Remind me again, what do estate agents actually do for their money?

Categories Selling
Remind me again, what do estate agents actually do for their money?

“Oh you’re an Estate Agent”… cue that funny expression that sits perfectly between disdain and curiosity every time I meet someone new and answer the question: “So what do you do?”

We as a nation, are generally private people, house proud and totally and utterly obsessed with buying and selling property.

It’s a little known fact that most Estate Agents (at least the ones I know) absolutely love their job.  Principally because we hold the very unique privilege of being invited into people’s homes to see a snippet of their lives and how they live.

Property is a constant topic of conversation, recently we’ve seen Interest Rate Rises and changes to Stamp Duty Legislation – there is always something in the national press.

With so much commentary on the topic and the wealth of available knowledge online, one could easily be forgiven for thinking that selling your home is an easy thing to do.  All Estate Agents have heard the phrase, “I’m not on the market but my house will sell really quickly” or “to sell my home surely you just pop it on Rightmove?”

However, there’s a lot more to it than you first might think. Read on to find out more…

 

What does my estate agent’s fee pay for?

The first meeting with your local Estate Agent is likely to be at the initial valuation appointment.  Whilst you don’t pay anything for a valuation of your home, we’ve already started work, researching similar sales in your road and starting to get a picture of its value before we visit.

Online only agents aside, when you’ve decided which Estate Agent to instruct, there is nothing to pay upfront; a fee is only payable once your property is successfully sold.

Because our fee is charged at the end of the transaction and is proportional to the value we achieve, we are highly motivated to secure you (the seller) the highest possible price for your property.

Here is a breakdown of what the final fee pays for when you instruct Curchods:

 

Curchods - what we do for our fee (percentages)

Once a sale has been agreed, it’s rare that everything is problem free, we’d be lying if we said that it did, but this is where we as the experts, come in to smooth things over:

  • Survey says the property you’re buying needs a new roof – lets talk.
  • Can’t find a removal company you’re happy with – leave it to us.
  • Going on holiday when your solicitor needs you to look at paperwork – we can help.

I’ve lost count of the hours I’ve spent on the telephone to pull everything together for our clients, talking to all parties involved so everyone is happy in the end, but this is what we are here to do and what every good Estate Agent should offer.

 

If you’ve read this far, will you do me this one tiny favour?

When you next meet someone for the first time and they tell you that they are an Estate Agent, before you pull that face just remember:

  1. We love what what we do.
  2. We’ll do everything in our power to make your dreams come true – there really isn’t anything better than ringing someone up to say that their offer has been accepted.
  3. We don’t have magic wands – but you will believe that we do, when we give you the keys to your dream home!

 


CONTRIBUTORS

Samantha Ibell – Senior Sales Negotiator
Graeme Wadhams, Marketing Manager

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