Is this estate agent comm hectic? Your experiences please.

There is an estate agency in Somerset West called Monique Damseaux Properties, seeing their lavish way making a living, everybody wants be an estate agent…

As to my knowledge, Abzo is correct with his margins.
 
7.5% is on the high side but it's not unheard of or ridiculous. You've got to bargain with them. They probably would have settled for 5%.
 
Nick333 said:
7.5% is on the high side but it's not unheard of or ridiculous. You've got to bargain with them. They probably would have settled for 5%.
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The le Roux's have never been mad about having to bargain. Be fair from the beginning or GTFO! In this case it seems that the game will have to be played though I guess.
 
Ockie said:
Fine...but why the hell do they work with 7% here while in the UK they work on 1.5%? Is this just a case of we getting screwed blind and we are happy to bend over for it?

I think 4% is more than fair...maybe 5% if he is a hot hairy hunk and does my open house with his shirt off! :D
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Well for one thing houses are much more expensive in the UK. A basic and pretty small family house can easily cost £300,000. You could the same thing in South Africa for R900,000.

Agents will usually put down a high percentage and then it is up to the customer to negotiate down. Also while I'm of the opinion that most agents are lazy and incompetent, if not outright dishonest, there are some that really do work hard to find buyers.
 
noxibox said:
Also while I'm of the opinion that most agents are lazy and incompetent, if not outright dishonest, there are some that really do work hard to find buyers.
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That I do agree with. My friend in Cape Town is one of those. Even when he is visiting here in Jhb and we spend time together he is constantly on the phone with his PA ... then on the email ... then phoning a client back with a offer etc etc. I have had to bite my tongue and tell him to get off that fcking phone and pay me some attention or I am leaving and he can find his own way home....but shame....he is very passionate about his work and does work hard so I let him be.
 
Lately it's been becoming quite clear to me why every 2nd person on the planet wants to be an attorney and get in bed with an estate agent.

Self entitled pompous pricks.
 
F1 Fan said:
I understand that their income is not set in stone every month, but that is not my problem. Added to that, the value of the house has no impact on their abilility to sell.
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But that's how the pricing of everything works.

I only say this, because I bought m house last August, a day after it was on the market. So basically the agent did absolutely nothing apart from seeing me twice. First time was to see the place, second time was for OTP.
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Other times they might spend months trying to sell a house.
 
Fulcrum29 said:
There is an estate agency in Somerset West called Monique Damseaux Properties, seeing their lavish way making a living, everybody wants be an estate agent…

As to my knowledge, Abzo is correct with his margins.
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That women is a legend with her image and her fascination for pink.
 
abandonallhope said:
Lately it's been becoming quite clear to me why every 2nd person on the planet wants to be an attorney and get in bed with an estate agent.

Self entitled pompous pricks.
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My dad was an estate agent in the '80s - nothing has changed.

There where more registered agents in the Strand than properties sold (900 sales, 950 agents) and you had a situation where the top 5% would sell 80% of the property. Everytime he sold a property, another agent went without a sale for another year. What kills the market are bored housewives and retired old men who think they can sell property.
 
noxibox said:
But that's how the pricing of everything works.


Other times they might spend months trying to sell a house.
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Fair enough, but again I don't think it is justified. Even IF they spend months, what do they really do? An open house for two hours every second week or once a month? I'm not saying they shouldnt get anything. But if I were selling a million rand property, I would give them 30k max. If it took months to sell, I would be willing to pay more
 
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Using the "non big names" sometimes helps a lot. Sought of like specialists of the area. I know the lady who sold our house was the specialist in our area running her own agency, she charged us 3%. People we bought from where using a specialist (small agency) in that area, and they got charged 3.5%.

I think this is more reasonable. In the same breathe, the so called small specialist in lonehill will charge you 7.5% standard, and won't deviate from that.

Funny thing, our house was sold without a show day with just 2 people coming to look at it. In the same complex for the same price using a "big agency" our neighbours still haven't found a buyer 5 months later.
 
4cer said:
Using the "non big names" sometimes helps a lot. Sought of like specialists of the area. I know the lady who sold our house was the specialist in our area running her own agency, she charged us 3%. People we bought from where using a specialist (small agency) in that area, and they got charged 3.5%.

I think this is more reasonable. In the same breathe, the so called small specialist in lonehill will charge you 7.5% standard, and won't deviate from that.

Funny thing, our house was sold without a show day with just 2 people coming to look at it. In the same complex for the same price using a "big agency" our neighbours still haven't found a buyer 5 months later.
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Luck plays a part too. Perhaps your place was available at the right time. Also consider, there place may be crap/badly maintained.
 
F1 Fan said:
Fair enough, but again I don't think it is justified. Even IF they spend months, what do they really do? An open house for two hours every second week or once a month? I'm not saying they shouldnt get anything. But if I were selling a million rand property, I would give them 30k max. If it took months to sell, I would be willing to pay more
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Do you understand marketing (and sales), especially being in Sales?

Security.
 
Fulcrum29 said:
Do you understand marketing (and sales), especially being in Sales?

Security.
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Yes I do, argubly better than you do, which is why I can comment on this. If they are required to do some serious legwork to get the house sold, then I am completely willing to pay them for it.

But from experience, most of them just want to make a quick buck. Compton_effect SO is a perfect example of someone that I would be willing to pay more to.
 
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The Estate Agency Affairs Board has started sorting this mess out. There's been a serious cull in the market already.
But it will take time. You now need your certification to be a agent. Without it you cant do transfers etc.
My wife works real hard on her sales, I've seen her in action, she tries to get the best for all parties. She's currently doing her National Diploma in Real Estate - spends late nights working on her projects and case studies.

cbrunsdonza said:
My dad was an estate agent in the '80s - nothing has changed.

There where more registered agents in the Strand than properties sold (900 sales, 950 agents) and you had a situation where the top 5% would sell 80% of the property. Everytime he sold a property, another agent went without a sale for another year. What kills the market are bored housewives and retired old men who think they can sell property.
Click to expand...
 
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