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Do Agents get commission on getting viewings?
playaz
Posts: 270 Forumite
I am in the process of viewing properties to buy - my 'regular' estate agent calls me all the time with properties with the usual sales patter of "I strongly recommend you view this property and get an offer in etc.."
I just wondered as my EA seems to want me to view every property on their books - I just wondered do they get some kind of commission of getting viewings for a property (even though the chance of a sale in my case anyway is very low - cos i'm very fussy)?
I just wondered as my EA seems to want me to view every property on their books - I just wondered do they get some kind of commission of getting viewings for a property (even though the chance of a sale in my case anyway is very low - cos i'm very fussy)?
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Comments
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Not usually.
They are just obsessed with getting as many viewings of as many properties as possible on the basis that 1% (or 5% or whatever) of viewings result in a sale.
They are annoyingly persistant and rarely take note of your requirements, financial limits etc.0 -
If a seller doesn't get enough viewings, they are usually asking the EA why and threaten to goto another agent if viewings don't improve. They rarely think that a reduction in price will give more viewings. I know of a property 2 doors down from ours that has been under 4 different agents now, and its still at the same price for the last 2 years.
So agents are desperate to get as many viewings as possible to show the seller "We are doing our part" kinda thing and hopefully catch some commission from a sale.
If you tell an EA your a cash buyer (with or without mortgage), then they'll normally tell you about every new property on there books, regardless of whether or not you can afford it.0 -
I have known some (Corporate) agents to pay negotiators a small fee for arranging X number of viewings, but its not common practice.0
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No real biggy - just wondered as it seems some EA try and get me to view every new property that pops-up.. I guess as a FTB they are trying to grab my business more so than others that have a chain.0
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No real biggy - just wondered as it seems some EA try and get me to view every new property that pops-up.. I guess as a FTB they are trying to grab my business more so than others that have a chain.
Thats probably the reason your a hot prospect for them, they probably hope they can sell the property to you on a viewing, plus more viewings keep their vendor happy.0 -
They lie...All the time..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
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