I’m an estate agent! Ask me anything!

[FucksBizz]

I’m an estate agent. I find it’s like being a parking attendant, everyone loves to hate us
Ask me anything and I will be very honest!

[nannynick]

Have you sold much this month? Is there any particular kind of property which is selling better than others in this pre-Brexit environment, such as flats vs small houses vs large properties?

[jemimafuddleduck]

How much commission do you personally get from the sale of a property?

[Itsagamerchanger]

Practical questions:

1. what makes the most difference to the value of a home in terms of doing it up? So, are new kitchens and bathrooms worth the expense?
   
   
2. what is the least effective thing you can do? We were told that doing our driveway might make the house more saleable but doesn’t add value...sadly it was desperate so we had to do it anyway!!
   
   
3. Whenever I watch homes under the hammer everyone always uses magnolia colours...is this the best thing? Don’t houses with a bit of colour sell as well?
   
   Thanks!!

[Lumene]

Have you or colleagues ever had a nosy at anything personal in someone’s home?

[XXcstatic]

How much difference is Brexit making to the housing market?

[whoischerylsstylist]

How old are you? I'm buying a house at the moment and all the estate agents are so young!!

[Finfintytint]

Are sealed bids still a thing? I suspect when told by an estate agent once that the property we were interested would be involved with a sealed bidding process as there were several interested parties.

I suspect the other bidders were a figment of the agent’s imagination though.

[FucksBizz]

Have you sold much this month? Is there any particular kind of property which is selling better than others in this pre-Brexit environment, such as flats vs small houses vs large properties?

I work in a major city that isn’t London. On average my company sells 4 or 5 properties a week. Victorian terraces always sell well, and quite frequently go to bids, while anything on a high street or main road without parking will tend to struggle. One beds are always harder to sell, but nicer Maisonettes for some reason seem to be quite popular at the moment. Loft conversions are as popular as always. Brexit is mentioned a lot, and I think it’s possible that it has made some people more reluctant to put their house on the market, but those already in the process of buying and selling it hasn’t made any difference whatsoever.

How much commission do you personally get from the sale of a property?

Believe it or not I don’t personally get anything at all from the sales of houses, but that’s because I’ve been working for the company for less than 6 months. The company takes between 0.8 and 1.5% of the value of the house, and that is divided between all the estate agents working for the company, which right now is 6. So I assume the amount I would personally get would vary hugely. I can’t really give you a range because I haven’t had any yet!

[FucksBizz]

1) what makes the most difference to the value of a home in terms of doing it up? So, are new kitchens and bathrooms worth the expense?

An extra bedroom/reception room, or a loft conversion. Basically anything that will give you another room, but short of structural work, new bathrooms can be worth it, but kitchens very rarely are. It’s fairly common for sellers to spend thousands on a new kitchen, only for viewers to say ‘oh we’d have to rip that out!’. It doesn’t matter if it’s new. If they don’t like it, they don’t like it.

2) what is the least effective thing you can do? We were told that doing our driveway might make the house more saleable but doesn’t add value...sadly it was desperate so we had to do it anyway!!

On street parking is a huge issue in the city I work in, so having a drive is fairly important to lots of buyers. But you’re right, it doesn’t add value per se, it’s just one of those niggly things that could put people off. I find that one of the most pointless things you can do is literally anything at all to the garden, building a garage, landscaping the garden, putting up a new fence ect. It’s all a waste of money and will not add value.

3) Whenever I watch homes under the hammer everyone always uses magnolia colours...is this the best thing? Don’t houses with a bit of colour sell as well?

I’ve never once had a viewer comment on the colour of any house. As long as it’s not dark purple or anything that looks like it’ll be the a pain to paint over, your fine. Assuming it’s not black or anything ridiculous, people won’t care at all what colour it is. I believe the vast majority of buyers paint anyway.

[FucksBizz]

Have you or colleagues ever had a nosy at anything personal in someone’s home?

I don’t ever open drawers or cupboards, but if I see anything interesting I usually look in occupied houses it’s usually photos. I deal with quite a few deceased estates, and they can be often left exactly as they were the day the owner died, and the contents of them can be fascinatingly sad. I did a viewing at a house last week where the lady’s mobile phone and glasses were still on the side table by her chair, exactly where she presumably left them.

If there are notes left around I find it really hard not to read them! Natural curiosity I suppose.. I saw one the other day taped to the wall in another deceased estate that said ‘carers: please make sure Mum has finished her meal before you leave’ which is incredibly sad.

[greyblanket1]

Why do you (plural) pressurise tenants to allow inspections when it is their legal right not to allow them?

[Junglerum]

Do you always say there’s another interested party? Whether there is or not? I used to be a mortgage advisor and people always had pressure put on them to the point I knew it couldn’t be true every time

[greenelephantscarf]

what's the most annoying question buyer and sellers can ask?
wwyd to change the buying process in england?

[FucksBizz]

How much difference is Brexit making to the housing market?

None. It might put people off putting their houses on the market, but not to the extent that we are seeing a significant decrease in numbers. It’s definitely not putting people off buying.

[FucksBizz]

How old are you? I'm buying a house at the moment and all the estate agents are so young!!

I’m in my mid twenties. It’s such a stereotype, but in my experience it’s very true. They are also usually male, there’s a certain type of young men in cheap suits that estate agency seems to attract. They are the type that wanted to make it into finance but couldn’t manage it, they are also the type to say ‘I work in property’, rather than saying ‘I’m an estate agent.’

