What does an estate agent get paid for? And why so little?

An estate agent is a guide to the world of flats and houses. A good specialist is a walking encyclopaedia with knowledge of buying, selling and renting all kinds of premises – both commercial and residential. Time and again, the success of the mission known as buying a dream “home” rests in their hands. They offer good advice, sometimes support, humour, but above all professional guidance on which our future indirectly depends. They are an éminence grise with a huge influence on our final choice. And although they do an enormous amount of work, their activity is most often underappreciated. Why? Because the bulk of their duties is carried out in the quiet of their office.

The estate agent – a one-man band!

An agent is also a PR expert, because an important part of their daily work is promoting property listings. They prepare a bank of photographs showing flats and houses, and sometimes even 3D presentations! It depends on their skills whether a property is presented attractively enough to tempt a potential buyer. A good agent must also be an excellent listener. After an initial conversation they can find a suitable listing in no time, even for the most fastidious client. The basics of psychology are indispensable in this profession.

They should also pay attention to nuances, because checking the legal status of the property falls within their remit. Thanks to this painstaking work, the client can rest assured that the property they intend to buy has a clean land and mortgage register (księga wieczysta), that they will not be surprised by any additional occupant attached to the flat, and that neither the previous owner's debts nor a mortgage encumbrance will fall on them. The agent will also check whether the price proposed by the owner is inflated.

An agent for special tasks

When viewing a dream house, the agent will sometimes cool our enthusiasm and suggest restraint in showing our emotions, trying to secure the lowest possible price. At other times they will suggest ideas for quickly and effectively raising the value of the property, e.g. by repainting it or making minor repairs.

The crowning point of their efforts, however, is preparing the purchase/sale agreement. They must eliminate every possible risk lying in wait for the buyer, while also protecting the seller from misunderstandings that may arise once the property is in use. The agent checks all possible fees that may fall on the buyer, but it also falls to them to check whether a busy road, or a supermarket that would block a picturesque view, is going to appear in the area soon after the purchase.

Minimise risk, maximise the client's profit

Using the services of an estate agent minimises risk and relieves us considerably of duties connected with legal and administrative matters. By deciding to use the help of such an agent for special tasks, we can be sure that we are investing our money properly, because they take care of the security of the transaction. And although the agent charges quite a lot for their services, what is at stake is everything we have worked for all our lives, so it is not worth taking risks. So how much does such an agent earn? The amount is negotiated individually. It may be 3 per cent, 6 per cent and sometimes even 10 per cent of the value of the property. Let us remember that the agent's commitment also depends on the size of this amount. They give us peace of mind and certainty that everything will be checked down to the smallest detail, and that is priceless.