Results 1 to 5 of 5

Thread: Is an estate agent necessary?

  1. #1
    New Member Hertzel's Avatar
    Join Date
    Feb 2014
    Thanked 6 Times in 4 Posts

    Is an estate agent necessary?

    Please see the below:

    My Opinion:

    If you take a week to sell a house or 3 months the cost Is still the same. A good business idea is to change up the industry. Agents should look into becoming consultants charging a consulting fee, they can still recommend attorneys’ etc... and get a % or a referral fee from these entities. Additionally agents can offer marketing and advertisement services. The possibilities are endless and if agents can add this as an option to clients, who will have the most business? Will make a great part-time opportunity as well for those who are looking.

    What’s your take on this?

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Durban, South Africa
    Thanked 2,397 Times in 2,004 Posts
    Blog Entries
    There are estate agent models already in the market that do as you suggest. I wouldn't say they've overrun the market by any stretch of the imagination. The reality is private selling is a lot easier in a sellers' market. When it's a buyers' market, not only do the private sellers find it tough, it tends to thin out the estate agent market too.

    In terms of the OP and your link - my suggestion is if you don't use an estate agent, at least use a lawyer when it comes to finalising the sales contract.
    Seeing opportunity changes nothing. Seizing opportunity and running with it changes lives.

  3. #3
    Diamond Member Blurock's Avatar
    Join Date
    May 2010
    Thanked 757 Times in 623 Posts
    Blog Entries
    A good estate agent can take away the hassle and also save you money.
    Unfortunately there are many who are giving the industry a bad name.

    I will not risk doing a transaction (buy or sell) without the assistance of a professional. (not a part time - mornings only person)
    Only chickens achieve something while sitting still...

  4. #4
    Diamond Member tec0's Avatar
    Join Date
    Jun 2009
    South Africa
    Thanked 435 Times in 382 Posts
    Blog Entries
    I used the services of a good lawyer she was very helpful and I had no problem at all.
    Anger isn’t a substitute it is a way of life.
    Disclaimer: everything written by me can be considered as fictional.

  5. #5
    Gold Member Houses4Rent's Avatar
    Join Date
    Mar 2014
    Cape Town
    Thanked 52 Times in 48 Posts
    I hate most agents with a passion as they fail to do basics. They might work well for Joe Blogs owner occupier buyer, but not for me. I invest to have a pension. So I need basics like income and expenses of any property I look at. The minute I ask those questions and dare to ask for AGM minutes and financials etc I neve hear from them. I lost count on how many enquiries I send out, but I can probably count the the ones who did respond relevantly to a certain extend on both my hands. Not one of my enquiries asks for a viewing, but yet almost all calls I get invites me for a viewing. When I suggest to to read my email and answer relevantly they get all upset and at times even hang up on me.

    Dispite the fact that
    a) there are only around 32000 estate agents left in RSA (there were over 84000 or so at soem stage) and
    b) that the agents average age has changed from 54 in 2013 to 57 in 2014 (so many in that age should have plenty experience) and
    c) the EAAB has introduced a lot of qualifiacation hurdles

    I think most agents are still useless for my investment buying purposes. However, it always depends on as to how much knowledge the seller has him/herself whether I would suggest to use an agent or not. And as it was said before it also depends on the market situation. Its certainly a good idea to use a lawyer to check any OTP before signing it. And that I say regardless of whether an agent has been used or not.

    So if I ever seel
    "We treat your investment as we treat our own"
    Global Residential Property Investor / Specialized Letting Agent & Property Manager

Similar Threads

  1. Why should one use an estate agent?
    By adrianh in forum General Business Forum
    Replies: 23
    Last Post: 05-Feb-14, 11:34 AM
  2. [Question] How can I get an estate agent to pay me my rental amount?
    By madonsdu in forum General Business Forum
    Replies: 9
    Last Post: 27-Mar-11, 06:18 PM
  3. [Opinion] Problem with Estate Agent
    By Singhms in forum General Business Forum
    Replies: 3
    Last Post: 21-Jul-10, 09:40 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts