Connells sells stake in Rightmove

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In a dramatic move on the stockmarket, estate agency Connells has today sold its 18% stake in property search website operator Rightmove.

Connells is reported to have sold 21.2 million shares in the company at 155 pence each - realising about £32.9million.

Rightmove shares dropped on the news - falling 16% (20p) at 163 pence by 11.30am.

With many estate agents already frustrated by the website does this sell-off signal the beginning of the end for Rightmove? Tell us what you think using the comment section below

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OFT to seek views ahead of estate agency market study

The Office Of Fair Trading (OFT) intends to launch a market study into home buying and selling, looking at traditional estate agency models and alternative ways of buying and selling homes.

ImageAhead of this, the OFT is writing to stakeholders to ask for their views and engage with them to discuss the scope and scale of the study, which will commence in early 2009.

The OFT proposes that the market study should take a comprehensive look at home buying and selling in terms of:

* Competition on price and quality between service providers;
* Prospects for new entry by, in particular, internet property retailers, and;
* Extent to which consumer interests are protected by the existing regulatory framework.

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RLA: Culture of home ownership pushes millions into debt

The culture of home ownership, as an ideal lifestyle, has pushed millions of people into unnecessary debt – according to the Residential Landlords Association.

ImageBecause the belief that it is the only "done thing" to own your own home ignores the reality that many people just cannot afford to buy a house.

Instead, the housing market would be better served by increasing the number of properties for rent.

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Pawnbroker increases upper limit of loan range to £1m

Borro.com, the UK online pawnbroker is increasing the upper limit of its loan range to £1million to meet the increasing demand from home owners, business owners, property developers and city financiers for liquidity-on-demand.

ImageWith the Government's bank bail-out yet to affect any real change in credit availability - to even the most credit-worthy - Borro.com said it was doubling its loan book every month.

In the last two months Borro.com has seen a significant increase in business owners, property developers, and city financiers plugging their credit short-falls by securing loans of £10,000-plus against fine jewellery, high-end Swiss watches, luxury cars including Ferraris, Bentleys and Lambourghinis, fine art and even yachts.

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upad CEO predicts 25% renting increase for 2009

Renting a home in the UK will no longer be a taboo in 2009, according to James Davis, founder and CEO of online property rental website www.upad.co.uk.

ImageHe predicts that the UK property market is heading towards the European model where it is common for people to rent, as opposed to buy somewhere to live.

Davis sees various factors contributing to this trend:

• The UK will see interest rates fall still further than the 57-year low of 4 December 2008;
• Rents will also stabilise (having fallen 8% in the past year);
• House prices will continue to fall, potentially by another 15%.

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Running A Multi-discipline Agency – Using Technology To Maximise Opportunities

Technology has changed the face of the property agency business almost beyond recognition in the last decade. But it is only now, in the current economic downturn, that the true value of these developments can be assessed fully. The internet, without question, has had the most dramatic impact on the way properties are marketed.

ImageUntil ten years ago an agency's front window and perhaps a page or two in the local newspaper was the traditional tried-and-trusted formula that kept businesses ticking over.

That exploded with the development of the web. Now the shop window could be seen by anyone, at anytime, anywhere in the world.

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Eurolink, Edward Mellor and Veco-oneauctions™

The economic downturn may be hitting the property market in general – but Eurolink is offering a much-needed opportunity for residential agencies to reverse the slump by capitalising on the booming auctions sector.

ImageEurolink's Veco-oneacutions™ is a sophisticated CRM application which not only allows agents to list properties, register applicants, match and mail – but also offers powerful and wide-ranging additional functionality tailored specifically to auction agencies' precise needs.

The key to Veco-oneacutions™ is that the system can both handle and process more detail directly relating to the requirements of properties going into auction – not just record reserve prices.

Key functionality of Veco-oneacutions™ includes:

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Eurolink Software: Told & Sold™

Property agencies struggling with the market downturn now have a CRM lifeline that could help give them an edge to stay out of financial trouble.

ImageTold & Sold™ from www.eurolink.co allows sales and lettings agents to maximise revenues by alerting them to every potential "up-sell" opportunity at any given time for each contact - from property owner to landlord, tenant to applicant. Developer Eurolink is introducing Told & Sold™ as part of its highly-successful range of Veco™ products.

Told & Sold™ will be available as a FREE update to existing Veco™ users from 2 June 2008.

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TalkAgency is for everyone and anyone who has an interested in the latest property related news and articles. 

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