Letters to the Editor


Pink acquisition raises some interesting issues Discuss industry topics, respond to letters, or start new discussions Sir,


Letter of the month


Regarding your recent story on the acquisition of Pink Home Loans by LSL; I think that LSL is an interesting company given that it is acquisitive at a time when caution might seem to be a better policy. Its crystal balls must be huge, smear free, and very accurate. I’m not sure anyone else would be so certain that piling it high at this stage of the economic cycle - especially given the absence of any obvious direction for the broker market - is a long-term success story.


I suppose that in times of turbulence, the bold make hay, but then the meek inherit the earth.


At this rate, they’ll make an attracive takeover target. That can’t be the strategy could it?


Name and address supplied Sir,


I looked at the recent acquisition of Pink Home Loans and I think LSL is more interested in the client bank than mortgage brokers. In my opinion they know brokers are a dying


breed as lenders continue to shift distribution away fron brokers and more to direct only. The headlines of brokers and packagers forced to shut up shop are ramping up. LSL is a profitable and forward thinking company - I like it. No doubt, access to the database of properties and mortgages would be a huge advantage for LSL as estate agents and for its financial services arm and this is a good example of how a financial services firm should be thinking in the current climate - accessing warm existing clients is more responsive and efficient, rather than trying to acquire new clients.


AGENT TRACKER COULD PUT AN END TO ROGUE COWBOY ESTATE AGENTS


Sir,


When I first learnt that ‘Agent Tracker’ was to be coming to the market, I asked myself two questions. Firstly, is it a service that the public would use if they knew about it? Secondly, knowing that these things are tough to get off the ground what chance of success would it have? Well, for the public to have a site to rate estate agents on certainly ticks the box, and then when I knew that not only was it Amanda & Martin Wilson fronting it, but also two good experienced friends of theirs as well in John Malone and Martin Reynolds, how could it fail if these were working together on it? (Apologies to Simon Dejemil as I do not think our paths have crossed, but he must be good to be in the team). In my opinion this could really catch on once estate agents, who highly value their service, become aware of it. It will certainly be to their advantage to be registered with Agent Tracker as they will see the professional advantage of potential customers being able to see verified information about their service. Hopefully, this site could also see the demise of most cowboy estate agents in the long term, as these would be unlikely to register. But, on the other hand, if unflattering unverified comments are attributed to them on the site and they are not registered, then that will likely sound warning bells to any potential vendor or purchaser about the service and fairness of that estate agent.


Further down the line I can see an add-on opportunity for having a similar review site for the


rental market, where not only is the initial lettings important, but the way in which an agent will manage the property if having the full management responsibility. Promoting the public awareness of the site as well as the estate agents will take some time, but with a management team with the enthusiasm and knowledge that they have, who would want to bet against them achieving their aims and objects of promoting this as not only another way of ensuring that estate agents are ‘kept honest’, but a site for the public to refer to before making any further moves in appointing an estate agent to sell their property. Best wishes on the new venture guys – I’m sure it will be a resounding success.


Danny Lovey Basildon, Essex


Then again - I may be completely wrong and they just want more brokers!


Name and address supplied


Letters to the editor are welcome and may be edited for publication. Write to the address on page 3 or email nia@thepublishinggroup.co.uk


26 mortgage introducer NOVEMBER 2010


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