I have owned my own Estate Agency for 20 years and believe me it is most certainly not money for old rope. I work long hours and have to deal with untold stress on a daily basis. 99% of all problems are caused by poor buyer or sellers, i.e. people changing their mind, can't raise the finance, decide not to move etc. etc. We pay all costs of marketing, advertising, conduct all viewings personally and often after many months earn not a penny because a client has a change of heart or circumstances. We work on a No Sale No Fee basis, unlike the surveyor, solicitor. Not expecting any sympathy but just explaining it from the other side of the tracks. That's not to say there probably are not any poor and unscrupulous agents out there, as there is in most trades.
That may well be the case. But why, as a trade, does it attract such an inordinately high percentage of absolute fucking arseholes?
An opportunity to earn quick and high income without any qualifications Leroy. But if clients selling arguably the biggest asset they will ever own, spent half hour researching the agent, its staff and reputation then it would soon get rid of those tossers out of the industry. Greed I am afraid because people believe all the fancy talk and over valuations because its what they want to hear. The majority of business that I do not win is because another agent over values, then eventually sells for the realistic figure that I gave in the first place .... But of course the bad agent receives the fee and so it goes on.
Webby, serious question how would somebody go about this then?
I will be in market in the next year or so, and the last thing I want to see is a 22 year old turn up in a Golf GTi telling me he knows all about the Eltham property market.
"its life skills that are most important, honesty, trust, compassion, empathy and patience"
You couldnt have picked a set of words that I would less associate with Estate agents.
They all blag, they all lie, they all want your money for doing as little as possible. I've dealt with 6 different estate agents in buying/selling/renting/property valuations. Big agents (ward and partners) to small agents (O Sullivans). All the same. All Liars.
Well I can only speak for my business and certainly not something that we are familiar with. Maybe its an area related thing. i live and work in a rural area and bad news travels fast.
I have owned my own Estate Agency for 20 years and believe me it is most certainly not money for old rope. I work long hours and have to deal with untold stress on a daily basis. 99% of all problems are caused by poor buyer or sellers, i.e. people changing their mind, can't raise the finance, decide not to move etc. etc. We pay all costs of marketing, advertising, conduct all viewings personally and often after many months earn not a penny because a client has a change of heart or circumstances. We work on a No Sale No Fee basis, unlike the surveyor, solicitor. Not expecting any sympathy but just explaining it from the other side of the tracks. That's not to say there probably are not any poor and unscrupulous agents out there, as there is in most trades.
That may well be the case. But why, as a trade, does it attract such an inordinately high percentage of absolute fucking arseholes?
An opportunity to earn quick and high income without any qualifications Leroy. But if clients selling arguably the biggest asset they will ever own, spent half hour researching the agent, its staff and reputation then it would soon get rid of those tossers out of the industry. Greed I am afraid because people believe all the fancy talk and over valuations because its what they want to hear. The majority of business that I do not win is because another agent over values, then eventually sells for the realistic figure that I gave in the first place .... But of course the bad agent receives the fee and so it goes on.
Webby, serious question how would somebody go about this then?
I will be in market in the next year or so, and the last thing I want to see is a 22 year old turn up in a Golf GTi telling me he knows all about the Eltham property market.
Best source is a recommendation. This site is probably a good start and some have already commented that they have had good experiences. I would also suggest visiting the choices of agents as a potential buyer and see how you are treated, the overall experience etc. At the end of the day if going to be making such a huge investment and paying a large fee, a couple of hours of research will be time very well spent. Going by some of the comments on here though in certain areas it may be that all agents are useless :-)
Good and bad in most workplaces. Like most people they are only trying to earn a crust. But most people dont sell their homes that often so they dont quite understand the ins and outs and only see the bill at the end. This is the main gripe, the amount of money for the percieved effort. Nothing stopping anyone shopping around the multitude of agents up and down every high street or placing an advert in the Newshopper, I bought a house from one of their small adds, no problem. If you're paying a thousands of pounds (plus VAT) for a service you really should have a chat with a few of them.
Edmunds, Petts Wood. I sold a house through them a few years back. No problems with them what so ever. They had a young lad learning the ropes there and was a pleasure to deal with. The manager always returned calls, as did all his staff.
Ok cheers. I'll bear that in mind. Out of interest would you say what area you cover?
Last house we bought was through Chattertons in New Eltham. Doug was helpful enough and friendly, although he didn't have much to do as we offered within 2 days of it hitting the market!
Avoid Robinson Jackson if in Eltham, they just spam mail everyone with houses not suitable.
