Buyers Agent Don't Exist In The UK | Matt Nicol

Byron Lazine and Matt Nicol discuss differences between the U.S. and UK when it comes to the housing market, agent commissions, home purchase financing and buyer agency, as well as how Matt generates so many listing opportunities, how he monetizes his listings, and how the UK consumer views the real estate agent. Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe Use discount code BYRON for 10% off your annual subscription! Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Connect with Byron Lazine: https://www.instagram.com/byronlazine/ Connect with Matt Nicol: https://www.instagram.com/matt_the_agent/ Timestamps: 00:00–01:23 Intro 01:23 “What’s the #1 question—as a top UK agent—that agents are asking you?” 02:30 What is the buyer commission in the UK? 03:37 The UK version of Zillow (RightMove) and CoStar’s UK presence 08:16 Buyer agency in the UK (the buyer’s solicitor: responsibilities & compensation) 12:29 No 30–year fixed mortgages: mortgage options in the UK 14:00 What’s the agent commission rate? 14:44 “You’re monetizing those 400 transactions through the (mortgage) lender…” 15:39 “Are there other ways you’re monetizing 400 listings (a year)?” 16:34 How Matt’s business works (with 36 salaried employees) 20:37 The market he serves (less than 200K) and how many agents serve it 22:33 “You don’t have part-time agents in the UK?” 23:45 Buyer agency for the UK luxury market 25:15 “As the listing agent, you have buyers directly negotiating with you…” 26:04 “At the end of the day…we know the seller is paying us….” 27:22 Are homebuyers underserved in the UK? 28:18 “If the DOJ uncouples [commissions], do you believe buyers are going to pay?” 31:57 “How do you generate so many listing opportunities?” 34:32 How does the UK consumer view real estate agents? 36:49 Byron’s big takeaway from the interview ——— BAM PARTNERS 𝐌𝐨𝐬𝐚𝐢𝐤 is everything you need once a lead becomes a client: Collaborative Search. Listing Management. Transaction Management. Forms. Client Retention. Advanced Analytics. Unlock your digital sidekick today. Use code “bam200” for $200 off the one-time implementation fee → https://www.mosaik.io/ 𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/ 𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/ 𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promocode=BAM200 𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name 𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners ——— #ukhousingmarket #realestatebusiness #buyeragent