In the USA they do a lot more for you. Some of the work they do is done by conveyance solicitors here. And I "believe" in the USA they do not have conveyance solicitors as the estate agent does it all, searches and all and no extra bills for this search and that search, etc. The gas/electricity/heating/air con, etc is also checked out.
Here all they do is measure up, take a photo and attempt to sell it as it is. Money for old rope.
HRYK. Plus "real estate agents" in the US will often act on your behalf with respect to both buying and selling - none of the "my estate agent can't talk to your estate agent, he has to talk to my solicitor who will write a letter to your solicitor who may then write to your estate agent ... or not".
My opinion of estate agents here was established about 15 years ago when we sold a flat in London - to their credit, they did find a buyer within 24 hours of putting the property on the market, but then tried to charge us for (a) preparing and printing details, (b) taking photographs, (c) erecting a "for sale" sign, and (d) press advertising
-- none of which they actually did.
Julian
I assume you never paid.
Fortunately we had agreed to their terms and conditions before they found the buyer, which was clear that printing details etc. were to be charged as extras on top of the agreed % of the sale price. I suspect that they didn't intend to rip us off, and just sent out a "standard" invoice. Had we been unwary we could, though, have ended up several hundred pounds out of pocket.
They also arrange open house days where you are expected to go out. They then canvas and wheel in the punters, often simultaneously, which in itself creates more of a sense of demand.
.andy
To email, substitute .nospam with .gl
6% is the norm, but most agencies can be negotiated down in a competitive area. If your house is worth over $100,000 you can usually find someone to do it for less.
This depends on the state. The west coast has nearly all sales dione without lawyers, but they are still required in New York. States standardize the contracts, then use lawyers only for complicated sales. All sales go through "escrow", where all papers are signed, large banker's cheques and keys are exchanged -- at that time, legal title passes to the buyer. We DID do all the negotiating for the property, which could save a buyer a lot of money, or the seller a lot of legal responsibility.
The
Agents do arrange all inspections. The cost of those inspections is paid according to local custom - some paid by the seller, others by the buyer. A good agent will have inspections done before putting the house on the market, by good inspectors. Then the chances of "falling out of contract" (the sale falls apart) are greatly diminished.
I have noticed that agents here do not want to know anything about the condition of the property -- if they don't see it, it doesn't exist. Over there, agents must do their own inspection and disclosure forms.
I was an agent for a few years, but found it was hard work. For all the differences between here and there, the buyers and sellers are all the same -- they want to hide everything from the other side, then blame someone else when it all goes pear-shaped.
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