If your property is in a decent part of Eltham I'd attempt to sell it yourself. Some are literally up on Right Move for a few days before having offers accepted. Not even a chance to stick a for sale sign up. Run an open day, get people through the door and they'll all panic to bid before others do. 2 on my road have gone for £5-8k above asking price.
Yes, we've had dealings with Doug, and also Paul when T G Baynes was there, both middle aged guys who knew the ropes, the rest in New Eltham I wouldn't cross the road for. Yes it's in a decent part, at the end of Sparrows Lane.
Ok cheers. I'll bear that in mind. Out of interest would you say what area you cover?
Last house we bought was through Chattertons in New Eltham. Doug was helpful enough and friendly, although he didn't have much to do as we offered within 2 days of it hitting the market!
Avoid Robinson Jackson if in Eltham, they just spam mail everyone with houses not suitable.
If your property is in a decent part of Eltham I'd attempt to sell it yourself. Some are literally up on Right Move for a few days before having offers accepted. Not even a chance to stick a for sale sign up. Run an open day, get people through the door and they'll all panic to bid before others do. 2 on my road have gone for £5-8k above asking price.
In Eltham I would recomend David Evans...Top end of Well Hall Road.
When I was at uni and we were in the process of moving into a new house, I received a phone call from the estate agent telling me that my future housemate had brought all her stuff to this house to move in, but because I hadn't filled out a form she was stuck outside it and had been for hours. I felt awful, panicked, begged them to fax the form and I rushed out of work and took it straight to the agents. Called my mate to apologise - she didn't have a clue what I was talking about, she wasn't even in that part of the country. They had manufactured the whole situation just to get this form in.
Another time, we all travelled from our respective hometowns down to Brighton with all our stuff to move into this house. We met at the estate agents and she asked us if we'd brought our insurance form she'd sent us. None of us had a clue what she was talking about. It became quite obvious that she'd forgot to send this form out - because none of us had received it - and we could tell form her demeanour that this was the case. She still carried on lying regardless. She knew we knew. But she still sat there, openly lying to our faces about how we couldn't move in because we hadn't completed the form. One of the parents arrived late and went absolutely skitzo mental at her, pointing out that he'd called her last week to explicitly ask if they had absolutely everything they needed.
The very worst profession I've ever come across. Make traffic wardens look like nurses.
My key tip would be do not look at any houses to buy until you have accepted an offer on yours. So many times have I seen people fall in love with a property only to lose out due to their currwnt property not selling on time.
Really? I'd have thought it's key to start looking asap, get to know the areas you're looking at, see potential houses so you can begin to understand the things you don't & do like in the various properties in the area etc etc. Also get to build up relationships with local estate agents. You may find your perfect house and the vendors are still to find somewhere anyway, so time isn't as much an issue.
Sounds odd waiting for your house to go under offer before even starting looking. Not appealing to those buying your house if you're yet to even begin your search. Works both ways put our house on market had buyer within 12 hours but they pulled out after we couldn't find a house also we found a place but the seller wouldn't accept our offer untill we had a buyer? But be honest I don't think I could be bothered again unless I found a nice lighthouse for sale?
Yes, we've had dealings with Doug, and also Paul when T G Baynes was there, both middle aged guys who knew the ropes, the rest in New Eltham I wouldn't cross the road for. Yes it's in a decent part, at the end of Sparrows Lane.
Heard house values down Sparrows plummet the closer you get to those horrible red gates....
Yes, we've had dealings with Doug, and also Paul when T G Baynes was there, both middle aged guys who knew the ropes, the rest in New Eltham I wouldn't cross the road for. Yes it's in a decent part, at the end of Sparrows Lane.
Heard house values down Sparrows plummet the closer you get to those horrible red gates....
Yes, we've had dealings with Doug, and also Paul when T G Baynes was there, both middle aged guys who knew the ropes, the rest in New Eltham I wouldn't cross the road for. Yes it's in a decent part, at the end of Sparrows Lane.
Heard house values down Sparrows plummet the closer you get to those horrible red gates....
Yes, we've had dealings with Doug, and also Paul when T G Baynes was there, both middle aged guys who knew the ropes, the rest in New Eltham I wouldn't cross the road for. Yes it's in a decent part, at the end of Sparrows Lane.
Heard house values down Sparrows plummet the closer you get to those horrible red gates....
:-) Wrong end.
& they rise the closer you get to the fantastic New Eltham Grill.....
Well to be honest you do not need qualifications to introduce buyers and sellers, advertise on specialist sites and publications etc. Many years ago I took a huge pay cut to train in an estate agents as did not like my mundane office job. I do have ample qualifications but are certainly not essential, its life skills that are most important, honesty, trust, compassion, empathy and patience etc. Same as any other sales job I suppose in that qualifications are not required but a good grounding and knowledge of the industry will help you go further.
