Estate agents asking for 30 days invoice

[twicknix]

Re: Estate agents asking for 30 days invoice

I hadn’t realised that I started a debate! As for going to Tesco to pay for the shopping is an entirely different issue as it’s retail and it targets domestic customers.

Us engineers targets mainly domestic customers (the clue in the name as domestic appliance engineer), as for business to business they operate on different levels. In Tesco they buy the goods on 60 or even 120 days invoice and we hear how they screw the suppliers (I know this as I used to work for Asda in the admin dept). The rules applies very differently in business.

I have more paying landlords than estate agents so I can afford to lose the trade with other estate agents until they are prepared to go on my terms. Generally I give them 7 days invoice, it’s more than generous and often I get paid within that time frame. It is a case of saying “if you don’t pay up, I know where you live so be warned!”.

[squadman]

Re: Estate agents asking for 30 days invoice

With all respect there are many debates on this forum where people can discuss ideas, obtain help and assistance and the like, so nothing unusual there.

As for my comment about obtaining something immediate like going to Tesco for shopping what you offer is immediate, again no difference there,

You talk of business to business which leads nicely onto this: Go and try and rent a property from a letting agency,

1. They WILL require to do a credit profile and check on you FIRST.

2. They May require security in the form of a Guarantor.

3. If they then decided to deal with you, they will want one of two months rent UPFRONT. or a substantial deposit.

All of which is designed so they don’t get screwed over as some put it, Now as YOU are a business as well you try running them through the same set of whoops before you allow them a credit line which in essence is what we do when we allow trading to commence without payment, would you really wnat to be waiting 30, 60, 90, 120 days for your money ???

By posting a subject here for general comment, and what I have said is my view and general comment it should come as no surprise when others have a view just as you do, at the end of the day you can operate your business exactly as you choose but theres a lot of experience of this site and a lot to learn for those who have the will to listen.

[washtronics]

Re: Estate agents asking for 30 days invoice

i have had a few estate/letting agents that also want 10{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of the invoice total paid to them as commission. It bumps the price up a bit but they accept it.

[Martin]

Re: Estate agents asking for 30 days invoice

I think you’ll find that estate agents as a rule charge more commission than that for letting agency services . 10{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} is well cheap.

[squadman]

Re: Estate agents asking for 30 days invoice

washtronics wrote:i have had a few estate/letting agents that also want 10{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of the invoice total paid to them as commission. It bumps the price up a bit but they accept it.

🙂 We have as yet not had that situation but if it was ever asked for then I would add 10{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} before allowing them the same off ! Why should they obtain a commission for this in the first place ? We need to be increasing revenues not allowing them to be eroded.

[Martin]

Re: Re: Estate agents asking for 30 days invoice

squadman wrote:Why should they obtain a commission for this in the first place ?

They are ‘work providers’ after all said and done. Gift horse, mouth and all that. Just play their game, keep them on your side, don’t undersell your services and reap the reward….

[twicknix]

Re: Re: Estate agents asking for 30 days invoice

Martin wrote:

squadman wrote:
Why should they obtain a commission for this in the first place ?

They are ‘work providers’ after all said and done. Gift horse, mouth and all that. Just play their game, keep them on your side, don’t undersell your services and reap the reward….

In contract catering, they do this kind of practice all the time. They charge the client a fee for managing their catering department, on paper they don’t make much of a profit but when they order the food from the supplier it’s really captive market. The supplier have a “mark-up” price in terms of percentage, I used to have a book containing a list of nominated suppliers that gives preferential mark-up and was encouraged to use them even their prices are way higher. It is seen as unethical or back-handed but it’s all above board. I wouldn’t be surprised that estate agents operate that kind of transaction. I used to deal with a local newsagent when I worked in catering on supplies of newspapers and magazines, it was a lucrative deal on every newspapers or magazine sold I would get 15p, I could have easily raked up a week’s worth petrol money but my conscious would not allow me to get into this deal. 😯

[Martin]

Re: Estate agents asking for 30 days invoice

…..also, it goes without saying that those that do all the hard work in fixing the problem, earn the least from it. The ‘pinstriped suits’ gain the most. So never undersell yourself and the good service you provide them…….

[Author]

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