Estate Agents now wanting to charge fixed fee

googler

Hoof_Hearted wrote: »

This says it all really. EA's are not working for the vendor but to maximise their own income. The concept that if you take on a property, you give good service, seems alien to them.

Initially, use an online agent, get on Rightmove, and sell your house for £500. These agents are not commission based, so you get the same good service whatever you are selling.

Annie has shown what EA's really are -- self-serving money grabbers.

Online agents are no different from high-street agents in that their motivation is to earn money for their business, in order that they can pay their staff and expenses, with a profit margin left over for ongoing promotion and investment.

Online agents generate their income from a fixed fee which is retained regardless of the outcome of the sale. High-street EAs only get paid on a successful sale. By its very nature, this is higher risk than online, as the successful sale fees have to cover the work done on those which don't complete (which often fail through no fault of the EA).

You can try and convince us that your favourite online EA is a non-profit or charitable concern as much as you like, but at the end of the day, they're a business, looking to make money in the same way as any other business.

Name-calling won't help your argument.

freddieD

annie123: Why are there still people who put carpets in the bathroom, toilet and even in the kitchen!? Is the concept of hygene alien to them?

Marlot and DRP: I have to say that I do not support the idea to give treats to people who get paid to do their job anyhow (champagne, Hah!). More deserving people like teachers, doctors and firemen do not get this treatment for educating your children, curing you and putting out your fires

freddieD

I have just had an idea: My daughter's teacher has been giving us a lot of extra-curricular help as my daughter is having problems. Now, SHE and not my Estate Agent is getting a case of champagne at the end of the academic year (it will not count as a bribe then). However, I bet she will be reluctant to accept it.

Hoof_Hearted

googler wrote: »

Online agents are no different from high-street agents in that their motivation is to earn money for their business, in order that they can pay their staff and expenses, with a profit margin left over for ongoing promotion and investment.

Online agents generate their income from a fixed fee which is retained regardless of the outcome of the sale. High-street EAs only get paid on a successful sale. By its very nature, this is higher risk than online, as the successful sale fees have to cover the work done on those which don't complete (which often fail through no fault of the EA).

You can try and convince us that your favourite online EA is a non-profit or charitable concern as much as you like, but at the end of the day, they're a business, looking to make money in the same way as any other business.

Name-calling won't help your argument.

Of course online agents are businesses but they charge very small fixed fees compared with high street agents. As Annie points out, if there isn't much money in it for the agent, they won't try too hard.

This is a money saving site and there are thousands to be saved by going online. This is probably the only area where significant savings can be made when moving house.

googler

Hoof_Hearted wrote: »

Of course online agents are businesses but they charge very small fixed fees compared with high street agents.

>>>>> Because they do very little compared with high-street agents. It doesn't make them angels for charging less, because they're not doing the same for their money, and because they charge upfront, they're not exposed to the same risk of losing their fee as the high-street agent

As Annie points out, if there isn't much money in it for the agent, they won't try too hard.

By that logic, your online agents will try least of all.