD

£950,000 Flat 2903, Landmark West Tower, 22 Marsh Wall

E14 9AL

£600,000 Flat 3001, Landmark East Tower, 24 Marsh Wall

E14 9EB

£940,000 Flat 83, Anchorage Point, 42 Cuba Street

E14 8NF

£570,000 Studio 9, 46 Morris Road

E14 6NQ

£730,000 Flat 182, Discovery Dock East, 3 South Quay Square

E14 9RZ

£550,000 Apartment 452, 12 Baltimore Wharf

E14 9FG

£710,000 Flat 260, Berglen Court, 7 Branch Road

E14 7JZ

£545,000 Apartment 448, 12 Baltimore Wharf

E14 9FG

£710,000 Flat 16, Aphrodite Court, Homer Drive

E14 3UE

£535,000 Flat 501, 3 Pan Peninsula Square

E14 9HN

£710,000 Flat 2202, Streamlight Tower, 9 Province Square

E14 9DW

£515,000 Flat 27, Naxos Building, 4 Hutchings Street

E14 9JR

£675,000 Flat 2201, Streamlight Tower, 9 Province Square

E14 8DW

£510,000 Flat 503, East Tower, 3 Pan Peninsula Square

E14 9HN

£675,000 58 Roy Square

E14 8BY

£499,999 Apartment 329, 4 Baltimore Wharf

E14 9AQ

£650,000 Flat 2407, 3 Pan Peninsula Square

E14 8HQ

£499,999 Flat 4, Old Sun Wharf, 40 Narrow Street

E14 8DG

£636,000 Flat 16, Ares Court, Homer Drive

E14 3UL

£487,500 71 Lockesfield Place

E14 3AJ

£635,000 31 Roy Square

E14 8BY

£480,000 Apartment 729, 4 Baltimore Wharf

E14 9AQ

£625,000 Flat 23, 8 Selsdon Way

E14 9GR

£480,000 Flat 1010, New Providence Wharf, 1 Fairmont Avenue

E14 9PB


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SOLD PRICE

ADDRESS

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PRICES FROM £378,500 TO £480,000

POSTCODE

SOLD PRICE

ADDRESS

POSTCODE

£480,000 Apartment 1201, Iona Tower, 33 Ross Way

E14 7GG

£410,000 Flat 2202, 3 Pan Peninsula Square

E14 9HQ

£479,000 Flat 96, Secon Tower, 5 Hutchings Street

E14 8JX

£405,000 Flat 141, Discovery Dock East, 3 South Quay Square

E14 9RZ

£477,500 6 Napier Avenue

E14 3QB

£401,000 5 Mercator Place

E14 3QD

£462,500 Flat 2002, Streamlight Tower, 9 Province Square

E14 9DW

£400,000 Flat 139, 3 Limeharbour

E14 9LU

£440,000 Flat 92, Naxos Building, 4 Hutchings Street

E14 8LE

£399,999 36 Capstan Square

E14 3EU

£440,000 Flat 105, Dundee Wharf, 100 Three Colt Street

E14 8AY

£397,500 Flat 52, Tequila Wharf, 681 Commercial Road

E14 7LG

£440,000 Flat 232, Waterman Building, 14 Westferry Road

E14 8NG

£395,000 Apartment 1053, 12 Baltimore Wharf

E14 9FT

£436,000 Flat 67, Medland House, 11 Branch Road

E14 7JT

£395,000 Flat 19, Turner House, Cassilis Road

E14 9LJ

£435,000 22 Ironmongers Place

E14 9YD

£389,500 Flat 29, Lamb Court, 69 Narrow Street

E14 8EJ

£430,000 Flat 50, Arnhem Wharf, 2 Arnhem Place

E14 3RU

£388,000 50 Coldharbour

E14 9NS

£430,000 Apartment 2102, One WIQ, 26 Hertsmere Road

E14 4EF

£385,000 Plot 373, Galaxy Building, 5 Crews Street

E14 3SP

£425,000 150 Telegraph Place

E14 9XD

£382,000 Flat 3307, Landmark East Tower, 24 Marsh Wall

E14 9EG

£416,130 Apartment 247, 12 Baltimore Wharf

E14 9FG

£380,000 Flat 32, Lowry House, Cassilis Road

E14 9LL

£410,000 Flat 40, Naxos Building, 4 Hutchings Street

E14 8JR

£378,500 Flat 37, Galaxy Building, 5 Crews Street

E14 3SP


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SOLD PRICE

ADDRESS

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PRICES FROM £310,000 TO £375,000