[Therighthonourable]

We have our eyes on a house that needs a lot doing to it in our eyes ( new bathroom, they have painted it bright orange and green and red). The house was lovely before they bought it and they have done nothing to maintain it. Garden has been run down, walls and carpets are dirty etc. It has been on the market for a couple of months with no interest. We like it and it's potential but as first time buyers we have a very limited budget. My question is, we want to put an offer in for 10k less. This would be a bid at the same price they purchased the property at in 2015. What would your advice be? Is this cheeky of us?

[FucksBizz]

^Are sealed bids still a thing? I suspect when told by an estate agent once that the property we were interested would be involved with a sealed bidding process as there were several interested parties.

I suspect the other bidders were a figment of the agent’s imagination though.^

They are very much still a thing. They happen when we think a place will be extremely popular, or when we think it might go for over asking price. It’s not that common, we only get 2 or 3 a month that go to sealed bids. I don’t make up other bidders, I’ve never once done this and never would, and as far as I know neither do or have my colleagues. I’m not saying it never happens in estate agency, but it doesn’t in my company.

[FucksBizz]

Why do you (plural) pressurise tenants to allow inspections when it is their legal right not to allow them?

I don’t work in lettings so I don’t know the answer to this. For an accurate answer you would need to ask a Lettings agent. However, I’m going to hazard a guess that its because that’s what the client (the landlord) wants. Lettings agencies work for the landlord, not the tenant, just like estate agencies work for the seller, not the buyer. We will go to great lengths to keep our client happy, and if that comes at the expense of the buyer then the company will do it anyway. I imagine it’s the same in Lettings. It’s always going to be a sellers market. I sympathise though, I can’t think of anything worse than having my home inspected. Renting, and the way that tenants can be treated, is pretty soul destroying.

Do you always say there’s another interested party? Whether there is or not? I used to be a mortgage advisor and people always had pressure put on them to the point I knew it couldn’t be true every time

No. Which isn’t to suggest it never happens, but I can only speak for myself, and I have never done this. Sometimes people will say they’re very interested, they’re cash buyers, and they’ve no chain, and then I’ll phone them for feedback and to see if they’ve made any decisions, and they’ll say ‘oh we weren’t thinking of offering!’ Well why on earth did you tell me you were interested then?!

[HaroldsSocalledBluetits]

Can you confirm that lettings agents are the lobotomized bottom feeders of the murky property market world who consistently fail to realise that if it weren't for the tenants they treat like shit they'd be soon out of a job? Asking for a friend.

[justasking111]

Do you find the market seasonal as in it is quieter certain months than others?

Is there a best time/worst time to put a property on the market.

[FucksBizz]

what's the most annoying question buyer and sellers can ask? wwyd to change the buying process in england?

Buyers is hands down ‘will my offer be accepted?’ I don’t bloody know until I’ve asked the seller do I?!

Other annoying buyer questions include ‘what are the measurements of the radiators?’
‘When was the boiler last serviced?’
‘How long has it been on the market?’

The last one is quite an innocent inoffensive question, and I feel bad that it annoys me, but it does, because how long it’s been on the market is irrelevant to whether you like it or not, and unless sellers are absolutely desperate it usually won’t affect how low they are prepared to go. Unless it’s been on the market for a year or more (which literally never happens!)

The most annoying question sellers ask is:
‘Why haven’t you put in the online description that my garden is west facing?’
Or, ‘why haven’t you taken a picture of the left hand corner of my ten year old conservatory?’

Repeat the question, inserting as many irrelevant details as you can think of

The one and only thing I would change about the buying process is to introduce a time limit on solicitors. I would fine them for delays as about 80% of unexpected and unessecary delays are at the solicitor’s end.

We have our eyes on a house that needs a lot doing to it in our eyes ( new bathroom, they have painted it bright orange and green and red). The house was lovely before they bought it and they have done nothing to maintain it. Garden has been run down, walls and carpets are dirty etc. It has been on the market for a couple of months with no interest. We like it and it's potential but as first time buyers we have a very limited budget. My question is, we want to put an offer in for 10k less. This would be a bid at the same price they purchased the property at in 2015. What would your advice be? Is this cheeky of us?

No it’s not cheeky at all. Quite normal really. I would go for it, IF you are prepared to quite quickly up your offer by £5k, to £5k under the asking price. I obviously don’t know what the market is like where you live, or the seller’s position and how quickly they want to move, but I would go for it, but be prepared that it might not be accepted. In fact I’d be surprised if it was accepted immediately without a bit of back and forwards up towards a few thousand under asking. Have a plan of what you will do ready, don’t wait for it to be rejected, then start discussing your next move. Know in advance. Very quickly upping your offer by a small amount following the initial rejection shows that you mean it, and you’re very responsive. This usually goes down well and you rarely need to go backwards and forwards again. Good luck!

[FucksBizz]

Can you confirm that lettings agents are the lobotomized bottom feeders of the murky property market world who consistently fail to realise that if it weren't for the tenants they treat like shit they'd be soon out of a job? Asking for a friend.

I’m afraid not. Not universally anyway!

[FucksBizz]

Do you find the market seasonal as in it is quieter certain months than others?

Is there a best time/worst time to put a property on the market.

Yes very much so! December and January and quite quiet, and it usually picks up around March. The summer is the best time to sell. My advice would be to never put a property online at the end of November/start of December, because there are about 3 weeks in December that are just ‘dead’ weeks where nothing happens, and when in January, viewers inevitably ask ‘how long has it been on the market?’, I will have to answer, ‘about 6 weeks’ and they’ll go ‘oh that’s quite a long time’ and I will need to explain that half of those weeks were unusable, and really it hasn’t been on for very long at all in ‘real’ time.

[AgeBeforeBeauty]

What's been the cheekiest offer a buyer has made that you know of?

[gudrunandtheseeress]

I'm told you would be quite safe swimming with sharks, they would leave you alone out of professional courtesy....