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TODAY'S OTHER NEWS

My First Property Sale: Reminisce about your commission debut

Many agents will remember the nerves and jubilation of their first property sale.

Estate Agent Today has launched a new video series where property professionals can reminisce about earning their first commission and how they felt when they got their first transaction over the line.

Email marc@angelsmedia.co.uk if you would like to be featured in the My First Property Sale series.

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Our first interview is with Simon Hancott, director of EweMove Leighton Buzzard.

He previously sold in-flight entertainment to airlines but switched career five years ago to run his own agency franchise.

Hancott launched EweMove on the May bank holiday weekend of 2017, offering a fixed fee of £995 on the first 10 listings before moving to commission of 1% plus VAT.

He leafleted every street with his business partner and ended up selling a property to a first-time buyer couple.

Hancott told Estate Agent Today: "The first listing didn’t make us rich and probably didn’t cover the costs but it got us through the door.

“It was nice to connect someone with their first house and was a happy moment for them.”

Hancott said the business really started to get going once it moved to commission.

He said: “We invested loads of money into the business and were without salaries for a while.

“Everything was counting down to first fee.

“We knew the first 10 wouldn’t pay a wage but once we went to commission then things would filter through.

“Our first full fee was on a £700,000 house, that got us £10,000 in the bank in our fifth month of trading and things then started looking up as listings carried on.”

Watch the full video interview below.

  • Murray Lee

    My 1st sale was in 1973
    A 2 bed flat at £8000
    I think The agents fee was 2.5% of 1st £5000, 1.5% of next £4500 and 1% of remainder but Im sure someone will correct me

    That would mean about £267.50 to the company and 10% to me.. the grand sum of £26.75!

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