1. Why did you decide to go into the property market?
I originally became an Estate Agent at 19 years old as I wasn't working and a friend of mine was leaving her job and suggested I went for an interview. I loved it and was good at it so never looked back from there. I opened Hearnes with my wife in 1996 so have worked through good and bad times both of which have been both satisfying and challenging. We now have 5 branches and are market leaders in the Bournemouth and surrounding areas due to personal service and hard work.
2. What does your firm do differently?
We still believe in traditional values, still use the telephone and face to face contact as our main communication methods combined with cutting edge technology to maximise marketing. Our main aim is to advertise heavily in the best possible advertising vehicles ensuring maximum exposure which in turn ensures quick sales at appropriate prices. Combined with high levels of communication and personal service our clients continue to be more than satisfied which results in much of our business coming from recommendations and repeat clients.
3. Firms like emoov are suggesting that the ‘high street is dead’, would you agree?
Absolutely not. There is a place for Internet agents but when you're dealing with the most valuable asset you are ever likely to own it is most people still want to be able to pop in for a chat. Email is great to confirm details but face to face communication is by far and away the only way that a message can be fully understood. It's good to look someone in the eye and know they are knowledgable and honest. You just can't do that with Internet shopping.
4. How did the introduction of MMR affect business?
We had a record year in 2015 and continue to set records this year. The MMR has slowed transaction time considerably but providing one has patience and communicates the progress to your clients the transactions still go through; just about four weeks longer that previously on average. The MMR was essential to ensure stability in the house market prices and should help to avoid future boom and bust situations. As long as the prices go up in line with salaries we should enjoy much more acceptable market conditions long into the future. Hopefully this will also help future generations get into the market at acceptable levels rather than the current situation of 'generation rent' which I have enormous sympathy for. When lenders were lending 100%+ mortgages at 7 times income it completely falsified values of properties and has caused two recessions. The current government has at last realised that stability is far better than boom.
5. How would you say the sales process differentiates between a typical FTB and an experienced landlord?
The FTB has to rely on getting the best advice from those involved in the process whereas the landlord can make their own decisions more easily. My best advice to FTBs is employ a good quality local solicitor that you can go and meet. Don't be afraid to pay a bit more for them, they're worth it! Also deal with people face to face so you can trust them. Mortgage brokers fit in the same advice spectrum as they can save you a great deal of money over the next 25 years.
6. Would you say it is a buyer’s or seller’s market at the moment?
Neither and both. It's just a great time to move. Prices are steady so there's not as much pressure in the market as one that's rising or falling sharply. It's much easier to learn about prices and you have more time to make decisions. For sellers it's great as homes are all selling if they're sensibly priced and it's okay to break a chain by renting if needs be as you're not losing money by stepping out of the market for short periods.
7. Where should I buy this year?
As close to AFC Bournemouth football ground as possible! Otherwise my advice as always is to buy where you want to live for the next few years. Look at your property as your home not just an investment opportunity and you'll enjoy it so much more
