Estate agent financial advisor

betmunch

I agree with the see what they have to say, but dont agree to use them if you dont want to. I dont believe theres a Right Move broker that can do better than me, nor Countrywide, nor Connells, nor Reeds Rains. Yeah they might have exclusives, but so do I. Its when they lie and cheat for the business that I get pis**d off! dont put the offer forward? Sure we'll make a formal complaint, they WILL add up and something WILL get done about it (one day!)

The_J

To be honest (and I say this as I suit up my armour and mount my white stallion), there are probably decent estate agent brokers and, if there was a chinese wall around them it actually makes sense for them to be there. It's all in one place, it's straightforward, it's easy and we like easy.

The problem is no such chinese wall exists, it's a further sales opportunity and the customer is seen as a cash cow. That's never good.

I'd like to see estate agents offer to work with brokers, with local IFAs (I'm always positive on using local services). If the customers chooses to go with the local IFA he will pay the estate agent a fee for the introduction but otherwise everything is kept separate.

holly_hobby

My hero ....:kisses3:

H

betmunch

The J, there is definately good advisors within the corporates, the problem is they are few and far between, the chances of getting one are slim. And of course they dont stick around long, the sharp practices and idiot managers soon force them out. Then they go self employed and set up for themselves and live a much happier life!

koexelek

dunstonh wrote: »

Avoid estate agent brokers like the plague (small independent agents not included). They have the worst reputation going and most of it is justified.

I always warn my clients about the dangers of having unecessary credit searches done.
One of them wanted to look at a house through a national estate agent the other day, and was told they needed to be checked out first.
The client repeated what I had said, but was told by their adviser.... it makes no difference to your credit rating how many searches are done... even if 30 are done in a week :eek:

Conrad

holly_hobby wrote: »

If you want to go in, see what they say and what mges they offer, do that
Hope this helps

Holly

Direct deals are cheaper and people can buy thier life assurance with online providers for a lot less. Many tiny Building Societies and other lenders do not appear on sourcing systems. No one wanting good value would use a broker.

Why on Earth would they want to see a broker? Brokers are here for the difficult cases or clients who cant be bothered / don't have time doing the work themselves.

Dave_Ham

Conrad wrote: »

Direct deals are cheaper and people can buy thier life assurance with online providers for a lot less. Many tiny Building Societies and other lenders do not appear on sourcing systems. No one wanting good value would use a broker.

Why on Earth would they want to see a broker? Brokers are here for the difficult cases or clients who cant be bothered / don't have time doing the work themselves.

It is not just Estate Agents that never cease to amaze me!

holly_hobby

betmunch wrote: »

The J, there is definately good advisors within the corporates, the problem is they are few and far between, the chances of getting one are slim. And of course they dont stick around long, the sharp practices and idiot managers soon force them out. Then they go self employed and set up for themselves and live a much happier life!

Now that does sound like the voice of experience to me B

I heartily agree that the pressure of the targets placed on them can only generally create one enviroment ... although there are always a few good apples in the mix who try to achieve the same in an ethical manner.

koexelek wrote: »

I always warn my clients about the dangers of having unecessary credit searches done.
One of them wanted to look at a house through a national estate agent the other day, and was told they needed to be checked out first.
The client repeated what I had said, but was told by their adviser.... it makes no difference to your credit rating how many searches are done... even if 30 are done in a week :eek:

I have never ever heard of EAs performing credit searches on a mge applicant, which they won't have access to systems unless they operate a rental arm, and so are permitted to conduct enqs as a or operational company requriement - but this certainly should not be used for anything other than the rental side re tenants. Viewing a property, and neither gen advice nor full blown apps on the mge side should be credit checked by an adviser, if not forming part of the mge packaging process - as they have no legal requirement for the data (checking someone is not wasting their time, with a string of CCJs, doesn't count I'm afraid).

Of course in any event, the individuals do have to give direct permission for any search to be conducted, without which the company are in grave breach of the DPA ...

H

Dave_Ham

Yeah think I recall Betmunch saying before that he cut his teeth in Estate Agencies and then morals got the better and went Han Solo.

Have seen lesser offences being punished with removal from The J list, but he seems to be unscathed...

Unfortunately, whilst there is no regulation or no real regulation with the Estate Agency world it is open to abuse and is sure does get abused

We think we have it bad in buying, the games that go on in letting and the application fees seem horrific - too scared to go on those boards!

Conrad

holly_hobby wrote: »

I heartily agree that the pressure of the targets placed on them can only generally create one enviroment ... although there are always a few good apples in the mix who try to achieve the same in an ethical manner.

H

No, there is never an ethical sale in terms of BEST VALUE via one of these corporates because;

+ The sourcing systems leave out many deals and lenders (I often find small BS deals are not included as these lenders do not deal with sourcing systems)

+ No corporate bod habitually recomends one of the many lenders that pay no commision / direct deal only deals such as Co - Op, Post Office, HSBC and many more

+ Direct deals are the cheapest on the market in terms of overall deal. Rarely can an advisor deal beat every direct deal. Look at the very low fee levels and lower long term svr's of some direct lenders. Selling a Halifax 2 year deal is often bad overall value.

+ Life and home assurance with top providers are available a lot cheaper (for example a small local broker will often re - imburse 50% commision to make premiums lower)


I was regional manager of one of these corporates btw - hated every minute.