Estate Agents Prices - Increase of 33%

KalEl said:
Murray, with all due respect what you guys do is not rocket science.
Claiming there's some great skill in doing what any spoofer with a Mark IV Golf and a mobile phone can do is an insult to people's intelligence.
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Then why do 90%+ people use EA's - lack of intelligence?

Not all EA's are the 'mobile phone and VW Golf' type. I certainly am not anyway.

The simple fact that I stated was that (going back to the original post) fees HAVE been lower during the boom , and WILL rise after it.

If any spoofer can make a go of this industry , join in ! Easy money according to you. If it is so easy , why do so many new auctioneer companies go bust so quickly? - You will see MUCH more of this by Dec 2007.IMHO.

Your abrupt and simplified response might indicate that you may not have the people skills needed under pressure in this business , but Im sure you are great in your own field.:D
 
murray said:
Then why do 90%+ people use EA's - lack of intelligence?

Not all EA's are the 'mobile phone and VW Golf' type. I certainly am not anyway.

The simple fact that I stated was that (going back to the original post) fees HAVE been lower during the boom , and WILL rise after it.

If any spoofer can make a go of this industry , join in ! Easy money according to you. If it is so easy , why do so many new auctioneer companies go bust so quickly? - You will see MUCH more of this by Dec 2007.IMHO.

Your abrupt and simplified response might indicate that you may not have the people skills needed under pressure in this business , but Im sure you are great in your own field.:D
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Murray, no need for personal insults! I hardly see how me holding the view that being an EA is not rocket science would impede my ability to do the job. Selling is selling.
The reason 90% of people use EA's is lack of time to do it themselves.
Personally I'll be glad if EA's like the ones exposed by Primetime go bust...that's karma. I have had personal experience of phantom bidding...once from the company exposed in Primetime and once from one of the largest companies.
Can you honestly say, hand on heart, that selling houses and apartments is difficult? Of course not everyone could do it, but anyone with a modicum of common sense and good people skills.
 
KalEl said:
Murray, no need for personal insults!
Was'nt an insult , just an observation .

I hardly see how me holding the view that being an EA is not rocket science would impede my ability to do the job. Selling is selling.


The reason 90% of people use EA's is lack of time to do it themselves.
Therefore open to market forces , I get a mechanic to fix my car because he knows better and I havent got the time to mess about with it even though I probably could fix it if I messed with it enough , or maybe i just would not do it as well as him.

Personally I'll be glad if EA's like the ones exposed by Primetime go bust...that's karma.100% agree.

I have had personal experience of phantom bidding...once from the company exposed in Primetime and once from one of the largest companies. As you say , 1 or 2 'bad eggs' in every industry.


Can you honestly say, hand on heart, that selling houses and apartments is difficult? You have to be skilled to beat off the fierce competition from other EA's before you even start thinking about selling it - so no - it's not 'easy' at all. An EA can drive around all day valuing property and not being instructed to sell it. If you are instructed now, gone are the days of multiple bids on one property , when it was easier to sell , but your fee was halved.

Of course not everyone could do it, but anyone with a modicum of common sense and good people skills.
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'any spoofer with a Mark IV Golf and a mobile phone can do it' - I beleive these are your words.

KalEl - I dont want to get into a slgging match here , its just annoying when people see a situation from one side only , dont look any further into the facts etc - EA's work very hard & long hours and despite what people think - only the few at Senior management up earn the big bucks.
 
murray said:
'any spoofer with a Mark IV Golf and a mobile phone can do it' - I beleive these are your words.

KalEl - I dont want to get into a slgging match here , its just annoying when people see a situation from one side only , dont look any further into the facts etc - EA's work very hard & long hours and despite what people think - only the few at Senior management up earn the big bucks.
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No need for a slagging match at all...the very fact that you're here suggests you are different from the stereotype I described. Your posts are generally fair and even handed and I commend you for facing down the many trenchant critics of your profession.
I cannot agree with you on this point however. Selling property is not difficult. I guarantee you I could start today and be pretty good at it.
And comparing EA's to mechanics is makes no sense at all. They have technical knowledge which I do not have. I freely admit I need them
 
KalEl said:
No need for a slagging match at all...the very fact that you're here suggests you are different from the stereotype I described. Your posts are generally fair and even handed and I commend you for facing down the many trenchant critics of your profession.
OK, thank you.


