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Estate Agent not negotiating on fee.
Comments
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sell it yourself and save a lot of money, Theres nothing complicated about it, just advertise show interested people around and do a deal. might cost you a few pounds to put it on the net or newspaper at most hundreds and save thousands....regards...bri0
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SSR
How do you consider it fair to charge a vendor who genuinely does sell the property independently of you? It must happen.
Why do you not simply pursue those who claim to have sold independently, but actually to a buyer you introduced, without the need for a SSR contract?0 -
Cruella.
Can I suggest that you set an asking price of 'Valued price + 0.5 - 1.5%', to cover the commissions?
Try that for two weeks and then drop the price, if getting no interest.
That will then ensure that your particulars are re-sent again in two weeks time.
Also, do remember that you only pay that amount IF the EA sells your property."Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0 -
As an EA I have a duty to keep the business going, keep staff employed and ensure we are able to do what we have to with the marketing of each property. In my case year on year review the rates and I feel our rates are fair, not the lowest but reflecting reality as to the amount of advertising that can be done.
I don't negotiate as I feel it is not right to act at differing rates for differing people some of which may know each other and feel angry if we are doing a lower rate for their friends, neighbour, etc.
I never drop my commission, or reduce my minimum period of SSR because every new property has start up costs. Each property, taken on, as an independent, is a calculated risk for me. Am I prepared to invest the sort of energy and money and will I get a return. I only ever act as Sole Selling Rights because my friends, who don't, get badly p-issed about by those seeking to cut out their commission by saying they have found a private buyer.
So an insight into an agent?
Very helpful Chickmug, thanks.
Fair points about your commission which I completely understand but I'm not too sure about the SSR, while I am happy to sign up to a period of SSR (in the current climate it is only fair to give the agent a decent chance at selling) the maximum I will agree to is 8 weeks. How long would you want?0 -
sell it yourself and save a lot of money, Theres nothing complicated about it, just advertise show interested people around and do a deal. might cost you a few pounds to put it on the net or newspaper at most hundreds and save thousands....regards...bri
I'm not sure that would work with things the way they are at the moment, last year I would have definately considered it but I'm just not so sure now.
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I hope you gave them a nice cup of tea. The vultures are having a tough time of it lately and a little kindness goes a long way.
I take my own custard creams but fully expect a cuppa to dunk them in!A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
Cruella.
Can I suggest that you set an asking price of 'Valued price + 0.5 - 1.5%', to cover the commissions?
Try that for two weeks and then drop the price, if getting no interest.
That will then ensure that your particulars are re-sent again in two weeks time.
Also, do remember that you only pay that amount IF the EA sells your property.
WHEN! Not if!!
Good idea though!0 -
Tell them they won't make any money on your sale if you don't use them, their choice.
True and I have been in the position where I have been asked to go back and put the property on the market. The party, by then, knows my commission and other terms but decides to try and haggle me down. My reaction is always polite but I am prepared to walk away. I expect them to be as tough as they want to be when considering who to use but not to drag me back and try it on then.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
What's ridiculous of course is that they work on percentages. Marketing a house at 350k is no more difficult than marketing one at 150k but they cream so much more off the higher value.
Leeches though they are, I doubt that you'll get better than 1.5% but insist on LOTS of photgraphs (good ones), floor plans, PDF, etc.
Don't let them get away with one scabby photo taken on their mobile phone and some cursory details.
I (one of the leeches ;-))work on a reducing percentage as the value increases which I think is fair. I also use up to 22 pics on the details.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
chickmug, a quick question or few then. Has your agency put up its fee since the market has become stagnant? How much is your fee? - I do not think any of us know you, so feel free to sill the beans. How long do you tie people into an SSR? Who long these day is it taking to sell the average house and how long did it take before? - I'm just nosey? Ta.
15years ago our commission was 2.5% SSR to 3.75 Multi Agent. I no longer do Multi and my commission is never less than 1.5% + Vat. The point at which our rate went down is when prices started going up.
SSR very minimum 8 weeks but usually 10/12 weeks.
No average type of sale as it depends on the price (which sellers set) and many other factors.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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