Estate Agency Fees - What are they for?

confused31_2

Cissi wrote: »

So I take it you've sold your house by now then? Congratulations!

who said id sold my house??

My house isnt up for sale so i would have a job to sell it.

Im just answering the post about estate agency fees and what my feelings are.

confused31_2

Cissi wrote: »

Don't forget that the profits have to cover all costs of running the business

Yeah so a esate agent sells one house at 2 percent and then they can afford to pay everyone for a month and keep the office going for answering the phone.:eek:

do you think thats fair?? and do you really think they have put that much work into selling the house to actually justify charging that amount??

its okay trying to keep people in jobs but if it means ripping people off its out of order.

they shoulde be on rougue traders.

Cissi

confused31 wrote: »

who said id sold my house??

My house isnt up for sale so i would have a job to sell it.

Oh, have I got you confused with someone else? I though you were the guy who'd been trying to sell his house for a while and kept marketing it at a higher asking price after sacking your EA, so as not to have to pay for a HIP? Sorry if I got that wrong!

confused31 wrote: »

do you think thats fair?? and do you really think they have put that much work into selling the house to actually justify charging that amount??

No, I'm not naive enough to think that anything in business is "fair". The whole point of my post was that the price of goods/services doesn't have to be "justified" by the amount of work involved - it depends on what someone else is prepared to pay, pure and simple. You obviously aren't prepared to pay for it, so don't - that's your prerogative. That's why I was curious to know if you'd had better success on your own (assuming it was your posts from a while ago that I remembered).

confused31_2

A lot of estate agents make a lot of money from HIP packs, why would i want to pay for another one when i think they are a rip off anyway.

This is a money saving website and if i can do something to save money i will and would have done it, in the end i took my house of the market, but that was after learning the things that expire on a hip can be replaced DIY style so it doesnt matter.

The epc last three years, and most of the other documents can be ammended by yourself afterwards, obviously the searches are out of date but if a buyer wants to buy your house then they can be bought then.

Cissi

confused31 wrote: »

A lot of estate agents make a lot of money from HIP packs, why would i want to pay for another one when i think they are a rip off anyway.

This is a money saving website and if i can do something to save money i will and would have done it, in the end i took my house of the market, but that was after learning the things that expire on a hip can be replaced DIY style so it doesnt matter.

The epc last three years, and most of the other documents can be ammended by yourself afterwards, obviously the searches are out of date but if a buyer wants to buy your house then they can be bought then.

I'm glad you decided to do the sensible thing - I believe that's what we were all trying to tell you at the time

confused31_2

Cissi wrote: »

I'm glad you decided to do the sensible thing - I believe that's what we were all trying to tell you at the time

Yeah but if would have found out i would have had to buy anther hip later on and i was still thinking of selling later on i would have done it, just to save 200 pound, why would i want to pay out another 200 pound if i dont have to?.

Cissi

confused31 wrote: »

Yeah but if would have found out i would have had to buy anther hip later on and i was still thinking of selling later on i would have done it, just to save 200 pound, why would i want to pay out another 200 pound if i dont have to?.

To avoid losing thousands more than you have to on the price of your house, which would seem like seriously tainted goods? (Oh wait, stop - I am NOT getting drawn into this discussion again - good night!)

chickmug

confused31 wrote: »

80 percent of buyers who buy a house first see it on right move

Where did you get this statistic from I wonder

ILW

confused31 wrote: »

I work and im paid hourly now if a estate agent sold a house for 200,000 pound and was charging 2 percent, they would make 4000 pound from the sale.

How many hours do you think they spend on advertising and trying to sell your house, the most time is the first visit and when you instruct and they take the photos.

If you paid them the first 8 hours down for the first two visits, now even if they spent the next two years answering phones to arrange viewings, i still dont believe, they would spend a week at doing 8 hours a day on your house and if they did to sell it they would be on a rate of 1000 pound a hour.:eek:

If you think its so great, why not set up your own estate agency?
Put your money where your mouth is.

shirlgirl2004

I went with an agent (mainly online) that charged just over £500 which included the price of the HIP. As it turned out that was expensive. Someone I know is now buying our house so I could have paid for just a cheap HIP or indeed no HIP at all if I didn't want to give my buyers the benefit of the HIP. If you have a house in a good area which is unlike others around it (in a good way!) then it is more than possible to DIY quickly and painlessly. If you own a flat in a block of similar flats in just an OK area then you'll probably need an agent to help sell it. The 1% wouldn't be that much money to the agent either. A good agent is worth having, the problem is knowing who is good.