Estate Agent Fees

Chazolate

We had our house valued today and hope to sell it for around what we paid for it a year and a half ago, £111,000. We have found a house to buy already and asked the estate agent selling it to value our home. They were also the same agency who sold us our home originally and they think they still have the EPC so can save us money on that. However the fee for sole selling rights they have asked for is £2000+VAT. We haven’t sold before so were wondering if this was reasonable?

GAH

First of all, I don't like fixed fees, because this agent does not have enough incentive to get you the best price. Even if the agent gets you £80k, they still get their 2k.

If you are basing their fee on a percentage it roughly equates to around 2%, which is at the higher end of most Estate agent fee scale, but depending on your area you may find this the norm as the agent will be looking to cover their costs and make some money themselves.

Have you signed up with them yet? If not, have two/three other agents round to get their opinion and ask their fees, which will give you a guide what agents charge in your area.

The most important thing is though that you have a proactive agent that will find you a buyer.

Chazolate

Thank you for your reply. I will get a couple more quotes to compare it to.

hazyjo

You can usually negotiate on fees - but not everyone will try.

I paid 1% with my last two agents.

Jx

G_M

How long ago did you buy? You should have received the EPC when you bought it so ask your solicitor......

And anyway an EPC costs what? £50? so when comparing quotes from different agents just facto in 50 ! Remember, most EAs charge much more than this for an EPC so just tell them you'll get one yourself, then use google to find a local supplier.