I cannot agree with you on this point however. Selling property is not difficult.
My point was that people do not just ring an EA up and give them the property to sell. A good EA will be skilled enough to secure the business - usually leaving at least 2 other EA's that have not secured the business and have wasted their time.
Finding a buyer can be easy or hard. depends. Finding a buyer that can proceed in the timescale that fits with your client can be very difficult , when many bidders are (understanably) trying to present themselves in the best light (not always truthfully).

I guarantee you I could start today and be pretty good at it.
I dont think you can say this having never sold a property.
Also would you be prepared to work 60 hrs pw (inc. Saturdays) , use your own car & petrol , and be paid a basic of 20k ish ?? The rest of your money based on a commission that is payable maybe 3 months after you closed the deal? A deal that you would have to have beaten another EA to (like me with 15yrs experience?) This is a genuine question and sincerely not meant to offend at all.

And comparing EA's to mechanics is makes no sense at all. They have technical knowledge which I do not have.
I have technical knowledge of this industry , the type of knowledge that must be perfectly delivered in a way that appeals to , and instills confidence in , the people from different backgrounds that I meet every day.

I freely admit I need them
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90%+ of people need us , which is why they do. there has been numerous 'internet- sell it yourself 'type companies - they never get anywhere. If you know an EA , ask them what it is like when a vendor hangs around to talk to a viewer !!, or a private seller runs into a negotiation problem towards the closing of their sale when their contract is'nt signed, the kids have been registered with another school , the builder they are buying off is threatening to pull out on them etc etc etc........
 
murray said:
90%+ of people need us , which is why they do. there has been numerous 'internet- sell it yourself 'type companies - they never get anywhere. If you know an EA , ask them what it is like when a vendor hangs around to talk to a viewer !!, or a private seller runs into a negotiation problem towards the closing of their sale when their contract is'nt signed, the kids have been registered with another school , the builder they are buying off is threatening to pull out on them etc etc etc........
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It would me an interesting challenge to pit my wits against a full-time EA...but perhaps you've just proven my argument. The vast majority of the time I wouldn't be competing with someone like you with 15 years experience. I'd be up against the downtrodden 20K a year merchants you've described.
Getting rid of the spoofers who've done untold damage to you profession is in all our interests...in yours more than most.
 
The fact of the matter remains that EA fees will only go up if people are prepared to pay them. If you are unhappy with an increase in your EA fees, you should be the person raising it with them and refusing to pay.
On the other hand, you cannot expect anybody to actively market an item on your behalf and do all the viewings, phone calls, updates, travelling etc without proper compensation for their time.
I too resent the comments suggesting that anybody could be an EA. I've worked in the property business for donkey's years but amn't qualified to act as an EA. The people I work with are extremely well qualified, educated and have masses of technical experience. Sure I've plenty of experience, but I wouldn't be as arrogant to think that I could do the same job as the gentleman/lady sitting next to me.
In reference to the person referring to certain agencies "giving" employees cars - As far as I am aware these cars belong to the companies in question and are not for personal use, they are not given to employees. As Murray quite rightly points out, EA's must use their own vehicles for the purposes of work and do not have them provided to them.
 
Fair point , but there has to be one chief & many indians , like in any other business,

the question I asked was ; would you join the ranks of the 20k merchants? then earn maybe c.10% commission of the discounted EA fee IF you win the business AND it sells successfully ??
Because it is very unlikely anyone would be offered a better package than that starting out .

the 'spoofers' are on their way out -ie; the ones that own their own EA companies with only a couple of yrs exp./ and the salesmen that can only sell in the good times.

I dont think I have proven your argument at all . I still value property all the time. There are guys - like your primetime friend - who have been around for a long while ( people have short memories with regards to scandals unfortunatly) also, as the 'spoofers' get laid off, the Managers,Partners, Bosses etc. will have to get their hands dirty and get out there and sell , so in the hypothetical case you gave , you would be up against the likes of myself. (who knows, you might teach me a thing or two !)
 