I suspect your experience has been with the large corporate agents. They are just a production line of young people with no life experience and go by the typical stereo types that you mention. They tend to take them in with high rewards for quick results and this encourages poor practice. Independents like myself rely heavily on repeat business and local reputation and I must be doing something right as I have been trading nearly 20 years and play an active part in the local community. These poor agents may be able to get away with it in busy towns and cities as they can disappear in to the crowd but here on the Isle of Wight there is no hiding place and you would very soon get found out. My clients are mostly friends, family, local people I know of, people I meet at the school drop offs etc and would consider myself highly respected, as are many other the other local estate agents.
A lot of these problems you mention are brought about by greed of sellers. Typically the client wants the best and highest price quoted and the lowest fee's. Unfortunately after you sign up to these agreements its too late. To run a good office with experienced and honest staff that do not rely heavily on commission is expensive and like I said if we sell nothing, these fees come out of my pocket at the end of each month. So I would suggest that people research the agents first and look for recommendations rather than just going for the highest valuation.
People expect an awful lot from their agent considering they are only paying for the introduction of a buyer and we often act as the middle man in the legal process because a lot of solicitors are very poor at progressing sales and keeping their clients up to speed. So any frustrations are taken up with us because we are the ones in the goldfish bowl that they can just walk in to see at any time. Long hours, 7 day opening and a lunch break is unheard of.
We are regulated by the Property Ombudsman and it is a legal requirement to be a member. But my reputation is the only regulation that I need as well as my own high morals and standards.
I am sure this wont change many opinions and can only speak for myself so will be buying my own beers next time I am up at the Liberal Club pre match :-)
I fully respect your view but I have to question that line. Are you saying that charging 2% plus VAT of £620,000 (the price I last sold a property for) is a just for introducing a buyer?
If so I would suggest that as most, if not all, buyers come from Rightmove the price is a little too high. I was promised all sorts of services from the Estate Agent that I instructed (most of which they, completely, failed to deliver on), but at no point did he tell me he expected me to part with £14,880 just for an introduction. For a fraction of that I could have set up my own Estate Agent and registered with Rightmove and fielded all the calls myself.
On a separate note I have heard of several Estate Agents that earn significantly more then twice their gross salary in cash from sales where the buyer, shall we say, 'gets a good deal' on the purchase price!
Most of these chaps have the aspiration to achieve nothing more than avoiding getting sacked so that they can continue to benefit from their friends generosity when a house is bought and then sold two months later got c. £50k more!
Most of the Estate Agents are not even bashful about it. They drive around in their Vauxhall Astra company cars and they fly first class to Dubai and stay in hotels that charge more in a week than most of us pay in rent for a month - all paid for with cash, obviously!
Well to be honest you do not need qualifications to introduce buyers and sellers, advertise on specialist sites and publications etc. Many years ago I took a huge pay cut to train in an estate agents as did not like my mundane office job. I do have ample qualifications but are certainly not essential, its life skills that are most important, honesty, trust, compassion, empathy and patience etc. Same as any other sales job I suppose in that qualifications are not required but a good grounding and knowledge of the industry will help you go further.
I suspect your experience has been with the large corporate agents. They are just a production line of young people with no life experience and go by the typical stereo types that you mention. They tend to take them in with high rewards for quick results and this encourages poor practice. Independents like myself rely heavily on repeat business and local reputation and I must be doing something right as I have been trading nearly 20 years and play an active part in the local community. These poor agents may be able to get away with it in busy towns and cities as they can disappear in to the crowd but here on the Isle of Wight there is no hiding place and you would very soon get found out. My clients are mostly friends, family, local people I know of, people I meet at the school drop offs etc and would consider myself highly respected, as are many other the other local estate agents.
A lot of these problems you mention are brought about by greed of sellers. Typically the client wants the best and highest price quoted and the lowest fee's. Unfortunately after you sign up to these agreements its too late. To run a good office with experienced and honest staff that do not rely heavily on commission is expensive and like I said if we sell nothing, these fees come out of my pocket at the end of each month. So I would suggest that people research the agents first and look for recommendations rather than just going for the highest valuation.
People expect an awful lot from their agent considering they are only paying for the introduction of a buyer and we often act as the middle man in the legal process because a lot of solicitors are very poor at progressing sales and keeping their clients up to speed. So any frustrations are taken up with us because we are the ones in the goldfish bowl that they can just walk in to see at any time. Long hours, 7 day opening and a lunch break is unheard of.
We are regulated by the Property Ombudsman and it is a legal requirement to be a member. But my reputation is the only regulation that I need as well as my own high morals and standards.
