Self-employed estate agent

[midge]

Hello,

I am considering a career move into becoming a self-employed estate agent with a major estate agent. There is a 2 week course which costs around £500.

Does anyone have any experience/knowledge of this type of work?

Why do the estate agents employ freelance workers? Seems a little strange to me.

Does anyone know any good websites I could look at?

Is it hard to generate work?

Do most/all major estate agents employ people in this way?

Thank you

[brian]

Well, one thing to look at is how well do you know your market?

I've been reporting on property news for the past few years, and can honestly say I don't think there could be a worst time to get into the estate agency business - we're at the end of a property cycle, which means there's every expectation that market forces will start culling independent estate agencies because of a falling market.

So I would bear that very carefully in mind to start with.

As for being charged for training, then working as self-employed - simply put, this means less risk for the owner company - it's quite a common model in high sales/high staff turnover models, especially in the financial market.

The owner company gets people to pay to work for them, and then claim a percentage on actual property sales - so they get loads of the benefits without incurring most of the costs.

Definitely a good move for them when the market enters a downturn, but not good for the people taking up the posts.

2c.

[midge]

Thanks Brian,
That has definitely given me something to consider, not really what I wanted to hear though. I know what you mean the big companies wont loose out if there is a downfall, it's a chance all self employed people take.
When you say it's a high staff turnover do you mean it's because people are disillusioned with the amount of work needed to be done to make a decent wage?

[tater03]

I am not sure but I would think that they also can get disillusioned if they cannot sell anything because of the currant housing market. I just don't think I would want to do this right now. But I would like to do it someday just not right now.

[brian]

Originally Posted by midge

Thanks Brian,
That has definitely given me something to consider, not really what I wanted to hear though. I know what you mean the big companies wont loose out if there is a downfall, it's a chance all self employed people take.
When you say it's a high staff turnover do you mean it's because people are disillusioned with the amount of work needed to be done to make a decent wage?

Traditionally sales environments have a relatively higher turnover compared to other employment areas namely because in becoming self-employed, there is a much higher degree of risk and uncertainty taken on board.

Couple this with the potentially higher stresses of a sales environment, along with potential disillusionment if the gains are smaller than expected, and you have plenty of reasons to leave the sector.

I think a lot depends on the quality of the company you're working with, though - in the property market, companies such as Remax and Your Move have made a big effort to cover local markets, while also providing a strong marketing base to help affiliated persons/companies.

I guess research is a potentially key factor - finding out not simply about the company and how it operates, but also the support provided by agents.

Also, don't let yourself be blinded with stats on gains and income earned over the past few years, as this is when the UK property market was booming - but those days appear to be drawing to a close as the economic cycle turns against it.

2c.

[GoldbergGlobal]

Hi if you give me 250 pounds I will teach you how to be a self employed real estate sales person. Seriously save your money, it sounds bad from the beginning. Go and work for someone learn the business and keep your cash in your wallet.

Estate agents employ freelance people so they dont have to pay social security contributions, they do it for themselves. Come on - Wake up.

Work for someone who is going to teach you and not take the micheal or your money.

Originally Posted by midge

Hello,

I am considering a career move into becoming a self-employed estate agent with a major estate agent. There is a 2 week course which costs around £500.

Does anyone have any experience/knowledge of this type of work?

Why do the estate agents employ freelance workers? Seems a little strange to me.

Does anyone know any good websites I could look at?

Is it hard to generate work?

Do most/all major estate agents employ people in this way?

Thank you

[jasitweb]

I have had agents who have paid over £2000+vat for their 1 week course and i can tell you it does not work. The courses run at a pace and if you miss something its tough. God knows how fast a £500 course will run. Enquire at the NAEA for available courses and this will be more beneficial to any agency and yourself.
The property industry is a people business and if you are good with people you will be successful and you will be paying £500 just for someone to tell you that. Most homebuyers are as clued up on the local markets as the agents and in some cases more so. I would suggest you study your local market and arrange to view properties of all descriptions posing as a buyer and study the agents you attend with. Take notes on their service standards and compare one firm to another. Perhaps also invite local agents to your home posing as a seller and see the various tactics employed. This knowledge will be gold dust to you.
In order to generate business you will need to talk to as many people as you can, face to face, every day. Potential sellers will only allow you to sell their home if they like you and the deal is right, constant marketing to find new instructions is essential and will involve tactics like leaflet drops etc
No office will give you business they can do themselves its like giving money away, oh i could go on
Best of luck, and consider starting up on your own it wont be any harder.

[jasitweb]

I have had agents who have paid over £2000+vat for their 1 week course and i can tell you it does not work. The courses run at a pace and if you miss something its tough. God knows how fast a £500 course will run. Enquire at the NAEA for available courses and this will be more beneficial to any agency and yourself.
The property industry is a people business and if you are good with people you will be successful and you will be paying £500 just for someone to tell you that. Most homebuyers are as clued up on the local markets as the agents and in some cases more so. I would suggest you study your local market and arrange to view properties of all descriptions posing as a buyer and study the agents you attend with. Take notes on their service standards and compare one firm to another. Perhaps also invite local agents to your home posing as a seller and see the various tactics employed. This knowledge will be gold dust to you.
In order to generate business you will need to talk to as many people as you can, face to face, every day. Potential sellers will only allow you to sell their home if they like you and the deal is right, constant marketing to find new instructions is essential and will involve tactics like leaflet drops etc
No office will give you business they can do themselves its like giving money away, oh i could go on
Best of luck, and consider starting up on your own it wont be any harder.

[humbleone]

If you are going to work self employed the largest agent providing genuine opportunies is the american real estate franchise. Their terms are designed to put the money into the agents pocket not the offices, so in theory it could be a good opportunity for the right person. In practise the market at present means you should hold off, and if you do decide to go ahead, you will need to be tenacious and hard working, because you will need to generate your own leads (marketing, networking, door to door, etc).

[unhappy chappy]

Originally Posted by humbleone

If you are going to work self employed the largest agent providing genuine opportunies is the american real estate franchise. Their terms are designed to put the money into the agents pocket not the offices, so in theory it could be a good opportunity for the right person. In practise the market at present means you should hold off, and if you do decide to go ahead, you will need to be tenacious and hard working, because you will need to generate your own leads (marketing, networking, door to door, etc).

Jasitweb is right..
If remax is so good why is Humbleone afraid to tell us what association he has with it.
A remax agent in the UK.. ha you may as well be an encycopaedia salesman. You'll probably be 8-10 thousand pounds out of pocket before you earn a penny.
I assume its not REMAX as £500 does sound cheap, with remax your looking at 4 times that at least.
Humbleone, stop trying to spread the good news of REMAX, you sound like some door to door religious freak....get back to work, thats what your clients are paying over the odds for.