Who does the Estate Agent work for...

googler

stator wrote: »

The buyer and seller are both stooges to be milked of as much money as possible by the estate agents who work only for themselves.

It's a business.

The aim is to generate enough income to pay running costs, expenses, and a living wage to those employed by and owning the business, and hopefully some profit above that.

Those that generate significant profit have the potential to reinvest and grow the business, with more offices, staff, etc., as well as to increase the wage for all concerned above a mere living wage.


Is this aim any different from any other business?


The main difference is that it isn't a direct supplier-receiver of goods relationship. The customer is the seller, but because the EA is aiming to sell the product (the property) for the customer to another party, they end up spending most of their time and effort on third parties who don't pay them (enquirers, viewers, and - hopefully - buyers)

Guest101

googler wrote: »

It's a business.

The aim is to generate enough income to pay running costs, expenses, and a living wage to those employed by and owning the business, and hopefully some profit above that.

Those that generate significant profit have the potential to reinvest and grow the business, with more offices, staff, etc., as well as to increase the wage for all concerned above a mere living wage.


Is this aim any different from any other business?


The main difference is that it isn't a direct supplier-receiver of goods relationship. The customer is the seller, but because the EA is aiming to sell the product (the property) for the customer to another party, they end up spending most of their time and effort on third parties who don't pay them (enquirers, viewers, and - hopefully - buyers)

Well they do indirectly pay them, as the money travelled from buyer to agent

RodgerClarkuk

I am an Estate Agent and we work on behalf of the Owners of the property as they are paying us.


We HAVE to protect the interests of both parties throughout the sale though.


An estate agent wants to get a deal agreed ASAP (this is where we make money). Bad estate agents pressurise sellers into agreeing below the market price for a quick sale, they also overvalue houses so that they win the property.


We are the unluckiest of all middlemen, as we are between a homeowner who is selling their biggest (and usually most loved) asset and a buyer who wants to buy the perfect house at the cheapest possible price and all we need is an agreement and we will get paid at the end.


Find a good agent and they pay for themselves with less strees for you, a good price for your house and less hiccups along the way