I want to be an Estate Agent

Sleepy_2

Hello Everyone,

I've finally had enough of my IT job and have decided that it is time for a Career change to the world of ....Estate Agency :eek:

Personal Reasons for wanting to be an Estate Agent...
1. I love residential property, viewing houses and flats of all shapes and sizes.
2. I enjoy working with the general public and offering a service that is second to none.
3. I want to be my own boss, and to be able to build up a business that will offer a comfortable lifestyle.

I'm really keen to offer the following to home buyers...

1. Honesty
2. An honest appraisal of the property, with honest suggestions for the seller to make improvements to improve the saleability and price
3. A good knowledge of all homes for sale by everyone in the office.
4. Communication - providing updates for both Sellers and Buyers at every stage - a real end to end service.
5. Accompanied Viewing wherever possible - I dont belive that the average seller knows fully how to "sell" their own home - thats the job of the Estate Agent, but when doing research from other Agents in the area, no-one offers this as standard, and most only have a retired gentleman who simply opens the door to the property.
6. A very good website with many photos, accurate description, and floorplans - with inclusion on Rightmove.
7. Opening Hours too suit prospective purchasers, not just 9-5.
8. A quality service at a very competitive price

I have no real experience of Estate Agency and would appreciate any thought and ideas to starting my 2 year plan to launch my own Estate Agency.

I'm considering enrolling on "Sale of Residential Property" course run by the MOL and offered by the NAEA - next will be the Diploma in "Residential Estate Agency". http://www.mol-openlearning.co.uk/naea/courses/index.htm - Do you think that this course would be worth doing ?

To get some real hands on experience of the business, I plan to quit my job and find work at one of the local Estate Agents to learn how the day to day calls, queries, listings are handled - maybe to start showing potential buyers around properties, before working in the Office for the next year or so ?

Before I fully commit to going down this road :rotfl: should I be considering other factors or barriers to entering the World of Estate Agents ?

Many thanks in Advance.

jobbingmusician

Why not get a weekend job at an EA to get experience (and earn some extra dosh!) to see if you really like it, to help you launch your plan?

I understand they often want w/e staff (as lots of potential buyers want to view then).

mandi

Hi,


can I ask how your going to Fund this idea.. Estate Agencys are very expensive to run, along with all your overheads, youll need at least one other member of staff, you need property details pc equipment, a company car..staff wages , lighting, HUMUNGOUS, telephone bills, "for Sale Boards alone can cost from £40. each, along with the cost of paying someone, to erect them, then go along later and take them down... Then theres your advertising costs..............PHEW!! your talking about at least £ 500.000 a year, and thats just your local paper..


I love Estate Agency, and I know you will too, but it just may be a good idea to work in one for now,before splashing out all that cash

The best of luck


Mandi

Nells

Hiya

I have the same interest and passion about property as you. What about buying into the Remax company, you pay so much to become an Assoicate, self-employed and a small rent for your office space. The money you pay to buy in covers your training, boards, cards etc. What ya think?

Or you could buy a franchise - 60k I think!!

Sleepy_2

Thanks for all your replies... I hope to do as you have suggested, firstly starting with some weekend work with local EA's, and then hopefully full-time for a year or so to make sure that I am doing the right thing !

I agree that the biggest barrier will be the financing of the venture. I've had the OK from the OH to use our home as part of the funding - so I dont want to do anything too silly.

I've not heard of Remax before, but I'll have a look now to see what they offer.

I have thought about buying into a franchise, I looked at Bairstow Eves (http://www.whichfranchise.com/franchisorPage.cfm?companyID=2284) which looks like an initial starting cost of around £85,000. I cannot deny that all the training, support, initial startup will be great - but am concerned I wont have full control to move the Estate Agency in the direction that I want to - does anyone know of an Estate Agency started through a franchise, or have any thoughts on starting this way, and can help advise the pro's and con's ?

silvercar

Bairstow Eves do not have a good reputation, their nickname is b@st@rds and thieves.

In my area the local one shut down after two years.

[Deleted User]

I just bought a house from Bairstow Eves :eek:

ka7e

You really do need to get some "hand on" experience. And a very sound business head. As with a lot of jobs, there are tips to be learnt from those in the know! You need to have a great deal of knowledge of your local area (not only where the good schools are, but which roads form their catchment area) and have to build up good working relationships with all sorts of other professionals - solicitors, surveyors, builders, local paper's ad staff, rival firm's negotiators etc.
My brother spent 10 years working for the big chains before building up to his own independant EA, and was very successful. However, 7 years later, a big national outfit made him an offer for the business he couldn't refuse. He now works for them as a regional director, good income without the hassle of running his own business.

AndrewSmith

If you are looking at Franchising, take a look at Your-Move.

They recently franchised all their branches, and on the whole have a fairly good reputation.

Failing that I would contact some of the larger chains such as the Skipton Group who own Connells, Fox & Son's, Allen & Harris etc (all the old SequenceHome companies).

You will get 1st class training and experience withing usually busy offices. They also allow and encourage promotion quite quickly from within.

Come back if you want some contacts in these companies. I know some of the area Directors.

Andy

jobbingmusician

The other thing which has just occurred to me is that by the time you have more experience, even more EA will be online, which means that computer skills would also be a vital acquisition

digp

mandi wrote:

Hi,


can I ask how your going to Fund this idea.. Estate Agencys are very expensive to run, along with all your overheads, youll need at least one other member of staff, you need property details pc equipment, a company car..staff wages , lighting, HUMUNGOUS, telephone bills, "for Sale Boards alone can cost from £40. each, along with the cost of paying someone, to erect them, then go along later and take them down... Then theres your advertising costs..............PHEW!! your talking about at least £ 500.000 a year, and thats just your local paper..


I love Estate Agency, and I know you will too, but it just may be a good idea to work in one for now,before splashing out all that cash

The best of luck


Mandi

worried about competition are you you blagartist?