Starting up an estate agency

ILW

chucknorris wrote: »

I can't think of a response that would show you up more than your own post on this thread.

Apologies if that somewhat offhand comment offended you.
I have spent years dealing with Foxtons people in connection with my business and it does appear to a given me a rather biased attitude to a whole industry.

FTBFun

chucknorris wrote: »

I think it beacomes a problem with about 70 years on the lease (as mortgage lenders don't tend to like this) so it would probably become your problem eventually (I have no experience of this though)

Absolutely, but being an FTB, I'd rather not have the hassle of getting a lease extension straight away.

It was more the playing it down of the EA (Foxtons, unsurprisingly) that rankled.

chucknorris

ILW wrote: »

Apologies if that somewhat offhand comment offended you.
I have spent years dealing with Foxtons people in connection with my business and it does appear to a given me a rather biased attitude to a whole industry.

Don't wory about it, I know agents are not particularly well liked by some. I personally have found agents alright though in my dealings with them

SimonMrGreenWard

Vincenzo wrote: »

V. interesting. I have noticed a few agents near me mixing things up a bit. One went too far and started writing about the lifestyle afforded by the proeprty, rather than the property itself!

Simon - are all your vendors happy with this apporach? Typically the agent's particulars are a balance between being truthful and keeping the vendor happy, hence the jargon/code.

What do you do for example when the vendor has spent thousands 'modernising' a house and made a complete hash of it? You can hardly say 'The vendor has done their best but due to their questionable taste this property requires complete redecoration'. Can you....?

It's always possible to get the truth in. The details are only one part of the honest approach. I'm always nice to people and would never do anything that I didn't think they were happy with.

End of the day, my job is to get a decent buyer who pays as much money as possible for their property.

googler

SimonMrGreenWard wrote: »

http://www.thesun.co.uk/sol/homepage/features/3030859/What-happens-when-estates-agents-drop-the-jargon.html

One step ahead on that.

Wow. Your website has, on its homepage, separate credits for;

"Created by", "Concept & Content", and "Concept, Art Direction, Design & Photography"

yet the first paragraph -

"Fixed fees.
£1495 + VAT for property to £250k.
£2495 + VAT for property between £250k - £500k
and £4995 + VAT exclusive service for property above. "

is at variance with the last paragraph on the same page, which reads;

"Fixed fees.
£1495 + VAT for property below £500k.
£4995 + VAT for property above."

... or have I missed something?

googler

SimonMrGreenWard wrote: »

If this thread alone has put a dampener on the idea, starting your own business 100% isn't for you. I had 1000 people tell me my idea wouldn't work, 9 months in and I've just sold first licence/franchise and my office is doing okay.

OK, I've had a quick look at your website, and it looks much the same as any other estate agency. In a couple of sentences, what was your 'idea'?

SimonMrGreenWard

googler wrote: »

OK, I've had a quick look at your website, and it looks much the same as any other estate agency. In a couple of sentences, what was your 'idea'?

New website on way soon. I don't recommend having an estate agency website done by the people who did mine.

SimonMrGreenWard

googler wrote: »

Wow. Your website has, on its homepage, separate credits for;

"Created by", "Concept & Content", and "Concept, Art Direction, Design & Photography"

yet the first paragraph -

"Fixed fees.
£1495 + VAT for property to £250k.
£2495 + VAT for property between £250k - £500k
and £4995 + VAT exclusive service for property above. "

is at variance with the last paragraph on the same page, which reads;

"Fixed fees.
£1495 + VAT for property below £500k.
£4995 + VAT for property above."

... or have I missed something?

In all honesty, the whole website has been a complete nightmare to change anything. Someone designed the site, someone wrote the copy and someone built it. The last lot have been the problem. Can't get anything changed and mistakes aplenty.

Steep learning curve. New site will be live for next year that will be much better and I'll not make same mistakes in having it created.

JQ.

Why not just work for an Estate Agent? It would appear you don't need the cash. You could work 3/4 days a week, without the stresses of trying to run the business yourself. You won't earn a fortune but you'll be more relaxed in the job and may enjoy it far more. If after 6 months you think setting up your own agency is a good idea, then go for it. I'm quite sure being a QS would be of benefit when going for jobs as you can talk to vendors far more knowledgeably than most - definately a USP.

googler

Leaving aside the website, what was the essence of your 'idea' that people said wouldn't work....?