Estate agent

From ArticleWorld


Estate Agent is a term used in the United Kingdom to refer to an individual that is involved in marketing immovable properties for clients. Some specialists consider it to be similar with the American “real estate broker”. Another common difference that appears stands in “real estate”, which is seen in the UK simply as being a property. The term originated in the twentieth century, when it actually replaced other terms like land agents or house agents.

Industry

Although the market for estate agent activity is very diversified and developed one will not find important organization chains. They do exist but the numbers are a lot smaller when compared to local or regional companies that offer specialized services in the given area. The system tends to be based on public trust and international companies that try to offer more services than the needed ones tend to be neglected by people, causing a difficult increase in sales for them

Money paid

A fee charged by estate agents varies from one type of contract to the other. The leasing of a commercial location will bring in a fee of 7 to 10 percent of the first year’s rent towards agents. If such a property is sold instead of being leased a fee of 1% is usually charged. Residential sales will bring in a fee of 1 to 3 percent plus VAT. The charges differ on the type of contract being signed or the amount in question.