Estate agent fees, Manchester

vbt

Hi,

I wondered if anyone could advise what sort of fees they're being quoted by estate agents to sell a property at the moment?

We've got a flat in Manchester city centre and the estate agents all seem to be charging 2% (I think places in the suburbs of Manchester charge slightly less but their catchment areas don't cover our address).

We have tried negotiating and have managed to get no tie in and cancellation of contract with 7 days written notice, but we're struggling to get anyone to budge with lowering the percentage.

I have contacted pretty much all of the local agents but have had a response from only 3 of them! One I hated because they were really underhand, avoided answering our questions and criticised all the other agents in the area and claimed that the only way we would sell our proprty (which they haven't seen and don't know the address of) was to use them!

The other two I was more taken with and both have agreed to allow us to try and sell privately concurrently. The only problem is their fees, which i think are high - I was looking for 1.5% ideally.

Anyone had experience of agents in this area or tips to knock the percentage down?

Thanks

engltayl

Hi,

I live in a nice place called chorlton in south manchester and we got a 1% rate without asking. 2% is steep. The cheeky !!!!!!s!

Ian_W

I live about 15 miles north of the city centre and around here 1.5% seems about the norm, but you can usually do a bit better with negotiation once you decide on an agent and dangle your property in front of them!

vbt wrote: »

(which they haven't seen and don't know the address of)

I take it none of the agents have been to value it? In which case I think you're starting your negotiations at the wrong point, TBH.
No salesman is going to start cutting you a deal whilst your effectively just "window shopping". Get at least 3 or 4 to value your property and decide on the 1 or 2 you thought knew the market best. When they can smell that they may get your property on their books, they may well be able to offer you a better deal to get your business.

Also don't discount the fact that most things in a City Centre cost more than out here in the sticks, office rental, employee costs and so on - so don't be surprised if EA's operate at City Centre pricing.

BoL.

chickmug

Because of my past experience I regularly get asked to help find and decide on an agent. And find:

1) I can call 8/10 agents and will discount half from my initial questions. I make it very clear unless they quote me their most competitive rate I will not take it further. I will not accept the excuse we can't quote over the phone and our rep will discuss with you at the house. HOWEVER I never accept the figure quoted is their final best figure and will negotiate again at the house.

2) Sometimes it is clear agents in some areas are more desperate than others and you can get them right down.

3) It is also very clear there are areas where it is impossible to get any agents below a specific figure which seems to suggest cartel.

4) Must be an area thing but last time I did this exercise I couldn't get any below 1.5% + Vat. I even touted the idea of a special 10% off for me being a past member of the NAEA but NO.

5) Watch minimum fees that are sometime not explained but are in the agreement.