Negotiating estate agents fees

valleylass

Hi All

Thanks for the replies will give them a call tomorrow and see what they say. Fingers crossed!

The house will go on the market at £80k (2 bed terraced) so the fees they have quoted are well above the 1-1.5% that others have recommended. it is true though that you get what you pay for! We've viewed properties with them before when we were looking to buy (at the time we werent selling our current property) and they were far and above the best so least we've also had experience of dealing with them from a buyers point of view as well

Are there any other hints and tips I should bear in mind before signing any contracts? As I said before this is all new to us so any advice will be gratefully received!

pixiepie99

I'm sure you have already, but just in case you haven't, you should read this:

http://www.moneysavingexpert.com/mortgages/house-selling-tips#best

Darth_Marty

Its their minimum fee, lets be fair the 1-1.5% on under 100k properties isnt a great deal of money especially if it sticks around for a while. I bet you get the minimum fee reduced to 1500.

googler

poppysarah wrote: »

You have to study their ways. This is just the reverse of something one was doing to someone on here the other week. Saying they had a buyer lined up but to find out who they'd have to sign up with the ea...

Well, what's the alternative? Give the name of the (potential) buyer away for no financial gain?

googler

To the OP - would you pay the EA well for a quick sale? Rather than negotiating him or her down to the point where your house is a loss leader for them, negotiate a sliding scale with them.

£1800 on your £80k house is 2.25%

Offer the EA the full whack if you get an accepted offer in first week or fortnight. For four or eight weeks after that, 2%. Another month after that, 1.5% maybe

Timescales to be varied according to your local market of course....

MissMotivation

chickmug wrote: »

I am a retired EA of many years standing like all walks of life there are the good the bad and the ugly. EA's and the customers with which they deal. Believe me the cleints are not as pure as the driven snow

Chickmug, don't take any notice of poppysarah, she likes to pop into threads with one-liners that she has obviously pinched from other forums/threads. Her advice is rarely helpful and quite often completely wrong!

Ms-Money-Penny

Looking at your user name and possible location would EA's in questions be Darlows. If so then in my opinion they are not the best as we lost potential buyers because of them last summer. I tried to renegotiate the selling fees and they would not budge.

chickmug

MissMotivation wrote: »

Chickmug, don't take any notice of poppysarah, she likes to pop into threads with one-liners that she has obviously pinched from other forums/threads. Her advice is rarely helpful and quite often completely wrong!

Before I retired fully I spent a lot of time trying to help folks on the forum. Then I fully retired (early) and just do not have time.

I hope folks take heed of advice given as a lot is wrong as per the warning on the forum as below.

"Remember, this is an open forum! Anyone can post so always exercise caution when acting on info."

valleylass

Hi all

Thanks all for the comments have contacted the EA and just waiting for a response as the branch manager was unavailable today:rolleyes:

Sorry to hear what happened to you Ms Money Penny, did you use another EA instead-any recommendations? We've based our decision on the service we've received from EAs when I was looking to purchase a property a few months ago, but things can change with change of staff etc...:rolleyes:

Ms-Money-Penny

valleylass wrote: »

Sorry to hear what happened to you Ms Money Penny, did you use another EA instead-any recommendations? We've based our decision on the service we've received from EAs when I was looking to purchase a property a few months ago, but things can change with change of staff etc...:rolleyes:

No recommendations sorry and as far as i am aware they have the same staff.

Then they started to bring buyers who had to sell their own property which was a total waste of time as far as i was concerned. Because when properties were selling fast they wouldn't have bothered.

Good luck and make sure if you do have viewings that they have a mortgage in place and don't have to sell another property.

Also a fixed price of £1800 is if you sell for 80k or 60k so then you'd be looking at a selling fee of 3%:eek: