What EA Fee's should I pay?

webmister22

Hi,

I'm currently considering selling my house for around £95k -£100k and would like some advice on what fee's I should pay. I've read the article at the top of this thread but the only EA's who will offer anywhere near 1% are small independent firms and as I want a fairly quick sale I want to go with one of the bigger companies in the area to get the most coverage. I've negotiated the 2 main players down from 2.5% to 2% and 1.85% but they don't want to budge any further. Is this a reasonable fee or should I be able to push them down further and if so how?

All advice and opinions welcome.

Thanks in advance,

Webmister22

tifnstav

Won't most buyers in your area check all estate agents out anyway?
I know if I was looking I wouldn't just go to the biggest, I would look in all the windows and register with all of them!

MissMotivation

The argument that large corporate EA's sell quicker because they have more covergage doesn't really stack up now because...

1) Most agents use the Rightmove website which has a worldwide coverage.

2) A buyer who is looking to purchase a property generally would visit an agent in the area that they were looking to buy, in fact most buyers register/contact the majority of agents to be notified of properties

3) You are more likely to get a cheaper fee from an independant agent, with corporate agents you are paying for their "brand" rather than paying for service.

4) I would choose my agent from personal recommendation from family/friends/work colleagues rather than which agent gives you the better sales pitch.

Out of interest I am an EA, corporate trained but currently working for a large independant agent so I have experience of both. Out of the 12 agents in our town we are currently 3rd largest and to give you an example......the likes of Bairstow Eves and Your Move are probably about 7/8th

dmg24

When I sold my last house my estate agent charged 1%, with a minimum charge of £1000. I used the local building society's estate agency.

When I was looking for somewhere new I based my search around properties which were shown on Rightmove, and most of my friends have done this too, so maybe worth checking where local estate agents advertise? If they have national advertising then you shouldn't be at a loss by using them (and you may well get better service than a larger estate agent).

Good luck!

pawpurrs

Agree with the above, I would allways pick an independant on the whole they care more and will provide a better service, fees sound high, but depends on your area I guess.

Doozergirl

I wouldn't dismiss Independents either. The biggest agent in the town I just moved from is an independent where you can negotiate 1%. I wouldn't use a 2% agent just because of their brand - they really don't offer anything more than a decent independent. Sometimes less :wall:

Careful_girl

I would choose my EA based upon recommendation. If not on the EA which sells the most properties similar to yours either in area or type. Eg. An agent sold a barn conversion down the road and had a list of buyers willing to pay the asking price. Around the corner a house had been on the market with 3 different other agents and not sold in over a year(we bought it). The other end of the barn conversion went up for sale a year ago. It has had 2 agents both ones who sell in town but not out here. Still unsold. We put our house on the market with the 1st agent and they had sold it within a month. They got over thae asking price an we had a choice of buyers- we took the cash buyers.
So I wouldn't worry about 1or 2%. I would want my house sold by the most able agent for my property. Rightmove is a good website and Primelocation too.
Good luck.
CG.:j

Jorgan_2

I've worked for the largest corporate & one man independants, I wouldn't work for corporates again. Indepedants survive on providing a good service & selling houses, corporates cross sell anything & everything from mortgages, insurance, gas & electricity suppliers, removal services & bubble wrap.

lilyann1

We tried to sell a few years ago with 3 different big EA's firms.All to no avail.
They charge around 1.75 to 2%
We went with a very small EA this time and have been charged 1% and they have been brilliant.There are only 2 people who work in the office and they have been so caring and helpful and always give us feedback,which is one of the problems I had with the bigger agents, they never called us and no feedback.
I would never go with a big EA again!!! It's luck of the drawer really. Don't forget you have to pay the EA fee plus add VAT too so be careful on yo

dougk_2

I wouldn't pay more than 1%. There is plenty of competition around so play one against another to get the price down. Think about it you h2aggle to get the price down on a house but you could save as much haggling with the fee the EA charges. Considering prices of properties have grown a lot (doubled) in the last few years the EA's can afford to cut their % rates too!

PoorDave

No need to pay more than 1% IMHO. Keep haggling!