Estate agents - weekend and evening viewings

Phirefly

This is one of the main reasons I used the hybrid online agent, Yopa. We had one sole agent who knew our house inside out and would conduct viewings up to 10pm, 7 days a week. And they were a third of the price of the next cheapest local agent.

I have no idea why anyone would use a traditional agent. (I have no affiliation)

Davesnave

student100 wrote: »

In this case it's a vacant property and the vendor is not local so we need the agent to do viewings.

Maybe it depends on location, we are in a city and 7 day opening seems common here, we're looking in a more rural area and the agents seem to be a bit behind the times!

Now if they were really behind the times, the agent would give you a key and let you get on with it.

That's what we did on several occasions in Wales, around 7 years ago.

copperjar

googler wrote: »

Who are the EA's 'customers'?

The sellers, who pay them, or the viewers/buyers/casual enquirers, who take up most of the EA's time and effort, but who don't pay them a bean? Discuss.

American 'Realtors' will move heaven and earth for both buyer and seller, in some cases being on call 24/7, or somewhat close to it. However, you'll pay them something in the region of 6% of the sale price for the privilege.

Both. If they can't get buyers through the door, they are not meet the sellers requirements either. Seriously, some of the agents that have shown me round are shocking and really failing the sellers.

I personally much prefer the vendor showing me round, as I did myself. They are always flexible and enthusiastic

jimbog

googler wrote: »

Who are the EA's 'customers'?

The sellers, who pay them, or the viewers/buyers/casual enquirers, who take up most of the EA's time and effort, but who don't pay them a bean? Discuss.

American 'Realtors' will move heaven and earth for both buyer and seller, in some cases being on call 24/7, or somewhat close to it. However, you'll pay them something in the region of 6% of the sale price for the privilege.

Here in the UK it is different. It is from the viewers/buyers/casual enquirers who eventually pay for the house that the agent is then paid by the seller. In the US it works slightly differently.

googler

student100 wrote: »

The end customer is the buyer. Although the buyer doesn't pay the agent directly it's their money that pays the agents bill. Just like if you buy Heinz beans from Tesco, you pay Tesco and Tesco pay Heinz. As the end customer you still have an interest in Heinz producing a good quality product even if you don't pay them directly.

So do you agree that those who don't buy are still those who take up the majority of the EA's time?

There's only one buyer of each house. Even if you propose that the buyer's money, sent to the seller, who then pays the EA, forms an unbroken 'bean chain', if the EA spends time with (say) 20 viewers/casual enquirers, there's 19 who don't pay the EA via this chain.

googler

jimbog wrote: »

It is from the viewers/buyers/casual enquirers who eventually pay for the house that the agent is then paid by the seller. In the US it works slightly differently.

Differently ... how?

If the two realtors aren't paid by the seller, who pays them?

student100

googler wrote: »

So do you agree that those who don't buy are still those who take up the majority of the EA's time?

There's only one buyer of each house. Even if you propose that the buyer's money, sent to the seller, who then pays the EA, forms an unbroken 'bean chain', if the EA spends time with (say) 20 viewers/casual enquirers, there's 19 who don't pay the EA via this chain.

Your point being what? That the estate agent can afford to ignore/alienate 19 out of 20 potential buyers because statistically they aren't going to be buying the house?

Doesn't work like that, obviously. Its the nature of the business that most viewings may not lead to a sale, doesn't mean they are not important though.

Besides which, even if a viewer doesn't buy one house, a good agent is likely to have many other properties in the same area and you don't want to put them off viewing them too...

warby68

I live in an area where its more the norm to do your own viewings with agents showing the empty properties or by exception.

Timings are generally flexible both ways - accompanied viewings as well although they might only offer a couple of evening or weekend slots.

I prefer the vendor to do it and I like to do it as the vendor so I can meet the potential buyers and get a feel for them. I'd encourage the wary vendor to get on and do it - it can be very revealing. I know you want to feel you've got the agent working hard but its amazing what a good rapport with interested parties can bring to the table (and the opposite also)

It always seems odd to me when people post about this sort of problem. Why an agent wouldn't offer to ask the vendor to do the 'out of hours' viewing I don't know and why more general helpfulness is not the norm. I don't suppose agents have 'blacklists' for timewasters or people viewing masses of properties do they?

jimbog

googler wrote: »

Differently ... how?

If the two realtors aren't paid by the seller, who pays them?

Google might help you with this, but from what I understand in some instances in the US the buyer has an agent too who is not always paid by the seller and that cost has to met by the buyer.

googler

jimbog wrote: »

Google might help you with this, but from what I understand in some instances in the US the buyer has an agent too who is not always paid by the seller and that cost has to met by the buyer.

Yes, the buyer's agent is paid a small fee by the buyer, but that pales in comparison to the that agent's share of the 6% commission, which is typically divided up between seller's agent and buyer's agent.