First Valuation - Now had the third!

Jonny_B_3

We have decided that with a 2 year old boy running round like a nutter we need a bigger garden!

Following threads read on here I arranged 3 valuations. Had the first of them today.

The guy was actually the same one who came round when we sold our flat through them 4 years ago! Anyway, he valued it at about what I thought and then I asked about fees.

Expecting him to say 2% (I cant remember what they charged last time) he said they normally do 1.25 % to 1.5% and that he'd do it for 1.25% plus VAT. Took me slightly by suprise when he started off that low! Now I feel like Im taking the mickey if I ask for 1% !

I'll wait and see what the other 2 come up with but would people think that 1.25% plus VAT is reasonable, especially when they did a good job of selling our previous flat?

Mrs_Optimist

We had 4 estate agents come round and give valuations - which varied by £15k. We have opted for a guy that has been going for a couple of months at .75% and not VAT because he has just started trading. He has loads of experience (was originally working in London) and won't get paid unless he sells the house (ie is not salaried) and so will do his very best because it will pay his bills. He was the cheapest, the most expensive was 2%. We are not in a hurry to move which also had a bearing on our decision, we would have had to go with a larger established agents and par more if we needed a buyer quickly.

Doozergirl

If they're offering 1.25% then you should be asking for 1%. Try 1% with the others as 1.25% is the price to beat already and then go back to your first, if you like him so much, it will bolster your confidence if the others agree.

Doozergirl

Mrs Optimist, I find the larger, more established agents to be pretty poor and more expensive. They use their name to justify their prices but have high staff turnover and little incentive because it's not their own business.

Jonny_B_3

Thanks for that. Lets see what tonights come up with!

Jonny_B_3

Second valuation today. Guy was here for 90 minutes. Got the full presentation, Estate agent of the year blah blah, most boards up in the area, usual sales in 28 days......

Valued it at £10000 less than the first. Got the impression though that the company was all about selling houses quick, quick, quick, rather than getting the best price. Anyone else had that impression off an estate agent?

Then I asked about fees and he brought a chart out with 3% which he said he has to show but they would be lower - he'd hate to lose me because of fees. I said that he had no chance of me paying 3% and that he was sure he could get it down to 1.75%. Any lower and he would have to battle his manager.

Third valuation tomorrow.

Any thoughts anyone?

Poppycat

I have had a few EA's telling me they will charge 1.5% or will discuss upon valuation as they claim every sale cutomised to suit the customers needs.

One in may area will charge 1% its a fairly new EA I may use that as a bargainin chip with other EA should I decide to go that route. I think the cost of houses these days they seem to be charging the same percentage even though houses are far more, they must be making more money

lilyann1

Yes we had all this with a very big firm EA's gave me all the spiel and loads of clients ready to line up at my door to buy my house,whereas 2 smaller EA's gave me slightly lower valuation and didn't tell me they had loads of people ready to view.
Stupidly(i know now),we went with the big firm and they were the worst load of B's you could imagine,all they were out for was their fee and nothing in our interests.
They sent round 2 people in the first week,that was their long line of people waiting!!!
Then we had no viewers for 4 weeks,so we gave them notice.
We suddenly had 8 viewers in 3 days,many of whom were not even on the market yet so not proceedable!!!
We then changed to an agent,who a very small 2 man business and she sent round 3 viewers in 3 weeks,but we sold!!!
Go with your gut instinct. Most agents are out for themselves and their fees and commission!!!

Jonny_B_3

Thanks for that, interesting stuff. Gut instinct is a very good point. This guy just tried to tell me as many stats as possible to impress me I think.

Doozergirl

It's the little flip charts that they have to use to remember what they do for a living that get me. :wall:

Out of interest Jonny B, was number two from a big chain? 3% is a complete joke, the only way they use that is to make you think you're getting a good deal when they rip you off at 2%

Jonny_B_3

Not many of our EA's are big chains to be honest. Most have a couple of offices in the local area.

This one has 3 but are the newest of the lot, last 2 years where most of the others have been there for years.