Estate Agent fees

PoorDave

Prices are always wihtout VAT, in my experience. Generally any price you see for anything only includes all extras if they make a big thing of saying it does.

You get a lower percentage if you are selling in a popular area, because the EA's know it will be no work to sell you house anyway.

Higher percentages come if your house is going to be a problem to sell, in my experience. This depends on location, type of house, and whether it was a pigsty when they came to value it.

Negotiate with as many local EA's as possible, and play them off against each other

Cristy

The agent I am inclined to go with has quoted a non-negotiable 1.5% + VAT on the basis that all agents in the area have the same fees. I really want to get this down to at least 1.25%, what arguments would you use? The house would go on the market between 185-190k and is decorated to a high standard - in the words of the four EAs that did valuations, it would probably sell very quickly.

bordercars

go to an agent you wouldn't use screw them down as hard as you like, remember you aren't going to use them so speak your mind, most have email facilities now so use that method if you like, tell them things like we really want to use you ( use being the operative word ) but can you not do it for x , get this in writing do the same with another showing them that the first agent offered you a good deal, again get it in writing, then go to your preferred agent he will probaly match, mine just has, we got all down fron 2% ( ha ha ) to 1.5 quite easily agreed today for 1.25 which i think in the slow down period aint to bad.

Stonk

Cristy wrote:

The agent I am inclined to go with has quoted a non-negotiable 1.5% + VAT on the basis that all agents in the area have the same fees.

Sounds like the agents in your area are operating an illegal cartel ...

Nothing is non-negotiable, particularly when someone says it is, and particularly when that someone is an estate agent. Negotiate. You may not get anywhere (e.g., if 1.5% is on their boundary between profit and loss), but try, and test whether it really is non-negotiable. If all the agents really are charging the same, then it costs nothing and is extremely easy to say and carry out a threat of "1.25% or I will shop elsewhere".

Cristy

Stonk wrote:

Sounds like the agents in your area are operating an illegal cartel ...

Nothing is non-negotiable, particularly when someone says it is, and particularly when that someone is an estate agent. Negotiate. You may not get anywhere (e.g., if 1.5% is on their boundary between profit and loss), but try, and test whether it really is non-negotiable. If all the agents really are charging the same, then it costs nothing and is extremely easy to say and carry out a threat of "1.25% or I will shop elsewhere".

Wow, didn't realise cartels were illegal! Probably the reason why one of the agents was quick to brush this off when I jokingly suggested it :rotfl:

Good point about the threat of going elsewhere if no reduction - I hadn't thought about it in those terms and since I am undecided between two agents it might tip the balance in favour of one of them!

LoulouL_2

Ive just put my flat back on the market. I called an estate agent and basically said " i want you to sell my flat but im not paying more that 1% and i want a one week tie in period only" he agreed, (the flat is on the market for £115,000) so that was that. Im waiting to see what the catch is, if there is one. Or maybe its just a case of telling them what you want rather than negotiating with them.