Estate Agents Fee's

dinofabio

The same estate agent deals with a solicitor who charges £500 + vat + disbursements (sale only on £180K).

Deal or no deal?

rodent

dinofabio wrote: »

The same estate agent deals with a solicitor who charges £500 + vat + disbursements (sale only on £180K).

Deal or no deal?

I pay £300+ Disbursements.

Doozergirl

dinofabio wrote: »

The same estate agent deals with a solicitor who charges £500 + vat + disbursements (sale only on £180K).

Deal or no deal?

The price is okay. Who are the solicitors? Local firm?

dinofabio

Doozergirl wrote: »

The price is okay. Who are the solicitors? Local firm?

Didn't ask tbh. I was told that this firm of sols offer fast exchange by getting some of the done upfront? How true this is I don't know.

Doozergirl

dinofabio wrote: »

Didn't ask tbh. I was told that this firm of sols offer fast exchange by getting some of the done upfront? How true this is I don't know.

That smells like BS to me.

Doesn't mean the firm are bad, just means the EA is talking tripe.

A sale is mostly driven by the buyer's solicitor. Your solicitor just responds in the main.

rodent

googler wrote: »

The previous poster didn't say that the agent agreed the price, but that on a percentage-based fee, they get paid more the better the price they achieve for the seller, and on a fixed fee basis, it doesn't benefit them to achieve a higher price, since they get paid the same anyway

"A fixed fee also means that there is no need for the agent to get as much as they possibly can for the property as they get paid regardless."

Presumably the thrust of your arguement is the higher the fee the more the agent will get for your property (motivated by higher profits).
Sorry to burst your bubble but it is rare in this market that buyers offer more than the asking price (suggested by the agent possibly BUT SET BY YOU THE SELLER).
So as much as possible realistically means "the asking price" - at present most sales fall short of asking price, so the reality is you are looking for someone th limit your loses as much as they can - all the EA will do is forward the offer to you - YOU ARE THE ONE THAT SETS AND AGREES the sale price and therefore the one that gets "as much as possible for your property"

If offers over the asking price are coming in then the prop was offered too cheap.

Also most estat agent employees work on a basic and a paltry commission so have no real motivation to do anything other than show people around and be a messenger with the buyer's offer.

When an agent pitches a house he meets them at your property and walks around with them - "the pitching" is 99% your presentation & dressing of the property - the colour of the the agents tie or socks or ability to tell the punter how good the local school or pub is - is not worthy of >1% of property value - in my opinion - but that wont surprise you will it!!!!



If an agent sells a house at £100K for 1% comm=£1000 (+vat)
If an agent sells a house at £200K for 1% comm=£2000 (+vat)

Would someone like to justify why the commission should be doubled ?

Anyone got a sensible answer ti the above mystery yet ?

hcb42

I would disagree, the EA is key in the NEGOTIATION of the sale. If I had an EA who simply forwarded offers, then I would do the task myself!

A good agent can max the price achieved.

rodent

hcb42 wrote: »

I would disagree, the EA is key in the NEGOTIATION of the sale. If I had an EA who simply forwarded offers, then I would do the task myself!

A good agent can max the price achieved.

Only YOU can accept/reject the price. Parameters on lowest acceptable bid are set by YOU. Agent is merely a parasitic messenger

sweetd

any of you considered selling without agents? does it work for some people? I am willing to take photos and show people around.

sonnythecat

we're considering using housenetwork or similar.

1% + vat is £5k for us, which must make EA's hourly rate about 500 quid. I just can't get my head round it.