How can one become an estate agent and work for himself?

peace800

Hi I'm interested in becoming a self employed estate agent on my own and I was wondering about how I should go about it? I no that there are no minimum requirements and I do work in financial sales.

In terms of valuing properties can I get professional valuers to to that and then pay them a fee?

Can one start small and would i be allowed to open my own estate agency?

can someone give me a few tips on how one would set up a business like this ?


please try to refrain from negativity(i know it can be hard sometimes) and give genuine assitance.


Many thanks.

Kavanne

Perhaps you can work for an estate agent first, learn the business from someone more experienced, then set up shop yourself a few years later?

Anne3333

Thisismoney states today that estate agencies are closing at a rate of up to 150 a week as house sales plunge. Perhaps now is not the best time Peace800!

nelly_2

why anyway?

Doozergirl

Not the best time to set up in the business!

I agree that you should get the relevant experience in the field before even attempting to set up shop. I think that's a given to succeed in any business.

If you are self employed, you need to know your business. Being able to value a property I would think is right up there!

peace800

I wasn't thinking of doing this straight away due to the market right now but possible next yr.

Would it be possible to get others to value property? i.e. professionals and then pay them?

does anyone have experience of being an estate agent and is it possible to set up shop witout having worked in an EA before?

Neillgb

Contacts is what u be needing!!

1. Solicitor dealing with deceased estates, preferably as sole executor, that is looking for a 'quick sale' on behalf of their client.

2. Surveyor that accepts that their are sharp and short lived 'variations' in property values.

3. Mortgage broker, possibly one of the above, that is perhaps a little 'lax' on checking details supplied by customers with regard to their income.

4. Rich person, perhaps 1m ish that wants 3/4m in 4/5years.

You will, of course have to allow for 'fees'.

Got the above? Give it a year and a half and get rich quick!!

Flipant post?? Only a bit!!

chickmug

peace800 wrote: »

I wasn't thinking of doing this straight away due to the market right now but possible next yr.

Would it be possible to get others to value property? i.e. professionals and then pay them?

does anyone have experience of being an estate agent and is it possible to set up shop witout having worked in an EA before?

Where do you see your office - high street of town or in village location. Do you have a very minimum of £50,000 to kit out, web site, staff and income whilst you are trying to get the first fee in. I know those who have allowed £100,000 to get off the ground and in a good market. Often they take several months (5/6) to earn the first fee.

Where would you turn if you faced a problem and didn't know the answer.

And no NEVER heard of agent paying third party to value.

MissMotivation

peace800 wrote: »

does anyone have experience of being an estate agent and is it possible to set up shop witout having worked in an EA before?

Why would you want to? Why would anyone want to set up a business with no idea how to run it? Crazy!!

Nenen

peace800 wrote: »

Would it be possible to get others to value property? i.e. professionals and then pay them?

From our experience of selling, as far as I can see, the 'professionals' simply look on websites to see what similar properties in the area have sold for recently and then (up until last year) add a bit on top. Currently, I think many (but not all) EAs are deducting a little bit from recent sale prices!

The other thing they do (in order to get business) is to try and find out what the vendor thinks it is worth and either agree with that or go even higher to tempt the vendor to sign a long contract. Then, when the property hasn't had any interest after a few weeks, suggest the vendor drops the price to a more realistic level!

I can't see you need to employ someone to do that for you... if the 'schoolboys' in suits can do it then I'd guess anyone with an ounce of intelligence (and usually few morals) can do likewise (apologies to the few decent EAs who I know do exist)!

I'd say it also really helps to know the area well and have the 'gift of the gab'! Having said all that, I thoroughly agree with PPs who've said this is not a good time to be starting this career... if many of the predictors are correct it will probably be at least 3 or 4 years before the market starts to pick up.

Kez100

FGS learn how to take a decent digital photo!