Estate Agent work

catshark88

A good estate agent keeps everyone informed and on the same page during the process.

My last purchase was tortuous and would have fallen through without the work of the estate agent (who had a member of staff dedicated to this role). They also helped get things sorted out when our nightmare vendor left stuff in the garage after completion.

There are a load of appallingly rubbish e agents, but the good ones can be great.

Kidder81

As in any walk of life there are good agents and not so good agents.

The ones we've always used are great. Do exactly what they say they will and always get the job done. The ones who sold our current house were abysmal. Just vote with your feet if you get a bad one. If everyone did that, they wouldn't be around long.

Davesnave

Kidder81 wrote: »

Just vote with your feet if you get a bad one. If everyone did that, they wouldn't be around long.

People get the agents they deserve.

An EA's work in the form of ads on Rightmove or Zoopla is easily accessible, so why do people engage some of them?

The answers are probably ignorance and laziness. After all, if folks can't make a bed, mow a lawn or tidy-up properly, then evaluating an agent's presentation skills isn't going figure in their priorities.

And if the shop window is rubbishy, then it's highly unlikely a team of dedicated professionals lurks inside!

NineDeuce

Surrey_EA wrote: »

That's the only way "no sale, no fee" can work. The ones who do sell subsidise the ones that don't end up moving for one reason or another.

Really? So are there a list of kind estate agents who drop their fees when the amount of 'timewasters' reduces?

Have they thought of themselves as timewasters to their clients by providing a sub-standard service?

Slinky

The EAs we bought through last year were pretty useless. The whole thing dragged on for months unnecessarily. They knew we were planning on renting the property out when we had completed, we were organised cash buyers with potential to be paying them ourselves when we required a rental agent. The gift that kept on giving.

As they were so useless, they slipped out of contention for being our rental agent, and we went to the young, enthusiastic, efficient, much cheaper letting agent who is fast ripping the rentals business away from the other agents in the town.

googler

NineDeuce wrote: »

Really? So are there a list of kind estate agents who drop their fees when the amount of 'timewasters' reduces? Have they thought of themselves as timewasters to their clients by providing a sub-standard service?

It's not a question of 'timewasters'. If ten people enquire about, view, and negotiate price over a house, and only one buys, the EA has spent 90% of this time with people who didn't buy from them. Even the person who did buy from them will not pay them. The only person who will is the person they've spent little to no time with - the seller.

In order to stay in business, the payments from the sellers have to cover the expense of all the activity with these others, including the buyer.

kates08

I seem to have picked a really good EA, they were really good throughout the sales process, got us asking price and kept the chain together. When our vendor decided not to sell they have us loads of advice and kept the rest of the chain calm, then towards the end they seemed to be the only people who could get a response out of our useless solicitors. They really earned their 0.75%.

I honestly don't think our chain would have completed without our EA. Maybe we should start a rating chart to help people choose a good one!

NineDeuce

googler wrote: »

It's not a question of 'timewasters'. If ten people enquire about, view, and negotiate price over a house, and only one buys, the EA has spent 90% of this time with people who didn't buy from them. Even the person who did buy from them will not pay them. The only person who will is the person they've spent little to no time with - the seller.

In order to stay in business, the payments from the sellers have to cover the expense of all the activity with these others, including the buyer.

That's the same as with any sales job. In what other industry does the value of a product increase exponentially to compensate for people who dont buy?..... It wouldnt work in car insurance....

googler

NineDeuce wrote: »

That's the same as with any sales job.

No, it isn't.

If a salesman shows his widgets to 10 potential buyers, he could then sell widgets to any number of them between 1 and 10, so he could end up with 10 buyers.

If an EA shows a house to 10 viewers, there can only be 1 (one) buyer from those 10.

googler

NineDeuce wrote: »

In what other industry does the value of a product increase exponentially to compensate for people who dont buy?..... It wouldnt work in car insurance....

Again, if you're not happy with the current payment models (no-sale no-fee percentage, flat fee upfront non-refundable, etc), what would you realistically suggest, that would keep customers like you happy, and enable the EA and their staff to put food on the table and a roof over their head?