November 2010

ESTATE AGENCY SURVEY 2010

General subject: How has the downturn in the property market since 2008 affected your business in terms of workforce, tools and advertising/marketing?

Name of business: Harrison Murray Estate Agents

Your name and role: Nick Salmon FNAEA (Honoured), Managing Director.

Head Office location: Northampton

Number of offices as at Sept 30, 2010: 15

Number of offices at Sept 30, 2009: 15

How does the way the company works now compare with 12 months ago?

Size of workforce? Approximately the same. Circa 130.

Use of associates (as opposed to employees)?  No

Use of software (e.g. Vebra)?  Bespoke in-house.

Have you imposed any major changes, such as additional services, in light of the downturn in the property market? What downturn?

What has been the reaction (from your company and clients) to HIPs being gone? Relief all round!

Use of advertising media: portal sites, newspapers, etc., specifically:

• Where do you prefer to list and why? Do you list on more than one site? Why? HM list on all major portals including Rightmove and Propertylive.

• Rightmove pushed through a listing price increase. What is your reaction? No comment.

• Are you developing the use of branding options offered on sites? We analyse the options on a continual basis and use branding opportunities as appropriate.

• Are you using newspapers? How frequently? More or less frequently than in 2008? Are publishers raising prices? Any concerns regarding the use of print media? We continue to regularly use printed media in the wide geographic area of HM’s operation. Generally prices have either reduced or stayed flat in the last 12 months.

• How do you intend to change your use of advertising media over  the coming year? Depending on market conditions, the mix will remain similar to that which we have used in the last 12 months.

Any other comments on the current economic situation and how it affects your business?

We closely monitor the political and economic situations but so far as HM is concerned this is a ‘normal’ market and we are getting on with what we do best – successfully selling property for our clients.