Business Baron

Estate Agency

Estate Agency: Homes sold on commission. An estate agent is paid on completion and on nothing else, so the business is a pipeline: instructions won this month…

Homes sold on commission. Win the instruction, then get it over the line.

An estate agent is paid on completion and on nothing else, so the business is a pipeline: instructions won this month become fees four or five months later, if the chain holds. Roughly a third of agreed sales fall through, and the work is done either way. Fees are under permanent pressure from fixed-price online agents, so what you are really selling is a local valuation people believe and the ability to hold a chain together when a survey comes back badly.

Setup costs
£30,000 to £120,000
Competition
High
Category
Construction & Property

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