Reply To: Estate Agents Fees

#65093
Anonymous
Participant

Hi Vince,

thanks for the post, I enjoyed reading it. i am slightly confused at the sales person part of it, I didn´t know I worked in sales…..thanks for letting me know that 😉 , I actually thought I did something totally different.

Anyway back to the post, I agree with what you say about pressure selling, I personally would hate to be pressure sold, and knowing me that sales person would get a bit of whiplash from my response, menot being the most tactile person people know. The way I see it is if you are sold something you don´t want, you only end up taking it back, so what´s the point?

I prefer, as you say, someone to give me genuine advice(at least I hope it´s genuine, you never can tell these days ) and I leave that shop or wherevr it is thinking I have made my own choice.

What I do not understand is, as you also say, it is a performance related job, and as such, you perform, you get paid.

Under this scheme, I now understand how VIVA can afford to pay such high wages on low commission, they take 6 sales for free before paying anything out.

Now you take it that an average sale is 300-400k euros on the coast, I´m guessing here but most properties seem to equate to that these days here.

Then 6 X 300,000 sales at 2% commission, is 36000 euros, if it was 400000 euros, it would be 48000 euros.

Add on your 1% conveyancy fee and they are taking between 54000 and and 72000 euros, if my maths is correct. So they have effectively taken in your earning for up to two years, based on that fact you get straight onto the 3000 basic, but if you don´t get onto that basic God knows how long they could pay you for.

And if you leave in the meantime….even more money in their pocket.

I do truly commend what they are doing if for the right reasons, but looking behind the “transparency” it seems less transparent, if you forgive my confusing explanation.