On this page you will find details of links to Property Agent
Companies, such as estate agents, letting agents and commercial property
agents, from the UK and beyond...
In the United Kingdom, property agents are known as estate
agents, whereas in the USA they are known as realtors. In European
countries like France and Spain, and they're known as Notaries.
Despite what property agents are known as and where they are
located, the role of a property agent is similar in principle.
Estate agents act on behalf of a seller to help sell a property.
Most estate agents in the United Kingdom belong to a professional
association or body which establishes a code of conduct and sets out
what what of Sellers can expect what what from their agent. It helps
provide a framework of regulatory guidelines and documentation to
help buyers buy and sellers sell. The estate agent will
prepare the 'particulars' of the property when advertising it.
Traditionally most estate agents have a high street branch with a
shop front window to advertise pictures and particulars of
properties for sale. During the last 20 years the Internet has
become the dominant medium to assist agents in gaining the initial
contact from prospective Buyers. The convenience and speed of the
Internet means that property advertisements can be displayed on
portals such as Let-a-property.info in minutes. There are literally
thousands of property agent websites to choose. User's prefer
to browser for homes online in the privacy and comfort of their hoe
or workplace, before they get in their car and visit the property to
buy or sell.
Property agents main role is to advertise the property in
local newspapers and on the Internet, to find a suitable vendors and
qualify their needs and wants in terms of affordability. Agents
typically also liaise with both the Buyer's and Vendor's solicitor
or legal representative. Agents may also come into contact with
surveyors of representatives of a mortgage company to ensure
mortgage finance has been arranged and mortgage valuations and or
structural surveys are completed on time.
Buying the property is the single largest purchase most people
will ever make and as such they will normally require some form of
mortgage or loan to fund the purchase. In some property agents
branch offices, agents may allow an independent financial adviser or
a mortgage broker to offer to either 'tied' or independent advice
regarding mortgage products. The property agent would normally have
receive an introductory commission in exchange for passing the
contact details of the prospective home buyers on.
The property market in many western economies has boomed
between 1990 and 2006. There have been isolated local falls in some
countries such as Spain (where oversupply has forced a huge amount
of empty property on to the market). However, in most western
countries, speculation of and an increased demand for accommodation
(driven by increasing and migrating population what and changing
social factors), has forced prices upwards. In addition, the cost of
borrowing has decreased while the range of competing Financial
Products to buy a property has increased. The credit crunch of 2008,
(which was associated with banks and mortgage lenders exposure to
wholesale bad debt form sub prime USA lending) has severely dented
confidence in property markets worldwide.
The credit crunch has had a local negative effects on property
agents, with cuts in staff in estate agent networks with multiple
branches or a large advertising commitment. In the building sector
in particular, new house builders have been particularly affected by
the drop in first time buyers and reduction in the number of new
mortgage approvals. However, in the very long term, the underlying
macro economic and socio economic problems of increased population
growth and increased cross border population migration are
forecasted to continue, forcing property prices slowly upwards in
the long term.