POSTCODE

SOLD PRICE

ADDRESS

POSTCODE

£375,000 5 Rotterdam Drive

E14 3JA

£338,000 Flat 14, Tasman Court, 244 Westferry Road

E14 3QJ

£370,000 6 Inglewood House

E14 9WL

£330,000 Flat 21, Kingsbridge Court, 1 Dockers Tanner Road

E14 9WB

£366,667 Flat 1410, Landmark West Tower, 22 Marsh Wall

E14 9AH

£327,000 Flat 48, Vermeer Court, 1 Rembrandt Close

E14 3XA

£366,130 Apartment 748, 12 Baltimore Wharf

E14 9FG

£325,000 Flat 8, Mission Building, 747 Commercial Road

E14 7LE

£365,000 Flat 206, Chart House, 6 Burrells Wharf Square

E14 3TN

£320,000 Flat 13, 100 Salmon Lane

E14 7PQ

£363,000 Flat 25, Naxos Building, Hutchings Street

E14 8JR

£320,000 Flat 1801, Cascades Tower, 4 Westferry Road

E14 8JW

£360,000 Flat C205, Port East, 16 Hertsmere Road

E14 4AX

£320,000 140 Wheat Sheaf Close

E14 9UY

£360,000 40 Manchester Grove

E14 3BG

£318,000 Flat 7, Wingfield Court, 4 Newport Avenue

E14 2DR

£360,000 Flat 1401, Landmark West Tower, 22 Marsh Wall

E14 9AH

£315,000 Flat 223, New Providence Wharf, 1 Fairmont Avenue

E14 9PL

£360,000 Flat 108, Wharfside Point South, 4 Prestons Road

E14 9EL

£315,000 68 Island Row

E14 7HU

£350,000 21 Friars Mead

E14 3JY

£315,000 Flat 402, Denison House, 20 Lanterns Way

E14 9JJ

£350,000 Apartment 308, Caspian Apartments, 5 Salton Sq

E14 7GJ

£313,000 Flat 105, Mission Building, 747 Commercial Road

E14 7LE

£340,000 Flat 98, 3 Limeharbour

E14 9LU

£310,000 Flat 34, Aurora Building, 164 Blackwall Way

E14 9NZ

£340,000 Flat 509, Landmark West Tower, 22 Marsh Wall

E14 9AF

£310,000 Flat 921, New Providence Wharf, 1 Fairmont Avenue

E14 9PJ


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SOLD PRICE

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PRICES FROM £250,000 TO £310,000

