I have the unpleasant experience of selling my house at the moment. It is not the first time that I am selling my house and have thought about this issue many times.
I sign a mandate.
I pay commission.
I take the responsibility.
The agent receives 7% commission on average and his or her responsibility is to market my property and get me my price. The only responsibility of the agent is to SELL MY HOUSE.
Nowadays the property is listed so that other agents from other estate agencies can also market the property and thus increasing the exposure.
What totally gets to me is that not one agent that brought potential buyers along, were SELLING my house. They just let the people wonder through the house all on their own. We even had a specific agent say to the clients as they walked in the gate: "This is an old house". How do you expect to sell anything like that? What am I paying commission for?
If you bring along clients and you don't sell the house to them, then I am willing to MAYBE pay you 1% commission for bringing a long the client, but why should you get R 70 000 comm for just bringing around someone?? Even worse, why should I lose R 70 000 just because you brought someone round?
And in most instances the agent then negotiates with me to lower the price so we can just do the sale.
So my question is... who's agent are you really, Mr(s) Estate Agent? Seems to me the buyer's agent, definitely not mine!
Majority of estate agents suck and they are paid way too much for doing nothing!
Francois
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