OK, what's involved in selling a house?

Meet the vendor. "Hello EA, I want to sell my home. How much do you charge?"
"For you, a straight percentage...say 1%?"
"My friend was offered .6%!"
"OK, say we meet half way....8%?"
"Deal"

Plan the campaign, ie stick it on myhome.ie.

Take calls on my mobile.

Go and meet prospective buyers...smooth talk them, highlight the good points, downplay the bad. Probe for information about their financial situation. Maybe, heaven forbid suggest there are bids in already.

Wait for offers...if there are some extract the most on behalf of my client. If there aren't lower my client's expectations.

Be safe in the knowledge that nothing I say or the brochures say is legally binding

Collect my money

Forgive my cynicism
 
Errr.... yup - easy as that . Sure we should all be millionaires.!!

And you still have not answered the question asked of you.....twice.
 
murray said:
Fair point , but there has to be one chief & many indians , like in any other business,

the question I asked was ; would you join the ranks of the 20k merchants? then earn maybe c.10% commission of the discounted EA fee IF you win the business AND it sells successfully ??
Because it is very unlikely anyone would be offered a better package than that starting out .

the 'spoofers' are on their way out -ie; the ones that own their own EA companies with only a couple of yrs exp./ and the salesmen that can only sell in the good times.

I dont think I have proven your argument at all . I still value property all the time. There are guys - like your primetime friend - who have been around for a long while ( people have short memories with regards to scandals unfortunatly) also, as the 'spoofers' get laid off, the Managers,Partners, Bosses etc. will have to get their hands dirty and get out there and sell , so in the hypothetical case you gave , you would be up against the likes of myself. (who knows, you might teach me a thing or two !)
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I think you're right...as the market slows your profession will return to being a profession. The real pros will come to the fore and the spoofers will be weeded out.
The scenario I described above is merely me being one of those spoofers which is unfortunately how it's been in recent memory.
I dealt with one of those guys in the PT programme and found it surreal to be honest!
 
murray said:
Errr.... yup - easy as that . Sure we should all be millionaires.!!

And you still have not answered the question asked of you.....twice.
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No I would not...were the boom still going I might consider investing in an EA firm though!
 
I'm sure Murray will add to this BUT:

Take phone call from vendor
Appraise vendor's property
Issue sales or letting appraisal
Agree marketing budget and fees with vendor
Design marketing brochure, advertising
Issue marketing brochure to interested parties
Carry out viewings on the property
Liaise with the vendor's solicitor
Agree terms on the property
Take booking deposit
Issue details of the terms to all parties and their solicitors
Assist solicitor where needed to expedite the deal
 
If EA's fees do go up, or more likely when they go up, they are gonna have to work harder to sell the house but they're also gonna face fierce competition from the EA's that dont put up their fees. This will prob mean they're gonna have to work even harder to persuade people to choose their service so they might get more than they bargained for.
 
Or less volume means that EAs will be forced to raise commision or go out of business.
 
So why did you not invest in an EA at the boom?

People will always have and always will need EA's to do a job for them.

But I think we have covered the reasons why (re OP) EA fees will rise , eventually , after the inexperienced/heavily borrowed EA's go to the wall.
 
mo3art said:
I'm sure Murray will add to this BUT:

Take phone call from vendor - Hi, you want me to sell your home? OK
Appraise vendor's property - Is it a kip? No...ok I can sell it.
Issue sales or letting appraisal -Document your thoughts on viability.
Agree marketing budget and fees with vendor - standard
Design marketing brochure, advertising - standard, just copy old one.
Issue marketing brochure to interested parties - handing people stuff
Carry out viewings on the property - stand around, be nice, answer q's
Liaise with the vendor's solicitor - here's the deal, sort it out
Agree terms on the property - buyer wants to buy, seller wants to sell
Take booking deposit - take a cheque...be careful not to lose it
Issue details of the terms to all parties and their solicitors
Assist solicitor where needed to expedite the deal- ring the buyer/seller, "can we speed this up?"
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