Estate agent horror stories
Estate agents have a bad reputation - but is it deserved? A recent investigation by the OFT concluded that consumer satisfaction levels have actually improved.
However, it also found that there is little price competition among firms and many estate agents ‘favour’ buyers who use ancillary services such as mortgage advice, surveys, and conveyancing.
Have you have a bad experience with an estate agent or do you work in the sector yourself?
Share your views on estate agents in the Moneywise forum...
Your Replies
Estate agents are second only to recruitment consultants in, what I call, the useless MF scale. They are driven by targets and commissions. This unfortunately creates a scenario where you are promised the world and mountains appear to actually move, at least up until the point where you sign on that dotted line. At this stage, phones stop getting answered, extended holidays are taken and person could be excused for getting so concerned that a missing person report might be filed with the local constabulary. Hero to zero with the flick of a pen tail.
I don't like to generalise but its a profession of thieves and morons. A little harsh maybe but true nonetheless.
Estate agents are second only to recruitment consultants in, what I call, the useless MF scale. They are driven by targets and commissions. This unfortunately creates a scenario where you are promised the world and mountains appear to actually move, at least up until the point where you sign on that dotted line. At this stage, phones stop getting answered, extended holidays are taken and person could be excused for getting so concerned that a missing person report might be filed with the local constabulary. Hero to zero with the flick of a pen tail.
I don't like to generalise but its a profession of thieves and morons. A little harsh maybe but true nonetheless.
Kevin you knob, being an estate agent is just a job to most employed in the sector - it is a sales role and sales roles are competitive and cut throat. I am sorry if somewhere along the line you feel you were just used to gain a sale but get over yourself - we're here to make a living (I am sure I do not need to inform you of how horribly low the basic salary in a sales role actually is - commision is key).
Grow up and put on your big girl panties and take responsibility - you are allowing whatever situation to happen to you and as such it is your fault - man up!!!
I am sick of listening to 'buyers' saying how frustrated they are with the estate agents / recruiters they use - remember; YOU DONT PAY OUR FEES AND SALARIES (very few do anyway) and as such our goal is to work for the paying client - the vendor - and to make sure we can get as much money for their property as possible.
You are probably some city working dork who has had everything handed to him in life, wake up sunshine - this is the real world.
Dont be angry at the agents - we are just family people trying to earn a living in an ever changing and difficult sector.
Kevin, your so right,......But very sad to say,that last statement,is true with many services in Britain.
Solicitors,Banks,Council,Garages,Builders,NHS, Where does it stop.........
Don't know where Kevin lives, but he should really think about moving to another town. I have numerous dealings with estate agents(as my work entailed moving on a regular basis) both throughout England and in Northern Ireland, and apart from one 'guzzumping' by an estate agent in Pontefract (Yorks)I have experienced nothing but professionalism and courteousness by all the others (12+). May I advise Kevin, that if he should experience any difficulties with estate agents, complain to their professional body instead of wingeing on line
Very harsh!
I work for an estate agent (albeit top end of the market) and our customer service is second to none. We all sttend Compliance courses...along with Property Misdescriptions courses and we pride ourselves on our reputation(s).
It's unfortunate that some of the more unscrupulous agents give us all a bad name but what can we do about it?
Incidentally, we do not work on commission and targets....we all work as a team and reap some reward in profit share.
Ok, my whinge over with. All I'm saying is ...don't tar us all with the same brush
I agree with Kevin-
Anybody who builds an industry on sitting at a desk waiting for two people coming into their office, one a seller and one a buyer, then simply putting the two of them in touch for a 'mere' 2% is surely having a laugh!!
And who managed to come up with the idea of calculating their commission as a percentage of the sale? Is it really that much more work to sell a £1,000,000 property than it is to sell a £100,000 property?
