Estate agent fees for the more expensive home

googler

Top rate 5% according to HMRC

WelshNic

googler wrote: »

Doesn't really link too well to the OP's question, then, does it?

It was just a passing question, sorry I dared to ask.

JQ.

googler wrote: »

Top rate 5% according to HMRC

I'm having a blonde moment I think, apologies.

Thefunkygibbons

JQ

I was planning on some type of incentive, not least because I have read Freakanomics

At the some time, I probably want to split the fee to be part for the sale and part for the service provided

Been over ten years since we bought, and I have forgotten how much fun it all is...NOT

Doozergirl

Where it's usually pretty easy to get 1% in our part of the world, it is harder at higher price points. We usually pay between 1-1.35% - 1.35% being to Knight Frank back in the good times - I think they're less negotiable now; they will also take the money for newspaper adverts, brochures and professional photography on top of that which can easily be £2000. As nice as they were, I couldn't justify their fee again - might be different in London but then £1million properties are easier to come by down there and more likely to be dealt with by less 'prestige' agents as well.

westlondonbuyer

I've also read Freakonomics and also incentivised my agent. Only one of the half-dozen household name agents we consulted got the concept, and was up for it. He got the price we needed (on two flats and in the awful market that was 2008/09) so I was more than happy to pay him the fee - which was the equivalent of a BMW.

Obviously I wish my boss gave me a BMW every time I sold two widgets in pristine condition and sensibly priced, but hey ho.

If your house is in a desirable location or very well presented, get it seen in person by a search consultant *before* you go on the market with an agent. It doesn't cost a penny to sell through them, as the buyer pays them a fee. We did this, and although our places weren't right for the consultant's client, it struck me as a fantastic way to sell, and definitely one I'll be using in future.

BTW, it isn't true that people looking in the 5% category don't use Rightmove. An awful lot of people in the top tax bracket have very boring jobs which allow them to spend a lot of time on the internet

googler

westlondonbuyer wrote: »

......I was more than happy to pay him the fee - which was the equivalent of a BMW.

Obviously I wish my boss gave me a BMW every time I sold two widgets in pristine condition and sensibly priced, but hey ho.

If your boss pays you a salary, then that's different from you paying a fee to your agent. This doesn't form a salary, it's a business income from which all expenditure and outlays have to be met.

joerugby

We paid 1% to our last agent. We agreed a target price of £800,000. He advertised at £835,000 and achieved £819,000. He did a great job.