Estate agents Fees

ElaineC_2

Can anyone tell me the cheapest quote they have had from an estate agent to market your property? I have a flat to sell, only worth £60,000 and one wants a minimum of £2,000 to market it, another has a special offer of £1000 + VAT. I always thought it was about 1%, did not realise there was a minimum charge.

hcb42

lowest quote I got last year was 1.5% plus VAT I recall, house price approx £400K

I can see why no one would want to do it for £600 though...£1K seems reasonable to me if they are a decent firm. Have a look at some of their online details on RM to see if they put the effort in...

Jazzie99

We recently got 3 agents in. They quoted as follows:-

Agent1: £4,500 (fixed fee, 20 week contract)
Agent2: 1.5% fee (6 week contract)
Agent3: 1% (6 week contract)

Property valued at £280k in East London/Essex area

I went for Agent 2 as I preferred them but I negoitated fee down to 1%. I would never go for a fixed fee unless its rock bottom - where's the incentive for them to get the best price for you.

timmyt

dont go too cheap or that says something about the Agent.

Don't go for fixed fee and never pay a penny upfront (save an EPC being no more than £80)

good luck

googler

1% of £60,000 is £600.

Core question is, if the house sells after 6 mths, their income is £100 per mth. Does this cover all EA's costs relating to your sale, along with a proportion of total running costs and business expenses, and leave some profit? If not, then your sale is a 'loss leader'.

I'd say the EAs charging £1000 or more have decided that they can't afford to run things on anything less than that figure, and are unwilling to take the lower-priced properties on as loss leaders....