Domestic Estate Agent

Question 1

What is a domestic estate agent? What must their actions align with?

Answer 1

Estate agents operating within the local country, who must abide by the laws of the country they operate within.

Question 2

Which kind of role would estate agents prefer when dealing with sellers?

Answer 2

The role as a sole/preferred agent.

Question 3

What may the sellers do in the hope of increasing their chances of selling?

Answer 3

Hire multiple agents.

Question 4

Key aspects of the domestic estate agent role?

Answer 4

• Finding new properties to sell
• Networking
• Valuing properties
• Signing contracts with sellers and buyers

Question 5

How do domestic estate agents find new properties to sell?

Answer 5

• Leaflet drops
• Door knocking
• Cold calling
• Ads for sellers

Question 6

How do domestic estate agents network in their community to find new sellers and buyers?

Answer 6

• Attending events
• Building relationships with tradespeople (a person engaged in trading with houses)

Question 7

How do domestic estate agents value properties?

Answer 7

By visiting the property and valuing it, based on research regarding the selling prices of similar properties in the area.

Question 8

When a house (which is being sold) is mandated to one estate agency, what is the typical commission fee?

Answer 8

1%.

Question 9

When a house is being sold through the use of multiple agents, what can commission fees typically go up to?

Answer 9

3%.