The History of Estate Agents Flashcards
1
Q
What was the meaning of the term ‘estate agent’ before the 20th century?
A
Someone who managed a large property.
2
Q
What were the responsibilities for an estate agent before the 20th century?
A
- Collecting rent for any tenants on the land
- Payment of taxes
- The general upkeep of the estate.
3
Q
Other names for an ‘estate agent’ before the 20th century?
A
- Steward
- Bailiff
- Factor
4
Q
Why did the number of large estates that needed a high standard of management decrease over time?
A
People migrated to cities and new job titles emerged:
- Land agent (Someone who sells land)
- House agent (Someone who sells residential properties)
5
Q
Which decade did the property market crash happen? What happened to homeowners?
A
- 1990’s.
- Homeowners were left in negative equity.
6
Q
Negative equity?
A
When a house/flat is worth less than the mortgage you took out on it.
