London Estate Agents

National Association Of Estate Agents

A real estate agent is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. Estate agent is the term used in the United Kingdom to describe a person or organization whose business is to market real estate on behalf of clients.

The term originally referred to a person responsible for managing a landed estate, while those engaged in the buying and selling of homes were “House Agents”, and those selling land were “Land Agents”. However, in the 20th century, “Estate Agent” started to be used as a generic term, perhaps because it was thought to sound more impressive.

The job of the agent is to know his or her community and local factors that can increase or decrease property prices. It is the job of the agent to value based on what has, or has not sold in comparison and to achieve the best price for their client.

The National Association of Estate Agents (NAEA) is a membership organisation for estate agents. It is based in and covers the UK. Founded in 1962 by estate agent and entrepreneur Raymond Andrews,it is the UK’s leading professional body for estate agents. Its members practise across all aspects of property both in the UK and overseas, including residential and commercial sales and letting, property management, business transfer, auctioneering and land.

How They Operate

Modern estate agents bear little resemblance to the duties of those once employed to manage a large country estate. Nowadays, they usually work in companies, ranging from the small to the very big, selling and/or letting a range of properties in a particular area. After being approached by the owner of a property who wishes to sell or let, estate agents do the marketing of the property and negotiate with prospective buyers or tenants.

The Internet also plays an important part in how the real estate market reaches a wider range of potential customers. It has eclipse the local newspapers and all other sources as the most preferred method to learn about homes for sale. Buyers also cited information from real-estate agents,yard signs,open houses and print or newspaper ads.

Currently, there are 241 estate agents in Central London the biggest being Rightmove, Foxtons, KnightFrank, Marsh & Parsons, Felicity J Lord, Savills, PrimeLocation..just to name a few while the smaller estate agents are Check-in-London, Martin & Co, Golden Eagle International, Ariston Property,and Homes & Property to name a few.