The Estate Agent

A word about "estate agents". In England and Wales (though not necessarily in Scotland) the roles of the lawyer and the estate agent are usually quite distinct. The estate agent is a property broker whose normal role is to find suitable buyers for properties which he sells on behalf of his client, the seller, who then pays his commission. He can also be engaged to find a property, but will charge a commission to the buyer. Many estate agents are also professionally qualified to carry out structural surveys, or advise on valuations, planning and development matters, auctions and the management of leasehold properties.

Estate agents are remunerated by charging commission on the value of the property on an agreed sale. This should be agreed with the agent when you first appoint him. An agent is not an essential party to a proposed transaction, but he can be a valued adviser on all practical, as opposed to legal, matters relating to buying, selling, letting and managing property. Especially for clients temporarily absent or not resident in the UK, his role must be considered important where property needs to be bought, managed or sold from afar.