12% Estate Agent fee's? Can that be right?

bubblesmoney

jimc wrote: »

It is true that in the USA fees of 6% and up are the norm, but the difference is that they WORK for it. US Estate Agents (or Realtors) will take the sale personally and do all the work to make the house stand out - down to cleaning and tidying before viewings. Even simple repairs and 'House doctoring' is taken as read...........

They also bust a gut to get the property noticed. No simple newspaper or window adverts and then wait for the punters. Good ones will do anything to get viewings. I remember in Houston seeing a scantily dressed 'cowgirl' (Sexist I know - but I'm only reporting it as it was!) patrolling the traffic lights on the main 6-lane highway route out of town to (posh) suburbia with a huge placard and flyers! She got a lot of attention! And that was for just one property.

i was talking about the houston dallas austin area as well. but the >6% i reffered to was for buyers paying the commission !!!! i dont know what commission the sellers pay.

boy would it be interesting to see cowgirl marketting properties the way u describe. but with the way things are going with the realestate market one never knows if they start such things here as well. will keep my eyes open at junctions now for skimpily clad cowgirl advertising properties :j better buy an income protection insurance incase i crash though:rotfl:

clutton_2

was she a letting agent and you thought she was an Estate Agent ?

Doozergirl

(Notes down cowgirl option for next property; might need it!)

bubblesmoney

Doozergirl wrote: »

(Notes down cowgirl option for next property; might need it!)

can u tell me at what junction and what times :rotfl: , might just travel there as that would be a rare sight to watch, unless ofcourse that becomes common practice beore u jump in

chickmug

Ian_Griffiths_Halifax wrote: »

How many people would be stupid enough to sell a house through an unqualifed ex-double glazing/ex-used car salesman and pay 12%:rotfl:

Are you referring to all EA's as ex double glazing and ex used car salemen?

Ian_Griffiths_Halifax

chickmug wrote: »

Are you referring to all EA's as ex double glazing and ex used car salemen?

The vast majority are unqualified but perhaps I should have said un-regulated, and when they stop selling houses they will turn their hand to selling double glazing, used cars, photocopiers or timeshare and they drift from one sales job to another. Much the same as dodgy Financial Advisers and I include dodgy Mortgage Advisers in that.

People with no morals don't care what they sell so long as they make a quick buck.

Doozergirl

bubblesmoney wrote: »

can u tell me at what junction and what times :rotfl: , might just travel there as that would be a rare sight to watch, unless ofcourse that becomes common practice beore u jump in

LOL at the thought of cowgirls littering every motorway bridge in the country before I get to [strike]hire one [/strike]do it myself!

I do like the idea of realtors taking full responsibilty for the sale. I saw a two notable properties this week where the vendors should really remember that they're trying to sell. I wanted to tidy up for them. Asking £550,000 for a tiny two bed in Battersea is not going to pull off when you've piled so much stuff up in the second bedroom that you can't get into it.

"Oh" says the EA "her boyfriend's moved in - he's sold so they're waiting to sell hers before they buy somewhere bigger" Mmm. I think he might be living there for a while. Try guaging the competition and then clean your house. And take the mop and brooms out of the ensuite shower perhaps.

Rant over

chrispyphillips

Right, I contacted them yesterday and asked them their fee's. "1.5% plus VAT" was the response, so I assume she thought we were referring to letting fee's, which is very strange since we werent discussing it as an option for us, but rather someone who might be interesting in buying our property to let!

So, thats that riddle put to bed for now!!

As a side point, whats 1.5% plus VAT? I am awful at maths, and have no idea how to figure out a percentage of a percentage! Whats a decimal point!! :rolleyes:

Doozergirl

Using a calculator put in the price you think your property would sell for and multiply it by 0.015. Thats the 1.5%.
(Or, if it helps explain it better, you divide the value of your property by 100 to get 1% of it's value and then multiply it by 1.5 to get 1.5% of it's value)

Then multiply that by 1.175% to add in the VAT and that's the price you will pay.

Of course, if you want to sign up with them, just ask them to do 1% + VAT and see what they say. Most of the agents in my area offer 1.25% but as soon as you ask, will do it for 1%.

If they insist on 1.5% then ask if they will throw in a cowgirl

lincroft1710

1.5% plus 17.5% of 1.5% = 1.5 + 0.26 = 1.76% therefore on a house which sells £100,000 you should pay a total of £1,760, on £150,000 - £2,640, on £200,000 - £3,520. Aren't these calculator things wonderful?