Sell your house at Tesco for £200!!

trolleymate

Jowo wrote: »

I can see why a fix fee service is unworkable when applied to properties of vastly different value. I've never used a scottish estate agent fixed fee selling service so don't know if there's a cap or bands according to the value of the property or any strings attached to it. All I know is that I've seen 'we sell your house for £500' on posters in their window. may be a service offered in less affluent neighbourhoods.

Think you need to investigate further before you make a judgement on fixed fee property agents.

Take a look at one of the websites or maybe call one of them for some details and you will find that they will save you a lot of money with no caps or bands.

It costs no more to do brochures, arrange viewings, put up signs and avertise through websites like rightmove whether you are selling a house valued at £500000 or £100000.

Affluent obviously means foolish enough to throw money away.

Rather than giving your money away to a traditional estate agent who will do you no more service at a much higher cost.

Fixed price estate agents are saving you money.

trolleymate

googler wrote: »

Indeed. They give you a sale board. You have to put it up yourself.

You have to do your own viewings (unless you go for the premium package where a 'negotiator' will help you host ONE Open House event)

People, do you value your time? What's your hourly rate in your own occupation? By the time you add up the hours you spend on selling your house, and put your hourly rate on them, have you 'spent' as much as you would on a regular EA...?

If I was selling a house for £200,000.

Fixed price. £499.00
Estate Agent Fee.(1.5%) £3000.00 + VAT = £3525.00

Extra cost using Estate Agent = £3026

Average UK hourly pay £12.50 = 242 hours.

Thats a lot of hours to be able to spend selling a house, not sure how the Estate Agent can find the time to do more than 10 houses per year.

googler

firsttimetom wrote: »

If they were to roll it out in every Tesco, with an actual in store agent (and there are a lot out of work who would know doubt be willing to workfor them), then it could be a different story.

Is there any indication that there are or will be Spicer agents in Tesco in Bristol, or that there any plans to run iSold in-store around the country?

I haven't seen any sign that, apart from the valuers, it's anything but an internet-only operation.....

How to expand and succeed with a new Estate Agency - hire all the 'out of work' EAs (the ones who weren't too successful first time round?) to run it for you.... yes, that'll work well.

googler

trolleymate wrote: »

If I was selling a house for £200,000.

Fixed price. £499.00
Estate Agent Fee.(1.5%) £3000.00 + VAT = £3525.00

Extra cost using Estate Agent = £3026

Average UK hourly pay £12.50 = 242 hours.

Thats a lot of hours to be able to spend selling a house, not sure how the Estate Agent can find the time to do more than 10 houses per year.

A more realistic comparison would be an hourly rate charged by a business-person or sole trader to the public for other professional services - mechanic, plumber, electrician, acupuncturist, chiropodist, whatever.... and yes, I phrased it wrong when I asked the question. I didn't mean a salary, I meant a business rate per hour. Mea Culpa.

A comparison of 'rate of salary' with 'business income' doesn't fly, as the poster proved above.

trolleymate

googler wrote: »

A more realistic comparison would be an hourly rate charged by a business-person or sole trader to the public for other professional services - mechanic, plumber, electrician, acupuncturist, chiropodist, whatever.... and yes, I phrased it wrong when I asked the question. I didn't mean a salary, I meant a business rate per hour. Mea Culpa.

A comparison of 'rate of salary' with 'business income' doesn't fly, as the poster proved above.

This site is about ways in which Joe the public can and should save money.

Business rate comparisons are what I am trying to highlight.

You suggest "a more realistic comparison would be an hourly rate charged by a business person"

The fixed rate property agents are professional business people charging business person rates.

So can you tell me what kind of inflated rates the traditional estate agents are charging.
If traditional estate agent rates are not relative to the fixed price agents or Joe the public.
What rates do estate agents relate to.
Refering back to my original calculation, I would expect an estate agent to maybe put in 15 hours per property in total with admin, phone calls and a few trips.

That would suggest that a traditional estate agent will be charging you over £200.00 per hour. That is an obscene amount of money by any standards.

Not sure if I or anyone else I know would agree that this is a fair price to pay any professional for this type of service including plumbers, chiropodists, whatever.......
Maybe we should all do the short training course involved to become an estate agent and start earning some real money. This would mean time saved trying to save a penny here and there.

Martins Money Tips = save money, do not give it away.

trolleymate

Missmotivation, nice to see someone talking some sense about all this.

trolleymate

googler wrote: »

A more realistic comparison would be an hourly rate charged by a business-person or sole trader to the public for other professional services - mechanic, plumber, electrician, acupuncturist, chiropodist, whatever.... and yes, I phrased it wrong when I asked the question. I didn't mean a salary, I meant a business rate per hour. Mea Culpa.

A comparison of 'rate of salary' with 'business income' doesn't fly, as the poster proved above.

A comparison of ' hourly rate charged by a business person' with 'business income' doesn't fly either.

googler

OK, your pal charges £499 - is that upfront or at conclusion?

You seem to expect that a standard property requires 15 hours work, so 499 / 15 would seem to be £33 per hour for his time.....

You said the average UK hourly pay was £12.50 per hour, so that leaves him £20.50 per hour to cover overheads and bolster his earnings to 'above average' ..... doesn't it?

But we're drifting from the topic.....

trolleymate

googler wrote: »

OK, your pal charges £499 - is that upfront or at conclusion?

You seem to expect that a standard property requires 15 hours work, so 499 / 15 would seem to be £33 per hour for his time.....

You said the average UK hourly pay was £12.50 per hour, so that leaves him £20.50 per hour to cover overheads and bolster his earnings to 'above average' ..... doesn't it?

But we're drifting from the topic.....

Pal ?
There are many fixed price agents in scotland all witha similar rate, suggest you do some research before suggesting any cohesion.
I can send you a private email listing a few of the agents if required.
We are all on this forum to pass on money saving tips.
I note from your past threads you seem to think that anyone who pushes a subject and questions your replies they are possibly spamming.
Suggest you read content of threads and not be too quick to judge, people can judge for themselves.
That Aside.
If you read post. £499.00 includes sign, advertising on one of UK biggest online property portals, particulars and local advertising.
Think that brings this type of agent in at around UK average.
Furthermore I have deducted the £499.00 on original calculation for an estate agent so in comparison to your calculations the traditional estate agent is charging around £215.00 per hour against Fixed price agent of around £18.00 per hour.
Think everyone can see where the savings are to be made. £197.00 per hour.

Therefore the topic still remains.
Fixed price Agents are cheaper than Traditional Estate Agents .........doesn't it.

googler

trolleymate wrote: »

Our local agent does all this for £499.00. Good local knowledge and is there every step of the way. Come on everybody get with the programme. Save money.

He/she may not be your 'pal' as I put it, but the term doesn't seem to be too far off the mark.....

You certainly seem to be going out of your way to put business their way.....

Tesco beans are cheaper than Heinz, but I'd rather eat Heinz.
Cheapest can sometimes be false economy.