Buying an estate agents a few questions

[NEIL]

Does anyone think like me that the market is on the up,
and now would be a good time to invest in buying an established estate agents.

I currently have an offer pending. But as an invester in property iam new to actuly running an estate agents.
So i will be employing a manager and a couple of agents.

I have a few questions.

What is the avarage monthly salary for a manager to run the office, and how much commission does the manager earn?

What is the avarage monthly salary for an estate agent, and how much commission do they earn.

[drhouse]

Originally Posted by NEIL

Does anyone think like me that the market is on the up,
and now would be a good time to invest in buying an established estate agents.

I currently have an offer pending. But as an invester in property iam new to actuly running an estate agents.
So i will be employing a manager and a couple of agents.

I have a few questions.

What is the avarage monthly salary for a manager to run the office, and how much commission does the manager earn?

What is the avarage monthly salary for an estate agent, and how much commission do they earn.

If you want to be taken seriously, my advice would be to use a spell checker.

[googler]

If you're going to buy an established business with (I assume) the manager and agents that are there at the moment, then I'd suggest that you pay them the same as they're getting at the moment......

In the current climate, I'd also suggest, rather than asking how much commission everyone gets, that you work out how much commission is available in your marketplace (you take a recent months' worth of sales from Zoopla, calculate the total sale value and apply the average commission charged in your area to this figure). Armed with this figure, estimate this agency's current market share and apply this percentage to the commission available for a month.

This will give you an approximation of the business income coming in. Deduct your expenses, and then come back and let us know how much is left to pay the salaries, if any.

Some people would say the above is part of a business plan.

Do you have a business plan?

If you haven't at least done some preliminary investigation along these lines, there's little likelihood we can help you.

[googler]

..and if the market IS on the up, why are the EAs actually selling the business to you?

[googler]

Funny, but I keep picturing the OP in The Dragon's Den, pitching this to Theo, James, and the others and imagining the comments that would result.....

What research has the OP done so far?

Is there a business plan?

What profit did the EA make last year? What turnover? What's projected turnover for next year? etc etc

[Dan_Manchester]

think the answer is pretty clear .... more research needed

[googler]

Thanks; I had an afterthought -

"If you're going to buy an established business with (I assume) the manager and agents that are there at the moment, then I'd suggest that you pay them the same as they're getting at the moment...... or else they're likely to convert themselves to an ex-manager and ex-agents in the blink of an eye."

[brian]

Originally Posted by NEIL

Does anyone think like me that the market is on the up

Not here - the supposed busiest months of the year for property buying were relatively quiet.

Watching out to see how things look over the winter, and not expecting good things.

[drhouse]

Originally Posted by brian

Not here - the supposed busiest months of the year for property buying were relatively quiet.

Watching out to see how things look over the winter, and not expecting good things.

I had a relatively good July and an excellent August but September so far has been poor. It's a bit like a heart monitor with blips but I have a horrible feeling it will flatline over November and December. I'm not giving up yet though

[omostra06]

We operate a Central Portugal estate Agency, we have seen a slight increase in sales to buyers from the uk, over the last 2 months, this increase might be telling us something about how things are over there. maybe its getting better and people are selling, which allows them to make the move to Portugal.

on a different note, any estate agents over there that are feeling a bit fed up with the uk market, we do have some sales roles available in a couple of our Satalite branches. if you fancy swapping what your selling now to sell in the sun!