ADDRESS

POSTCODE

SOLD PRICE

ADDRESS

POSTCODE

£310,000 Flat 402, Lime View Apartments, 2 John Nash Mews

E14 7GQ

£278,000 Flat 333, Denison House, 20 Lanterns Way

E14 9JG

£307,000 Flat 324, New Providence Wharf, 1 Fairmont Avenue

E14 9PL

£274,000 89 Wheat Sheaf Close

E14 9UY

£305,000 Apartment 743, 12 Baltimore Wharf

E14 9FG

£272,500 Flat 35, Slipway House, 2 Burrells Wharf Square

E14 3TD

£297,500 Flat 217, Denison House, 20 Lanterns Way

E14 9JG

£272,500 24 Tideway House, Strafford Street

E14 8LX

£297,000 Flat 606, 1 Indescon Square

E14 9DQ

£270,000 Flat 64, Constable House, Cassilis Road

E14 9LH

£295,000 91, Orion Point, 7 Crews Street

E14 3TX

£268,000 24 Boardwalk Place

E14 5SE

£293,500 33 George Square

E14 8DL

£267,000 Flat 11, Kiln Court, 18 Newell Street

E14 7JP

£290,000 Flat 17, Oriana House, 10 Victory Place

E14 8BQ

£265,000 Flat 310, Chart House, 6 Burrells Wharf Square

E14 3TN

£286,500 Flat 9, 52 Stainsby Road

E14 6JZ

£260,000 Flat 908, Ontario Tower, 4 Fairmont Avenue

E14 9JA

£285,000 Flat 31, Van Gogh Court, Amsterdam Road

E14 3UY

£260,000 Flat 22, Windmill House, 146 Westferry Road

E14 3ED

£285,000 Flat 105, Wharfside Point South, 4 Prestons Road

E14 9EL

£250,000 17 Cheval Street

E14 8QE

£282,378 Apartment 828, 4 Baltimore Wharf

E14 9AQ

£250,000 46 Coldharbour

E14 9NT

£280,000 Flat 233, Denison House, 20 Lanterns Wyat

E14 9JG

£250,000 Flat 1403, Ontario Tower, 4 Fairmont Avenue

E14 9JB

£280,000 Flat 1009, 1 Pan Peninsula Square

E14 9HD

£250,000 Flat 41, 3 Limeharbour

E14 9LS


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SOLD PRICE

ADDRESS

PAGE 51

PRICES FROM £195,000 TO £250,000

POSTCODE

SOLD PRICE

ADDRESS

POSTCODE

£250,000 Flat 63, 3 Limeharbour

E14 9LS

£238,000 Flat 2, Cadnam Lodge, 34 Schooner Close

E14 3GQ

£250,000 Flat 10, 100 Salmon Lane

E14 7PQ

£237,500 20 Caravel Close

E14 8PD

£250,000 Flat 301, Taylor House, 3 Storehouse Mews

E14 8GS

£237,000 606A Commercial Road

E14 7HS

£249,000 13 Norbiton Road

E14 7TF

£236,250 Flat 405, 1 Indescon Square

E14 9DQ

£248,000 Apartment 103, Iona Tower, 33 Ross Way

E14 7GG

£220,000 100 Glengarnock Avenue

E14 3BP

£247,500 D404 Carmine Wharf, 30 Copenhagen Place

E14 7FE

£218,000 51 Topmast Point

E14 8SN

£247,000 74 Stebondale Street

E14 3BX

£216,781 Apartment 102, Caspian Apartments, 5 Salton Sq

E14 7GJ

£245,000 Flat 10, Fawley Lodge, 1 Millennium Drive

E14 3GA

£215,000 Flat 11, Cedar House, Manchester Road

E14 3PA

£242,500 Flat 6, Garland Court, 1 Premiere Place

E14 8SA

£215,000 41 Zetland Street

E14 6PR

£240,000 Flat 22, Mercury Court, Homer Drive

E14 3UF

£212,500 Flat 110, Mission Building, 747 Commercial Road

E14 7LE

£240,000 Flat 7 Valiant House, Pelvna Street

E14 3PF

£210,000 Flat 57, Express Wharf, 3 Hutchings Street

E14 8JP

£240,000 Flat 6, 100 Salmon Lane

E14 7PQ

£203,000 Flat 81, 187 East India Dock Road

E14 0EF

£240,000 Flat 58, Vickery’s Wharf, 87 Stainsby Road

E14 6JS

£200,000 80 Chadbourn Street

E14 6QP

£238,000 27 Pioneer Close

E14 6BF

£195,000 28 Carron Close

E14 6NN


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CLAIM YOUR SALES TODAY WITH OUR CYS™ SYSTEM

PRICES FROM £149,500 TO £194,000

SOLD PRICE

ADDRESS

POSTCODE

£194,000 Ground Floor Flat, 40A East India Dock Road

E14 6JJ

£185,000 Flat 21, Charlesworth House, Dod Street

E14 7EE

£169,950 Apartment 106, Caspian Apartments, 5 Salton Sq

E14 7GJ

£161,000 36 Saracen Street

E14 6HW

£149,500 Flat 41, Essex House, Giraud Street

E14 6LD

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ANALYSIS:

The ‘Latest Land Registry Data’ is not so much a metric as it is purely information that is being represented of the properties registered at Land Registry. All data can be analysed and this is where we encourage all Estate Agents to use our CYS™ [Claim Your Sales] system, to claim any properties they have sold. When this is done we can begin to measure, officially, which Estate Agents are selling what properties and who is selling the most. We will naturally try to cross reference with some of the data we collate, however the Estate Agent officially claiming the sale, allows us to verify our data. An obvious metric to measure is the average sales price, which is simply calculated by the number of registered transactions by the registered price. In the latest data the average price for E14 is £383,788.

INSIGHT:

Your analysis should give you some initial insight insight. Remember, analysis is a constant loop, that is, once you have analysed, measured, ‘strategised’ and executed, you then start the loop again. An initial Analysis gives you what we like to call First Insight Insight. This sets the benchmark, good or bad. First Insight is the preliminary result after analysis and forms the basis of the objective to create a plan to better those initial results over a given period of time. First Insight can also reveal some interesting aspects of your business and even staff members, if the initial analysis is carried out on staff members. Any business has over 100 different metrics that can be measured and which provide insight to help the business owner or Manager develop strategies, based on the new knowledge.

STRATEGY:

Are you strategic or tactical? The answer is you should be both. You should be strategic first, then tactical. A strategy is a plan of action designed to achieve a major or overall aim. In the book Exploring Corporate Strategy Strategy, the authors Johnson and Scholes, recommend you ask yourself the following questions: Where is the business trying to get to in the longer term? Which markets (even Estate Agency has markets e.g. type of property market or value of property market) should a business compete in and what kind of activities are involved in such markets? How can the business perform better than the competition in those markets? What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? What external, environmental factors affect the businesses’ ability to complete?

TACTICS:

We define being tactical as executing the strategy. Being a tactician without strategy is the cause of many failings. There is however a large debate about whether a great strategy and poor execution is better than a poor strategy and excellent execution. execution Our view is focus on being great at both. In your Estate Agency business once you have analysed, received your insight and developed your strategy, you then need to execute it. By executing we mean taking action. Again, the execution will need to be constantly measured and will also need to be consistent. Taking action in Estate Agency could be making more telephone calls, sending ‘welcome to your new home’ cards for every new buyer (or tenant), sending thank you cards to every seller who uses your services, do more viewings etc. But remember to measure everything.


E14 Estate Agent Market Share Analysis August 2012