Rat and Mouse
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The Rat and Mouse interview - Tracy Kellett, homefinder, on not being a stuffy old duffer called Rupert

Tracy Kellett, of BDI Homefinders, takes the time to talk homesearch, the market and lighting up Twitter, and leaves us with our favourite estate agent joke yet.

So I hear you’ve bought and sold a few homes of your own in your time?

20100226Tracy KellettI’ve moved 26 times since leaving home at 18. Mainly around London and the south of England, but also a very Hicksville part of Southern Texas, the Amish part of Pennsylvania and Chicago. Let’s just say I have a low boredom threshold.

And your background is as an estate agent… what kind of an experience was that? Does it give you more or less “sympathy for the devil”?

I enjoyed the work but was never very good at taking orders, so I knew I was never going to pick up my pension. As a result, though, I strongly believe that a good etate agent can add enormous value, and not just monetary. On the other hand, it has also left me with very little tolerance for the bad eggs and I can be very vocal about that.

When did you start BDI Homefinders? What was the inspiration/impetus? What does the BDI stand for?

About seven years ago an estate agent colleague was selling a house to a very lovely couple who were placing a lot of trust in him. They were paying a good £200k more than they needed to. It left a bad taste. It dawned on me that there were many people like that and that it was a wholly unfair and one-sided market place. Being able to look after buyers’ interests, saving them money and advising them professionally, seemed like the perfect win-win business model. For them and me. BDI’s name came from two thoughts. One, I have no intention of sharing, far too rude. But the other is a pun on ‘beady eye’. At the time, I thought it was really witty. More fool me: no-one ever gets it.

More fun than being an agent?

Read the rest of the interview, including our favourite estate agent joke to date, after the jump.

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God, yes! .... Sorry to sound soppy but people give you their dreams and aspirations to realise, often from a position of desperation. I just adore being thrown their particular problem and finding the solution.

Tell me something about the process… what happens after I sign up with BDI Homefinders?

With all clients we start with at least one day’s orientation where we look at loads of disparate properties. We do this so we can learn from our clients reactions to real properties and to give them a market understanding. After that we will preview everything so they only see what we believe is pretty much perfect. When we have found something we will negotiate best price - a no-holds-barred fight to the best deal death. We then manage the whole buying process until handing over the keys. That last bit can involve all sorts of strange things such as helping to source wind powered generators, ‘living swimming pools’ (don’t ask), white televisions. And most time consuming of all - many hours talking to lawyers, planners and brokers.

Apart from – clearly – the time-starved. Who else should think about employing a professional relocation agent?

You would be surprised at the type of people we work with. There is the horrid impression of buying agents being an elitist service… snotty (let’s be honest). Not true, we work with first-time buyers who want to make sure they make the right decision and get the best deal. Retirees, who haven’t moved for decades. People who just can’t face having to deal with estate agents, who just want to move ‘around the corner’. Time poverty is, strangely, not one of the biggest drivers for people to come to us. But we do have the odd celeb, of course, to keep me amused.

Do you have a favourite success story?

I have never had a client I’ve bought for who when I hand over the keys doesn’t make me feel teary. However, the client who had spent 14 years fighting for compensation for their severely disabled child is probably the most satisfying. All those years in a completely unsuitable home - to find and move them into a purpose built one was wonderful. Lots of tears, lots of champagne.

What about a frustrating “failure”… somebody you couldn’t help?

Ah well, in my early days I did make some mistakes with the clients I took on. Like the chap who wanted a factory in London to hold raves and entertain his girlfriends without disturbing the neighbours. And the eco-warrior who wanted his own water source, but it had to be on the Central Line. Since then, I have become a tad better at understanding which assignments are unachievable.

How did the terrible 2008/2009 market slump affect your day-to-day business?

The 2008 market was really tough. In September 2008 the British buyers literally disappeared overnight. Thankfully, we had a small influx of overseas buyers taking advantage of exchange rates and some bargain basement deals. The British buyers started returning Summer 2009.

Are we in the clear?

Are we in the clear? I believe we are entering a period of stagnation with prices. I don’t see prices rising significantly, if at all, for another three to five years, despite the frenzy in the market at the moment, entirely due to stock shortage. I expect this to dissipate in the next few months, as more property becomes available and silly prices are rejected by lenders and buyers.

Does the mainstream media ever really have a clue about the realities of life working in the property market?

The property market sells papers, Brits are obsessed with it and the media does have a tendency to focus on the extremes. Often it’s either ‘property crash’ or ‘house prices spiralling’ with not much in between. And of course all estate agents are baddies and all buying agents must be called Rupert and only work with celebrities and Arabs. None of this is the day-to-day reality.

You’re a terrific Twitterer, Tracy. Everyone’s sure that new media and social networking are tremendous marketing tools, but – done properly – they take up a lot of time, too. Are the advantages, the gains, measurable? Is your online presence bringing you business?

I started “tweeting” to try to explode the myth that all buying agents are stuffy old duffers with an old school tie and a signet ring and only for the upper echelons. I also wanted to bring a balance to the often biased views from other parts of the industry and the media. I have been astounded however that I am actually getting real clients from people who follow me on Twitter.

Finally, your favourite estate agent joke.

Oh God, this is going to get me into deep doodah. Slow hand-claps and all the stock with subsidence next time I venture into an office. Here’s hoping some Estate Agents have a sense of humour. Why is sex between estate agents and clients prohibited? To prevent clients being billed twice for essentially the same service.

Love it. Thanks so much, Tracy. That was fun.

The Landlord - the Rat and Mouse interview [August 3, 2009]
House Historian - the Rat and Mouse interview [July 31, 2009]
Henry Pryor - the Rat and Mouse interview [July 29, 2009]
Sarah Beeny - the Rat and Mouse interview [July 27, 2009]

Comments

I have to say that the questions were really good and great..!!And I really adore Tracy Kellett for answering those honestly..!!She is indeed an intelligent person..!

http://www.alexneil.co.uk

Posted by estate agents greenwich se10 at April 12, 2010 11:07 AM


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