I am sure this wont change many opinions and can only speak for myself so will be buying my own beers next time I am up at the Liberal Club pre match :-)
I fully respect your view but I have to question that line. Are you saying that charging 2% plus VAT of £620,000 (the price I last sold a property for) is a just for introducing a buyer?
If so I would suggest that as most, if not all, buyers come from Rightmove the price is a little too high. I was promised all sorts of services from the Estate Agent that I instructed (most of which they, completely, failed to deliver on), but at no point did he tell me he expected me to part with £14,880 just for an introduction. For a fraction of that I could have set up my own Estate Agent and registered with Rightmove and fielded all the calls myself.
On a separate note I have heard of several Estate Agents that earn significantly more then twice their gross salary in cash from sales where the buyer, shall we say, 'gets a good deal' on the purchase price!
Most of these chaps have the aspiration to achieve nothing more than avoiding getting sacked so that they can continue to benefit from their friends generosity when a house is bought and then sold two months later got c. £50k more!
Most of the Estate Agents are not even bashful about it. They drive around in their Vauxhall Astra company cars and they fly first class to Dubai and stay in hotels that charge more in a week than most of us pay in rent for a month - all paid for with cash, obviously!
Haha well I'm obviously working the wrong area. I live and work on the Isle of Wight where my average fee is about £2500 and dealing with a lot of cheap flats that have lots of protracted sales due to lease problems, management issues and the like. I need to sell four a month just to be able to open my doors and be in a position to even offer a property for sale ... And some months we sell none but the overheads are exactly the same. The market here rarely has peeks and trough end can honestly say have never received a back hander in my life, although they have been offered. As I say it's a small place and it's my livelihood. Flying to Dubai first class would be lovely but I have not even been able to afford a trip to the valley for a year but hopeful will make a game soon. So yes in short my contract is for the introduction of a buyer but we become far more involved than that and trust me when a fee is paid me and my client usually know that I have more than earnt it. But if that's what really goes on with agents up there then it's time to find a new agent and if the market really is that good I would not bother using one at all. Mind you when people do advertise privately, they usually waste agents time for nothing to establish the asking price .... So in one hand not wanting to trust them, but happily seeking their advice for free :-)
Comments
I will be in market in the next year or so, and the last thing I want to see is a 22 year old turn up in a Golf GTi telling me he knows all about the Eltham property market.
Out of interest would you say what area you cover?
Edmunds, Petts Wood. I sold a house through them a few years back. No problems with them what so ever.
They had a young lad learning the ropes there and was a pleasure to deal with. The manager always returned calls, as did all his staff.
Avoid Robinson Jackson if in Eltham, they just spam mail everyone with houses not suitable.
If your property is in a decent part of Eltham I'd attempt to sell it yourself. Some are literally up on Right Move for a few days before having offers accepted. Not even a chance to stick a for sale sign up. Run an open day, get people through the door and they'll all panic to bid before others do. 2 on my road have gone for £5-8k above asking price.
Yes it's in a decent part, at the end of Sparrows Lane.
Another time, we all travelled from our respective hometowns down to Brighton with all our stuff to move into this house. We met at the estate agents and she asked us if we'd brought our insurance form she'd sent us. None of us had a clue what she was talking about. It became quite obvious that she'd forgot to send this form out - because none of us had received it - and we could tell form her demeanour that this was the case. She still carried on lying regardless. She knew we knew. But she still sat there, openly lying to our faces about how we couldn't move in because we hadn't completed the form. One of the parents arrived late and went absolutely skitzo mental at her, pointing out that he'd called her last week to explicitly ask if they had absolutely everything they needed.
The very worst profession I've ever come across. Make traffic wardens look like nurses.
;-)
Advice for life, really.
Canterbury is in a fantastic area - enjoy the search!
If so I would suggest that as most, if not all, buyers come from Rightmove the price is a little too high. I was promised all sorts of services from the Estate Agent that I instructed (most of which they, completely, failed to deliver on), but at no point did he tell me he expected me to part with £14,880 just for an introduction. For a fraction of that I could have set up my own Estate Agent and registered with Rightmove and fielded all the calls myself.
On a separate note I have heard of several Estate Agents that earn significantly more then twice their gross salary in cash from sales where the buyer, shall we say, 'gets a good deal' on the purchase price!
Most of these chaps have the aspiration to achieve nothing more than avoiding getting sacked so that they can continue to benefit from their friends generosity when a house is bought and then sold two months later got c. £50k more!
Most of the Estate Agents are not even bashful about it. They drive around in their Vauxhall Astra company cars and they fly first class to Dubai and stay in hotels that charge more in a week than most of us pay in rent for a month - all paid for with cash, obviously!