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What Exactly Do Estate Agent Get Paid For

jennifer kennedy By jennifer kennedy on
Badge: Publisher | Level: 5 | Legal Expertise:

In July 2008 my mum passed away quite unexpectedly, leaving quite a lot of legal issues to be sorted, so me being the oldest child I had to sort everything out, my younger brother is only 17 so therefore not old enough to help with any legal matters and there is only the two of us.

During and after the funeral usual family and friends get a chance to grieve, well we didn't we had to clear out my my mum's house quite quickly as there was a small re-mortgage on the house, This hadn't been paid for a few months and had run into arrears which my mum didn't tell anyone that she was in quite a lot of debt with the re-mortgage but also other loan companies including the bank. I had paperwork coming out of my ears and people like family, friends, the in laws and god knows who else giving me their advice some of it good and some of it not so good.

Anyway a few weeks after the funeral I had the house cleared out with the help of my wee bro and my step dad and the paperwork left in with the family solicitor, it was then that we found out that we would have to put the house of for sale as quick as possible, well as quick as six weeks after the funeral, this was to stop the mortgage company from taking any action, so within the six weeks we freshened up the house, cut the grass and give the house a fresh coat of paint, in between this I was dealing with the funeral parlour, registerings my mums death, making arrangements for her ashes to be scattered and many other things as well.

Needless to say that this wasn't an easy time and with everything going on I didn't know whether I was coming or going, So I contacted estate agents and two of which came out and give us a price, again we had opinions coming from everywhere and the house was put on the market, quite rushed. The estate agent we chose was charging an up front fee of £195 then after the house sold we the had to pay £1500 plus VAT, they waived the upfront fee as our solicitor had advised us not to pay any money upfront, they were fine with this and they were quick on the ball to get their sign up outside the house, surprisingly their was a viewing in the first week of the house going on the market, then another two weeks later, I was there for this viewing and was less than impressed, it lasted all of four minutes and the estate agent wasn't even going to let the viewers out to see the back garden. Then the first viewers came back to see the house again and they made an offer, which was quite low so both me and my wee brother had to consider the offer, we accepted later the same day but the estate agent didn't let the buyer know until three days later, from then we told the estate agent we were no longer selling the house, but really we were, I had found a buyer myself. I know that not all estate agents are like this, I was just unlucky but do be careful, do some research before choosing an estate agent.

Over about 8 weeks the estate agent did quite a lot of other things that made us question what we were paying them for, we still have to pay their upfront fees but we have saved around £2000 after the sale of the house, before going ahead with this I did ask my solicitors advice on this matter and she advised to go ahead with it, My advice for anyone in a similar situation dont listen to everyone else telling you what you should or shouldn't do. Think everything through and if you need advice ask for it from one person. I think thats were I went wrong listened to too many people and rushed into everything!! Good luck

Thanks for reading