Diary of an estate agent
MONDAY
A busy start. It's the end of the academic year and parents who bought properties for their student children must decide whether to sell or keep them as an investment. And parents of the new intake are discovering two and three- bedroom terraced houses are in demand. Oxford is expensive, but the capital growth over four years - plus the rental from friends sharing - makes buying a good investment. Some parents are horrified at the condition of some of them: wood-chip wallpaper, Artex ceilings, red and white Seventies kitchens and a 30ft back yard. But if they've been to university themselves, they have fond memories of digs in Jericho.
9.10am. Left message for a client's solicitor to call me.
11.40am Left another message for solicitor to call me.
2.25pm Faxed same solicitor, asking him to ring me.
3.45pm. e-mailed solicitor to ring me.
4.55pm. Rang solicitor to be told he had left for the day.
5pm. Rang my client and advised them to change solicitors.
TUESDAY
First appointment at a terraced 1960s two-bedroom house in Summertown, owned by an Italian lecturer in Greek Classics who is moving to Cambridge. His father is visiting from Italy so the whole conversation had to be translated into Italian. His father's reaction to the news that his son would have to pay three per cent stamp duty on a house over £250,000 needed no translation. Italians gesticulate beautifully.
Back at the office, took a call from yesterday's solicitor, asking why his client had dropped him. I pointed out he was obviously too busy to give my clients his full attention, this transaction was time-sensitive and everyone would have to co-operate to meet the required dates.
Nowadays, I ask my clients if they're sure their solicitor will take my calls and will he be in the office at 4pm on a Friday, or on the golf course?
WEDNESDAY
With five valuations booked, lunch was a sandwich in the car. The second was a turn-of-the-century terrace cottage, where the owner was amazed at our appraisal of a £250,000 selling price, having paid only £140,000 five years ago. Prices have gone up fast in north Oxford as professional couples from London realise they can buy cheaper here, commute three days a week and work from home the other two.
A satisfying end to the day, when I saved a client £25,000 in bridging-loan costs. He has exchanged contracts on a larger Edwardian house through another agent, but his own sale has been delayed. He'd called to say he was going to have to take out the loan. Don't do anything until I talk to the estate agent, I told him. He was relieved when I got back to say his vendor has agreed to delay completion for three months.
THURSDAY
A good start with two new instructions and three offers. But then a worried buyer rang to say her surveyor had found a problem with damp in the basement of the Victorian house she has offered on. The work is likely to cost around £8,000, so after a few more calls, I managed to negotiate a price reduction.
FRIDAY
Went to value a Victorian detached house owned by a typical Oxford academic. They are all brilliant in their field, but often unworldly about property and usually own up to 20,000 books. They were piled everywhere. Suggested he move out half the library before we put it on the market so it doesn't look cramped. A good week... even better when the client who saved on his bridging costs dropped in to ask if I could find a home for a 41-year-old single malt.
Antony Gibson is senior manager at Chancellors, Summertown, Oxford (01865 516161).
