Agents' Fees - A View From The Front Line

Simon Bayliss of Oxford Homes Direct writes in response to 'Is Henry Pryor Right?...'

I've believed for a long time that estate agents have charged too high a fee given the job has got much easier over the last six to seven years. It's not easy at present to sell homes but the mechanics have been made so much easier given the internet, emailing details etc.

Low footfall to High Street offices is also a consideration. Whether in towns or cities, with parking more and more difficult, it's not necessary to go through a whole process just to collect a set of paper details.

Estate agents will eventually move from the High Street to a more retail park environment. It still will be a 'people' business and rely on local agents' knowledge with regards markets, so a move completely on-line will not take place for several generations.

What I am not sure about is if this economic downturn will speed up the process of a significant move toward the 'technology ' or indeed slow it down with sellers wanting to play it safe & stick with the names they know ?

Unfortunately there are a number of elements within the industry which do need addressing. Now may be the time for all agents, particularly the larger corporates, to reappraise practices.

I have been employed within residential agency for nearly 20 years & set up an on- line agency at the end of 2007.

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