How many people renegotiate estate agents fees?

xtra_time

I have had valuations and was wondering in practice how many of you succesfully renegotiate the fees?

My preferred agent is of course the most expensive. (They are 1.5% of the sale btw)

vegasbaby100

THEY WILL COME DOWN!

We were qouted 3 prices the company we wanted to go for were the most expensive. We explained to them that we liked them but due to cost would be using someone else. they then came down in price. all the other companies offered to lower their prices even further aswell.

karenthemummy79

it depends on the company! The smaller independant agents can usually negotiate but the likes of Beresford Adams who would be my favoured EA are really expensive and will not budge on their price!! I just wish I could afford their fee because they are commission based sellers so are more likely to get us a sale!!

Definately worth a go though!!

Doozergirl

I have always negotiated and always been successful. In fact, I've negotiated any fee at the valuation stage even before we've commissioned the agent, which probably makes it easier.

I disagree that the corporates won't be knocked down - we knocked Knight Frank down the first time we used them.

The most we ever paid was once, 1.5% to an agent in London but out of all of the agents we've used, I would still say they were the best. Proper salespeople, they made us more than they cost us.

cangra

Be confident and tell them that their commission is too high for you. I have sold 4 properties in the last 2 years and have negotiated each time and each time they have lowered their rate. It is definitely worth a try! Go for it!!

xtra_time

I am not very good at bargaining (will prob end up paying more lol). I think I may compose an email to send to them mentioning how I would take hips, and legal from them if the price was less. Worth a go.

Doozergirl

xtra_time wrote: »

I am not very good at bargaining (will prob end up paying more lol). I think I may compose an email to send to them mentioning how I would take hips, and legal from them if the price was less. Worth a go.

What?? That's not negotiating!

It's not even about negotiating. You want the best price on evertything which probably means looking elsewhere for your HIP and solicitor.

Ask them when the value the house what their price is and then tell them that you would of course be looking to pay less than that. They roll over most of the time. If they don't, find someone that will.

chickmug

Always many that will tell you tha they have and you SHOPULD get lower fees. But how many would post and admit they couldn't negotiate down? I suspect not many.

By the way we never negotiated our rates down.

We would politely say no as we operated a 'no haggle' fee basis. If we did we wouldn’t relish the idea of spending time fending off disgruntled sellers who find out we have varying rates and who would demand to have a full explanation as to why they were charged more. The key was to pitch the rates right as and when they needed tweaking.

This view is common amongst the EA's I knew but I admit it could be to do with the area.

Archlever

Hi,

Having done it once I know its possible, specially in the current climate. We had a number of valuations, picked out the agent we thought was best and told them that we'd go with them if they matched the price of their lowest competitor. I made it clear that I wasnt trying to go back and forth trying to play one agent against the other and that we would go with them (no further negotiation) if they matched the rate (1%). They agreed.

Having said that, we would probably have gone with them even if they were slightly more expensive than the competition, as a good EA is worth his weight in gold. They were extremely professional, kept us informed, did accompanied viewings while we were on holiday and sold our house in two weeks (May 2009).

So, I would give it a try and if no result go with the one you like. All the best.

Foggy

I paid 1% last year. It was the third estate agent round and I already had quotes of 1.15% (still negotiable:rolleyes:). He just said 1% straight away.

Funnily enough it was that bloke from the apprentice - Phil Taylor?

rainbowangel

I paid 1.3% the EA that I liked wouldn't come down from this. Turns out they weren't the best EA as I had a few problems with them. Even the slightest % taken off is more money in your pocket than theirs. If the sale that I have now didn't go through I would have considered selling it myself to save ££££'s.

Good luck! xx