Estate Agency Fees - What are they for?

zappahey

For me, the most important thing the EA did to earn their fee was work tirelessly to hold the (short) chain together and I guess this can be a lot of work with a longer chain.
It probably helps that this is the point where the vendor's and EA's interests are completely aligned.

Cissi

Looks like Confused has got himself a fan - someone called "Rewired" who has never posted but thanks his every post

Where's that sockpuppets icon :rolleyes:

confused31_2

Cissi wrote: »

Looks like Confused has got himself a fan - someone called "Rewired" who has never posted but thanks his every post

Where's that sockpuppets icon :rolleyes:

I know its great, if you look back at my post's i did point out rewired never thanked my post's and then all of a sudden i get loads from rewired. cheers rewired the thanks are gratefully apreciated.

Back onto the subject, how do estate agents justify their fees???

As for being told that 80 percent of buyers find their home on right move, i would not disagree, i bet if you done a poll on here, most people who have bought in the last few years first seen the property they bought on right move.

If i buy a house ill know the area where i am buying and i can see for myself how good a house is, i dont need some glorified salesperson telling me how good it is, just so they can justify ripping the seller off.

Infact like most people who buy, what they will do is see a house on right move, well 80 percent of people, then they will phone the number of the estate agent next to the house and arrange a viewing( if like all the local estate agents i have used, the vendor will do the viewing.

Then if the buyer is interested they will phone the estate agent and make a offer that will go to the vendor, they will then decide whether to accept the offer or not.

If a estate agent spends actually working more than 40 hours on a house i would be very surprised, so how can they justify being paid so much.

I know right move costs money to list but its not that much, otherwise these online estate agents couldnt offer it so cheap.

purplebuzz

Re Confused's post, this is exactly how I found the house that I am currently in the process of buying, but our buyer for the one we are selling was found by our agents as they had her on their books, and as was new onto the market she was one of the first though the door.

confused31_2

zappahey wrote: »

For me, the most important thing the EA did to earn their fee was work tirelessly to hold the (short) chain together and I guess this can be a lot of work with a longer chain.
It probably helps that this is the point where the vendor's and EA's interests are completely aligned.

what a load of rubbish if someone decides to drop out of the chain, or their circumstances change so they have to drop out of a chain, thats up to the indidvidual seller or buyer, if a estate agent can pursuade somene to stay in a chain they must be dealing with very nieve people.

Maybe people who are nieve enough to pay 2% for a estate agent to sell their house.

Cissi

For the record, I think there are a lot of useless EAs out there - including the shower that we've just bought our house through. Didn't turn up for appointments, got essential details like vendors' and buyers' addresses, completion date etc wrong on every single piece of paperwork they've sent out, etc. BUT we're not paying their fee, the vendors are - and as far as I'm concerned they were the ones who managed to sell the house for them in the end.

MissMotivation

Confused.

I invite you to spend a day in my office and accompanying me on appointments to see what we actualy do to earn our money.

I absolutely believe that will have changed your opinion by the end of the day.

zappahey

confused31 wrote: »

what a load of rubbish if someone decides to drop out of the chain, or their circumstances change so they have to drop out of a chain, thats up to the indidvidual seller or buyer, if a estate agent can pursuade somene to stay in a chain they must be dealing with very nieve people.

Maybe people who are nieve enough to pay 2% for a estate agent to sell their house.

I can only speak from the experience of my house sale, your experiences may differ. The estate agent fee I paid was worth every penny.

FWIW, I don't think I'd ever again buy a house in England, the whole selling experience is just way too stressful for me.

chickmug

MissMotivation wrote: »

Confused.

I invite you to spend a day in my office and accompanying me on appointments to see what we actualy do to earn our money.

I absolutely believe that will have changed your opinion by the end of the day.

A date - So how about tomorrow at your office at 8.00 a.m. sharp.

All MSE'ers welcome:D

MissMotivation

chickmug wrote: »

A date - So how about tomorrow at your office at 8.00 a.m. sharp.

All MSE'ers welcome:D

8am????

I would already have done half a day's work by then