Setting up a new business

[Angelis]

I'm setting up a new residentail estate agency business (please...no insults) to be launched end of MArch and I'd like to do a quick market research.

What do you take into account when choosing an agent to sell your property?

Eg: Commission charged, service offered, nice sale board etc

Also, would it bother you if the estate agency worked out of an office rather that a shop front, but charged less than half the commission. eg; 0.5% compared to the industry standard of 1.5%.

Thanks



>>> Edited by Angelis on Friday 18th February 15:17

[obiwonkeyblokey]

Angelis said:

I'm setting up a new residentail estate agency business (please...no insults) to be launched end of MArch and I'd like to do a quick market research. What do you take into account when choosing an agent to sell your property? Eg: Commission charged, service offered, nice sale board etc Also, would it bother you if the estate agency worked out of an office rather that a shop front, but charged less than half the commission. eg; 0.5% compared to the industry standard of 1.5%. Thanks >>> Edited by Angelis on Friday 18th February 15:17

Office would bother me as it would make me think that you would lack the "footfall" passing trade.

My thing for me would be service and guaranteed accompanies viewings. Ive dealt with many over the years and the quality has been very poor generally although one or two stand out. However this sort of rep comes with time.

By the way if you want to see a good estate agenst website have a look at www.isleofwighthomes.co.uk I thought it was excellent when I was thinking of moving "overseas"

good luck

[Angelis]

obiwonkeyblokey said:

Office would bother me as it would make me think that you would lack the "footfall" passing trade.

That's what I thought initially, but evidently 70% of clients don't actually visit shop based agents. A lot of them view properties online or call agents direct.

Just called 6 local estate agents now to find out their commission rates. All of them initially refused to give me a commission rate, as they "would need to see the property first".

Thanks for the info.

[Davel]

Web site search facility (like Rightmove type thingy), commission charged, service, viewing feed back and sign.

[john_p]

Interesting .. a lot of estate agents seem to regard the web search as an afterthought. Rightmove for example can be horribly out of date and forces me to disregard most of the houses it brings up.

So not much to add really, other than good idea

[Davel]

An up to date search facility, for the area that you cover, may be far better.

You're dead right about Rightmove, but it can be useful at times though.

Maybe even a 'walk through' type viewing facility on line would be useful - if possible.

I know what I mean, I'm just not sure what it's called.

Good luck anyway - hope it works out for you.

At least if you don't need a prestige main street type office, your costs are contained initially....

[Angelis]

Well I'm going to have to put the properties onto rightmove. It's expensive for what it is, but unfortunatly sellers expect it.

My other business is a dotcom, so I'm hoping to integrate both companies together online.

Personally, I think due to the ineternet the days of the estate agents are numbered.

I'm here just to speed it up to that day.

:-)


>> Edited by Angelis on Friday 18th February 19:39

[Snoremeister]

Have a look at Hunters up here in Yorkshire for what you can do with walkthroughs. Go to Sales and you will find a lot of properties have 360 degree layouts.

Sellers need to know why their house is not selling, make sure you get feedback from viewers and pass it to the vendor.

Best thing you can do is make sure you stay in contact with vendors and purchasors, feedback, feedback, feedback. Last thing both parties want to do is chase the Estate Agent. Make it your job to chase the purchase through and both parties will love you forever. - EARN YOUR COMMISSION.