I'm house hunting at the mo and have met with both ends of the scale. Some estate agents are great, give sensible opinions about your chances of finding what you ae looking for and other options to be considered. I've seen 1 that over-value property and get very upset when you tell them this (even when other estate agents agree). I've had one not bother to show up to appointments and not call to tell you that they aren;t going to make it. And one who's opening statement was to encourage me to view a sold stc property on their books and do a little guzzumping. So it's like most professions, a complete cross section, I'm slowly learning which ones to avoid and which to stay in touch with.
kevin you are right. estate agents are a bunch of unscrupulous people . they are the most scummy ppl i have ever come across. everything you have said about that is right..extended holiday, phones not answered..everything is horribly real and sad. i cant agree more with you .
Kevin,
I am not an estate agent - but I do work in recruitment.
In regards to your comment on estate agents - I presume estate agents don't call you back because you have wasted their time, or you have unrealistic views on what you can actually afford! I can assure you if you were a credible purchasor they would move heaven and earth for you.
In regards to the recruitment side - I guess your applying for the wrong jobs. Try reading the advert before you apply.
Chin up.
I am new to this site and consider myself to be a reasonable person. May I suggest Kevin that you take a more pragmatic approach? Expressing your opinion in such a way is quite offensive to those honest people in both the Recruitment Sector and Estate Agency Sector. A little less attitude and more fairness perhaps? David Gillespie.
MyEstateAgentJobs,
Have you not considered that if everybody went around not offending anybody, then nobody would know the truth if it hit them in the face?
Agent: "That will be 2% please because I have toiled to sell your property, beautiful though it is"
Seller: "Oh, I know. You've worked so hard. Here, have a bonus on top of the 2% for your troubles. I've seen man build bridges, send rockets to the moon - but nothing - NOTHING is as hard as the work which you've put in to sell my property. I really can't thank you enough."
There may be a hint of sarcasm in the above. See if you can spot it.
i have to say not all are as devious and dangerous to health and money, but many like some builders should be locked up or doing community service which has like really been shown to help these rats
I work in estate agency only just gotten into the business, i work mainly on the lettings side but had my dealings with sales. I hate how people paint everyone with the same brush, its the generalisation that really annoys me. There are some aweful agents out there and I know some of them I can't believe some people arew allowed to actually practice.
The purchaser and sellers do not help in estate agency, the seller wants too much even though we tell them its not worth it then moan when having no viewings, the purchaser comes in too low on offers and is unrealistic and when we tell them the seller wont accept it they think we are trying to milk them. Find a good agent, use them and spread the word that they are good that way the good win :)
my house got sold by the 13th august 10 and by september 22nd 2010 the week of the completion the buyers wont to show there daughters frends were they will be living so at 2pm the 22nd sep the buyers were allowed back in to the house by alexanders to show there daughters frends could see were they will be living being that they haddent seen the house before then anyway by the following morning the 23rd of september the buyers withdrawn from the sale
I could do with knowing would I be in my wrights were withdrawing my house from alexanders from there advertice from them after whats happered with our sale
thanks audrey
Estate agents and recuitment consultants share similar low educational and capital barrier to entry, lack of formal regulation and weak self-regulated standards, so abusive practices are not surprising. At the top end, it pays to develop relationships with search consultants and headhunters as there is limited liquidity and their market intelligence and network may be of real value. However, in a liquid market with freely available comparables it is hard to see how the value that the average estate agent adds to a transaction equals the fee paid by the seller (depending on how the seller values his or her time). So, if buying, circumvent estate agents by very politely approaching house owners in the area in which you want to live with realistic offers. If selling, sell privately. Or, alternately, take advantage of the low educational and capital barrier to entry, set up your own estate agency (if you can live with the stigma), undercut and outperform your competitor estate agents, and good luck!
We made the mistake of telling our estate agents that we were going away for a week, and caught them together in our bed! What made it worse was the fact the female concerned (the owner of the business) didn't seem to think she had done anything wrong! Thankfully we found a far more professional agent to deal with afterwards that got us where we wanted to be