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How do estate agents earn their income?
evoke
Posts: 1,286 Forumite
My understanding is that EAs earn their income via the fees they charge for selling properties. As sales are at rock-bottom at the moment, how are EAs surviving as viable businesses?
Will we see a great deal of consolidation of EAs in 2011 with loads if EAs joining the dole queue?
Will we see a great deal of consolidation of EAs in 2011 with loads if EAs joining the dole queue?
Everyone is entitled to my opinion!
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Comments
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It would be unkind to suggest that some (not all, just some) Estate Agents don't earn their income at all, but are just paid their income for doing nigh on nowt... (cf Wayne Pooney is paid a lot of money but in my 'umble opinion, whilst a footballing genius, doesn't earn it all... )
So I won't suggest then...
Cheers!
Artful0 -
A lot of them are not doing deals on the percentage and some are increasing them to maintain the status quo0
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According to the BBC website the use of shops by estate agents is up year on year by 4%.
http://www.bbc.co.uk/news/magazine-11915437
On that basis, I'd expect there to be less agents 'in the dole queue' as you put it.
My tuppence worth, though, is thatthat most agents who lose their jobs would be relatively easy to house with another agent as large chains are growing and looking for staff - just look on the online jobsites for 'property negotiator' as there are hundreds of jobs.0 -
Commission from rent, fees for rental tenancies.0
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dont they also get a basic wage?0
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Estate agents round my way get minimum wage + a bonus if they sell a house.
To my knowledge, none of the local agents have shut up shop... but I've not checked.0 -
They did most of their consolidating in 2008. I doubt as a whole they've taken on as many staff as they had back then.Everything that is supposed to be in heaven is already here on earth.
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morganedge wrote: »dont they also get a basic wage?
I guess OP meant the Estate Agent Companies, not the actual negs themselves?
But yes, a basic wage + commission/bonus structure is common.0 -
morganedge wrote: »dont they also get a basic wage?
Some not all. I've seen adverts for negotiators where the office/desk/phone is provided and the negotiator is self employed and on commission only. The adverts do state £40-60k OTE.The man without a signature.0 -
morganedge wrote: »dont they also get a basic wage?
Maybe, but the basic wage is paid from...... the selling fees (and/or rental fees)0
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